House Prices Falling at Fastest Rate for 10 years!
31 March 2005, 11:32 AM
#1
Scooby Regular
Thread Starter
House Prices Falling at Fastest Rate for 10 years!
House prices fell at their sharpest rate in nearly a decade in March, the Nationwide Building Society says.
The mortgage lender said on Thursday prices fell a seasonally adjusted 0.6 percent this month, the biggest decline since June 1995. That brought the annual rate of increase to just 7.9 percent, its slowest since June 2001, from 10.2 percent in February.
Soft landing or crash about to happen?
Pete
The mortgage lender said on Thursday prices fell a seasonally adjusted 0.6 percent this month, the biggest decline since June 1995. That brought the annual rate of increase to just 7.9 percent, its slowest since June 2001, from 10.2 percent in February.
Soft landing or crash about to happen?
Pete
31 March 2005, 11:38 AM
#2
Scooby Regular
iTrader: (1)
Join Date: Dec 2000
Location: Herts.
Posts: 1,727
Likes: 0
Received 0 Likes
on
0 Posts
I thought I read something along the lines of largest fall in Jan/Feb but then a bigger than usual seasonal pick up in March so maybe things not that bad...
Ie March still bad in its own right but good relative to Jan/Feb. Anyway I fancy a bigger one - hope they come down a good bit.
Ie March still bad in its own right but good relative to Jan/Feb. Anyway I fancy a bigger one - hope they come down a good bit.
31 March 2005, 12:00 PM
#3
Scooby Regular
Join Date: Mar 2005
Posts: 162
Likes: 0
Received 0 Likes
on
0 Posts
This could be interesting. Do you not think that a big down turn in the housing market will be likely to cause a downturn in the economy, and hence domino effect of job losses, mortgage arrears, repossessions etc?
31 March 2005, 12:13 PM
#7
Scooby Regular
Thread Starter
Originally Posted by T4molie
Wouldn't a rate rise in May make things worse?
I love crashing prices, gives a chance to clean up
Pete
Trending Topics
31 March 2005, 12:14 PM
#8
Scooby Regular
Join Date: Oct 2003
Location: Runway two seven right.
Posts: 6,652
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by pslewis
Hmmmmmmmmmmmm, Repos!! let me at them!!!
Payday!!
Pete
Payday!!
Pete
So, how do you reconcile your support of NL, guardians of the people, the champions of the nanny state, everyone given a fair chance etc etc, with your obvious joy at profiting from the despair of people who have lost their homes?
You sound more like a Tory capitalist to me.
Just a question.
31 March 2005, 12:19 PM
#10
Scooby Regular
Thread Starter
Originally Posted by FlightMan
PSL,
So, how do you reconcile your support of NL, guardians of the people, the champions of the nanny state, everyone given a fair chance etc etc, with your obvious joy at profiting from the despair of people who have lost their homes?
You sound more like a Tory capitalist to me.
Just a question.
So, how do you reconcile your support of NL, guardians of the people, the champions of the nanny state, everyone given a fair chance etc etc, with your obvious joy at profiting from the despair of people who have lost their homes?
You sound more like a Tory capitalist to me.
Just a question.
I do NOT support those who have over-stretched themselves, sorry!! So if I can clean-up because someone borrowed more than they could afford and got caught out then I will!!
I have never borrowed what I couldn't afford to pay back, I save before buying ...... if I can be sensible then I expect others can be - if they are stupid then hard luck, I will pick up the pieces and help them to move on!
Pete
31 March 2005, 12:23 PM
#11
Scooby Senior
Bring it on. Plenty of people need the kick up the **** that a price crash would bring, all those fancy cars and lifestyles based on the hyped valuation of some bricks and morter. Come the day I'll pick up a nice repossesed house and car from some mug who thought cash in the house was cash in the bank.
31 March 2005, 12:33 PM
#13
Scooby Regular
Join Date: Nov 2003
Posts: 527
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by PCatWork
This could be interesting. Do you not think that a big down turn in the housing market will be likely to cause a downturn in the economy, and hence domino effect of job losses, mortgage arrears, repossessions etc?
I imagine the only people who wont be interested in selling are those that jumped in at the top and have negative equity but thats not a massive problem anyway in the long term as housing always goes up in real value over time.
31 March 2005, 12:39 PM
#18
Scooby Regular
Thread Starter
Originally Posted by speedking
7.9% pa untaxed is still far in excess of what most people make on their cash At this rate in a years time house prices will have levelled off, big deal 
.
At this rate in a years time house prices will have levelled off, big deal .Its about confidence, and there isn't any in the housing market - thats my point!!!
Pete
31 March 2005, 12:40 PM
#19
Scooby Regular
Join Date: Sep 1999
Location: £1.785m reasons not to be here :)
Posts: 6,095
Likes: 0
Received 0 Likes
on
0 Posts
Whoop de ******* do....
0.6 percent fall....
I wonder what the "change in stamp duty threshhold" adjusted figure is?
How many circa £250,000 houses are now sitting at £249,995?.
0.6 percent on a £250,000 house is £1,500 - hardly earth shattering...
0.6 percent fall....
I wonder what the "change in stamp duty threshhold" adjusted figure is?
How many circa £250,000 houses are now sitting at £249,995?.
0.6 percent on a £250,000 house is £1,500 - hardly earth shattering...
31 March 2005, 12:45 PM
#20
Scooby Regular
Join Date: Feb 2001
Posts: 9,307
Likes: 0
Received 0 Likes
on
0 Posts
at this rate the houseing market could crash and the "crashed" price will still be more than what the "i have cash to burn" muppets could have bought for if they bought when they first started talking about a crash!
7% = double in 10 years.....there will be NO RATE RISE soon.....nothing to see here!
7% = double in 10 years.....there will be NO RATE RISE soon.....nothing to see here!
31 March 2005, 12:47 PM
#21
Scooby Regular
Join Date: Mar 1999
Location: Dumbartonshire
Posts: 5,896
Likes: 0
Received 0 Likes
on
0 Posts
Good. Perhaps I can move out of my £190K hovel 'oop north' and buy something more substantial. Ooops, nearly forgot a £190K house up in gods country offers the same accommodation as a £350K one 'dan sath'. Best spend the huge savings on booze then 
31 March 2005, 12:52 PM
#23
Scooby Regular
Join Date: Mar 2005
Posts: 162
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Tiggs
7% = double in 10 years.....there will be NO RATE RISE soon.....nothing to see here!
The only thing I would like to avoid is being in a situation where I couldn't sell at or around the price I bought for, if I wanted to move due to work or something.
31 March 2005, 12:59 PM
#24
Scooby Regular
iTrader: (1)
Join Date: Jan 2003
Location: Warwick
Posts: 734
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by pslewis
YES, but thats great for us property buyers with cash on the hip!!
I love crashing prices, gives a chance to clean up
Pete
I love crashing prices, gives a chance to clean up
Pete
31 March 2005, 01:10 PM
#25
Scooby Regular
Join Date: Jul 2002
Location: JFK/LHR
Posts: 3,571
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by pslewis
I do NOT support those who have over-stretched themselves, sorry!! So if I can clean-up because someone borrowed more than they could afford and got caught out then I will!!
I have never borrowed what I couldn't afford to pay back, I save before buying ...... if I can be sensible then I expect others can be - if they are stupid then hard luck, I will pick up the pieces and help them to move on!
I have never borrowed what I couldn't afford to pay back, I save before buying ...... if I can be sensible then I expect others can be - if they are stupid then hard luck, I will pick up the pieces and help them to move on!
I agree with the super troll.....
I need a lie down....
31 March 2005, 01:12 PM
#26
Scooby Regular
Join Date: Jan 2001
Posts: 9,781
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Cyberevo
What a To$$er you really are. The world would be a better place without selfish greed minded people like you, now **** off!
31 March 2005, 01:34 PM
#27
Originally Posted by Cyberevo
What a To$$er you really are. The world would be a better place without selfish greed minded people like you, now **** off!
The world would be a better place without selfish greed minded people like you, now **** off!
31 March 2005, 01:36 PM
#28
Scooby Regular
Join Date: Mar 1999
Location: Dumbartonshire
Posts: 5,896
Likes: 0
Received 0 Likes
on
0 Posts
I dunno, this could be a good time to move. I always fancied a villa in spain, perhaps I'll cash in the rabbit hutch, sell some of my property porfolio and hit the road
Last edited by Jye; 31 March 2005 at 01:46 PM. Reason: for you my precious
31 March 2005, 01:57 PM
#30
Scooby Regular
Join Date: Jul 2002
Location: JFK/LHR
Posts: 3,571
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Jye
I dunno, this could be a good time to move. I always fancied a villa in spain, perhaps I'll cash in the rabbit hutch, sell some of my property porfolio and hit the road
If that rabbit hutch is in london, could be looking at a small fortune in land...
