House price crash thread - It is happening
14 September 2007, 12:56 AM
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House price crash thread - It is happening
House prices in Northern Ireland dropped 8% last month(August). The crash has arrived, the Petes are vindicated. This is terrible news. It puts prices back to the level they were at in the middle of July 2007
14 September 2007, 01:02 AM
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The Sun recommend withdrawing all funds from Banks & hiding same under mattresses until such time as the economy recovers. Petes will be along shortly to advise when this will happen 
TX.
TX.
14 September 2007, 01:05 AM
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14 September 2007, 08:05 AM
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8% is not a crash, its a small decrease, especially when you consider how much theyve gone up over the last 6 or 7 years. Not that Im saying they wouldnt drop further but anyway, who really cares.
14 September 2007, 09:29 AM
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I think we are nearer a crash now than before.
Northern Rocks Shares are in free-fall ..... they will be a takeover target withing hours at this rate!
Uncertainty breeds panic, panic breeds reactions, reactions could lead to everyone stopping spending ... add to the mix the HIP's, and lack of confidence in the housing market and falls are a certainty.
Northern Rocks Shares are in free-fall ..... they will be a takeover target withing hours at this rate!
Uncertainty breeds panic, panic breeds reactions, reactions could lead to everyone stopping spending ... add to the mix the HIP's, and lack of confidence in the housing market and falls are a certainty.
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14 September 2007, 10:33 AM
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You are obviously mistaking us for people who care!
14 September 2007, 12:43 PM
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Yes I agree fast bloke, it has 
It's been a long time coming, but everything is in place for it to be a pretty spectacular one!
The only downside is it's clearly going to spill over into the general economy so everyone will be hit, home owner or not.
I feel sorry for anyone who's taken out a big mortgage on a stupidly overpriced home in the last couple of years. No sympathy if it's a BTL, but for first time buyers and young families I do feel sorry
It's been a long time coming, but everything is in place for it to be a pretty spectacular one!
The only downside is it's clearly going to spill over into the general economy so everyone will be hit, home owner or not.
I feel sorry for anyone who's taken out a big mortgage on a stupidly overpriced home in the last couple of years. No sympathy if it's a BTL, but for first time buyers and young families I do feel sorry
14 September 2007, 12:50 PM
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Yes I agree fast bloke, it has
It's been a long time coming, but everything is in place for it to be a pretty spectacular one!
The only downside is it's clearly going to spill over into the general economy so everyone will be hit, home owner or not.
I feel sorry for anyone who's taken out a big mortgage on a stupidly overpriced home in the last couple of years. No sympathy if it's a BTL, but for first time buyers and young families I do feel sorry
It's been a long time coming, but everything is in place for it to be a pretty spectacular one!
The only downside is it's clearly going to spill over into the general economy so everyone will be hit, home owner or not.
I feel sorry for anyone who's taken out a big mortgage on a stupidly overpriced home in the last couple of years. No sympathy if it's a BTL, but for first time buyers and young families I do feel sorry
14 September 2007, 01:01 PM
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Dont lie Pete, youve been jumping up and down for a few years waiting for this. You dont give 2 hoots if someone gets their fingers burnt
![[Davey]'s Avatar](data:image/svg+xml;utf8,<svg xmlns='http://www.w3.org/2000/svg' viewBox='0 0 50 50'><circle class='avatar-circle-default' fill='%23806b84' cx='25px' cy='25px' r='20px'></circle><text class='avatar-text-default' x='49%' y='53%' fill='white' text-anchor='middle' alignment-baseline='middle'>[</text></svg>)
14 September 2007, 01:11 PM
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14 September 2007, 01:13 PM
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Yes I agree fast bloke, it has
It's been a long time coming, but everything is in place for it to be a pretty spectacular one!
The only downside is it's clearly going to spill over into the general economy so everyone will be hit, home owner or not.
I feel sorry for anyone who's taken out a big mortgage on a stupidly overpriced home in the last couple of years. No sympathy if it's a BTL, but for first time buyers and young families I do feel sorry
It's been a long time coming, but everything is in place for it to be a pretty spectacular one!
The only downside is it's clearly going to spill over into the general economy so everyone will be hit, home owner or not.
I feel sorry for anyone who's taken out a big mortgage on a stupidly overpriced home in the last couple of years. No sympathy if it's a BTL, but for first time buyers and young families I do feel sorry
14 September 2007, 01:24 PM
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and people like my parents with so much disposable income buying extra properties so theres hee haw left for the younger first time buyers,i have no sympathy for them either.
14 September 2007, 01:31 PM
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There should be big tax hikes on 2nd homes, and I wouldnt be surprised if something like this was introduced soon. When house prices are collapsing anyway, then its a good time for the government to sneak a tax like that in.
[Davey] - people like you with lots of cash saved will certainly benefit from all this - good luck to you, but dont jump in too early! Wait for the market to bottom.
14 September 2007, 01:35 PM
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8%? Of what?
A £1m home yesterday, now £920k today, or a £200k property now £184k. I do not think so
Crash hasn't happened, its just steadied off!
As someone has said, houseprice now is what it was mid july. Hardly a crash
A £1m home yesterday, now £920k today, or a £200k property now £184k. I do not think so
Crash hasn't happened, its just steadied off!
As someone has said, houseprice now is what it was mid july. Hardly a crash
14 September 2007, 01:46 PM
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i have noticed (as i'm looking to buy my own home sometime soon) that the prices definitely are slipping in northern ireland.
Depending on the property some of them are dropping back to normality which sounds quite good to me
Depending on the property some of them are dropping back to normality which sounds quite good to me
14 September 2007, 02:22 PM
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Given that house prices have risen by about 240% in the last 11 years, an 8% drop in certain areas is hardly a price crash!
Not much sign of them dropping at all in the South East as far as I can see.
The fairly small 3 bed Chalet style opposite us just went for £275,000!
Not much sign of them dropping at all in the South East as far as I can see.
The fairly small 3 bed Chalet style opposite us just went for £275,000!
14 September 2007, 02:29 PM
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