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House Price Crash Forum

andikay

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About andikay

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    HPC Newbie
  1. If you want house prices to fall then you shouldn’t rent or buy. The problem I see is that prices for first time buyers rose out of control because of competition for the houses they could afford; most of this competition came from the buy to let investors that are blamed in part for house price inflation. If you now rent the house you would like to buy all you are doing is helping to keep prices high. The only way to take buy to let out of the housing equations is if no one rents from them. House prices would crash quickly If every potential first time buyer refused to rent or buy.
  2. QUOTE (cabbagepatchkid @ Feb 16 2009, 11:05 AM) No one has provided any reasoning as to why rates should be higher right now. The reason our government think we need low rates in my opinion are, We have had a good global economy for many years peoples personal wealth as appeared to be very good, this was mainly based on ever growing house prices which rose as a result of lax lending. The growth of the world’s economy was based on dept. As people started to default on the dept they could never afford the economy of the world inevitably started to collapse, this cycle will continue it’s down word trend as more people lose their jobs and default on their depts. This answer as far as our leaders are concerned is to make dept cheaper allowing more people to borrow more money in the hope this increases consumption. The problem with this is if our economy grew because of dept and they are using dept in a vain attempt to keep it growing, eventually it as now where to go but down. Governments are very short sighted and only seem to look forward as far as the next election. Interest rates need to rise this will cut debt and consumption, it will be painful getting back to a sustainable position where people save for what they want but can afford what they need.
  3. The Financial Services Compensation Scheme as always protected savings up to a limit you was one of clever ones that got their money out in time. Well done, good call, the problem I have is not with you it with the government for using taxes to bail out the one that were not as smart as you.
  4. I’m an home owner on below average wages with saving ready to buy a better house, I placed my money in easy access accounts in the knowledge that my returns wouldn’t be fantastic but in banks where the money was guaranteed safe.(NO risk). The problem I have is my taxes are being used to help reckless borrower that had a contract to pay the money back in the knowledge that if they didn’t they would lose there house. My taxes are also being used to help reckless savers that put their money in riskier accounts like the Icelandic banks, again to get better returns but in the knowledge that there money was not safe. There is only one person to blame for all our problems and that’s the man that encouraged people to borrow ridicules amounts of money so he could gloat at how well he was running the economy.
  5. 148 for sale now and still not selling!
  6. I live near rotherham, South Yorkshire, over past 12 monthe properties for sale have increased from an average of about 70 to 140. Prices apear to be stagnent or falling, seen one resently that as just sold for 10k less than 2 years ago.
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