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House Price Crash Forum

reign1

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About reign1

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  1. I know nothing about economics so I rather keep my mouth shut - it's politics where everyone is entitled to a view... Having said that, your point about the vicious circle makes sense.
  2. I am not making any predictions, because I am not qualified to do so. The point was this: prices are falling because most buyers cannot afford asking prices, not because they are no longer prepared to pay high prices. Put the money back into the system, and people are likely to go for it as they have done for years. Of course, the question is whether central banks, lenders, etc can put the money back into the system - it's not as if they are not trying.
  3. I don't know anything about credit cycles, but if it weren't for the unavailability of mortgages, wouldn't buyers not be driving up prices by taking out massive loans? The point is this: if the majority of buyers don't pay inflated prices because they - that is their lenders - cannot afford the loans, doesn't that imply that once huge mortgages become affordable/available again, people will be prepared to pay inflated prices too? Despite the talk about changes in market sentiment, I am not sure whether the mentality about house-buying has really changed. As long as people are prepared to take on massive debt, they will do so once the lenders can make that money available. The end result, therefore, is that the crash may last only as long as there is a lack of money in the system. Surely, this is not the only factor driving house prices up or down, but seems to be a significant one.
  4. Exactly: assuming that "cheap money" does become available again, what is going to prevent the market from picking up again?
  5. why is a houseboat a 'recreational watercraft', anyway?
  6. I am sure Cornwall has its share of problems, but it also has its fair share of attractions. I have lived in central London for a number of years. Stayed in London recently for a couple of days and hated the noise and pollution. I am moving to Falmouth with my family and I am absolutely looking forward to what the sea and countryside has to offer. Cornwall seems like a brilliant place to bring up small kids.
  7. OK, PM didn't work out - may be might fault though. I googled "west briton" and found the local classified page. There are actually two ads there which sound promising - might give them a call. Thanks again for the advice!
  8. Hi Neil, I am currently located abroad, so I have been looking mainly on rightmove. I am travelling to Falmouth next week, but right now there are only about 3 houses advertised that look remotely interesting... I am glad we turned this into a short family trip, otherwise I would just be wasting my time. Thanks for the tip about the local paper - I'll PM you.
  9. Yep, that's another valid point I have been thinking about. It seems that the prices of some properties in the Falmouth area are going to fall quite a bit. In fact, some new build flats are falling already: http://www.rightmove.co.uk/viewdetails-881...=1&tr_t=buy (down from Ł270.000). On the other hand, it is possible to find reasonably nice houses for not completely unreasonable prices. Assuming there is a nationwide fall, I expect these properties to preserve more of their current value (more than a London flat, anyway). Which is why I have not ruled out buying completely. I am selling a property abroad so luckily I wouldn't need a mortgage - otherwise I would definitely not buy. Basically, I am trying to work out which will cost me less: STR or cash buying in the near future.
  10. Yes, that may be a factor. I also suspect that many of the 3+ bedroom properties are let to students. I originally toyed with the idea of buying given the lack of suitable rental properties. I have now decided against buying, in principle, partly after stumbling across HPC.co.uk.
  11. Hi, I am moving to Falmouth this summer to start a job there. I've been following both the rental and the sales market for the past couple of months. One thing that struck me is the small number of nice, 3/4 bedroom family homes (garage, garden) available for rent compared to the huge (and growing) number of such properties available for sale. Does anyone have an explanation for this? Is this a seasonal thing? I am not sure whether I should rent the first house that comes my way, or wait in the hope that more rental properties, including perhaps more suitable ones, will come onto the market over the next few months. Thanks for any insights! [Edit: sorry if my question is a bit off topic - though there is an obvious link between the question and house prices in Falmouth]
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