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House Price Crash Forum


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About D179

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  1. In respect of wage inflation, personally i think it has started to happen recently. in respect of previous bubbles vs this one, well you could argue that is has burt but not as severe as we all beleived it would. As for propping up, I see holding IR as long as possible is doing the trick. I agree they will go up and I agree prices will come down. I just do not agree with half the people on here who beleive they will wake up tomorrow and find all asking prices in their area have dropped by 20,30 or 40% thats all! Nobody thought that a soft landing was possible, nor did I, but three years on and that is what has happened.
  2. And we can all pull linked storys to support our view. My point being is that no matter how much things should change, and in certain ares they are, we must also keep our eyes open to the reailty of the situation and not just the wishful thinking side or by pinpointing one point in history as the beacon of things to come. It may do but the longer this plays out I cannot be the only person thinking that it may not! It just seems obvious now that they will do anything to support the mess created.
  3. but there has been some correction both nominal and real, as before. the one major thing this time is not just UK policy but worldwode policy due to increased globalisation, somehting that did not happen in the 1990's. I do think prices will decrease slightly but inflation is doing the real work. It is unfair those with debt up to the eyeballs have been bailed out, but maybe the rest of us should have been braver and had a more carefree attitude years ago! An example of this is that over the priod I was renting, nearly three years just prior to crash up to March of this year, a friend of mine managed to sell a place he purchased pre-cras as a rennovation, hold on ti it, clear £40k profit. He also is just finishing a project of a place where he will clear £200k. All that time I was bleating but how the wheels would come off, maybe he should sit tight etc, and now I look a right d**k! I just think waiting for asking prices to come crashing down is a dangerous game, the best of both worls can be had by offering on places at a price that is reasonable. Lets face it, many on here now with hindsight would have brought a few years ago when the crash actually happened.
  4. I have said before, but how can we predict what will happen by looking back at only one snapshot in the past? is it sensible to look at the 1990's and compare what happened then and say well thats the norm it will happen again. Of course not, what makes the 90's crash 'the norm'. There are so many variables to consider that it is just to simple a view to compare. Also the whole thing on lending multiples etc is a dead end, again what makes historic lending mulitples the norm? At best you can make an informed judgement on what you think based on historic data, but that is different to being correct on the outcome. This has been proved by the propping of the market thus far. it is so obvious now that inflation has been chosen, we just are not going to see the massive falls that should have happened with such low IR. In my humble opinion.
  5. For that money it will generally be a one bed, a two at a push. Crawley is actually ok has good transport links easy into london. Prices are relatively low in comparrison to some of the other areas you mention. there good bits and bad bits. it has its problems but to be honest they are often over-hyped. Haywards heath is nicer but will be a little mor etricky to get what you want.
  6. My prediction is another 5%, but some areas will hold up better than others. transactions will fall while interest rates remain low, cash rich will by good properties, rubbish will sell low and the whole system grinds to a halt. If a crash comes I guess it could be triggered by wider problems in Europe and credit squeeze then a majory may find it difficult to get a mortgage. My view is that waiting for lower asking prices is the mistake, offering and bargaining on houses as a slow crash pays out may give the best result?
  7. This development is not indicative of the woder Horsham market. It has seen some flls recently, i was looking at places there early in the year and prices have slipped since then but it depends on which part you are looking at. I have noticed some of the larger exec houses are slipping too, but IMO the mid level well finished period or decent semis may hold up up slightly better. Nice place Horsham with countryside on your doorstep.
  8. Nice one, congrats. i jumped in and have been in the house a month, rear extension walls up but living in chaos with dust etc.... I do feel better in one way knowing I made a decision and we love where we are (a very pretty village) on the other hand I know as prices fall the devil in me will be p*ssed off. One thing I would say is once the decision has been made then you seem to worry about it all less in funny sort of way. We paid about 10% off peak, athough at peak the house was not in great condition. Attached neighbours house who is in good condition and a larger extension but no off rd parking like ours recently went for 50-60k more than we paid. We are lucky that the house is a nice size period semi, with 180-200 ft garden (with workshop), its not a place we would have to move from...providing we can afford to stay Good luck with your move.
  9. Yeah I do agree with comments re costs. But the point I was making is that my budget will do the things that need to be done and it will be a nice place, decent size lots of garden, period house. But my mate was happy to try and convince me to overstretch and try and get the extra money to extend larger, loft conversion etc "no mater what". Considering it is a 3 bed house with us two and no kids (yet), I was astounded that the beleive that you should plough everything you have (or dont have) into the house to make it 'perfect' still exisits.
  10. To be honest , it doesn't end when you buy a house. Just moved in and was telling my mate about what I was gonna do to the place, about 20k's worth. He then was telling me what I should do extend this, extend that prob another 35k on top and that I should try and get the money no matter how.
  11. Mate of mine has 12 of them, and they are Fitted out very nicely mainly for airport staff. Does very well high occupancy etc. He never really understood normal btl model although does say any more than a couple of HMO ' turns it in to a full time job and not for the faint hearted.
  12. D179

    I Have Exchanged

    It is a house to stay in, 1900 built semi, rural village locattion (sought after area), large garden, needs a little work having a small extension immediately to create a bit of a kitchen diner., purchased at 10% below peak (couldnt get any more off). I hope to be in the house for at least 5 years or maybe forever, it has growing space.
  13. ok, after 5-6 weeks we have exchanged contracts, been relatively pain free. I will be looking in on HPC as I find the whole thing interesting not just HPC but general into on many matters. Also this time next year I will do an update on how much my purchase has panned out, cost me or not cost me at that time, how much Ive won, lost or cried!. it may provide intesting feedback and it will be honest, honest! Good luck to those looking to buy, thinking about buying be it now in 1 year 2 years or 5 years.
  14. I have been looking and there are some good deals now , vw polo with free insurance, free services for 3 years . Fiat offering discounts plus low rate finance. We need a cheap low running cost motor.
  15. I have been looking and there are some good deals now , vw polo with free insurance, free services for 3 years . Fiat offering discounts plus low rate finance. We need a cheap low running cost motor.
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