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House Price Crash Forum

richiep

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About richiep

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  1. The entire situation in and around Salisbury is depressing.. Awful poor quality housing stock at crazy prices... Houses not selling or reducing in price. I am beginning to lose all hope!
  2. Predictions for the next 12 months? The government using the media and all other vested interests will continue to talk up the property market until the general election while all around us falls apart. Deflation, low salaries and job losses to continue. House prices to fall a further 20% on average. rents to fall as well by a smaller amount. repossessions to increase dramatically The vast majority of crap housing stock in salisbury to remain crap Nice well constructed houses in good locations to sell easily Clever people to continue to rent and consolidate what debts they may have thats it!
  3. do we really think that now is a good time to buy? now is the time to realise that we are on the brink of financial meltdown in the property market.. house prices can never return to peak levels when people are losing their jobs and the economy is in freefall.. that is a simple, basic economic principle. IT would be a very stupid person that buys a house at the moment in salisbury unless they pay cash and get a very large reduction. there soon will be no major employers in salisbury.. the only people buying a decent house around here will be the few cash rich older folk downsizing or just splurging out cos they cant take the money with them when they die i am sorry to repeat myself but i do not simply understand why we all chain ourselves to a mortgage for our lives when they is a better way..
  4. my god. just looked at the portway brochure. Stuck in the middle of nowhere. utterly disgusting, poorly built, etc, etc i am thoroughly depressed
  5. SORRY- AM I MISSING SOMETHING? WHY WOULD ANYONE BUY AT THE MOMENT? I CAN THINK OF NO REASON AT ALL
  6. Great debate guys, just a thought.. why on earth would anyone buy a house in the 250-300k bracket? Just for fun 18 months ago i offered 249.999k on a new build in alderbury on the market at a hilarious 325k. It eventually sold 6 months ago at 255k. The builder held out for 12 months for 6k... and the purchaser paid the extra stamp duty!! These new build houses are such poor quality cr*p! I believe there is very little worth buying at the mo.. just keep renting and the crash (the real crash) will come
  7. spyguy, couldn't agree more. Salisbury is soon to get a big wake up call.
  8. Hi Everyone, I have read all your posts and I strongly believe that buying now would be a huge mistake. You have all said that nothing is moving and prices are not being reduced. BE PATIENT SAVE MONEY AND STRESS THE CRASH HAS NOT EVEN STARTED PROPERLY. THINK HIGHER INTEREST RATES AND INFLATION. THAT USUALLY DOES THE TRICK FOR ME. The truth is that there is an immense amount of awful housing stock in and around salisbury which is terribly overpriced. Do not for one minute think that developers are going to start building in this climate. Even if you think you want to buy a house- don't!! By the way, i speak as a sold to renter in salisbury with a sizeable deposit depreciating in banks- better that than investing it in a house which will fall in value even faster. I will eventually buy a house when the correction comes. That will be 18-24 months time.
  9. Hi Babnye, I have been renting in Salisbury for 4 years. I almost purchased a house in petersfinger two years ago but thank god I pulled out now I can see the park and ride behind tesco under construction. Having rented three different properties in 4 years I can say that the cost has remained the same +/- £25 for a two bedroom house- around the £700 mark. There is a lot of opportunity for haggling with landlords as the market is saturated with 2-3 bed rentals. as far as house prices go I have seen plenty of new builds in alderbury finally register as sold some 20% below the original asking price. This I feel is the minimum one should offer on any property. Most properties are just not selling or are being taken off the market altogether. I have seen the same properties on the market for 12 months without any drop in asking price. Unfortunately, anything remotely nice, near the forest etc is still on ther market for over £500k (3 bed!). The way I see it , renting is the only option for the foreseeable future. There is no access to credit/prices are ridiculous/the country is bankrupt.. There are so many reasons not to buy at the moment. I cannot bring myself to mortgage myself to death just to live in a overpriced box. All I am looking for is a 3 -4 bed house to live in for many years but I cannot find one. Renting rocks!!! When unemployment finally kicks in I predict a major correction in Salisbury. Who on earth would pay 1.87 million to live in a new build in alderbury??
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