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House Price Crash Forum


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About stevejones24

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  1. No hope whatsoever of it reaching 52-week lows in the next month. Once it's in the news most of the bad news is already out. People like these just bring out these statements so that they can drive the market a little low so that it's easier for them to get out of their short positions. There's just as much chance of the pound moving up. It's been going down for weeks on end. This is old news. They are only stating what has already happened. They also state that the US is on the brink of bankrupcy. If that is true then the dolar will collapse and the pound will rise to all time highs against the dollar. If both the UK and US are in dire states and the Euro also has huge cracks in it, then there's no reason for them to move at all against each other because they are all basket cases. I think it's true that we haven't seen the end of the recession though. We haven't made any structural changes, just thrown money at the problem, which is what caused the problem in the first place. We need to get back to basics, but there's no hope of that.
  2. Yawn. Of course there will be public sector job cuts. If they got cut by 50% it wouldn't be enough. It should have been doen years ago. Thank god for the recession. At least a means some lazy public sector workers will get the boot. Every cloud has a silver lining.
  3. Those programs are meant to shock.The people they dig up are a very small minority indeed. And most people who have their houses repossessed deserve it. They overspend on everything and don't make any attempt to save for a rainy day. Anyone who buys a house should have enough saved money to be able to cope with being out of work for a year or so. Interest rates have dropped, so why can't these people afford their mortgage. Probably because they bought a ew car, spashed out on a holiday or spent it down the pub. If they made mortgage payments a priority they would be ok. And if they don't have savings they shouldn't be buying soemthing as expensive as a house. What you don't mention above is what the shelter figures are. Saying people with mortgage arrears has trebled sounds alarming. But if it has increased from 1 year to 3 a year it's next to nothing. We've had boom times, so arrears must have been very low. So if they have trebled they are probably still low. That's life.
  4. Marty - I live in London not Swansea. You would never catch me living somewhere like St Thomas. The Eastside is the pits. Overvalued crap with hideous people living there.
  5. A lot of you seem to be missing the fact that the UK has a sever shortage of properties and that shortage has got a lot worse over the last couple of years. So there is huge pent-up demand for properties. Also interest rates are very low and likely to stay low for some time. The economy isn't going to recover anytime soon, so interest rates will be low for 2 years at least. Plus with the £GBP at very low levels against other currencies, there are plenty of cash buyers around. I personally know one EA in London and 70% of the properties he's sold in the last 6 months have been to cash buyers from overseas. Prices may seem high to you, but to them they are getting properties over 50% below peak in some cases. They have never had it so good. Prices are rising dramatically in many areas of London. The shortage of properies in good areas in severe. You have to pay over peak if you want to live there.That's a fact. Prices in these areas won't crash. Too many people want to buy there and they have enough money. Even when I bought my property 10 years ago there were people claiming prices had peaked. There are always doom mongers predicting property price crashes. But housing has always been safe over the long term. Even if you buy at peak prices. It's the nature of our country. Yes, there are stpid prices in some places in the UK, but they are very easy to spot. Just compare prices. In Swanse you can get a 3-4 semi-detached property in a nice area, Very spacious, with parking and garden. Short walk to town and to the seafront. These got for £170-350K. Or you can get a 2-bed Barratt flat in a dodgy area, way out of town, in an old industrail area for over £200k. It's obvious to anyone with even a little common sense that the Barratt ones are double what they are really worth. Just use you common sense, and don't think that everything is overpriced and about to crash. There are bargains galore to be had.
  6. Spot on. I agree totally. If a house is worth £100K an the owner asks £120K, then according to the people on here he's being greed, stupid, etc. But if someone on here puts in an offer of £80K, then they aren't being greedy or stupid, they're bing smart. Well it works both way. If wanting £120K is being greedy, then offering £80K is being greedy.
  7. Why do you need to understand? If it's too expensive for you then forget it. You don't have to understand the reason that every person has for setting their price. Perhaps there is something different about this property that you haven't noticed. Perhaps there isn't. It's a free country, so the seller can ask whatever price he wants. It's called a free market. Either it will sell or it won't. Forget about it.
  8. I think there are too many smug posts on this forum that mock people who bought at the height of property prices. It's almost like you hope they will lose money and get their property repossesed. Most are just honest people who need a place to live for their family. They don't follow prices and just see buying a property as buying a home, not as some speculation or a justification to be proved right or wrong. You lot were all doom and gloom about 2009, but it turned out ok. Most of you have no idea what drives property prices, even though you love to act all smug.
  9. So now people are going into sandwich shops, not to buy sandwiches, but to tell the staff that they don't have any money. How strange. It's also strange that people don't have any money. Nearly everyone I know is much better off at the moment. In my case my mortgage payments have dropped from about £1200 to £700 and my property is above peak value of 2007. Most of the people I know have mortgages and they are all paying less, so are quids in. None have lost their jobs. The reason you lot probably don't have money is because you're still wasting your money on rent. My mortgage is £700/month. To rent my place would be £2,000/month. That's the real difference between renting and buying.
  10. Why don't you lot just buy a prioperty and get on with your lives instead of wasting money on rent and stressing about house prices all the time. I know a guy who sold his property around 2003-4, because he said prices were overvalued and he was going to buy back at half the price when there was a price crash. Well even after the price crash, the property he sold is still worth double. And he has wasted his money on rent for the past 6-7 years. He now realises that he may never be able to afford to get back on the property market. If you need a home to live, just buy one. You will be there for a long time probably and it will go up in value over the long term. It's pointless worrying about the odd 5-10%. I bet most of you have wasted more in rent than you will save in getting a cheaper property. Obviously avoid the really overvalued ones. But there are many properties in Swansea at bargain prices. I mean big 3-5 bed homes in Uplands/Brynmill/Sketty. I can't see them getting much cheaper. Most of them don't have high mortgages. Most have been lived in for years. There is no pressure to sell them at all, as they are good for rental income. You are deluding yourselves if you think these types of property will crash in price.
  11. You are off your head if you think people in London get £100K a year for building websites. Jobs like that in London pay £20-30K, sometimes less. In any case, most people would get this work done in India, Pakistan, Russia, Romania. Why would they use Swansea?
  12. Even if the Tories got rid of hips they may not do it right away. They will have plenty of work to do when they are first in government. I can't imagine hips beinf scrapped right away.
  13. Swansea is a fairly poor area but richer people come there to retire. They have money, so that pushes up the house prices. But prices seem to be ridiculously high in places like Townhill, Mayhill, etc. But if you consider than many buy them as buy-to-let, they aren't so expensive because the rent is paid by the council/government.
  14. There is some utter crap written on these forums by people who have no grasp on reality. The reason not many people are selling in Swansea is because they live in family homes. If they sell they'd have to buy a new place, so why bother selling if they like where they live. Swansea is the sort of town where lots of people are quite settled. If people bought for £30k, no-one would lend them £100K when they property rose in value. I know plenty of people that bought when houses were cheap and they haven't taken equity out. They have just paid down their mortgages. They have nice cars because they have good jobs. Lots of people work in Cardiff. Try thinking about what you're going to post instead of just repeating the crap you hear elsewhere. Yes prices will fall a bit. So what? That's how the property market in the Uk works - in cycles.
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