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House Price Crash Forum


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Everything posted by Dicky

  1. Problem is most vendors aren't all desperate yet to sell and still believe their house is worth peak prices, so the very Agents who have hyped the market are now finding it difficult to talk it down as the vendor will only accept the highist price, so you will see alot of Estate agents in the short to medium going bust, or turning to the steady flow of cash from rental income commisions. But even thats drying up as most Landlords choose to do it them selves as yields are so low, which leads to even more Estate Agents going bust . Expect a flood of 3 series Beemers on the market in the next 3 months.
  2. The Nationwide's report used to include a breakdown of price changes for the whole of the country, look at Mays report. http://www.nationwide.co.uk/hpi/historical/CMQPRQ204.pdf Its a shame I was looking forward to seeing prices drops of 5% in the south, maybe next months might show the old format.
  3. That headline was stolen from my posting last week except I replaced "Land" with "Crash", to quote Viz "Theiving Gypsy B'stands".
  4. The bottom line is the BOE have called last orders at the bar, the current boom's over HPI is now going nose down, imagine an aeroplane which has IR's as it stababilers, lower it and the nose rises, rise it and the nose falls, quite simple, just sit back and enjoy the flight, we will be landing at airport 40% falls soon where we will be picking up some FTB's and BTL's.
  5. In the late 80's inflation was also very high 10%, so 4 years after buying at x5 salary your mortgage drops to 40%, isn't inflation great. Now there is no infaltion and rising interest rate, so lets not overplay the affordability issue.
  6. Maybe you could get Hutton to investigate when the crash does happen, He'll probably find FTB's lied on their mortagages form about their salaries, it's all their fault. EA's, banks and surveyors have nothing to worry about.
  7. FTB's currently make up 20 something % of buyers, it going to take an aweful lot of FTB's to stabalise this markets when it turns. Maybe BTL's will all jump in first to invest in a falling market. Oh is take a pig i see flying...??
  8. I think about 85% of the asking price is usually a good starting point and if they accept it too quickly reduce your offer and negotiate downwards, the boots on the other foot now sellers out number buyers. Don't be too concerned about offending the vendor they've got worse to come, its a tough world out there.
  9. Alert!! http://www.dsa.org/selling/pyramid.htm And we all know about pyramid selling schemes, for them to work you need a steady supply of gullible people, once that's stops the deck of card collapses.
  10. Any fall in interest rates now will indicated the economy is not in good shape which in turn will indicate peoples job prospects aren't too clever either, initially it might be welcome as peoples mortagage repayments may fall but for the general housing market it should be treated with caution and not a reason to celebrate.
  11. Also your savings in the bank are returning a nice 5% too, champagne and strawberries round, it's a win win situation . Commiserations to recent FTB's and BTL's who out bid me last year it must be awful for you .
  12. http://edinburghnews.scotsman.com/business.cfm?id=984592004 Officials said the new regulatory regime, which kicks off on October 31, had forced the company to get an updated computer system. Would that be the new computer system that doen't allow someone earning £15 p.a to borrow £150K, I wonder.
  13. Japan is a unique example, alot of people got shafted in the late 80's when the property crash happened, even 0% can't encourage crazy borrowing now. The same will happen here, interest rates will peak at 5.5% next year the, the BTL's will bail out , recent FTB's will start feeling the pinch , a sudden sharp correction will happen in the housing market triggered mainly by slight negative equity worries, consumers will stop consuming . Interest rate will then fall back to 2% but hopefull everybody will have leaned a jolly good lesson .
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