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House Price Crash Forum

munkee

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About munkee

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  1. I think for the north east there is a good chance of a crash to be honest, atleast down to 2001 prices. But at the same time as I said I believe it will be such a long drawn out process it isnt going to be something dramatical. I would love to see the ground fall away purely because of the amount of people on here waiting for the event but when reading back through posts as early as 2007 and then the big hurrah at the semi bubble burst in 2008 I think it is just so unrealistic for us to keep clutching at the hope ONE DAY we will see the HPC which keeps being predicted to be the end of this yea
  2. As hard as this is to say I just bought one of those. Well im in the process.. offers over 205k I have it for 198k. The area is decent though which is a plus side and the house isnt a complete shoe box (mainly the living room isnt which really bugs me about new houses and tiny living rooms.) It isnt my dream home, but at present I dont really know what would be a dream home given a realistic price to also aim for. I think my only motivation to do this is literally that we could be waiting another 2 years for the price drop to bite hard. The signs are all there, but then again we have been sayi
  3. I have to agree. Since the end of last year I have been telling friends/family it is inevitable that newcastle would fall flat on its **** and a crash was surely to start here. I was expecting this to be happening by now especially after the government public sector cuts. I used to work in the public sector a couple of years ago on a temp contract and I have to say they were having to meet a head count back then so god knows what it must be like there right now. I asked my gf's brother who works at the national insurance place at long benton and he seemed to think they have been told all of th
  4. I can really understand the anguish here. I have been in a similar boat since 2008 after leaving university. The housing market simply sucks right now as many would tell you but... I want a house. I have a girlfriend I want to marry and I have luckily for me a large deposit to buy with. As much as I have this push to go out and buy I know whatever I get now has to be something I am willing to live in for the next 10+ years. However as the rightmove november figures state there is no real incentive for anyone to be selling cheap unless you are trying to downsize before a redundancy etc. This
  5. I have to say I am with you on this one. I too have felt utterly depressed when looking at the house prices on rightmove. However, with that being said I am sort of forced to look. I am currently living with my gf's parents after moving for a new job. It is slowly wearing thin after having a place to myself previously. I am aiming in the 140- 170k price range paying with cash. However, the type of house you get for this money is to be honest utterly shite. I am now looking to take out a small mortgage to push my budget to 200k and I have to say the choice even there is few and far between. I
  6. Good to see the bbc finally getting in on the change in market http://www.bbc.co.uk/news/business-10915210 Coverage on the website and also on radio 1 whilst driving in to work. Funny to see how they play this with it clearly being obvious that whoever wrote/edited the article on the site was trying to discredit quite a few of the figures: Gives the impression that it is no longer on the pulse and there is a lot of mention of rising prices, regardless to the topic being disussed regarding lowered prices. However with that being said.. this was probably the most interesting part: A ni
  7. To be honest i think it depends on the price range you are looking at as well as the area/region. I am looking in the north east around newcastle and to be honest within my price range I am seeing a lot of falls. Seeing a £5k drop is the norm and I have seen a few £25k+ drops. Relative to what I am looking to pay for even 5k reduction is not bad at all. Since I will be buying with cash seeing a reduction like that is damn perfect. However with this being said, YES prices are still way above what they should. I went to look around the area where there is a property I'm going to be viewing soon
  8. I think one of the issues that does need to be realised throughout all of this is the ignorance of the general public. Considering we have so many ways to find out information about what is going on out there on the market joe bloggs doesnt overly care. The only people to reach the "fear" phase are those that are being directly affected. I would say to be directly affected you need something along the same proportions of: Losing your job People you talk to regularily losing their job and within the same sector (even then they would go home to the wife and just say oh yea blah blah lost thei
  9. Thanks for posting the report and I have to say after reading through and seeing that the north east has had a -3.4% change since this time last year it ties in very close to what I have been seeing of late. A lot of properties on my bee from right move have been dropping by between 2500 to 5000 especially as of recent. Taking the 3.4% off my price range which is about 175k that works out to be just over £5000 reduction. Definitely seeing the figures becoming fact.
  10. I often take a look at the ftse 100 during my break at work. Whether there is an economic recovery on the forefront or double dip imminent or the end of the world as we know it you really cant deny that the ftse 100 is actually becoming a bit predictable. As was stated in a previous post it appears news seems to come in chunks of good/bad in my opinion signalling no one has a slight clue whats going on. However with that being said you only have to look at the general trends of the ftse to make some sound asumptions (even if there has been mentions of this good/bad news trying to manipulate th
  11. This will be a very general observation but, does anyone else still find the NE specifically newcastle/gateshead areas still taking the utter piss for prices? Houses that are being put up for £200k, to be honest I wouldnt even pay 100k for. What world are these sellers living in? I'm currently looking up to £170k for a cash buy hoping to catch a top property dropping down in to some form of realistic value, but after some searching around and monitoring property snake there just seems to be no significant movement within 100k to 200k range. I recently placed a bid on a "offers over £150k" pr
  12. Parents over the course of my life have been feeding a bank account money for me as a "gift" which then got coupled with a very good house buy on their part when I was 13, all to dodge inheritance tax. They bought a holiday chalet for £35k which they rented out. They solid it 4 years later for £86k. With this money I bought a house in an auction near to where we live and did basic decorating / new kitchen / bathroom and made £15k out of it after a year. I then made a mistake during university buying what was a decent house for the money and proceeded to renovate in the same way. Then the crash
  13. I have been reading this forum for quite a while and after reading this discussion it sparked me to register and post my dilemma. I know there have been plenty of topics regarding "should i buy now or wait" but what the topic starter stated here is exactly the confusion I have. However, with that being said I have a suttle difference. I'm 24 with 164k cash in the bank. Its been sat there a year after selling my previous house at the mid point of the last "mini crash". I was very very very lucky to get rid of the house when I did and lost around 20k overall. All that I have in my mind is that
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