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House Price Crash Forum

CleverBear

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Everything posted by CleverBear

  1. I dont think we will get a crash. No rises in some time. House prices are alot cheaper than 5 years ago. That is a long time. I am hoping for steady falls in the later half of this year and will then probably look to buy at the turn of this year.
  2. Remember this is mortgage approvals. To beat the stamp duty point you would need to secure a mortgage at least in january to make sure you can exchange or complete before the deadline. Pretty pointless getting a mortgage in february for the sd holiday that is due to end in a month or two
  3. 'In February house purchase approvals dropped back to more normal trend levels as demand from buy-to-let investors and first-time buyers, seeking to buy before the stamp duty exemption ends in March, fell back,' the BBA said
  4. ANyone see how low the mortgage approval figures were today? Pretty good leading indicator of the housing market. They were 33k which is VERY low. Maybe 15% below what was expected
  5. Absolutly. Basically the government have done their part. They have propped up the housing market long enough for the banks to repair their balance sheets and for people to pay down their mortgages. They are now out of options as they need to get the deficit down. And housing is easy to tax so its an obvious thing to do
  6. Not me. But let us look at the facts: 1, Stamp duty due to rise soon for ftb 2, Stamp duty on big properties to go from 0.5% (often) to 7% and the chancellor has said he will apply this retrospectively if people try to be clever and get around the charge! 3, Mortgage rates are going up and up. Even though the base rate isnt 4, Inflation is still above wage price inflation (by alot) meaning that peoples ability to service mortgaging is still decreasing 5, There is the added uncertainty of a mansion land tax being introduced "in the future" 6, unemployment continues to rise 7, bank lendi
  7. If the budget is fiscally neutral then I cant see this being the case. They will have to introduce it because it widely popular. And they will have to compensate for the 50p tax rate thing.
  8. Well it doesnt hurt. Put it that way. I think it will have a good effect.
  9. It isnt at all too high. This is the best idea that politicians have ever had. I am in shock that they have the guts to do it. FInally all those wealthy foreigners will have to pay to live in london
  10. We have to wait till may the 1st for the halifax mortgage increase. Should help a housing price correction though
  11. Banks are having to offer crippling rates to savers (yes its still rubbish) just to get deposits. They are trying to offset this with charging more to borrowers. This thread is more great news. More banks will follow soon More new head winds for the housing market. Looks lik this year could be a perfect storm
  12. These things take time to happen people. If the housing market falls 2% next year I will be a happy bunny. Meanwhile my house fund will go up by 3% minimum and that will be close to a 3% increase in affordability in 1 single year. Not bad at all. The housing benefit cap, the government now starting to cut its defecit and banks starting to raise interest rates on existing mortgages = housing will decrease. Most crucially unemployment is rising. So all in all, have faith that the house price correction is happeneing and will continue to happen. Of course those of you in london are effectively
  13. For those of us wanting a house price correction I must say: YESSSSS! This is the best news we have had in probably 2 years. Finally mortgage costs are going up and this will make people more willing to sell or more likely to have to sell. Great news
  14. Yeh but have you read all the papers. If not and your reading is in newspapers then you know nothing about it. You have to read primary sources of data. You have to read the papers and read the bill and understand how the health system works. Not many people in the uk can do this or have done this.
  15. Am I the only one who doesnt care about this nhs bill. I have no idea whats in it. I suspect 99% of people are the same as me and have no idea. Yet most of them seem willing to form opinions on it despite having no knowledge about it. I dont have an opinion because I dont know anything about it. Those people who heckled lansley on the news were funny. Just completely rude and disgusting people. I dont care about tory or labour...in fact I am probably left wing...but the only political view I have is that people who dont have a clue about things dont insist on shoving their rubbish down my thr
  16. Agree the main forum is so full of junk nowadays. Its meant to he HP and the economy. But instead it ends up being a home for loonies discussing unrelated consiracy theories and foreign policy.
  17. Wow is this what it is? Yeh thats about what I would expect. You can probably add a % point for people on here who generally will be buying better property than just some council flat.
  18. But am I giving advice to everyone? Dont be so silly. Its good advice to have savings but if everyone did then the economy would be shated. There will always be idiots who make bad decisions. Those who are willing to educate themselves can make good decisions by capitilising on other peoples foolishness. And I dont care about my grammer on an internet forum. This isnt the 1960's. I dont have time to waste getting my sentances to have perfect grammer and spelling.
  19. Dont really get this thread. If your so obsessed with owning your own home then of course you should buy. You only live once. If however your not a sheepie and your whole life happiness doesnt revolve around "owning" your own home then dont buy. Because you will be able to buy cheaper in a few years. Prices are still going down even in nominal terms.
  20. Bigger discounts this year than at this time last year and the biggest discounts ever recorded according to the ft. Zoopla is saying that sellers are coming to terms with the reality of the market. Sorry if this has already been posted. ANyway. Very nice bear food
  21. SA is important but has been skewed in recent years because of volatility in the market. For example we went from +10% yoy to -15% yoy and back to +10% yoy. Depending on the timing of trend changes really does mess up the SA figure. Its better to look at YoY or QoQ (SA) imo
  22. -0.4% is my prediction. Maybe more. Confident about a downturn in the housing market to be honest. More so than over most of the last 2 years. Unemployment is finally on the rise and pay increases are very low and much lower than inflation. LEdning still constrained too.
  23. God i forgot bout service charges. Man owning a flat is retarded.
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