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House Price Crash Forum


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About simon49

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  1. Im sure there would be a few buyers for a reduction from £375k to £350k, but not many. Most will wait for any potential further reductions. A rising market appeals to buyers who want to jump on the band waggon before the next price rise. This is partly what fuelled it in the first place. On a falling market the opposite works, most will hold off , the £350k house that might soon be worth £325k doesnt have the same appeal. Banks are much less willing to lend money to buy the £350k house on a falling market than a rising one, even though its the same house. I dont think high interest rates are coming anytime soon, but the market can crash without them. If a sudden and unexpected hike in interest rates left some people unable to pay their increased mortgages, then the same people loosing their jobs leaving them unable to pay their existing ones would broadly have the same effect.
  2. Because house sale transactions take such a long time to go through, when the sellers finally realise that the market is slipping away it will be too late for them to bail out at the levels they expected. At the same time a falling market will make buyers back off and wait, not rush in. At the moment sellers are convinced the goverment is behind them propping prices up, which they are, but the minute this support stops and gets diverted to a more important cause, then the whole market will collapse very quickly, sellers will be powerless to prevent it.
  3. A lot of the problem with the pubs now is that they are having to place barriers. You have to book to go in, give your personal details to go into some sort of an app, you can only pay by card in many, even using the loos isnt straightforward. When I go out for a drink, I like to leave my phone and glasses at home. I cant see who on earth wants to put themselves through all this.
  4. Ive checked the NS&I website, and whilst the interest rates are lower, they still guarantee 100% of your money is safe. Which is a good job as most of my savings are there.
  5. In York area house prices have quadrupled or even more in that time frame. They still seem to be rising unfortunately.
  6. Gazundering is used when you realise youve offered too much in the first place. Im all for it as it helps lower these ridiculous prices.
  7. That would actually work well. Far too much further education forced onto kids just to create low unemployment figures. As an employer it is really frustrating when we cant get staff because of this.
  8. It has the potential to be the big one, especially with a muddled brexit behind it.
  9. Instead of building more houses, there is an easier, quicker and cheaper way. Why not offer immigrants a fixed cash sum for vacating their house and returning, permanently to their home country. If you paid say £5000, that would be enough for them to buy a house in a lot of poorer countries. You cant build a house here for that ammount so it would be win win. There would have to be an end to freedom of movement first as the vacated house would just be let to other immigrants.
  10. Poundland going to go soon, some suppliers are taking ther goods back apparently, which isn't a good sign.
  11. Poundland wont be around for a lot longer, a good source tells me a lot of peoplecwont supply them now.
  12. I'm sure the stamp duty changes will give a sales to the sub £300,000 part of the market, but I wonder if it will have the opposite effect to houses priced at say £400,000, will it not drag the price down to the £300,000 level if things get desperate. Could the same thing not apply to a house priced at £600,000, dragging the price down to the £500,000 threshold. If the cheaper house have to compete with better properties heading downwards will they not head downwards too. Perhaps this could actually work in the opposite way to what was intended.
  13. Signed, the countrys credit rating has just gone down another notch according to the news. Perhaps that will put an end to HTB.
  14. The government loosening its grip on public sector pay, combined with the statement from the BOE has made investors think a rate rise, or series of them, is coming. I also believe it this time.
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