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oatbake

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  1. Starting to see a steady flow of "reduced todays" on Rightmove when I do my daily check and new areas which we were previously priced out of are starting to appear (albeit homes at the grottier end of the scale). Got two viewings tomorrow and both are no chain / empty so I will interrogate the estate agents for the latest gen re: market conditions. It's also suddenly a lot easier to get estate agents to call back and to make themselves available for weekend viewings...
  2. I'm reading that it has officially defaulted although admittedly not yet in a source that I am familiar with... How much of a mess will this make if that happens? Did somebody say "contagion"?
  3. I thought you had to complete by the end of September to secure the stamp duty discount?
  4. Likes like they are judging by the number of chain free / HMO homes coming onto the local market in my daily Rightmove search. Must be approaching 40%!
  5. A lot of money can be made in a cyclical market. Perpetual HPI is not the most efficient way to fleece the proles.
  6. Sentiment is everything. As soon as we see some regular, solid falls, across the board, the UK housing market is done for. My personal "it's happening" indicator will be when the Daily Express front page has a headline about a possible crash. Then I will know that it is on.
  7. If governments could so easily just print money / allow inflation without consequence to their chances of re-election, why have rates ever been higher than 0.1%? It's time to pay the piper.
  8. I have actually. They normally just point out that their tenants could not afford to buy them (at the price they want). At some point the penny will drop...
  9. The key had always been *wage* inflation. That is when things start to become slightly more urgent? I think we will see when inflation this time.
  10. Interesting. There is an argument being made that banks can do well out of people getting into difficulty with mortgages etc, especially at a time when some of them (Lloyds I think?) are thinking about entering the landlording business. The plan may be: 1. Increase mortgage rates. 2. Home values fall as new buyers cannot afford increased rates. 3. Existing customers cannot make payments to get back to the required LTV for their fixed rate deal (off the back of the fall in value) and so are moved onto SVR - I understand this is possible and that fixed rates are not as fixed as some people think... 4. Customer gets into financial difficulty on SVR. 5. Bank steps in. Customer can stay in their homes but become tenants of the bank instead of "homeowners".
  11. Have we had a Black Friday thread recently? I've been away...
  12. Some interesting commentary here from political YouTuber Jeff Taylor suggesting that it could be in banks' best interests for house prices to crash...
  13. I'm in the fairly unique position (for this site!) of actually trying to buy a home. We've put in two very decent offers on two different homes and have been outbid both times. We're would-be FTBs with a good deposit so would be attractive to vendors I'd have thought. We're talking a break for a couple of months (at least) as it is just too crazy at the moment. Feels like homes are going for silly money at the moment. I would guess prices have gone up by ~5% this month (Yorkshire area). That said, the stamp duty holiday finishes today I believe. My view/hope is that it will be a totally different market in a couple of months, with prices to reflect!
  14. .. And vendors are a little more... flexible...
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