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House Price Crash Forum

Speed1987

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  1. I think people need to be careful, how they interpert what the media is pumping out. At the start of the pandemic house prices were gonna crash. In 2015 when I purchased my house, there were numerous articles suggesting a crash was imminent. Anyone who is familiar with the crypto space will be highly aware of how manipulative media can be. How different entities manipulate the prices. For example, if i was a bank buying up stock right now, I would want to remove competition from the market place. My interpretation, is that the government want to increase supply by forcing small landlords out. This may be because they plan on creating 100% mortgages, as they've already suggested. However they do not want a crash, particularly as they will be fighting for reelection in 2 years. A crash is absolute suicide for the conservatives.
  2. I don't really see how this resembles 2008... in any shape or form. Firstly demand is high, the population is larger than ever, mortgages are at much more sensible amounts.
  3. Yet why? As house prices are still rising, it appears to me they are trying to increase supply. I doubt all these equity release schemes, are handing out money believing they'll have a house which is worth much less in 10 years.
  4. Do you know Birmingham? I live here and understand the local dynamics. I'm not desperate, I'm simply pointing out that the properties you've shown were overpriced to begin with. White flight is a real thing and does impact the prices in areas. So you speak of me being desperate, yet your the one attacking my character, now that's desperation.
  5. https://www.primelocation.com/for-sale/details/58226655/?search_identifier=6c9ca7a2cde65d2430d75b80f1f12c28 Shit hole area, not worth 250k, again was over priced and still is imo. Literally 2 roads away and there are drug users galore and prostitution. Beautiful house though, but the area is awful.
  6. Some areas of birmingham have actually fell, but that's because of "white flight".
  7. Take this property, https://www.primelocation.com/for-sale/details/60888300/?search_identifier=6c9ca7a2cde65d2430d75b80f1f12c28 I know this street, drive down it evey now and then and that is not worth £190+ There's better on offer for 190, so the sellers are trying their luck, the market said no and so would I.
  8. I'm not believable? The majority of you here have rejoiced in the idea of a crash for the past 10 years.... Many thought covid would bring the long awaited HPC, but it didn't... I don't need to show you my local area, you can see with any meaningful interpretation of the data, that prices are not falling. Every month there rising, but let's ignore the data and clutch onto this tiny element as proof as crash is coming.
  9. These aren't reductions really though are they? These are idiots, who completely went over board. They are now gaining touch with reality. There are always overpriced properties... In other words there prices were to high, even for a market which has risen 20% over the past 2 years.
  10. https://www.proportunity.com/blog/zero-deposit-mortgage
  11. "neo-lender Proportunity has announced a zero deposit mortgage product, intended to help those who can’t raise the five per cent deposit on which many mortgage providers insist as a minimum." https://www.google.com/amp/s/www.standard.co.uk/homesandproperty/buying-mortgages/zerodeposit-firsttime-buyer-mortgage-proportunity-b1007558.html%3famp "The neolender provides equity loans to homebuyers, enabling them to afford homes with only a 5% deposit, reducing the amount they need in savings. The equity loans work in a similar way to the U.K. government’s “Help to Buy '' scheme, but is available for any home, not just new builds. The Proportunity equity loan of up to £150,000 or 25% of the house price, sits on top of the maximum mortgage buyers receive from a mainstream lender. The equity loan, in addition to the mortgage of up to 4.5x income, means buyers can effectively borrow up to six times their income, depending on their individual circumstances. " https://www.proportunity.com/blog/brilliant-solutions-adds-proportunity-to-its-lender-panel
  12. In my local area there hasn't been any reductions, rather increases. There is still less stock than 2019 and houses are still being purchased quickly. However, the government are definitely aiming to increase supply with their attack on landlords and energy efficiency measures. With the BOE loosening affordability checks, I expect the government will push out the near 100% mortgages just as it hits the landlords. I quite like their agenda, move a substantial amount of stock from landlords to the workers, starting just before the next GE. Although, I don't think they have much choice, cannot really see millennials voting Tory, unless they open up a easier route to home ownership. I don't see prices falling, rather a massive pump of 20% or more, over the next 2 years.
  13. I agree, although I don't think it will be low wage workers who are gonna get screwed, rather the middle class. The government has no choice but to raise the minimum wage, otherwise people simply won't work those jobs and the benefits bill will be even higher.
  14. Wages will eventually catch up... We are none of those countries, as we have a strong military and Americas backing. That's what really matters.
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