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House Price Crash Forum

MarkD

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Everything posted by MarkD

  1. Bit of a Mexican standoff really. What if the US raise rates? Who will be the first to draw!
  2. It is said ‘attack is the best form of defence’, and hence Blair is on the attack. He’s not stupid, insane yes, but stupid no!
  3. House prices are up😂I'll get me coat.
  4. It’s unimaginable. ‘Normal’ rates at this point would be absolute carnage. It happened last in the early 90’s, long forgotten now, aside from those who lost their houses…….
  5. Mate just sold his mother's house. Valued 2 years ago for probate at £225, put it on the market at a cheeky £295 asking, sold it for £301. Nice little house, but nothing special. Sold it within hours of going on the market.
  6. I disagree.’Temporary’ means there’s no need to put up interest rates😏
  7. And there you have Fred Harrison’s reasoning for a crash. Money goes to mortgage and rent payments leaving very little left over for the wider economy. Ultimately the economy is starved leading to recession. 2025 is game over, according to Fred, and from what I can see he’s spot on.
  8. Today’s news - People advised to prepare themselves for big increases in utility bills. Temporary? I think not. Not inflation? No, just high prices. Pensioners advised to go hungry cos they probably won’t get an increase (triple lock), reason being ‘it’s temporary’!
  9. “Temporary”. Let’s hope so. I just filled the car up, £1.40 a litre.
  10. It’s like a thunderstorm. You may have all the ingredients, but no storm. Right now we have all the ingredients, but where’s the trigger action? For a storm to develop there needs to be a trigger. I can’t see one, so no crash.
  11. “What will cause high inflation”. Timber is up 45% so far this year, and many other building products the same. Not a question of when, high inflation is already here.
  12. Agreed. I’ve kept the premium bonds, but without taking some risk money presently ‘saved’ will evaporate due to inflation. Guess what………your money’s safe in bricks and mortar! i’ll get me coat😄
  13. Took money out of NS&i and put it into a wealthiy.com account via TSB. Looks interesting, but obviously an investment rather than savings account. How NS&i can describe their accounts as ‘savings’ accounts is beyond me. They should be prosecuted under the trades description act😀
  14. You've cheered me up no end. Nice to know I'm not the only one who thinks this way! 😄
  15. Isn't this the 'helicopter money' everyone's been predicting for years?
  16. Basically a solid house, no major issues, but it will need some money spending. If they chip him a bit he won’t stress. Happened to me on the last one I sold, but then I did get over asking! Ironically I thought I’d done well (sold in 2017), because I was certain prices were about to tank. Just shows how wrong you can be.
  17. Second that. We looked a moving there a couple of years ago, prices are insane. There was a massive influx from London. As a result prices took off. If they fall by a couple of percent it won’t make a lot of difference, they’ll still be way up there.
  18. That’s essentially what has happened. The agent has said to hold off and see if there are any more offers. Essentially a Dutch auction. Don’t know if they viewed or not. Hope so cos it needs a bit of work!
  19. Oh, and I forgot to mention, it was valued for probate 2 years ago for 225,000. Crash? What crash!
  20. Mate put his mother’s house on the market this morning, ‘guide price’ 295,000. Sold this afternoon for full asking price. I’m not at all surprised there’s nothing else on the market. Right now buyers outstrip sellers by quite a margin. One agent told me 5 buyers for every property. Another described the present situation as “madness”. Something has set the market on fire, seems the stamp duty holiday coupled with low interest rates etc. have lit the fuse. All very irresponsible, one way or another it’s bound to end in tears.
  21. Traditionally government meddling doesn’t end well😄😄😄
  22. Thought not. Leverage isn’t really a problem. Low repayments spread over 25 years, manageable. An extra 5-10k from your ‘savings’ ouch!!! Unlike many I don’t drive around in a flashy new car cos I know I can’t afford one, but then I always pay cash for my cars, always have done, always will.
  23. Can you borrow to cover the stamp duty? Never used to be the case, the mortgage was only ever against the property.
  24. This time he's written to Boris and Sunak https://www.thisismoney.co.uk/money/mortgageshome/article-9601221/The-18-year-property-cycle-tips-house-price-boom-crash-2026.html
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