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House Price Crash Forum

conifer

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Everything posted by conifer

  1. I know it's all over other BBC outlets and was on earlier Radio 4 news bulletins, but it's still very odd it wasn't mentioned at all of the half-hour World at One programme.
  2. I noticed this too. Not mentioned in the news or the features afterwards. Surely the fact that a house worth £200,000 at the beginning of April [sorry..May]would have lost £5000 in value by the end of the month is a major story. That 5K is possibly 5 times what one might get as monthly rent on such a property. Declan talked about it Breakfast TV news, but looked uncharacteristically unanimated about it.
  3. Most of the big housebuilding PLCs have very similar graphs with a nosedive in share values since last summer after a sustained rise for the previous few years.
  4. Perhaps we need builders to keep building more and more new homes because that will increase the over supply and cause prices to fall quicker!
  5. How could any country that belongs to the eurozone leave it? That would involve either a very expensive currency swap with the introduction of new coins and notes, or the adoption of a foreign currency such as the US dollar or the GB pound. How likely are either of those things? Zero! I reckon the euro is here to stay and the sooner we join it the better.
  6. We might not have a true house price crash yet but we do have a 'house SALES crash'.
  7. The current fuel price bubble might be manipulation by the oil producers but as world oil demand rises the finite supply is being used up and sooner or later oil and gas will become scarce. That is why I think we don't need to worry about global warming. The dwindling supply of fossil fuels will lower the worldwide carbon footprint long before any real harm is done.
  8. I don't think property prices are likely to fall as much as 80% except in a few extreme cases. Undesirable properties, such as ones needing complete renovation or even rebuilding, might fall, in a slump, to almost zero value. Other than that, I don't see the market falling more than 50% absolute max.
  9. The current situation is a shortage of home buyers, not a shortage of homes.
  10. More renters might ease the plight of some existing BTL landlords but I don't think many new ones are going to be attracted into BTL. Falling capital values are likely to wipe out any monthly profits.
  11. We might not have a full-blown house price crash yet but what we do have is a house sales crash. It is all around us - lots of houses for sale and hardly anybody buying them.
  12. I think the site is still relevant. It's a good place to discuss the property market. Discussing the property market and discussing falling prices are now both the same thing! Rising unemployment looks like it's going to be the next ingredient in the HPC cooking pot. It will probably directly effect some of us on HPC.
  13. At the moment despite the increasing evidence of a property slump and even a general recession developing around us, we still see some 'good news' stories. I see builders who are still pressing on with future schemes. Some houses are still selling. There are still enough property bulls around to sustain a small but dwindling bull market between buyers and sellers who both still believe prices only ever go up. But as things worsen, will we see a complete disappearance of 'good news'?
  14. I work at home quite a bit. That cuts my commuting bill, and time to zero on those days. I have an economical diesel car - still cheap to run despite the rising cost of diesel. For many people I think the best option is to swap their car for a more economical one.
  15. I've given up trying to make any links between day-to-day stock market performance and the wider economic situation. I suspect short-term day or 'hour' traders are having an undue influence on prices, while some very big players are probably able to influence the markets merely by making large strategic buys or sells in key companies.
  16. I know this is meant as a joke, but people can't play the nationalist card on this one! It's the fault of the British people!
  17. Actually good staff tend to leave firms that can't pay properly.
  18. I was curious about these no-permission investment plots a while ago. Companies made money by buying fields at agricultural prices, carving them up into an imaginary housing estate and selling small plots for a few K each. Probably someone who bought an investment plot for £4000 might have been able to sell it on for £5500 to an even more gullible person. But, if one of these speculative plotlands ever gained planning permission, prices would soar in the hope that others would follow. Now, though, I'd imagine these plot owners are left a few K down, while owning a piece of land they have n
  19. A few weeks ago I mentioned a local property that had been sold, which was true, as when I walked past the removals were there actually moving furniture in (not out, I'm sure, but in!). Well, now the property is 'for sale' again.
  20. Locally, used cars appear (subjectively) cheaper than they were a few months ago. If the economy turns down, surely the used car market will go with it. It might be true that the people will hang on to used cars rather than buy new but a lot of people will find themselves selling their second cars. Also companies are likely to downsize their company car fleets - especially if they go bust, when the downsizing will be 100%. But with home removals down 50%, I reckon secondhand removal vans will soon be a bargain. Not that they are much use for anything other than removals!
  21. As I get older I understand the 'work ethic' less and less. I understand some people have a vocation, like doctors or scientists, while others are lucky enough to turn their hobby into a job, but for the rest of us surely we want as much money as possible for as little effort as possibe, while employers want the opposite!
  22. I didn't see how the stats were compiled but the price rise could be to do more bigger, more intrinsically expensive houses coming on the market.
  23. If Poles etc. are going home AND unemployment is up 14,000 - how many jobs are really going?
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