Savo

Speaking as a public sector worker ( ), all I can say is that sort of view isn't the norm in all areas. Lots of people know the score. We (healthcare) are in brace positions and have been for nearly a year now. Not that it will be a tough one to be honest, far too much money flowed in to begin with. No big deal now the taps get turned off. But to reply to your last words....no, you can't win, none of us can.

Bring Out Your Dead

Hi BTB, Welcome back and thanks for the honesty. IMHO I'd stay where you are. I STR in Oct 07 having read here for a couple of years, and i'm married with kids. So unless i've mixed you up with another poster, other than our opposite ' housing trades' we aren't that different. There's more to life than trying to squeeze more equity out of a stone and that's honestly what I think what you would be trying to do by selling. There are so many variables at play here that means from here on in, it would be gamble for you and more importantly your family. As a disclaimer I'd add that having done what many would think would be a peak trade it's never as straightforward as it looks on paper. Or when you have no skin in the game (which far too many on here have). Lets not forget it's a 'global' bubble and all the cards have been pretty much dealt now. They'll do anything now to keep things even close to 'normal' and that means they are making up new cards (ie QE). No one can predict where we all go next. Chances are it's a lot lower......but how do we get there, and what are the side effects? Sorry to be boring....but my advice would be to stop dwelling on prices and kick back and enjoy the ride. Savo

Wow.......game theory.....there was me thinking a couple of newlyweds bought a flat...didn't realise they were playing global economic poker like every other einstein on here......... Clear evidence against what? Seriously, like many on here, there's something dead inside you. And trust me i'm as bearish as most on here. Sad stuff.

Maybe i should make it clear.......they weren't playing a game, sounds like they were just getting on with things. Not everyone is obsessed by house\flat prices I am.....i just try not to be too bitter (again not saying you are)

Angry about what exactly? You're on a site called house price crash during a house price crash.... If you can't move on from what's gone on you really are going to struggle.

Oh ok, they were playing a game? Reread it, it sounds like the husband was pigheaded etc but actually he just had some old fashioned morals. There's going to be hundreds of thousands of people caught up in this crap. For those of you that aren't, you should just be happy about that, and not sit there on the sidelines constantly talking about MEW, plasma's and 4x4's as if everyone did it. Plenty of people won't have, but they'll still get burnt. Pointing fingers and talking the **** just makes you a ****. Smith, i'm not saying that's the case with you but lately that's a constant theme on here.

Always a pleasure to see the compassion flow. Seriously, some of you need to grow up. Probably the most worrying things is this is from a (rough calc) 4.5 x single earnings debt. I dread to think how many more since they bought have been higher.

Imp, firstly two thanks. 1. Thanks for starting a thread about house prices. 2. Thanks for the graph, far too few of those lately. But now for the comment. Look at the graph. seriously do you think things were that far worse in the early 90's? Not a chance, this is a once in a lifetime bust. I'm not going all 'end of the world' on anyone here. The world will keep spinning and the sun will keep on rising, other than that, all I know is buying a house right now is a real wrong 'un.

RB, Keep up the good work. You get a stupid amount of grief for what seems to be pretty good trend advice. Savo PS Who really cares though.......House prices seem to be crashing

I know what you were saying, sorry, was just making the point that to alter most people perceptions you would need almost another full 12-18 months (your timeline) of this week to get the point across. Probably didn't get that point over Savo, off to bed

So there it is then, things are going to get worse because most people would forget what's going on now in 12-18 days. ?...! thanks again for dropping in, don't be a stranger

Kinda scary Now after 15 minutes chat they are trying to say why it affects all you watching

Hmm, i'm guessing you'll be waiting a good while on that CL. As someone said the other day, its may be worth being 10% in gold and never needing it. The thing is that *insert mushroom cloud here* was very far from the general sentiment a while back from agood many posters.

Guilty as charged, i'm a plank. Good illustration by the way, let me think, that's how many years? (takes off socks to count that high)........oh ok, done it, you've gone back 33 years to prove your point? Keep on ramping (on a public forum), you do realise Big Macs will be going to the moon soon? Maybe i should buy them to protect against hyperfinflation?.......oh hang on, now i'm muddying the waters...... *edit for spelling*

Nice to finally admit it, but one day you'll learn a bit more and understand why ramping anything on a forum may not be a good idea. Ask people who bought gold when even the BBC were ramping it........ Very sad.

How well? If he was around we'd be seeeing a field of mushroom clouds......... Give it up.

No the loan figures for BTL at the moment may be being skewed by our good friends the accidental landlords. Can't sell? Become a landlord.......but don't forget to change your mortgage over.

A strange article I thought. Is it just me or are those graphs a little odd? Not too sure about the flood of BTL's hitting the market either. No sign of it here in Brum. If anything the direct opposite appears to be true. Places with little or no interest that are for sale are being put on also To Let. Neither seems to genearte interest. Don't get me wrong I like what the Oracle has to say from time time to time. The thing is, the author (does he post here?) may have to suggest they'll be a pause in drops as the original prediction now looks bullish Maybe i'm too bearish now but the last six weeks feels like the calm before a very harsh storm for housing.

Haha spot on about not happening fast enough the last few moths have been stunning. Anything negative is good for the majority. Paddles, this is getting far from boring, this is getting seriously good for a whole series of families that have been priced out for years (which I believe you are one of). I'd go for another stupid MoM figure of 2% MoM which i think is close to 8%YoY. Who cares when they 'fess up? This is almost a one way bet now, anyone with any money just needs to protect it and wait just a little bit longer.

Lot 95C, nice quiet area of Solihull in Brum (or not in Brum if you live that way ). Anywho, here's the interesting bit, it sold in July 07 for 300K.......the peak of the peaky bit of the housing bubble peak guide price of 235K I'm sure nobody needs reminding, but sometimes I like to cast my eyes back to those heady days and laugh...... Sell now, it's the peak Thanks for the reminder M21er

Here's the article........ ------------------------------------------- From the beginning of September, lenders will require builders or developers of any newly built, converted or renovated property to complete a new 'disclosure of incentives' form. This will be reinforced in the CML's Lenders' Handbook, which sets out specific requirements for conveyancers acting on behalf of lenders in property transactions. The CML has been working with surveyors and house-builders to ensure that the valuation of new properties is more reliable and robust. In September, the Royal Institution of Chartered Surveyors will be amending its guidance to members to reinforce the requirement to disclose incentives to lenders. The Home Builders' Federation and Homes for Scotland have recently reinforced their own codes of conduct to encourage greater transparency about discounts and other incentives. And a number of major builders are taking their own steps to address the issue. ------------------------------------------- This isn't going to stop the current growing practice of small time EA's and non-flippers\second home owners\desperate sellers muddying the waters with incredibly stupid cash back scheme's. Still it sounds a nightmare and will probably get some bad press eventually.

BUMP. I'm seeing that in Birmingham too and have been considering contacting the tax office and land registry, so if anyone has any info before I waste my own time it'd be good. I would have done it myself previously but i've been selling mars bars for £6 with £5 cash back......

Same here. But really how basic is it, yet so many people fail to talk to the people closest to them? To the OP I would say it really doesn't matter what you do in the long term, keep everyone happy in your family and everything will fall into place eventually anyway. However, never underestimate the flexibility of kids to adapt to new surroundings. The Savo family are off again to a new place in a month or so, one of the Savo Jnr's loves this current place but already talks about the new place (which due to certain circumstances will be the fourth place in a year). Plenty of people can whine on and on and on about anything and everything but regardless of house prices, shitty landlords and imploding financial systems, so long as you have a smile on your face and food in your belly who cares?

I nearly bought a part share a few years back (2005). In some circumstances it can 'kind've' make some small sense Thankfully for reasons beyond my control the sale fell through. I'm guessing more people will be thinking of using these schemes now so it won't surprise me if they do really take off. People wil buy only 50% of a house\flat thinking they only have 50% of the exposure to a 'correction'