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House Price Crash Forum


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About hip_spasm

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  1. http://forums.moneysavingexpert.com/showthread.html?p=30633985#post30633985 What do you think’ll happen to UK house prices over the next 12 months? A. Increase over 20% (big boom) - 1% (142 votes) B. Increase 10-20%. (boom) - 1% (150 votes) C. Increase 5-10%. - 12% (1270 votes) D. Increase 2-5%. - 29% (3166 votes) E. No real change. - 25% (2720 votes) F. Decrease 2-5%. - 11% (1140 votes) G. Decrease 5-10%. - 7% (809 votes) H. Decrease 10-20% (smaller crash). - 5% (540 votes) I. Decrease over 20% (crash). -4% (459 votes) J. I really have no idea. - 4% (460 votes) Discuss! Seems to me everyone is very optimistic and thoughts of a crash or dip or far from everyone's minds?
  2. As a consequence of this thread I am now seriously looking for a rental property. Not what I wanted but in all honesty it sounds the best option. At the moment myself and the OH are saving £1k between us. Sometimes 1.5k with overtime. Its sad that I have to rent but I think I've realised I must, must hold out unless I can get a 5 year fix, or find the perfect, perfect house. Further, I can probably find a rental house for 100 quid more than the 675 I pay to rent a flat now.. Posters on here having difficulty that bullet proof jobs exist - Police Service. Probably the closest you can come to guaranteed job security, regular pay rises, pension, etc etc.
  3. Looking at a 2 year fix. Rate I have been looking at 5.99%. Thats the lowest I can get it down to on a 90% LTV. I can pay higher...but dont want to obviously. Dpends how high we think rates will creep which is anybodys guess as far as I can see!
  4. Redundancy wont affect me - my profession is guaranteed pretty much. Sickness/Injury - the job will look after me. Mortgage would be around £160k. The main worry for me is that its pretty much accepted that interest rates will rise. If the rates rise and the credit availability does not ease, I simply wont be able to afford to buy (unless house prices slide downward accordingly). Its definitely a skill jumping ship at the "right" time.
  5. Have been considering a purchase since July 2008, decided I was better off out of it and thought a crash imminent and here we are! But got some circumstances which mean a purchase is going to be necessary sooner rather than later. Bun in the oven and demanding other half mean I may cave sooner that I'd have liked. Ive been looking at a 2 bed house in South West Essex, nice estate. Listed for 200k in July 2008, its was listed at 175k in January 09 and is still at that price. She rejected today an offer at 167.5k. I dont want to go higher ad I can only see the prices going down down down. But its the ONLY house for sale on the estate that interests us. SHOULD I CAVE or wait?! I fear my money in the bank becoming worth less than the paper its written on!
  6. I am a PH'er....at times...for those that asked. I think the question I asked was borne out of frustration. I spend months scrimping and saving and I'm not getting anywhere. Prices rise faster than I can save so although I have probably twice as much saved as previously...I'm not much better off. That frustration could lead to a huge spunking of my savings...but I haven't done it as yet I am trying to remain sensible! I know 4 wheels is not an investment for those that have commented on it...but it can be good clean fun! Stromba - you pop up in the least expected places! (From a CS Member!)
  7. I had my deposit saved for a property purchase. I had access to about £12k and offered the GF to buy a place together, and she could match the deposit. Not ready she says. So not being able to have that money burning a hole in my pocket, and being unable to buy a decent sized place alone, I spunked it all on a nice new motor my beloved RS Clio 182 (because someone would ask). And yes, I know about depreciation. So here I am, nearly 3 years on. The car is paid for. And I have access to about £20k (including resale value of the car). I refuse to buy in the current climate as I feel it can't go on - can it? Top of the market I think (hope). And I am sorely tempted to spunk it all on a rather nice new Ford Focus ST in diamond white. Part of me figures that all cars depreciate, my current one has at probably £2k a year. So if I cant do anything with the 17k property wise, I might as well have a nicer car depreciating at £2k a year. After all I can sell it when the market changes can't I. Do you think my GF wll buy this logic?
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