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House Price Crash Forum


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Everything posted by HPCwhen?

  1. These are all really valid points. I've never really thought of myself as a conspiracy theory crackpot but I flat out just don't believe these figures. I keep regular tabs on Propertynews and properties are only shifting after significant price reductions - how can this translate into a 9.7% increase?? Is there some sort of Voodoo economics going on here?
  2. Except, in many cases, 'developers' have gotten off pretty lightly to date. The banks - at their self-serving best - have bent over backwards not to foreclose on them in a futile attempt to protect their investments. I do kinda feel sorry for the little guy in this. Yes they were greedy and yes they were, in many ways, pretty dumb to invest at the very top but I still wouldn't wish this amount of stress and misery on anyone.
  3. Bear- food -a-go-go!! Average house prices 125K. I'll take that! The impact on sentiment of programmes like this cant be underplayed. Great.
  4. Don't agree. There is right time and a wrong time to buy property. Buying at the right time is a very good idea but buying at the wrong time.... Apart from that, I do agree with alot of your analysis but not the conclusions you draw from it. Prices will fall further so why buy now? I agree that the UU and other reports will soon be reporting drops which will be a big blow to the fragile feeling of confidence which is about at the moment. In fact, it'll be kind-of like getting punched to the floor, getting back up, dusting yourself off and then getting hit again - its way more damaging to conf
  5. 358 Someone should tell these folks that the crash is still on! http://www.propertynews.com/brochure.php?r...=1&sort=h2l
  6. There is nothing moving in East Belfast. I keep a watch on PN but there's little point - its the same old same old every week - very little of anything seems to be shifting.
  7. Things mus be bad. A friend of a friend works for a Government Department and he says that there have been top level meetings about how to slash costs. Something about 10% cuts this year and more next. Temporary staff and agency workers are already being let go. I wonder will senior servants forego their bonus? I have a feeling the recession here is only starting to bite.
  8. http://www.rte.ie/news/thisweek/ VERY interesting this week about NAMA, Carroll and ACC the Dutch bank. Not up on listen again but should be later today. Some excellent contributions basically saying that rather than NAMAs 7 year housing market cycle projection the real truth is 18-20 year minimum and that tax payer cannot be guaranteed a return on their 'investment', despite what the Government might say.
  9. I totally agree. I work in the public sector (like a hell of a lot of people in NI!) and have an eye 2-3 years down the road when the swingeing cuts will come. My own appetite to buy - at the right price - is faltering too. My friends are the same. The 'public sector recession' is only beginning and my feeling is that It'll be especially brutal here.
  10. 299. Its only a gut feeling but I really think that activity is dropping. Many properties I'd have assumed would ('cos they were 'competatively priced' ) sell just aren't shifting at all. Are we entering the next leg down?
  11. I guess its a matter of priorities. I live at home and for the most part I enjoy it. My parents like having me around too (I think!) I've got 60K in the bank that I wouldn't have if I'd rented and pretty soon I'm going to buy a house with a manageable mortgage without fear of negative equity and keep a little aside for a rainy day. My parents have a done a great thing for me by allowing me to stay and I'm really grateful to them.
  12. http://news.bbc.co.uk/1/hi/magazine/8151355.stm According to this I'm Mr Mid-point which means I can afford...er..a terrace house in a scary area of E. Belfast! Yey!
  13. Thanks Vesp. I'm only too aware of the stupidity of co-ownership (though mainly due to reading yours and others post on this website!) I was just acknowledgeing that when I buy the bank will still own 2/3 of 'my' house.
  14. Subby - LOL on the price!! My bad. Thanks Left of Centre. I'm just so bored of waiting around. It's annoying to think that things will move so slowly over the next few years. It seems we have been in 'crash mode' for so long and yet prices are still incredibly sticky. It must be 2 years now - or perhaps even longer? I'd just like to able to stop worrying about property ( Have we reached the bottom?, will I miss the boat again?, what about inflation? blah blah blah). I know its stupid and I know I don't need to own (or part own!) a house in order to get on with my life - it would just be
  15. I quite like this development in Dundonald. There are a bunch of a properties for sale ranging from apartments to 4 bed 'townhouses' (whatever they are): - http://www.propertynews.com/brochure.php?r...=1&sort=h2l http://www.propertynews.com/brochure.php?r...=1&sort=h2l http://www.propertynews.com/brochure.php?r...=1&sort=h2l The apartments (priced at 125K) have already been for sale at that price for months so they're definitely NOT worth 125K. At the near-ish Coppers Mill development 2 bed apts were sold off plan at 97500K. I'm thinking these will sell for 100K? This takes the
  16. http://news.bbc.co.uk/1/hi/northern_ireland/8137132.stm Ooops. Round two anyone?
  17. I know what you mean but McNarry is still taking a pretty cheap shot. It might be a little late the day to be suggesting people take more financial responsibility but its still worth hearing nonetheless.
  18. I'm so glad that we have serious, informed politicians like David McNarry rather than populist, self-serving, snake-oil salesmen who'll jump on any old bandwagon if he thinks it will score him a few votes.
  19. http://www.propertynews.com/brochure.php?p=17610708 Up by 25 grand! Must be green shoots!
  20. I can relate completely. All this talk of rising prices and renewed interest has got me thinking that it might be time to take the plunge. I've seen a house I like (which isn't even on PN bizarrely!) but my head is still telling me now is not the right time. Why? Its spring/summer and there's always more activity/competition now - I'm holding fire until at least the end of the year when things will be deadly quiet again; Seller mentality will have shifted with the recent talk of 'green shoots' - they will probably be less receptive to offers significantly under asking (their renewed optimis
  21. Totally agree BB. Our addiction to making a fast buck from property will be difficult to beat - but it will be beaten. It's actions like this which will expose the true weakness of this market -he is probably doing you a favour. On another note - just saw a fantastic piece of ramping on ITV news this evening! They interviewed one woman whose totally average semi had increased from 135000 in March to 160,000 today! She was 'delighted'. Will the general public ever get it? I doubt it.
  22. To imagine house prices can begin to rise in this environment is just insane. Unemployment is rising, wages stagnant (or falling), interest rates headed only one direction - all mean further falls in my opinion. The pace of price declines had to moderate - if it continued at recent rates they'd be giving houses away this time next year (sort of). This spring bounce will will evaporate and we'll be back to a long slow correction in prices. I'm guessing another 10-15 % off asking prices by years end. But you know what? Even if this did make the bottom and prices re-bounded rapidly from here I w
  23. Hi All, Don't know if this was posted on the main board. Halifax figures discussed on Radio 5 y'day morning. I was half asleep but I'm nearly sure that Jonathan Davis aka FP said he'd be quite happy for house prices to rise! Not sure what to make of this? Probably just the way that the question was posed...or has Jonathan bought? The EA is a laugh though - full of contradictions - in one breath saying people should buy property as a home and not an investment and the next breath saying that housing was a reliable investment Here the linky - 12.03 http://www.bbc.co.uk/fivelive/programmes/
  24. 'Improving but not affordable'. Says it all really - 40% falls and STILL average houses are unaffordable for all but those on above-average income. We had one hell of a bubble didn't we? Anyway, I thought house prices to earnings ratios were old hat and that these days it was all about 'affordability', permanently low interest rates and low manageable monthly repayments? Did I miss a meeting?
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