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House Price Crash Forum


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About PJP

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  1. How will gb go? Could a September election save labour?
  2. Just watched it. As we know passion doesn't usually equate to power, as am sure those who agree with James's ideology are aware. Imagine if someone with Obama's charisma supported this view: " WE, as a people, need to now come together and ensure what we need comes first, not what we Want..." Don't think it would be long before people start falling on their backs, loosing their acquisitions in the maelstrom, and questioning what is really important. As a lot of people on here seem to think, the global economic situation will get much worse. Just hope some-one steps up to prepare us for that long a painful 'quit session'. Maybe no one would book up in advance though...
  3. Did anyone understand what the Savills spokesperson said about why the owned outright top end of the market would soften the crash? I couldn't follow the logic..
  4. Yes, well done FP! Funny really that the other two experts had revised their predictions to drops of 25-35% in the last few months, close to FPs initial predicted falls.
  5. If the house price index figures released are based on completions during the month of July, then I think we need to be conscious of the lag. If the average time period between 'offer accepted' and 'completion' is 10 weeks, then the CLG data represents agreed house prices between Mid-April and Mid-May. Q2 tipping point RB? However, if we turn to more recent data we get a different story. Rightmove's house price data for August reports that average value of a London home fell by 0.1% during the month. Can anyone enlighten me on whether this is based on asking prices or actual sales? Halifax and Nationwide also reported cooling of HPI in August. Halifax suggest: "The three monthly increase in house prices – a good indicator of the underlying trend – has fallen from 4.5% in March to 1.6% in August. "So the more recent data suggests a 'slowdown'. And bear in mind; credit crunch, mortgage re-sets etc are just in motion now and their impact will not show up in the offical house price data for some time. I wouldn't completely write off RB's Q2 prediction just yet.
  6. RB, I'm a little naive about how price reductions actually work 'on the ground'. As far as I understand, it’s down to how the relationship works between seller, buyers and EAs. Who has the most power to influence prices here? Does it start with buyers putting in low offers and then not raising them? Hope someone can enlighten me because it is this aspect that is key to a crash happening?
  7. Just an anecdotal here RB, but a friend has been looking to buy in London in the past few months and has been told by EAs that to include flats 20-30k above their price range and then put in a lower offer.
  8. Well at least Regan spoke out against racism. I won't insult you because my pink wet liberal attidude assumes you're having a bad day.
  9. Wise words there hankdd. When we gonna learn eh? Greed ain't good.
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