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The Masked Tulip

It's Not Happening Is It?

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You know, we post hundreds of articles from Economists on here each week saying how dire the global economy, how much mess the banks are in, how unemployment is rising and how things are going to get much worse despite all this QE that is going on and...

We even have figures from the LR saying that the average price of a house has fallen in price YOY but...

The stock markets are soaring and seemingly few of us, perhaps none of use, are actually seeing any substantial falls in asking prices in our areas. UK unemployment is on the up but UK house prices are staying stubbornly high and the FTSE is chasing the DOW and NASDAQ upwards.

It just doesn't make sense. In the US, Spain and Eire house prices have absolutely tanked - can you imagine how happy many of us would be feeling now if we were seeing the same thing here in the UK? But we ain't - it just is not happening and, as a long-term bear of many years, I am getting fed up now.

I still think there is global shock coming but the previous global shocks have done s*d all to UK house prices even though they decimate the HPs in other countries. Even if the FTSE went down by 50% would it have any real affect on the UK house price madness!

Maybe I need to be the last bear to turn bull so that this giant ponzi scheme can come crashing down.

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Gordon's done his best (or is it his worst?) - the country is fcuked.

It's got to all fall down sooner or later. Maybe they don't have property bee in foreign parts?

The watched pot never boils... and I think property bee is far too addictive.

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Gordon's done his best (or is it his worst?) - the country is fcuked.

It's got to all fall down sooner or later. Maybe they don't have property bee in foreign parts?

The watched pot never boils... and I think property bee is far too addictive.

Oddly enough, I stayed off PB for a few months before returning there last week. There were large numbers of

properties in my area whose asking price had not changed in 12 months or more.

Many had not changed in 6 months.

Nuts.

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Eh TMT???

WTF??

20% off in my area!

I had to check the date of this thread!

I have never felt more bearish than right now! anyone else feel like me?

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Depends what you're expecting

I can buy a house that I really want at 35 % less than it was on the market for a year ago (Ok that was fantasy, but even so)

That's the steep part of the crash done; now we're moving onto the slow, drawn-out phase with another 10-15% over maybe 3 more years.

We'll end up at 40-50% down. The question is whether it's worth waiting 3 years for the last 10% or so.

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Eh TMT???

WTF??

20% off in my area!

I had to check the date of this thread!

I have never felt more bearish than right now! anyone else feel like me?

I'm sh1tting in the woods daily.

The pole is just waxed with treacle at the moment.

Sit, wait and watch. The trend is down and there's so much more to come.

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Stockmarkets and house prices have a proven history of going in opposite directions, so don't lumpo the 2 together.

It is accepted that prices have already fallen 20% plus. This comes from the Land Reg, the Building Societies, RICS and even McTavish's poll earlier. Forget asking prices, they are meaningless at the moment.

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Depends what you're expecting

I can buy a house that I really want at 35 % less than it was on the market for a year ago (Ok that was fantasy, but even so)

That's the steep part of the crash done; now we're moving onto the slow, drawn-out phase with another 10-15% over maybe 3 more years.

We'll end up at 40-50% down. The question is whether it's worth waiting 3 years for the last 10% or so.

35%!? No where near in my part of the World.

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Oddly enough, I stayed off PB for a few months before returning there last week. There were large numbers of

properties in my area whose asking price had not changed in 12 months or more.

Many had not changed in 6 months.

Nuts.

And the reason you could see they hadn't changed is because they haven't sold.

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few of us, perhaps none of us, are actually seeing any substantial falls in asking prices in our areas.

UK house prices are staying stubbornly high and the FTSE is chasing the DOW and NASDAQ upwards.

:lol:

I've been trying to tell you.......

:lol::lol::lol::lol:

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I have never felt more bearish than right now! anyone else feel like me?

Yep.. Two of the properties I am watching reduced significantly in April. Nothing is selling in my area.

[Edit to add clarifier]

Edited by libspero

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Know exactly what you mean, nothing is being reduced where i live. The shops are bouncing, restaurants are packed absolutely nothing has changed. I have now resigned to saving more for a deposit, at least houses are not going up.

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Walk round some recent developments to see the blocks of flats. Not fully finished yet rust appearing, hardly surprising as the downpipes are missing. Gardens with the shrubs already dying as no-one is watering them, because no one lives there and the developer can't afford it. I saw one today where they hadn't even planted the last few shrubs, just laid them on the earth to die. And if they can't be bothered with that what do you reckon to the state of the electrical wiring?

For sale signs in every window. Not a chance of a sale at those prices and with that oversupply. And the loan interest has got to be paid every quarter.

We are talking fire sale; remember that prices are set at the margins.

Drive down there and have a wander round to remind yourself what's coming whenever you have doubts.

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20% off in my area!

Only on some. not all ... not the ones OO want to buy maybe?

I know a lot of ones I've seen that are ready to move into aint been reduced for years...

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Know exactly what you mean, nothing is being reduced where i live. The shops are bouncing, restaurants are packed absolutely nothing has changed. I have now resigned to saving more for a deposit, at least houses are not going up.

But are they selling at their non-reduced prices?

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The UK has an unnatural love affair with properdee and this uptick is happening on miniscule volume. Some folk with more money than sense are spending on the notion that 'bargains' are available - a very wealthy friend of mine has bought up a ton of property in Edinburgh.

Don't despair - it can only go one way: Down the shunkie.

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Know exactly what you mean, nothing is being reduced where i live. The shops are bouncing, restaurants are packed absolutely nothing has changed. I have now resigned to saving more for a deposit, at least houses are not going up.

And where is that exactly? You can get a good meal for 2 near me for around £60. You can get an extra bedroom for £100k. Which do you think is easier to fund?

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Eh TMT???

WTF??

20% off in my area!

I had to check the date of this thread!

I have never felt more bearish than right now! anyone else feel like me?

Likwise, I suppose it depends on what neck of the woods you fare from but my PB watch-list has a reduction at least once a week. Toot toot! Full steam ahead.

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I'd say it's happening.

Asking prices round these here parts have fallen at least 20% (more in some areas). Even at that the things still aren't shifting and EAs are encouraging me to put in offers a further 20% below the asking prices (no chance; try 35%).

However history tells us that only the first stage of a crash happens quickly, the remainder happens at a progressively slower rate.

Edited by mikeymadman

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