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JoeDavola

Is The Crash Still On?

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I have to admit folks, I'm getting impatient.

Housing is still overpriced, and I haven't seen any movement pricewise for the last few months.

Is this it? Is the crash off?

I'm sitting here looking at places to rent, and even they seem bloody expensive to me.

Fed up with it all to be honest.

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I have to admit folks, I'm getting impatient.

Housing is still overpriced, and I haven't seen any movement pricewise for the last few months.

Is this it? Is the crash off?

I'm sitting here looking at places to rent, and even they seem bloody expensive to me.

Fed up with it all to be honest.

Prices down an average of 40% in two years. - One of the fastest crashes in history. Sorry to hear you are getting bored.

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Yes the crash is still on. Houses are affordable. The people that can't afford one now never will as they will be on the dole when prices halve.

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Housing is still overpriced, and I haven't seen any movement pricewise for the last few months.

I have highlighted the important part of your post. All we are seeing now is a temporary and predictable pause.

Don't worry, crash speed will resume again soon.

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Agree with some of your comments, some houses are over priced but some are priced reasonably. We are first time buyers, renting at the minute but really want our own place.

We are looking for a 2/3 bedroom semi detached house in East Belfast with a driveway (pref with a garage but not essential) and want to pay at most 135k. Ive been told by a few people this is unrealistic. To me I think that is reasonable for a semi but many seem to disagree.

We have both been looking at houses priced between 140-170k and over the next few weeks intend to start putting offers in between 130-135k.

If these offers are all declined then we will wait until later in the year and save a bit more.

Be patient mate, Im confident prices will drop more

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I have to admit folks, I'm getting impatient.

Housing is still overpriced, and I haven't seen any movement pricewise for the last few months.

Is this it? Is the crash off?

I'm sitting here looking at places to rent, and even they seem bloody expensive to me.

Fed up with it all to be honest.

You better discover patience, it will take several years for the crash to pan out. Everything will be delayed until after the election, when Labour get re-elected they will start taxing and cutting.

Yes, Labour will get re-elected - they saved the economy you know..

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I'm getting a bit frustrated too and even went to look at a house a couple of weeks ago, albeit under RV in need of work. Problem is its still its at the same price with an offer subject to sale :rolleyes: as it was when went sale agreed a year ago so as much as I like it, no can do. Interestingly there is a very low cash offer on it which is at a level I would consider but no indication as to whats vendors going to do.

The main positive thing here is that I could just about do that 5br house, I couldn't two years ago and my hope is next year it wont be the stretch it is now. You just need to resist as there will be better chances ahead if waiting a bit isn't going to put you out significantly.

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I've noticed a lot of houses I am interested in coming down these last few months, but crashes take 3-5years and we're only 2 years in. In reality we're only halfway there

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I'm still waiting for sellers in my area to realize the crash has even started!

The house I wanted, was £170,000 @ peak, way above my price range, has now come 'down' to £159,000, still way above my price range. And it's been on the market for well over a year. (It's an ex housing executive terrace FFS!!)

And guess what? Same type of house 4 doors down went on last week, for £150,000!!!!!

The delusion shows NO sign of ending any time soon, and until it does, we will have one big frozen stalemate market.

Then the REAL crash will happen.

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I'm still waiting for sellers in my area to realize the crash has even started!

The house I wanted, was £170,000 @ peak, way above my price range, has now come 'down' to £159,000, still way above my price range. And it's been on the market for well over a year. (It's an ex housing executive terrace FFS!!)

And guess what? Same type of house 4 doors down went on last week, for £150,000!!!!!

The delusion shows NO sign of ending any time soon, and until it does, we will have one big frozen stalemate market.

Then the REAL crash will happen.

The builders are cutting prices and selling, anything else is a lot of hot air. Look at TDGTTS, hundreds being reduced every week

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Guest crashdesk

There has been a lot of movement from builders, especially around Craigavon. A few houses have been completed and others are progressing slowly. What does it all mean? Do they want to finish the houses quickly and get their money before the real crash or do they think there is going to be a recovery?

Like to know your thoughts.

C

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There has been a lot of movement from builders, especially around Craigavon. A few houses have been completed and others are progressing slowly. What does it all mean? Do they want to finish the houses quickly and get their money before the real crash or do they think there is going to be a recovery?

Like to know your thoughts.

C

Any business needs cashflow, so builders have reduced to a point where they can sell. It's as simple as that, as far as I know. They either sell the houses, or the bank will sell them for them.

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I am not sure that some of our numbers are perhaps failing to take reasonable in the larger context and instead using the peak as the reference. Compared to the peak, things may well seem 'reasonable', but what sort of a person does it take to afford property using sensible multiples? To buy anything short of the very very bottom of the market still remains the reserve of a reasonably high earner. £30k in the bank, £30k salary.... there is not really much in the way of 'good' housing under £120k! That is assuming we dont go back to the old communist chesnut that everyone has to start at the very bottom....

Either there is a long way to go or my disposable income will continue to go to the germna auto industry.

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