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Times: Property Slump Coming

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http://www.timesonline.co.uk/tol/money/article7148350.ece

From Times Online
June 11, 2010
Hold on to your home as house price recovery is set to stall
Despite an upturn in the spring, economists warn that things will get tougher with a double-dip in the housing market on the cards
Lauren "Laura" Thompson
RECOMMENDED (3.556,443)
Homeowners are being warned
to prepare for a double dip in house prices, as a lack of mortgage funding, the expected rise in capital gains tax (CGT) and a looming interest rate increase send prices falling.
Property experts say that, if you have the choice, now is not the time to put your house on the market as prices are likely to slump by the end of this year.

Ever so subtle, contradictory message, hidden in this article. "Don't sell now" you might flood the market and make things worse for the BTL brigade and the greedy multiple home owners who were building an empire to retire well.

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1ST Don't panic.............2nd Panic 1st !

Frankly RB we are at critical mass, it will all go together around Sept ish time..........the dark nights draw in & suddenly the rout will be apon them.

Mike

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There is a good article in there today about BDSM relationships. A couple wrote in seeking advice... I keep telling Mrs. TMT to stop doing this...

There you go again, second post today where I have fantasised about a Mrs. TMT. Need to go for a lie down... No...

Back to the topic...

The recent upswing in houses coming on the market looks like becoming a flood... I would imagine loads of workers are now very worried for their jobs and many must be thinking about trying to off-load their house now whilst they still have a job.

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http://www.timesonline.co.uk/tol/money/article7148350.ece

From Times Online
June 11, 2010
Hold on to your home as house price recovery is set to stall
Despite an upturn in the spring, economists warn that things will get tougher with a double-dip in the housing market on the cards
Lauren "Laura" Thompson
RECOMMENDED (3.556,443)
Homeowners are being warned
to prepare for a double dip in house prices, as a lack of mortgage funding, the expected rise in capital gains tax (CGT) and a looming interest rate increase send prices falling.
Property experts say that, if you have the choice, now is not the time to put your house on the market as prices are likely to slump by the end of this year.

Ever so subtle, contradictory message, hidden in this article. "Don't sell now" you might flood the market and make things worse for the BTL brigade and the greedy multiple home owners who were building an empire to retire well.

I thought that when I read this today. They advise homeowners not to sell now. The times trying to subdue the flood. Good luck. Those who dither now will rue the day.

You HAVE to beat the rush, unfortunatly for most the rush is well underway. It reminds me of something the overview of the January (or feb) rightmove survey said: 'there will be a window of opportunity for sellers in the first quarter' this has proved very accurate, that window has now slammed shut.

It's good that the MSM have capitulated that falls are coming but they still assume they will be temporary. If sellers are planning to wait out these temporary falls they will either have a decade long wait or lose an awful lot of money when they forced to sell in a year or two.

Edited by Pent Up FTBer

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I thought that when I read this today. They advise homeowners not to sell now. The times trying to subdue the flood. Good luck. Those who dither now will rue the day.

You HAVE to beat the rush, unfortunatly for most the rush is well underway. It reminds me of something the overview of the January (or feb) rightmove survey said: 'there will be a window of opportunity for sellers in the first quarter' this has proved very accurate, that window has now slammed shut.

It's good that the MSM have capitulated that falls are coming but they still assume they will be temporary. If sellers are planning to wait out these temporary falls they will either have a decade long wait or lose an awful lot of money when they forced to sell in a year or two.

Way way too late for the average homeowner IMO, the choice is keep paying the rent to the bank or drastically cut the price, which you can`t do with NE anyway? I really hope there are mass defaults and large scale demands to be housed by councils. the only thing that drew the chavs in was HPI, the average Brit WON`T "do the right thing" and keep servicing the mortgage once the free money component is gone IMO.

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There is a good article in there today about BDSM relationships. A couple wrote in seeking advice... I keep telling Mrs. TMT to stop doing this...

There you go again, second post today where I have fantasised about a Mrs. TMT. Need to go for a lie down... No...

;)

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There you go again, second post today where I have fantasised about a Mrs. TMT. Need to go for a lie down... No...

Don't worry I fantasise about her several times a day...,

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http://www.timesonline.co.uk/tol/money/article7148350.ece

From Times Online
June 11, 2010
Hold on to your home as house price recovery is set to stall
Despite an upturn in the spring, economists warn that things will get tougher with a double-dip in the housing market on the cards
Lauren "Laura" Thompson
RECOMMENDED (3.556,443)
Homeowners are being warned
to prepare for a double dip in house prices, as a lack of mortgage funding, the expected rise in capital gains tax (CGT) and a looming interest rate increase send prices falling.
Property experts say that, if you have the choice, now is not the time to put your house on the market as prices are likely to slump by the end of this year.

Ever so subtle, contradictory message, hidden in this article. "Don't sell now" you might flood the market and make things worse for the BTL brigade and the greedy multiple home owners who were building an empire to retire well.

I think it was in the main section of the times today (maybe yesterday) that they had a page on the shortage of housing and that we need to build 1 million homes. In small print below the quote they had the source as the National Building Federation.

The clues are there but are people able to negotiate the minefield of "information" they are given?

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There is of course always a flip side.

Ive said before how being out of work holding alot of cash from the sale of a property is not a good position to be in.

I am still actively looking to buy, most recently putting an offer on a repo and being outbid (again!).

Having an STR fund that is eaten away with low IRs, no JSA after 6 months and full ctax along with high rents is not a good position to be in.

If I can I will buy (mortgage will be less than rent) and hide some cash so I can at least claim something when redundancy occurs yet again, like many ive learnt that you have to play the system, holding debt in todays UK is good, holding cash is not.

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There is of course always a flip side.

Ive said before how being out of work holding alot of cash from the sale of a property is not a good position to be in.

I am still actively looking to buy, most recently putting an offer on a repo and being outbid (again!).

Having an STR fund that is eaten away with low IRs, no JSA after 6 months and full ctax along with high rents is not a good position to be in.

If I can I will buy (mortgage will be less than rent) and hide some cash so I can at least claim something when redundancy occurs yet again, like many ive learnt that you have to play the system, holding debt in todays UK is good, holding cash is not.

holding debt in tomorrows uk may not be so good....

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Dr B

If people had shown some sense from the start they not had a housing bubble.................

Let them eat cake mate!

Mike

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Talk about double dip recessions..

not sure if we've had this one, and I don't think it deserves it's own thread as it's from 'The Mirror'

edit: By Danny Blanchflower

'Mad axeman George Osborne is about to push Britain into second depression'

Edited by Saving For a Space Ship

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I think it was in the main section of the times today (maybe yesterday) that they had a page on the shortage of housing and that we need to build 1 million homes. In small print below the quote they had the source as the National Building Federation.

The clues are there but are people able to negotiate the minefield of "information" they are given?

Just watch more TV people, you know you want to!

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I find all this talk of double dip recessions at the same time as rising interest rates etc etc pretty unconvincing.... my view remains that growth will remain sluggish and as a result interest rates will remain low. The Boe won't raise rates as long as the inflation is casued by internal factors ( eg VAT increaes, Patrol tax increases etc.. rather than consumption growth). As a result I don't think we'll see the bloodbath in the housing market most seem to be predicting, but I do think the price only has one way to go which is down ( but it'll be moving pretty slowly).. perhaps in some regions though we might see much harsher falls.

Once the budget is announced and the talking is done this is going to be a period of steady cuts in expenditure. The govt has no interest in forcing anohter recession or a house price collapse for that matter and they will be doing their damdest to produce growth to offset the set backs caused by the cuts in central expenditure.

So in short I really cannot see the doom and gloom happening... sure its not going to be joyous and we are likely to be in the doldrums for a few years, but I wouldn't get too excited about a quick deep crash in the housing market.. its possible sure but not likely in my view.

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  • 140 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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