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House Prices To Fall To 2004 Levels - Telegraph

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House prices this year will plunge as much as 10pc to their lowest level since 2004 after suffering a far sharper decline than expected last month, economists have warned

"Such sharp declines would outstrip the official forecast for a 2.7pc decline in 2011, and roughly match forecasts by National Institute of Economic and Social Research (NIESR) that "real" house prices, after accounting for inflation, would still be at 2003 levels in 2015"

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/8251318/House-prices-to-fall-to-2004-levels.html

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yep, that's it.

2011 is the year and looks like everyone realises the game is up.

sit down, relax, and enjoy the show for which some of you've been waiting 5 years...

And this is all happening when IRs are 0.5%. The moment they start moving upwards, the crash will be massive. But still, nothing abnormal - we'll just return to the long-term normality re house prices. However, it'll be very good for getting this great country back on its feet.

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yep, that's it.

2011 is the year and looks like everyone realises the game is up.

sit down, relax, and enjoy the show for which some of you've been waiting 5 years...

And this is all happening when IRs are 0.5%. The moment they start moving upwards, the crash will be massive. But still, nothing abnormal - we'll just return to the long-term normality re house prices. However, it'll be very good for getting this great country back on its feet.

Hmmm.... I paid 2004 prices for my house in 2009. The bizarre thing is the neighbour has just gone back to 2007 price for their sale.

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Loving the comment from Gandalf, straight for the jugular!

Come on, won up!

Gandalf/mystery HPCer: "Not just planning laws which in UK are draconian aimed at preventing building to support the house price Ponzi scheme. But also there is No Land Tax so land is hoarded and held back (Owned by vested interests), pure greedy speculation no different to Bankers bonuses or MPs expenses.

CGTax on B2L is at an all time low again to support Cons voters, property speculators, prop up anks bad assets, nothing but sheer greed.

It is vital property prices plummet to 3.5xavg salarys plus a 20% deposit rewuirement.

To save your childrens future and hurt the greedy speculators, vested interests, B2L, land hoarders, who must see now their investments are about to crumble. It is the only cure for the UK House Price Ponzi scheme. A form of sad, predatory, social genocide thats feeds on the nations younger generation.

More building is needed, Houses are cheap to build.

Land must be taxed, CGTax must rise back to 40% where it was in 2008. Social home building prgms must start up and build 1,000,000 gomes so Local Authorities become the preferred B2L at fair rents. the 1,200,000 B2L properties taken out of supply must be taxed. the 750,000 homes left empty must be properly taxed. There is a huge amount of property and land left to home your children and enable the to raise families without being in serfdom to debt and pay somelese mortgage.

It is no different to the wrongs of Bankers bonuses or MPs expenses."

Quotation marks used 'cos quoting is broke.

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House prices this year will plunge as much as 10pc to their lowest level since 2004 after suffering a far sharper decline than expected last month, economists have warned

"Such sharp declines would outstrip the official forecast for a 2.7pc decline in 2011, and roughly match forecasts by National Institute of Economic and Social Research (NIESR) that "real" house prices, after accounting for inflation, would still be at 2003 levels in 2015"

http://www.telegraph...004-levels.html

This is the level that they should have been allowed to fall to in 2005 :lol:.

Would have spared us a world of pain if Broon and Blair had done that.

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Hmmm.... I paid 2004 prices for my house in 2009. The bizarre thing is the neighbour has just gone back to 2007 price for their sale.

I paid the lowest in the my street and area (within half a mile) for my style of house since 2003 :)

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yep, that's it.

2011 is the year and looks like everyone realises the game is up.

sit down, relax, and enjoy the show for which some of you've been waiting 5 years...

And this is all happening when IRs are 0.5%. The moment they start moving upwards, the crash will be massive. But still, nothing abnormal - we'll just return to the long-term normality re house prices. However, it'll be very good for getting this great country back on its feet.

The shame is... It was avoidable.

no more 4x salary/no deposit/no proof of earning mortgages, interest rates 7-8% Which will probably overshoot to 10-14% to balance the 500 year low of 0.5%.

If interest rates don't catch up the (Food/Fuel) inflation WILL get more and more news worthy. The tabloids/people already waking up to food/fuel price inflation coupled with wage deflation (deep down many know, someone with a degree, no student debt and only a 15K mortgage can do our jobs a lot cheaper that we can)...couple that with crippling national/personal debts and you will soon think a 25% drop in house prices a god send.

When the Avg wage in the UK drops to £10 p/h (In REAL terms). That £10 might sound a lot to some, but after direct/indirect taxation... it's STILL a lot higher than world Avg. We will have some very serious social issues.

BUT I still believe the UK compared to the rest of Europe has one of the strongest work ethics and the best austerity thresholds going. We actually perform our best when we have a bit of "Blitz spirit" and pull together as a society... we suck/fracture as a nation when we are spoilt.

I can't see the Euro lasting 2 years without 'policed state' emergency measures kicking in.... And that last point is the one that worries me.

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I can't see the Euro lasting 2 years without 'policed state' emergency measures kicking in.... And that last point is the one that worries me.

Not what worries me.. I couldn't give a tinkers cuss about the Eurozone, I'm more worried about the noises Grant Shapps is making.

I hope he doesn't cave too early :(

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The wonderful HPC news will probably make Thursdays Muppet gathering a dead cert for continued vigilance.

The only betting worthwhile on Betfair is whether Merv will use the "vigilance" word again. Then again at 5/6 odds on it might not be such a good punt.

A severe HPC will undoubtedly bring down the banks again as million stop paying their mortgagesd and next time perhaps the bonuses will be curtailed somewhat.

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yep, that's it.

2011 is the year and looks like everyone realises the game is up.

sit down, relax, and enjoy the show for which some of you've been waiting 5 years...

Nope....

8/9 years at least... :rolleyes:

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why are the media and posters so obsessed with forecasts from institutions that couldn't forecast tomorrow's weather if they had the met office on the phone?

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The wonderful HPC news will probably make Thursdays Muppet gathering a dead cert for continued vigilance.

The only betting worthwhile on Betfair is whether Merv will use the "vigilance" word again. Then again at 5/6 odds on it might not be such a good punt.

A severe HPC will undoubtedly bring down the banks again as million stop paying their mortgagesd and next time perhaps the bonuses will be curtailed somewhat.

Usually the time to worry and take steps to protect yourself (i.e get out of a currency) is when a central banker tells you everything is fine and dandy

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The wonderful HPC news will probably make Thursdays Muppet gathering a dead cert for continued vigilance.

The only betting worthwhile on Betfair is whether Merv will use the "vigilance" word again. Then again at 5/6 odds on it might not be such a good punt.

A severe HPC will undoubtedly bring down the banks again as million stop paying their mortgagesd and next time perhaps the bonuses will be curtailed somewhat.

Why would they stop paying ? There's no persuasive reason why a severe HPC would bring down the banks unless it's accompanied by a big increase in unemployment. Millions went into big negative equity in 1989-93 crash; most continued to pay their mortgages and came out the other side.

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Why would they stop paying ? There's no persuasive reason why a severe HPC would bring down the banks unless it's accompanied by a big increase in unemployment. Millions went into big negative equity in 1989-93 crash; most continued to pay their mortgages and came out the other side.

Half the banks have already been 'brought down' their existence is just an extended illusion brought to by HMG

sooner or later they will disappear, it's inevitable. take steps to protect yourself and your family

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Guest The Relaxation Suite

House prices this year will plunge as much as 10pc to their lowest level since 2004 after suffering a far sharper decline than expected last month, economists have warned

"Such sharp declines would outstrip the official forecast for a 2.7pc decline in 2011, and roughly match forecasts by National Institute of Economic and Social Research (NIESR) that "real" house prices, after accounting for inflation, would still be at 2003 levels in 2015"

http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/8251318/House-prices-to-fall-to-2004-levels.html

Prices at 2004 levels are nothing to get excited about because even back then they were insanely high. In 2004 a mid-terrace in a town in the south I monitor would sell at 140k. In 2007 maybe 190k. The problem we have is that the house was worth no more than 75k in 2004, and not much more today. Going back to 2004 prices is not good enough by a long chalk.

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Prices at 2004 levels are nothing to get excited about because even back then they were insanely high.

They were, and shooting higher still! :huh:

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All this media gloom might start fan the flames and cause a much bigger fall. A couple of interest rate increases will cause the beast to gain real momentum. Unemployment may rival US levels the way things are going. I wouldn't buy a property in Britain even with a 15% discount at the moment. When do you decide to catch a falling knife? 20%? 30%? In California they've had over 50% falls in some places and it's only just bottoming out. Fancy that! :huh:

Edited by Xurbia

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Nope....

8/9 years at least... :rolleyes:

I sold in 2001 but only realised what had been happening when I got back from travelling/alternative career, in 2004 :blink:

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  • 312 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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