Jump to content
House Price Crash Forum
interestrateripoff

Wail All Bearish Today 20% Fall House Prices In Next 2 Years

Recommended Posts

House prices to fall '20% in two years': Joblessness and spending cuts stifle demand

House prices will slump by 20 per cent over the next two years, experts have warned.

The property market is heading for a ‘double-dip’ as rising unemployment and spending cuts strangle demand, according to the analysis.

Interest rates are likely to be increased in the coming months to keep rising inflation in check and higher mortgage costs seem certain to add momentum to plunging property prices.

They dreamt of a better life on the Costas. Now villa values have HALVED, pensions have crashed - and they can't afford to come home. Now for the really bad news, it's about to get even worse

Seven years ago, Marian Henderson moved to the south of Spain with £1million in her pocket.

But when - or perhaps that should be if - she finally makes it back to Britain, she will be lucky to do so with one quarter of that sum.

She’s no spendthrift - the money she has lost has been on bricks and mortar.

Full bear mode in the Wail today.

Share this post


Link to post
Share on other sites

British family is shrinking as 60 per cent of parents say we can't afford a second child

Almost two thirds of parents who have one child say they are too poor to have a second.

The crippling cost of bringing up youngsters means the average size of a British family is ‘shrinking’, a report claimed yesterday.

It found the average bill for raising a child from birth until the age of 21 is around £270,000.

And there's this in the Wail as well.

Share this post


Link to post
Share on other sites

:blink: Fooked I tell ye.. Fooked

...I do feel some sympathy for the Brits that sold everything they had to move abroad for a new life, and are now stuck holding something nobody wants..... these large houses with pools require regular maintenance, why buy a home with stables if you do not have a horse...man can't live on marmalade alone.

...one comment said 'don't buy something you can't walk away from'.....they could walk, but life will be far different from how it was...such is life. ;)

Share this post


Link to post
Share on other sites
...the money she has lost has been on bricks and mortar.

But, but, you can't go wrong with pwoperty!

Can you?

Share this post


Link to post
Share on other sites

...I do feel some sympathy for the Brits that sold everything they had to move abroad for a new life, and are now stuck holding something nobody wants..... these large houses with pools require regular maintenance, why buy a home with stables if you do not have a horse...man can't live on marmalade alone.

...one comment said 'don't buy something you can't walk away from'.....they could walk, but life will be far different from how it was...such is life. ;)

The eggsperts always told them they had "rental potential"

alamb.jpg

post-15752-0-86262300-1298279209_thumb.jpg

Share this post


Link to post
Share on other sites

The eggsperts always told them they had "rental potential"

alamb.jpg

Maybe this will spawn a new TV show, T1ts up in the sun!

Edited by Patfig

Share this post


Link to post
Share on other sites

Some sympathy for those wholly sucked in relying on 'experts' now finding themselves up the creak.

BUT - the lessons are still not being learned - people not caring about income post working age; future energy costs; future health / care costs. Still this gross sense of inflated entitlement remains. Makes me sick.

Share this post


Link to post
Share on other sites

...I do feel some sympathy for the Brits that sold everything they had to move abroad for a new life, and are now stuck holding something nobody wants.....

where did they get their money? Selling up in the UK at vastly inflated prices to buy in spain at vastly inflated prices. Only difference is spain has crashed first. Give it a while

Share this post


Link to post
Share on other sites

Some sympathy for those wholly sucked in relying on 'experts' now finding themselves up the creak.

BUT - the lessons are still not being learned - people not caring about income post working age; future energy costs; future health / care costs. Still this gross sense of inflated entitlement remains. Makes me sick.

Property "expert" from the Richard & Judy show Sarah Drane:

Negative equity is a real fear for Sarah Drane, who bought her property in Spain five years ago for 194,000 euros (£162,000) after moving to the Costa del Sol to work.

Sarah, 32, who has her own public relations company, the Purple Cake Factory, moved to Majorca a year ago, but was reluctant to sell her property in Ojen, near Marbella, in case the move did not work out.

However, she now regrets her decision as she currently has it on the market for 25,000 euros less than she paid for it - and if the price falls any lower, she will have to find additional cash to pay off the rest of the mortgage.

'If it goes any lower, I will be in negative equity,' she says. 'It is the first property I have bought and I feel as if I have failed. Everyone else goes up property ladders, and I feel like I am going down one.'

Read more: http://www.dailymail.co.uk/money/article-1337826/Should-holiday-home-owners-stay-PIGS-storm.html

Share this post


Link to post
Share on other sites

If you search for "distressed property spain" you'll find loads of apartments on the market that were bought off plan to "flip" that haven't quite worked out!

The prices they are asking now are ridiculous - around £180k for a 2 bed room place in the middle of a poorly maintained complex miles from anything - but the prices they paid for them is the really scary bit. In some cases £400k plus now reduced to less than £200k.

There must be a lot of rich Spanish builders and dodgy ex-pat estate agents - they always say the people who made money in the gold rush were those selling shovels and jeans.

Share this post


Link to post
Share on other sites

half price houses in Spain.....just you cant actually buy them as the banks just sit on them.

Share this post


Link to post
Share on other sites

where did they get their money? Selling up in the UK at vastly inflated prices to buy in spain at vastly inflated prices. Only difference is spain has crashed first. Give it a while

...there is that, Spain and other countries that used unearned,unreal borrowed money taken from the future to spend today to boost their quality of life will see further falls...we are all linked in many ways, we are all in this mess together....it is not possible to spend more than you have coming in for any length of time....time is running out.....back to life back to reality. ;)

Share this post


Link to post
Share on other sites

There must be a lot of rich Spanish builders and dodgy ex-pat estate agents - they always say the people who made money in the gold rush were those selling shovels and jeans.

You also forgot a lot of dodgy mayors and councillors who took back-handers to allow massive overdevelopment.

Share this post


Link to post
Share on other sites

(...)

Full bear mode in the Wail today.

Seven years ago, Marian Henderson moved to the south of Spain with £1million in her pocket.

But when - or perhaps that should be if - she finally makes it back to Britain, she will be lucky to do so with one quarter of that sum.

She’s no spendthrift - the money she has lost has been on bricks and mortar.

But but but "you can't go wrong with Bricks and Mortar!" :(:(:(

Share this post


Link to post
Share on other sites

You also forgot a lot of dodgy mayors and councillors who took back-handers to allow massive overdevelopment.

Where and how will they now find this lost source of lucrative income? :unsure:

Share this post


Link to post
Share on other sites

...I do feel some sympathy for the Brits that sold everything they had to move abroad for a new life, and are now stuck holding something nobody wants..... these large houses with pools require regular maintenance, why buy a home with stables if you do not have a horse...man can't live on marmalade alone.

...one comment said 'don't buy something you can't walk away from'.....they could walk, but life will be far different from how it was...such is life. ;)

These people are the human face of malinvestment.

If, say, a million Brits lost 100k each in Spain, that is £100 billion lost, just there.

Share this post


Link to post
Share on other sites

These people are the human face of malinvestment.

If, say, a million Brits lost 100k each in Spain, that is £100 billion lost, just there.

.....but have they lost it?.....that £100k never existed, it was never earned or paid for. ;)

Share this post


Link to post
Share on other sites

.....but have they lost it?.....that £100k never existed, it was never earned or paid for. ;)

Tell that to the UK buyers (now mortgaged) of these expats' UK properties.

As you know, most of these expats sold their UK properties to move abroad.

Share this post


Link to post
Share on other sites

Property "expert" from the Richard & Judy show Sarah Drane:

ROFL!

She’s no spendthrift - the money she has lost has been on bricks and mortar.

!!!

Share this post


Link to post
Share on other sites

I can't see Spain ever recovering because too many Brits know now that you can get seriously screwed buying property in Spain. You can buy a house and they change the law a few years later and take it back or knock it down.

I have heard many Brits state that they would not buy there now because of this.

Maybe in 10 years they might be getting loads of Russians or Poles or whoever to run the scam on them. Long way to fly from Eastern Europe though.

I can't see Spain recovering.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.