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Are House Prices On The Verge Of A Major Crash?

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The high street in meltdown, unemployment rising, inflation rising, interest rates due to rise......

Are we entering the crash stage of prices dropping in excess of 1% each month?

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Read the Land Registry thread, in northern cities like Manchester house prices are already falling by y-o-y double digit percentages. A crash is already underway there, hopefully it will spread further.

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The high street in meltdown, unemployment rising, inflation rising, interest rates due to rise......

Are we entering the crash stage of prices dropping in excess of 1% each month?

I think when interest rates go up we will see it all over the country otherwise it will be a very slow process.

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Read the Land Registry thread, in northern cities like Manchester house prices are already falling by y-o-y double digit percentages. A crash is already underway there, hopefully it will spread further.

I had a good chat with a friend of mine who runs a very successful web site design company in Surrey, he has been in that business for at least 15 years. I was interested to learn that he is losing work on several fronts; to businesses closing or going under to bigger businesses cutting back budgets from 100k to 10k. He has had to let staff go and wishes he could get out his commercial property lease which still has 3 years to run. He was also bemoaning the fact that for years he had unsolicited offers to buy his company for a "tidy sum", he gets none of those now.

He also added that he could of sold a property in South Africa for over 400k a few years ago, he considers he would be lucky to get 200k now. His home is on the Surrey / Sussex boarder, he says he was offered over 450k two years ago, he doubts he could get more than 350k now. His neighbour has his house up for sale, they had it for sale at 550k last year; they were getting offers for 450k a few months ago which they turned down. They accepted the last one at 450k which failed to go any distance, they would take 400k now.

Another friend's son works in the city for a 'private bank', the big boss lost 10,000,000 this year and is $hitting himself over the future. he says there is a real lack of money out there and expects "nasty financial things to happen!" We can only guess what that means. I can only imagine there are those who are sitting on squillions but will not invest in anything now preferring for the "nasty thing" to happen first and then come in and buy "things" on the cheap.

All in all he thinks as I do that there will be no good news for many years to come, certainly no turning of the market upwards for at least three years and that's after 25% falls over the next three years. For what it is worth I was in property investments for 28 years and I think the excrement has still to hit the fan, but it will. In my opinion the market has only one way to go and God forbid interest rates go up (which the government / BOE may not always have full control of as they appear to have at this time) because if rates go up.............................

Edited by Tim Miller

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Article just on BBC News about high street chains going bust - I bet if rents were halved they would be alright..

i bet they wouldnt because theyve all been leveraged up to their derriere in debt to make full use of the govt mandated tax advantage

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Read the Land Registry thread, in northern cities like Manchester house prices are already falling by y-o-y double digit percentages. A crash is already underway there, hopefully it will spread further.

And if the Land Registry is not mix-adjusting by volume, and compensating for the exceptionally high volume of £1M plus in London, then, in the next months, after the stamp duty bump is over, we should see serious national falls.

Edited by Tired of Waiting

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Banques and gubmint have successfully pilfered the retiring generation of their pension savings, robbed the next generation of any potential prosperity, and fvcked the incoming generation for any chance of a fair world.

Domestic energy security grows weaker every passing day, our political clout geopolitical stance diminishes every day in tandem.

The only living generation to have had any positive effect on the nation are retiring, and rightfully so taking with them.

How, when faced with simple truths such as that, do you think house prices will be an issue for Britain for the next 25 years?

I'd say food, heat, education, money, and employment, and war will be far bigger issues.

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The only living generation to have had any positive effect on the nation are retiring, and rightfully so taking with them.

Do you mean the war generation (born, say, 1900-1935)? Even the youngest of them passed retirement age over a decade ago, and most people who were adults during WW2 are no longer with us.

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Do you mean the war generation (born, say, 1900-1935)? Even the youngest of them passed retirement age over a decade ago, and most people who were adults during WW2 are no longer with us.

Don't go forgetting all those who build the infrastructure that is eroding in front of your very eyes.

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Banques and gubmint have successfully pilfered the retiring generation of their pension savings, robbed the next generation of any potential prosperity, and fvcked the incoming generation for any chance of a fair world.

(...)

(...)

Another friend's son works in the city for a 'private bank', the big boss lost 10,000,000 this year and is $hitting himself over the future.

(...)

It was a monumental c0ckup, not a conspiracy.

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Do you mean the war generation (born, say, 1900-1935)? Even the youngest of them passed retirement age over a decade ago, and most people who were adults during WW2 are no longer with us.

We are probably talking folk born born pre-1963. Totally random , but 1970 was, I believe, the beginning of young trendy-lefties in teaching, replacing the old Squadron Leaders and Corporals from WW2 and National Service. Anybody without grounding, 7 to 10 years old, before the lefties got hold, has a different outlook on life, work and society. Parental outlook in these years parallels the situation and gives a +/- to the teacher profile.

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Don't go forgetting all those who build the infrastructure that is eroding in front of your very eyes.

Canals - 18th century

Turnpikes - 18th-19th centuries

Railways - 1840s

Piped drinkable water - mid-late 19th century

National Grid - 1930s

Motorways - 1960s

and so on

No one generation is responsible for the UK's infrastructure, it has evolved over time and is still being added to (airport expansions, fibre optic cable, mobile phone network etc).

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Canals - 18th century

Turnpikes - 18th-19th centuries

Railways - 1840s

Piped drinkable water - mid-late 19th century

National Grid - 1930s

Motorways - 1960s

and so on

No one generation is responsible for the UK's infrastructure, it has evolved over time and is still being added to (airport expansions, fibre optic cable, mobile phone network etc).

And who invented the fkn internet then?

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Yes it's all the lefties fault but all was saved when Countess Thatcher rescured the nation with her making money from making money philosophy.

Yeh FATCHA's fault innit!

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  • 309 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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