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Reallity Check, What The Hell Is Going On?


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Yes. For years on HPC people have been saying 'a crash is just around the corner' and yet it never comes.

Hmmm...another person who has missed the obvious:

homepage.png

The crashed started in 2007. Did you miss that ?

but there's going to be no HPC House Price boom equivalent of the Second Coming...

Corrected for accuracy.

Edited by TheCountOfNowhere
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Hmmm...another person who has missed the obvious:

homepage.png

The crashed started in 2007. Did you miss it ?

I think my point was that there is a tendency on HPC to think an 'event' is coming (usually a return to prices based on 3x joint salary mortgages), but it never does. A 'crash' of sorts started in '07 but it still hasn't filtered through to most people because of ZIRP, (alleged) bank shell companies buying up repos, etc etc.

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Hmmm...another person who has missed the obvious:

homepage.png

The crashed started in 2007. Did you miss that ?

Corrected for accuracy.

A crash in real terms isn't really a crash is it, especially when wages are in no way keeping up with inflation.

That chart would be a lot more useful if it was shown in nominal terms, alas it wouldn't really show any crash if it was.

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Hmmm...another person who has missed the obvious:

homepage.png

The crashed started in 2007. Did you miss that ?

Corrected for accuracy.

Is there anyone on this forum, maybe in the North or Wales, who has actually benefited from the "crash" and managed to find a great property at a decent price?

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At this point I just do not understand why the UK is not right in the middle of a huge crisis.

This is a crisis. A large crisis. In fact, if you got a moment, it's a twelve-story crisis with a magnificent entrance hall, carpeting throughout, 24-hour portage, and an enormous sign on the roof, saying 'This Is a Large Crisis'.

A large crisis requires a large plan. Get me two pencils and a pair of underpants.

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I think tptb wouldn't mind a mini bubble but their priority is a long term diffusal with less obvious pain .

I seriously doubt the government have any priority beyond the next election. They're buying votes at the expense of everyones future, as usual.

You give them too much credit. 'Gimme gimme gimme' and 'how can I stay in power a little bit longer' is as far as their thinking gets. Self serving scum, each and every one.

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Is there anyone on this forum, maybe in the North or Wales, who has actually benefited from the "crash" and managed to find a great property at a decent price?

I sold in 2010 and have been in rented since. In that time we have had one baby and another is due in a few weeks so ideally we need something bigger (and the Mrs is getting on at me!).

Went to view one a few weeks ago been on for a while started over 250k think i might be able to get it for 185k - it's starting to look very tempting. Big detached house, 4 reception rooms, double garage and all bedrooms are big. Master bedroom is 21 foot by 16 foot as an example.

Very very tempted............

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Just can't understand why people are putting up with it,

Most of them still think that salvation takes the form of a cheap loan so they can "get on the ladder", and blame the nasty banks for not lending them enough.

Edited by goldbug9999
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I sold in 2010 and have been in rented since. In that time we have had one baby and another is due in a few weeks so ideally we need something bigger (and the Mrs is getting on at me!).

Went to view one a few weeks ago been on for a while started over 250k think i might be able to get it for 185k - it's starting to look very tempting. Big detached house, 4 reception rooms, double garage and all bedrooms are big. Master bedroom is 21 foot by 16 foot as an example.

Very very tempted............

Best of luck. It's good to hear that it's working out well for at least some on this forum. Most seem no closer to a happy ending than they were pre-2007.

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Best of luck. It's good to hear that it's working out well for at least some on this forum. Most seem no closer to a happy ending than they were pre-2007.

cheers mate.

i'm in the hyndburn area and although prices have dropped i thought they would have dropped more.

it's quite a low wage area, no idea how people were buying terraces for 100k that were 15k when i was young!

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Is there anyone on this forum, maybe in the North or Wales, who has actually benefited from the "crash" and managed to find a great property at a decent price?

Yeah, I rent a £300K house ( neighbor sold theirs a short while ago so is a good metric ) for £850 a month, I'm saving a fortune not owning.

Edited by TheCountOfNowhere
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A request: please don't put the words "ukip" and "edl" next to each other. It just reinforces the MSM meme that ukip are just a bunch of racist thugs.

If they don't want to be seen in that light, perhaps they should rethink their decision to sit in Parliament alongside a party whose members described the election of Obama as "the end of white man's civilisation".

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  • 2 weeks later...

Best of luck. It's good to hear that it's working out well for at least some on this forum. Most seem no closer to a happy ending than they were pre-2007.

You are right. For ten years now I've been waiting for the proper correction in house prices. Now I am just older and becoming increasingly bitter and frustrated. I had the choice to join the party again in 2003, I viewed us in bubble territority. A 3 small bed detached would have cost £160K then. Now a small 3 bed detached costs about £180K. I could have rode this bubble and still ended off up, and been able to move on with my life 10 years ago.

It's got in the way of relationships because I wouldn't by any means buy a house at these prices. I still won't even though I can buy with cash now. Why should I risk my life savings on a vastly overpriced asset in the basketcase UK.? So now considering abroad due to below inflation investment rates. Still expecting a correction but who knows when, it might be 15-20 years away. I am old and can't wait that amount of time.

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Is there anyone on this forum, maybe in the North or Wales, who has actually benefited from the "crash" and managed to find a great property at a decent price?

Yes. I got ours in Wales last year for around 40% off what a neighbour paid in 2007. Theirs is better to be fair - a bigger garden. Our house also had other "problems" which might well have put a lot of others off. The price we paid was 2002-3 level - so not quite back to before the bubble (it would have to be 75% off for that) - but still most of the bubblyness taken out.

The seller was really desperate though - they were reducing by around £10K each month for several months and I knocked nearly another 20% off the asking price on top of that.

Mine was a rarity rather than the norm though. It took the missus and I two years to find it. I offered on around a dozen places - but this was the only real bite. There are some sellers here who've been on the market for three years - knocking the odd £5K off, increasing by £10K etc. And many sellers who are in negative equity and cannot afford to reduce further. It is drifting downwards though and there's very little activity.

I'd say, West Yorkshire is prime crash region as well. In the space of five years - I saw asking prices on our street go from £125K to £80K. Again those who bought at £100K in 2007/8 - are now completely stuck and are also suffering due to reduced/less secure employment too.

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  • 415 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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