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TheCountOfNowhere

Be Afraid

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Purely anecdotal.

An friend of mine says a bloke down the pub knows a man who works as an E.A.

The word on the street is the market has dried up and no one is buying. Prices are just too high.

If I were a seller and missed the 2013 FLS give away, i'd be worried right now.

It seems, the house price boat has sailed.

Edited by TheCountOfNowhere

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Purely anecdotal.

An friend of mine says a bloke down the pub knows a man who works as an E.A.

He word on the street is the market has dried up and no one is buying. Prices are just too high.

If I were a seller and missed the 2013 FLS give away, i'd be worried right now.

It seems, the house price boat has sailed.

pleas be true. as i waiting for nice house at right price

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Purely anecdotal.

An friend of mine says a bloke down the pub knows a man who works as an E.A.

He word on the street is the market has dried up and no one is buying. Prices are just too high.

If I were a seller and missed the 2013 FLS give away, i'd be worried right now.

It seems, the house price boat has sailed.

Would be nice if this is widespread. TBH ive stopped looking as i refuse to sign myself up to this monumental madness, it was already a joke 10 years ago. I dont believe that prices will start dropping for another year or so.

Meanwhile im looking to move abroad.

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Knocking prices back to 2013 prices would be enough to kickstart again.

House came on at 2013 prices last week, I had to double take and wondered if it had some major impairment - but it sold next day.

In the south-east I think we've reached the upper limit of people's ability to borrow. It doesn't mean there will be a correction, I think it's going to top-out and the regions will start ramping.

As I've said before - flats in Manchester look stupid cheap right now - maybe that's just some oversupply blip but they're 25% of equivalent London.

The low transaction levels do introduce an interesting factor though - the EAs are not getting benefit of this 'boom' - maybe they'll use the new lending constraints to talk sellers down a bit.

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Knocking prices back to 2013 prices would be enough to kickstart again.

House came on at 2013 prices last week, I had to double take and wondered if it had some major impairment - but it sold next day.

In the south-east I think we've reached the upper limit of people's ability to borrow. It doesn't mean there will be a correction, I think it's going to top-out and the regions will start ramping.

As I've said before - flats in Manchester look stupid cheap right now - maybe that's just some oversupply blip but they're 25% of equivalent London.

The low transaction levels do introduce an interesting factor though - the EAs are not getting benefit of this 'boom' - maybe they'll use the new lending constraints to talk sellers down a bit.

When rates go up it ends. Russia is giving the US reasons to try higher rates out for size?

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Purely anecdotal.

An friend of mine says a bloke down the pub knows a man who works as an E.A.

The word on the street is the market has dried up and no one is buying. Prices are just too high.

He doesn't work as an EA in London then. A terraced house a couple of doors down just went on the market at 40% more than the house next door (identical) sold for in Nov last year and there were viewers swarming all over it at the weekend. Mind you this is a 2 (and a half) bed terraced house that has gone on for £1.3m close in a run down part of North London so it is a real bargain....

Edited by repetitive bleats

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Purely anecdotal.

An friend of mine says a bloke down the pub knows a man who works as an E.A.

The word on the street is the market has dried up and no one is buying. Prices are just too high.

If I were a seller and missed the 2013 FLS give away, i'd be worried right now.

It seems, the house price boat has sailed.

They'll prop it up until at least election time, barring a major international incident that they can't control.

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He doesn't work as an EA in London then. A terraced house a couple of doors down just went on the market at 40% more than the house next door (identical) sold for in Nov last year and there were viewers swarming all over it at the weekend. Mind you this is a 2 (and a half) bed terraced house that has gone on for £1.3m close in a run down part of North London so it is a real bargain....

People will be saying at the end of the year....were we all mad...guv'nor

I suspect we are seeing the death throws of the liar loan BT-ers trying to get in before prices shoot up....only trouble is....reality.

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When rates go up it ends.

It's all about buyer demand tapering away.

Interest rate rises would only be good to help stifle demand even more. And mortgage lending teaser rates have only been dropped so low on teaser deals to lure in the ever greater fool, willing to pay higher and higher prices.

The people who are best placed to bring about HPC are older outright and equity rich owners. Buyer demand ebbs away, no more greater fools, and it doesn't take too many of the equity rich older owners, trying to find a buyer, to get realistic and accept a lower price. Which in turn impinges on value of other surrounding houses.

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... in a run down part of North London so it is a real bargain....

Any chance of a postcode? .... quite fancy cheering myself up by taking a look on rightmove!

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It's all about buyer demand tapering away.

Interest rate rises would only be good to help stifle demand even more. And mortgage lending teaser rates have only been dropped so low on teaser deals to lure in the ever greater fool, willing to pay higher and higher prices.

The people who are best placed to bring about HPC are older outright and equity rich owners. Buyer demand ebbs away, no more greater fools, and it doesn't take too many of the equity rich older owners, trying to find a buyer, to get realistic and accept a lower price. Which in turn impinges on value of other surrounding houses.

None of that will happen until rates go up though? Rates up = Everyone knows it`s over, at the moment we are just paddling along in La La land.

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Purely anecdotal.

An friend of mine says a bloke down the pub knows a man who works as an E.A.

The word on the street is the market has dried up and no one is buying. Prices are just too high.

If I were a seller and missed the 2013 FLS give away, i'd be worried right now.

It seems, the house price boat has sailed.

What area is this? Please say London...

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None of that will happen until rates go up though? Rates up = Everyone knows it`s over, at the moment we are just paddling along in La La land.

Why not?

There's been a rush-frenzy of buyers. HTB1 has sucked in a lot of the buyer demand, into new-houses. That's buyer competition taken away from secondary-market houses. Prices at or above peak in many areas.

The asking prices by themselves may see buyer demand fall away, regardless of how much cheap money is on offer to borrowers.

And buyer demand may fall away just on asking prices alone. Teaser rate mortgages can't get that much lower. Of course there's other tricks like new BTLer-pensioners wading in, overseas buyers willing to pay any price just for some capital preservation compared to perceived risks in their home-regimes, or money given to institutions to throw about like crazy keeping prices high and supply off market.

Pent Up Housing Demand - Gradually Exhausting Itself

RICS says

March 2014

http://www.housepricecrash.co.uk/forum/index.php?showtopic=197307

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Why not?

There's been a rush-frenzy of buyers. HTB1 has sucked in a lot of the buyer demand, into new-houses. That's buyer competition taken away from secondary-market houses. Prices at or above peak in many areas.

The asking prices by themselves may see buyer demand fall away, regardless of how much cheap money is on offer to borrowers.

And buyer demand may fall away just on asking prices alone. Teaser rate mortgages can't get that much lower. Of course there's other tricks like new BTLer-pensioners wading in, overseas buyers willing to pay any price just for some capital preservation compared to perceived risks in their home-regimes, or money given to institutions to throw about like crazy keeping prices high and supply off market.

Hope you are right. It is coming, how it comes doesn`t matter too much to me, but I think the shock of rising rates would focus the minds of those needing to sell, and potential buyers.

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Purely anecdotal.

An friend of mine says a bloke down the pub knows a man who works as an E.A.

The word on the street is the market has dried up and no one is buying. Prices are just too high.

If I were a seller and missed the 2013 FLS give away, i'd be worried right now.

It seems, the house price boat has sailed.

And in response my mate has put his house up for sale and got the asking price offered in under a week. I'm guessing it might be dependent on the area you live. If it's rich and affluent I'm guessing the housing market is still vibrant.

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No doubt the minority etonian 1%-ers government will have a new scheme out any moment now.

Yeah the other lot are much better. What is it with party politics? THEY'RE ALL THE SAME!!!

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If it's rich and affluent I'm guessing the housing market is still vibrant.

And if the area is vibrant it's not rich and affluent

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And in response my mate has put his house up for sale and got the asking price offered in under a week. I'm guessing it might be dependent on the area you live. If it's rich and affluent I'm guessing the housing market is still vibrant.

Amen.

I'm as bearish as a hirsute mofo shitting in the woods but I gave the missus to offer asking price on her first viewing before I had chance to.

She got told to come back with best and final offer by a week or so later. Twice.

And didn't 'win'. Twice.

Edited by 7 Year Itch

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The Osborne/Coalition's house price policy is similar to the Conservatives electioneering Barber Boom of the early 70s in the approach to the 1974 General Election which the Conservatives failed to win.

It'll be interesting to see if the result of the Osborne Boom turns out to be similar this time. After all there are many sayings on the matter such as "History does not repeat itself, but it does rhyme" and another one is "No occurrence is sole and solitary, but is merely a repetition of a thing which has happened before, and perhaps often". The words "perhaps often" certainly applies to the manipulated electioneering house price booms in the UK.

http://

weneedtotalkaboutdominic.wordpress.com/2012/07/18/its-the-economy-2/

1. The Barber boom (the reflationary budget of March 1972) leading to an inflationary credit boom and overheated economy.

2. A balance of payment crisis.

3. “Above all” the oil shock of October 1973.

4. The response to this was a credit squeeze, leading to a collapse in housing and other markets and public spending cuts.

5. The stock market going into “cardiac shock”

That was the Conservatives handling of the economy in those days - not that the other lots are any better as shown by the recent years of Labour and now the LibDems of course supporting the current Conservative/LibDem Coalition's economic and house price policies.

http://

en.wikipedia.org/wiki/Labour_Government_1974%E2%80%9379

...

Formation

After the February 1974 general election, no party had a majority of seats. The incumbent Conservative party won the popular vote, but Labour took the most seats. Edward Heath, the Conservative prime minister, attempted to negotiate a coalition with the Liberal party, but resigned as prime minister after failing in this regard. The Labour Party, led by Harold Wilson, then established a minority government.

It was generally recognised that this had no long-term stability, and the October 1974 general election was held, the Wilson government gaining a majority of three seats.

The economy was in recession by the time of the first election, but economic growth was re-established by the end of 1975, although inflation which had run into double digits before Labour came to power was now above 20%. It would remain high for the rest of this government.

In March 1976, after his sixtieth birthday, Wilson resigned as prime minister. He was replaced by James Callaghan.

Within a year of Callaghan taking office, the narrow Labour majority was eliminated due to by-election defeats and in order to remain in power, Labour formed the Lib-Lab pact in March 1977 and this remained in force for 16 months. This minority government also managed to stay in power with unofficial deals with the Ulster Unionist Party and Scottish National Party.

By September 1978, economic growth had picked up and inflation was below 10%, and with most of the opinion polls showing a clear Labour lead it was widely expected that prime minister James Callaghan would call a general election that autumn, despite having another year to do so. However, he resisted these calls and Britain began 1979 with Labour still in power and Callaghan still in charge.

Fate

With strikes affecting Britain during the Winter of Discontent (late 1978/early 1979) and inflation back in double digits, the loss of a motion of no confidence in 1979 precipitated a General Election, which the Conservatives won - with their leader Margaret Thatcher becoming Britain's first female prime minister.

James Callaghan would continue to lead Labour in opposition for 18 months before stepping down to make way for Michael Foot.

Edited by billybong

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Yeah the other lot are much better. What is it with party politics? THEY'RE ALL THE SAME!!!

Mostly that's true- but ironically only a Conservative Chancellor could get way with directly subsidizing the deposits of people buying private homes- if Ed Balls tried that he would be lynched by the left who be demanding the money be spent on social housing instead.

So the people on here who voted Tory in the last election might have done better to vote labor, at least in terms of house prices.

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Read in that what you will, but my wife is back to the UK this week and she's casually arranged to view some flats/houses in Newcastle. She first contacted EAs last month, and they were the usual sloppy, late and sending completely irrelevant properties to view.

This week she's been bombarded with calls/emails with more options and on every one of them they said (willing to negotiate/what's your offer).

I'll keep you updated and will share some of the stories.

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And in response my mate has put his house up for sale and got the asking price offered in under a week. I'm guessing it might be dependent on the area you live. If it's rich and affluent I'm guessing the housing market is still vibrant.

Likewise a couple I know have accepted an offer on their place after 2 weeks on the market. I didn't ask what the amount was but 'more than expected' was mentioned.

On the flipside neighbours of friends are moving away and are keeping the old place(4 bed detached) to rent out, another new entrant BTL 3% gross yielder in the making.

Edited by The Knimbies who say no

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