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Drummer

When Will We Know The Market Has Crashed?

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There are a lot of posters on here who demand lower house prices, but what are your expectations for a house price? At what point would you consider the market to have crashed and returned to "normal"?

The average house round here is 5 times wage of an average worker. Do you deem that unreasonable value?

Or is it a case of you have a fixed £figure of what a house should cost?

The way I see it, I'm better off holding out for as long as I can from buying a house. The nominal value of houses round here seem to be staying still, but ultimately losing value in real terms. Whilst past markets contradict my theory, they are no guide to future returns!

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Right now renting is compelling because I can get a lot for my money. Even given the advantages of owning (making it your own etc) and given I have not moved to another city for quite some years now, renting is still compelling value. However, few people seem to understand this.

I expect at some point houses will be so eye wateringly cheap that even if I wanted to rent out of convenience I'd simply have to buy given the silly value out there. I fully expect the rest of society to oppose me in this as everyone will have a close aquaintence or relative who will have lost their shirt by this stage.

Edited by Si1

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The end of a crash would be end when buying is a lot cheaper than renting.

Sadly I don't think prices in real terms will ever be as cheap as in the past.

Edited by iamnumerate

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When the rampers finally give it up on MSE. Anyone seen this gem?

http://forums.moneysavingexpert.com/showthread.php?t=5289096

I bet every single one of them moans and bitches about electricity, gas, petrol, food, cars etc. being too expensive.

When Alan Bennett said to be English is to be a hypocrite he was spot on. For that type of person companies make too much profit etc. but it's fine for them to turn future generations into debt slaves just so long as they get HPI forever.

Come to think of it I've thought of a totally ethical solution to animal testing, do the testing on those MSE barstewards ;)

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