Jump to content
House Price Crash Forum
TheCountOfNowhere

The Housing Market Looks To Be Broken.

Recommended Posts

Been looking at listings around northants for a couple of weeks now and from what I see on the ground the housing market looks to be in real trouble

Asking prices are going exponential and houses arent selling ( apart from the real bottom end BTL type places ).

I'm seeing places sit around all year now, some with sold some not. I've seen a few sold signs come down only to reappear a few weeks later.

The market looks to being going full zombie.

The words "desperation" from buyers/sellers/banks/EAs would be the word to best describe it.

Most people couldnt buy into this madness even if they wanted to.

Surely the numbers spreading out from Central London are gonig to hit very very soon.

Till then...buckle up, enjoy the ride, befriend a BTLer so you can say "I told you so" in 12 months time.

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

Northampton is a riddle wrapped in a mystery inside an enigma. A low wage town attracting EU workers, and yet with huge house prices. The high street offerings (pound / discount / tat / car queues outside Aldi) suggest the demographic are less-endowed financially speaking. And still....you need to be Rockerfeller to own a 3-bed semi there.

Share this post


Link to post
Share on other sites

Northampton is a riddle wrapped in a mystery inside an enigma. A low wage town attracting EU workers, and yet with huge house prices. The high street offerings (pound / discount / tat / car queues outside Aldi) suggest the demographic are less-endowed financially speaking. And still....you need to be Rockerfeller to own a 3-bed semi there.

Just say a 3 bed new build listed at 400K.

3 bed's were selling for £150K 3 years go.

3 beds 3 years ago should have been valued at £100K.

You can see why buying now would be insanity of the highest order.

As someone said on another thread, this is just speculation now, nothing else.

A lot of famllies/young people will be caught up in this stupidity tho

Share this post


Link to post
Share on other sites

Just say a 3 bed new build listed at 400K.

3 bed's were selling for £150K 3 years go.

3 beds 3 years ago should have been valued at £100K.

You can see why buying now would be insanity of the highest order.

As someone said on another thread, this is just speculation now, nothing else.

A lot of famllies/young people will be caught up in this stupidity tho

3-beds these days should be sold between £80K to £100K if Northampton is to get back to its old self again. Just like a lot of places, housing is holding it back. It's holding back mobility, chewing up disposable income, decimating the highstreet and retail, creating insane commuting times, and forcing people to rent well into their 40s.

Share this post


Link to post
Share on other sites

BTL has kept a lot people connected to housing in gainful employment.

The majority of transaction in the last 10-15 years have been BTL.

That's ended, dead.

All those BTL IO purchases will find there way back on the market in the next couple of years.

Share this post


Link to post
Share on other sites

3-beds these days should be sold between £80K to £100K if Northampton is to get back to its old self again. Just like a lot of places, housing is holding it back. It's holding back mobility, chewing up disposable income, decimating the highstreet and retail, creating insane commuting times, and forcing people to rent well into their 40s.

Yup. I'm afraid that this is hapenning all over the UK in one form or another. It is rotten to the core -- and will rot the UK to the core.

Terrible. It's just terrible. And the MSM is NOT reporting it as headline news...... There's a surprise. [Not].

I actually really despair for this country,

You know what --- it reminds me SO much of the Corn Laws of the early 19th Century..... https://en.wikipedia.org/wiki/Corn_Laws

Parliament - i.e. MPs and Lords - rigged the whole price of basic daily bread so that MPs and Peers who owned the land that produced it kept the "price" rigged really high and taxed cheaper imports ---- Just so that they could carry on living like Lords whilst the lower classed nearly starved. The situation today is EXACTLY the same --- just this time it's the rigging of the housing of the UK --- i.e. deliberately not building enough, building slave rabbit hutches when they do build, lending out fraudulent & market-manipulating PREDATORY LIAR LOANS............. It's all rigged to artificially and fraudulently keep the "prices" insanely high --- and the ordinary person is having his/her life wrecked as a result. It is just so scandalous.

Edited by eric pebble

Share this post


Link to post
Share on other sites

3-beds these days should be sold between £80K to £100K if Northampton is to get back to its old self again. Just like a lot of places, housing is holding it back. It's holding back mobility, chewing up disposable income, decimating the highstreet and retail, creating insane commuting times, and forcing people to rent well into their 40s.

Dont know Northampton. Never had a need or desire to visit.

I keep repeating myself but tax credits and HB will be withdrawn from EUers.

80% of the those new immgrants cannot afford to live their without a sub.

The boom in places like Northampton is a combination of IO BTL, low IRs and TC/HB for non UK nationals.

Share this post


Link to post
Share on other sites

BTL has kept a lot people connected to housing in gainful employment.

The majority of transaction in the last 10-15 years have been BTL.

That's ended, dead.

All those BTL IO purchases will find there way back on the market in the next couple of years.

BTL has destroyed the country.

Free levered money for the masses.

It collapsed in 2007 and was slowly declinging till Osborne Carney and Estate Agent Dave "helped" us all

Share this post


Link to post
Share on other sites

Yup. I'm afraid that this is hapenning all over the UK in one form or another. It is rotten to the core -- and will rot the UK to the core.

Terrible. It's just terrible. And the MSM is NOT reporting it as headline news...... There's a surprise. [Not].

I actually really despair for this country,

You know what --- it reminds me SO much of the Corn Laws of the early 19th Century..... https://en.wikipedia.org/wiki/Corn_Laws

Parliament - i.e. MPs and Lords - rigged the whole price of basic daily bread so that MPs and Peers who owned the land that produced it kept the "price" rigged really high and taxed cheaper imports ---- Just so that they could carry on living like Lords whilst the lower classed nearly starved. The situation today is EXACTLY the same --- just this time it's the rigging of the housing of the UK --- i.e. deliberately not building enough, building slave rabbit hutches when they do build, lending out fraudulent & market-manipulating PREDATORY LIAR LOANS............. It's all rigged to artificially and fraudulently keep the "prices" insanely high --- and the ordinary person is having his/her life wrecked as a result. It is just so scandalous.

Cant argue with that....I'll be putting it on twitter shortly....

Share this post


Link to post
Share on other sites

I keep repeating myself but tax credits and HB will be withdrawn from EUers.

80% of the those new immgrants cannot afford to live their without a sub.

Wishful thinking (for both you and me) or is there any evidence that this has now been proposed? I'll reserve my little happy dance until I hear back from you.

My neighbour relies on EE's to run his farm. They live on-site but pay no council tax yet get to claim credits/benefits.

My Mrs was asking how they all seemed to be able to run nice cars (12 parked there at the moment). I had to explain how it all worked.

Share this post


Link to post
Share on other sites

Wishful thinking (for both you and me) or is there any evidence that this has now been proposed? I'll reserve my little happy dance until I hear back from you.

My neighbour relies on EE's to run his farm. They live on-site but pay no council tax yet get to claim credits/benefits.

My Mrs was asking how they all seemed to be able to run nice cars (12 parked there at the moment). I had to explain how it all worked.

TC are soo expensive that they should have be removed 2010.

First step will be getting rid of non-UK nationals.

Its a no brainer.

Id bet on it.

Share this post


Link to post
Share on other sites

Yup. I'm afraid that this is hapenning all over the UK in one form or another. It is rotten to the core -- and will rot the UK to the core.

Terrible. It's just terrible. And the MSM is NOT reporting it as headline news...... There's a surprise. [Not].

I actually really despair for this country,

You know what --- it reminds me SO much of the Corn Laws of the early 19th Century..... https://en.wikipedia.org/wiki/Corn_Laws

Parliament - i.e. MPs and Lords - rigged the whole price of basic daily bread so that MPs and Peers who owned the land that produced it kept the "price" rigged really high and taxed cheaper imports ---- Just so that they could carry on living like Lords whilst the lower classed nearly starved. The situation today is EXACTLY the same --- just this time it's the rigging of the housing of the UK --- i.e. deliberately not building enough, building slave rabbit hutches when they do build, lending out fraudulent & market-manipulating PREDATORY LIAR LOANS............. It's all rigged to artificially and fraudulently keep the "prices" insanely high --- and the ordinary person is having his/her life wrecked as a result. It is just so scandalous.

Littleport's hunger riots: Descendants mark the 200th anniversary.

http://www.bbc.co.uk/news/uk-england-cambridgeshire-36276197

Share this post


Link to post
Share on other sites

Littleport's hunger riots: Descendants mark the 200th anniversary.

http://www.bbc.co.uk/news/uk-england-cambridgeshire-36276197

Will we eventually see housing riots ?

Cant see there being much difference between forcing up the price of bread and keeping the price of bread low but forcing up the cost of shelter so one cannot afford bread.

It comes back to what I have said for 12 months+

Carney and Osborne should be jailed for that they have done, Cameron too with his smarmy ( IMHO ) estate agent demeanour telling everyone he is helping them

Share this post


Link to post
Share on other sites

http://www.totallymoney.com/best-places-in-the-uk-to-make-a-living/

Quite interesting when you look at that makes you wonder why anyone wants to live and work in South , wages just dont make up for housing ..No idea also why Luton so high

BTL speculation.

Nothing more.

Nothing less.

Some people think the free money will last forever and they want their share.

Edited by TheCountOfNowhere

Share this post


Link to post
Share on other sites

Not read it in detail but apparently Zoopla has a report out stating that FTBers are now being hit with a double whammy of increasing house prices and reduced availability of mortgages due to lenders "reduced appetite for risk"

Obviously one has to be aware of the v.i. source, but assuming it is true it's just another example of how broken and irrational the property market is... credit supply becomes restricted yet house prices still rise!!

Share this post


Link to post
Share on other sites

Total anecdotal but in the small area I am currently monitoring one guy has his house with four different agents, all of whom have listed the same property on rightmove- the result being that this one house now appears four times with slightly different photos and makes up nearly half the results that Rightmove returns for that price band and area- clearly the guy is fairly desperate to sell- yet the price remains a constant, the same asking price now as it was nine months ago.

It does not seem to occur to this guy that having his house appear four times in a row on rightmove suggests that he might be having a problem selling it and probably makes a sale less rather than more likely, nor does it seem to occur to him to lower his asking price, which in his mind is clearly some kind of universal constant inherent in the fabric of spacetime.

Share this post


Link to post
Share on other sites

Total anecdotal but in the small area I am currently monitoring one guy has his house with four different agents, all of whom have listed the same property on rightmove- the result being that this one house now appears four times with slightly different photos and makes up nearly half the results that Rightmove returns for that price band and area- clearly the guy is fairly desperate to sell- yet the price remains a constant, the same asking price now as it was nine months ago.

It does not seem to occur to this guy that having his house appear four times in a row on rightmove suggests that he might be having a problem selling it and probably makes a sale less rather than more likely, nor does it seem to occur to him to lower his asking price, which in his mind is clearly some kind of universal constant inherent in the fabric of spacetime.

The old, "my house is worth what I want it to be" schoolboy error perchance?

Share this post


Link to post
Share on other sites

The old, "my house is worth what I want it to be" schoolboy error perchance?

I'd rather catch a falling knife from a 1 foot drop than later on at 30 foot.

Someone I know recently move into a 1 bedroom flat for £162 per week. I've just been there it smells a bit like old fags, dogs and discreet piss. Someone aged 70 also confirmed to me "yes cat's piss" so it's not just my young more acute sense of smell.

Share this post


Link to post
Share on other sites

Total anecdotal but in the small area I am currently monitoring one guy has his house with four different agents, all of whom have listed the same property on rightmove- the result being that this one house now appears four times with slightly different photos and makes up nearly half the results that Rightmove returns for that price band and area- clearly the guy is fairly desperate to sell- yet the price remains a constant, the same asking price now as it was nine months ago.

It does not seem to occur to this guy that having his house appear four times in a row on rightmove suggests that he might be having a problem selling it and probably makes a sale less rather than more likely, nor does it seem to occur to him to lower his asking price, which in his mind is clearly some kind of universal constant inherent in the fabric of spacetime.

Well --- 2008/9 was THE chance in a generation to LET things go -- and LET the market find its own level to SENSIBLE & SUSTAINABLE prices...... But the Powers-that-be were absolute moral COWARDS -- and they propped the ENTIRE Pyramid-Ponzi Scam up with HTB, Money printing, QE, etc etc etc. ....... They behaved in a TOTALLY dishonest & cowardly way --- and SO -- We are here - today --- the "market" is more rigged and skewed than it ever was..... And the UK is being STYMIED by all this. There really is NO incentive to get a job & put a roof over your head -=-- and GET ON WITH LIFE --- Because the GREEDY BTL and Landlord Class haveF* CKED this poor country of ours......

I am beyond angry - and beyond despair now. It is like being on a Kamikaze ship.... or the Titanic. We are sailing towards UTTER disaster.

Edited by eric pebble

Share this post


Link to post
Share on other sites

Sales collapsing in Cambridge as far as I can see, in my area it seems to be the same 5/10 houses going on and off the market. Either people are having second thoughts or mortgages aren't being given.

Share this post


Link to post
Share on other sites

Will we eventually see housing riots ?

Cant see there being much difference between forcing up the price of bread and keeping the price of bread low but forcing up the cost of shelter so one cannot afford bread.

It comes back to what I have said for 12 months+

Carney and Osborne should be jailed for that they have done, Cameron too with his smarmy ( IMHO ) estate agent demeanour telling everyone he is helping them

that is part of the "enclosures" act.

when the stuff really goes down in the middle east, you will see the likes of saudi/iran/iraq all offline for months.

combined with venezuela's meltdown that will cause a massive fuel shortage.

then you will get mega high food inflation because hardly anything will be shipped and it will be massively expensive.

then you'll have re-runs of littleport nationwide-not to mention a massive kick-off between the natives and the imported islamists/immigrants-will kick off hard when uncle sam is a bit disproportionate in his use of force in the ME.

the mad mullahs have been brought in to be the visible enemy to focus against, but you need to keep in mind they are merely being used as cannon fodder by other players.

Share this post


Link to post
Share on other sites

I agree with Sajid, its greed that has caused this scenario....and 'The people' have allowed it to happen through their 'I'm all right Jack'/selfish attitude, thinking they are prospering (The powers that be are allowing them) whilst they are really being shafted...irregardless of whether its Dave or Gordon (or Thatcher or Con/Lib/Lab)..these are all 'figure heads' for the greedy 1%...when will 'The people' wake up!..some examples...

I know someone who bought their council house (now worth half a mil) who complains that her son is at the whim of BTL landlords yet she doesn't make the link that she was part of the problem

VMR's agricultural neighbour who is happy to undermine the system by employing EE ('Well British people won't do that work!') who do not pay intio the system yet take from it...wonder if they have children and if they do if they have considered the implications of their actions?

To follow with an agricultural analogy...people will 'reap what they will sow', the problem is when their crops fail they will blame the weather rather than when they planted.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

  • Next General Election   90 members have voted

    1. 1. When do you predict the next general election will be held?


      • 2019
      • 2020
      • 2021
      • 2022

    Please sign in or register to vote in this poll. View topic


×

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.