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gruffydd

Birmingham Mail: How much you could lose if the property market crashes in 2017

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17 minutes ago, gruffydd said:

http://www.birminghammail.co.uk/news/property/how-much-you-could-lose-12473416

Economists predict a burst in the property market bubble - here is how much money it could cost homeowners...

Nice to see an estate agent (emoov) finally going for the 'let's scare the sh*t out of sellers' approach to get some transactions going

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10 hours ago, Patient London FTB said:

Nice to see an estate agent (emoov) finally going for the 'let's scare the sh*t out of sellers' approach to get some transactions going

Based on the other comments I've read from emoov, I'd say this was more an attempt to scare the sh*t out of the government to persuade them to deploy more props to stop it happening.

Either way, it's a completely pointless bit of "research". What on earth is the value in taking the % drop last time and simply applying it to today's prices? Any idiot (except an estate agent, arguably) could do that with the calculator on their smartphone - it doesn't bear any relation to what actually will happen when prices finally do drop again.

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" Those considering a sale now would be wise to act before it’s too late, as a reduction in asking price of a few hundred pounds in the current market climate, is a lot easier to stomach than a loss of up to £80,000 a year or so down the line should the market crash.” "

 

SELL NOW....BEFORE YOU MISS OUT.

 

 

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10 hours ago, gruffydd said:

 

Economists predict a burst in the property market bubble - here is how much money it could cost homeowners...

Nothing whilst they are using it, living in it.......Home payers the biggest cost to them would be an interest rate rise.....If/when we see property falls they might have to say living in it longer paying down debt commitment...If not and they choose to walk away they will lose equity and be homeless......The biggest losers will be the lenders, if/when the property is worth less than the debt attached to it and the borrower defaults because has another place to stay.....;)

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12 minutes ago, thisisthisitmaybe said:

Why are they calling the 2008 minor correction a "monumental crash"?! 

Because people have forgotten and it's not possible to frighten people about an event that happened 10 years ago !!!

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1 minute ago, TheCountOfNowhere said:

Because people have forgotten and it's not possible to frighten people about an event that happened 10 years ago !!!

I think it is to suggest we have already had a crash 10 years ago, hence we are not due another one for a long time yet...whereas in reality there was no real crash 10 years ago, and we are very much due a big one anytime soon.

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23 minutes ago, thisisthisitmaybe said:

Why are they calling the 2008 minor correction a "monumental crash"?! 

Maybe its to reassure people that 'a crash' is easy to recover from and everything will go back to normal a year later, as in 2008.

A real crash would be very different 

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54 minutes ago, TheCountOfNowhere said:

" Those considering a sale now would be wise to act before it’s too late, as a reduction in asking price of a few hundred pounds in the current market climate, is a lot easier to stomach than a loss of up to £80,000 a year or so down the line should the market crash.” "

 

SELL NOW....BEFORE YOU MISS OUT.

 

 

Good old Fear Of Missing Out. It builds up the bubble, it collapses the bubble. I'm expecting to hear about some exceptionally cheeky offers being accepted in the Anecdotals section over the next five years. 

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I am seeing what points to a crash - only in last 2 weeks though! I've been silent for a few months as only come on here when I see a shift downwards. Sentiment has suddenly gone down the crapper! 

Edited by gruffydd

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1 hour ago, gruffydd said:

I am seeing what points to a crash - only in last 2 weeks though! I've been silent for a few months as only come on here when I see a shift downwards. Sentiment has suddenly gone down the crapper! 

Any thoughts on why ?

If the Birmingham Mail/The times are to believed people are now expecting a "slump" or a full blown crash.

 

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