THE SAGE Posted November 13, 2004 Share Posted November 13, 2004 I think it will be very likely that large parts of the country may be subject to falls of this nature and not just "the North" as some posters keep suggesting. North or South if we are honest most salaries are no higher than 30k at best a lot lower in most cases so I think bears who were hoping for falls of 30% will be getting more than they hoped for. I am beginning to detect a tone amongst some bears that they do not actually want prices to fall by more than 30%!! Quote Link to comment Share on other sites More sharing options...
Big_Bad_Bear Posted November 13, 2004 Share Posted November 13, 2004 Places like the SW where I live will be hard hit. Wages are very low down here yet prices have risen faster than most. It's all second homes now and if those people pull out, we'll be back where we were, some 60-70% below current prices. Quote Link to comment Share on other sites More sharing options...
volvos60 Posted November 13, 2004 Author Share Posted November 13, 2004 Seems to me there are too many dreamers here. 25 - 35 % falls are a realsitic possibility. Do you people predicting 60-80% falls actually want to be taken seriously? Can you see Golden Balls & Tony B.Liar standing by and watching that happen - surely they will slash interest rates to prevent those kind of falls - even if it meant reclaiming authority from the MPC. Think about all the lost stamp duty revenue & expenditure entering the general economy on the back of house moving - Gordon wouldn't be able to sleep. Please people, lets get real in our predictions - try not to let desire come before intellect. Quote Link to comment Share on other sites More sharing options...
RRP Posted November 13, 2004 Share Posted November 13, 2004 When to Buy/?When FEAR roams the markets, and banks are selling foreclosed properties, and Property is significantly cheaper to Buy than to Rent Is this now? no, No, NO It should take 2-3 years (at least) to get there. Do you have the will to wait for it? <{POST_SNAPBACK}> Not sure If I have the will to wait. Or put it another way, I have the cash to buy and envisage cheap property coming in at the auction rooms as early as April or May next year. When it drops below 25% I'll get serious and I am not using the usual stats vendors. I have studied local prices so I will wait and see. Quote Link to comment Share on other sites More sharing options...
zzg113 Posted November 13, 2004 Share Posted November 13, 2004 Can you see Golden Balls & Tony B.Liar standing by and watching that happen - surely they will slash interest rates to prevent those kind of falls - even if it meant reclaiming authority from the MPC. Volvo, the govt is not in charge of setting interest rates and if they tried to take back that power international capital would immediately be pulled out of the UK and the financial markets would be in chaos. The City has seen what happens when you let govts control monetary policy, and they won't stand let it happen again. Try not to let ignorance of the financial markets get in the way of your desire. Quote Link to comment Share on other sites More sharing options...
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