adrian101 Posted December 4, 2006 Share Posted December 4, 2006 I have been predicting a crash for a long time so what do I know but I hear the same things being said as in dot com (I was in M and A during the dot com boom ) Maidenhead prices and surrounding areas are still strong even though Maidenhead is a completely non-descript place, and the prices are insane, new build 2 bed flats priced at 300k WTF??? however I was on home.co.uk and looked at the volumes of house sales for SL6 Aug 2000 223 Aug 2001 231 Aug 2002 284 Aug 2003 218 Aug 2004 212 Aug 2005 175 July 2006 159 are we finally starting to run out of people prepared to pay extornate prices? Quote Link to comment Share on other sites More sharing options...
backtoparents Posted December 4, 2006 Share Posted December 4, 2006 (edited) I have been predicting a crash for a long time so what do I know but I hear the same things being said as in dot com (I was in M and A during the dot com boom )Maidenhead prices and surrounding areas are still strong even though Maidenhead is a completely non-descript place, and the prices are insane, new build 2 bed flats priced at 300k WTF??? however I was on home.co.uk and looked at the volumes of house sales for SL6 Aug 2000 223 Aug 2001 231 Aug 2002 284 Aug 2003 218 Aug 2004 212 Aug 2005 175 July 2006 159 are we finally starting to run out of people prepared to pay extornate prices? Yes, any figures for the total revenue in an area would be very revealing, wouldn't they? Are these produced anywhere? EDIT: Maybe I should try home.co.uk .... btp Edited December 4, 2006 by backtoparents Quote Link to comment Share on other sites More sharing options...
bazzzzzzz Posted December 4, 2006 Share Posted December 4, 2006 Maidenhead prices Which Maidenhed? http://www.proviser.com/page/property_pric...AREA=maidenhead Quote Link to comment Share on other sites More sharing options...
Shamus Posted December 5, 2006 Share Posted December 5, 2006 I have been predicting a crash for a long time so what do I know but I hear the same things being said as in dot com (I was in M and A during the dot com boom ) Maidenhead prices and surrounding areas are still strong even though Maidenhead is a completely non-descript place, and the prices are insane, new build 2 bed flats priced at 300k WTF??? however I was on home.co.uk and looked at the volumes of house sales for SL6 Aug 2000 223 Aug 2001 231 Aug 2002 284 Aug 2003 218 Aug 2004 212 Aug 2005 175 July 2006 159 are we finally starting to run out of people prepared to pay extornate prices? No there are still plenty of people WANTING to buy property. Just fewer bothering to put their homes on the market as they cannot get the funds or justify moving up the ladder. Therefore there are shortages of property for sale for desperate FTBers and speculators which in turn drives up prices. Quote Link to comment Share on other sites More sharing options...
Converted Lurker Posted December 5, 2006 Share Posted December 5, 2006 I have been predicting a crash for a long time so what do I know but I hear the same things being said as in dot com (I was in M and A during the dot com boom ) Maidenhead prices and surrounding areas are still strong even though Maidenhead is a completely non-descript place, and the prices are insane, new build 2 bed flats priced at 300k WTF??? however I was on home.co.uk and looked at the volumes of house sales for SL6 Aug 2000 223 Aug 2001 231 Aug 2002 284 Aug 2003 218 Aug 2004 212 Aug 2005 175 July 2006 159 are we finally starting to run out of people prepared to pay extornate prices? I think there's an inherent danger of selecting one area (particularly a post code) and using the stats as an indicator. Overall land reg figures reveal volumes are up on this time last year nationally... Quote Link to comment Share on other sites More sharing options...
misfit Posted December 5, 2006 Share Posted December 5, 2006 I have been predicting a crash for a long time so what do I know but I hear the same things being said as in dot com (I was in M and A during the dot com boom ) Maidenhead prices and surrounding areas are still strong even though Maidenhead is a completely non-descript place, and the prices are insane, new build 2 bed flats priced at 300k WTF??? however I was on home.co.uk and looked at the volumes of house sales for SL6 Aug 2000 223 Aug 2001 231 Aug 2002 284 Aug 2003 218 Aug 2004 212 Aug 2005 175 July 2006 159 are we finally starting to run out of people prepared to pay extornate prices? I was about to put an offer on a flat in Maidenhead last year but one of my friends who lives there showed me the last few months local papers and basically full of rape and teenage gangs beating people up. I decided Maidenhead was not for me despite the falling prices. When I lived in Manchester I lived amongst gun toting drug dealers and had no problems but when I moved to an area with a high number of teenage delinquents it was a different story. I thought I was too old for brawling with the locals then but I am definitely too old for this type of behaviour now. For this reason I would never live in an area with this type of problem again. The main reason is due to its close proximity to Slough. I am sure it is a passing phase in Maidenhead but I still require dental treatment on a regular basis from my years in North Manchester. This is what can happen when you don't walk away! Quote Link to comment Share on other sites More sharing options...
HovelinHove Posted December 5, 2006 Share Posted December 5, 2006 No there are still plenty of people WANTING to buy property. Just fewer bothering to put their homes on the market as they cannot get the funds or justify moving up the ladder. Therefore there are shortages of property for sale for desperate FTBers and speculators which in turn drives up prices. Your post sums up why a crash is in the wings. Everyone WANTS something better, but less and less people are able to afford it, it's not that people aren't bothering to sell, they can't afford the next rung and the bottom of the heap is being sustained by FTBers getting crazy multiples from desperate lenders, and yes, speculators. The moment sentiment turns the lenders will stop lending, the speculators will stop buying, supply will exceed demand (see the US) and sellers who have to sell will become desperate. Volumes will fall further, but there will be less buyers as no one will buy into a falling market. That is the battle the VIs have been fighting for the past three years, but very soon words and low IRs will no longer be enough, and the terrifying reality of the monster they have created will be obvious to even the most stupid buy to let muppet and the whole thing will crash on top of us. Quote Link to comment Share on other sites More sharing options...
Guest Yeahbutnocrash Posted December 5, 2006 Share Posted December 5, 2006 (edited) No there are still plenty of people WANTING to buy property. Just fewer bothering to put their homes on the market as they cannot get the funds or justify moving up the ladder. Therefore there are shortages of property for sale for desperate FTBers and speculators which in turn drives up prices.So in order for there to be a crash we need supply to outstrip demand but what would cause such an influx of propery onto the market and the sentiment of buyers to change significantly? A few more repossesions seem to have no effect in causing prices to fall The fact these properties get sold helps soak up demand in the main market I think we are back to the argument that IR's would need to go up significantly to force enough people to have to sell whilst also deterring buyers Otherwise prices may just continue to rise Edited December 5, 2006 by Yeahbutnocrash Quote Link to comment Share on other sites More sharing options...
Orbital Posted December 5, 2006 Share Posted December 5, 2006 (edited) last few months local papers and basically full of rape and teenage gangs beating people up Another victim of the media. I always find the link between crime and perception of crime fascinating, My local paper is full of horror too, but actually ive never seen anything remotely worrying. Its easy to understand though, when the only message we have being drilled into us day and night is that kids=bad its no wonder its all we believe. Just watch a few episodes of crimewatch and you'll probably never want to go out again. All areas have their good and bad sides. Edited December 5, 2006 by Orbital Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted December 5, 2006 Share Posted December 5, 2006 So in order for there to be a crash we need supply to outstrip demand but what would cause such an influx of propery onto the market and the sentiment of buyers to change significantly? A few more repossesions seem to have no effect in causing prices to fall The fact these properties get sold helps soak up demand in the main market I think we are back to the argument that IR's would need to go up significantly to force enough people to have to sell whilst also deterring buyers Otherwise prices may just continue to rise They may well continue to rise on thin trading in 2007.Just hope that people aren't counting on the current valuations as an asset.It is the nature of a pyramid that very few will ever realise their gains before the whole thing implodes. Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted December 5, 2006 Share Posted December 5, 2006 Seeing the same in my area, volumes back to 2001 levels. 2003-2004 definitely seems to be peak volume time. Quote Link to comment Share on other sites More sharing options...
Guest Yeahbutnocrash Posted December 5, 2006 Share Posted December 5, 2006 They may well continue to rise on thin trading in 2007.Just hope that people aren't counting on the current valuations as an asset.It is the nature of a pyramid that very few will ever realise their gains before the whole thing implodes.Yeah - I take your point about it being the nature of a pyramidSimple example: If one house in a street goes up for sale they can ask top whack If half the street went up for sale the asking prices may have to be adjusted down a bit! Quote Link to comment Share on other sites More sharing options...
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