Waiting Patiently Posted January 5, 2008 Share Posted January 5, 2008 (edited) Merged posts: Might be worth a look: Britain's Biggest House Price Falls: Tonight ITV 1 Wednesday 9th January 10:00pm to 10:30pm Investigation into the current downturn in Britain's housing market, revealing the areas of the country worst affected and asking not just who stands to lose out, but who stands to benefit from the slump ITV.com From S Whitely For those of you yet to see the item (or who want to watch it over and over and over again), you can download it from the HPC server: Download now (24 mins 1 sec, DivX, 77.9MB) Edited January 13, 2008 by Financial Planner Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 5, 2008 Share Posted January 5, 2008 (edited) They may have the usual panel of "experts"* trying to defuse the full horror of the crash by saying prices have "crashed" by as much as 0.1% and could stagnate going into the first half of 2008 before regaining upward momentum in the second half. The experts* will NEVER admit to a crash. IIRC they didn't acknowledge the prices drops in Great Crash 1. _________________ *Experts: Estate Agents, Mortgage Brokers, Bankers and NuLabour politicians all moderated by a HPI friendly goon. Edited January 5, 2008 by Realistbear Quote Link to comment Share on other sites More sharing options...
Waiting Patiently Posted January 5, 2008 Author Share Posted January 5, 2008 RB, you're probably right, there is still a determined attempt to deny what is happening and what is ahead. But I remember several similiar programmes back in the early nineties full of horror stories about negative equity, repossessions, and house prices halving in 2 years alongside estate agents claiming, laughably, that everything was just about to pick up again. Sentiment changed profoundly. By 1994, if you said you were thinking of buying a house, most people thought you were mad Quote Link to comment Share on other sites More sharing options...
Wad Posted January 5, 2008 Share Posted January 5, 2008 By 1994, if you said you were thinking of buying a house, most people thought you were mad They will again in 2010. Quote Link to comment Share on other sites More sharing options...
DC10 Posted January 5, 2008 Share Posted January 5, 2008 By 1994, if you said you were thinking of buying a house, most people thought you were mad When people start saying this again you will know that is the time to buy. Quote Link to comment Share on other sites More sharing options...
meow Posted January 5, 2008 Share Posted January 5, 2008 Just a thought here... What would the lead time on such a programme be? Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted January 5, 2008 Share Posted January 5, 2008 RB, you're probably right, there is still a determined attempt to deny what is happening and what is ahead. But I remember several similiar programmes back in the early nineties full of horror stories about negative equity, repossessions, and house prices halving in 2 years alongside estate agents claiming, laughably, that everything was just about to pick up again. Sentiment changed profoundly. By 1994, if you said you were thinking of buying a house, most people thought you were mad Don't think 1994 was the time to buy,it certainly didn't really get going until 1997-1999.The three to five years after 94 were marked by stagnation.I was laughed at for buying a house for 77K in 1996,property then was still thought of as something that only goes down after seven years of inflation -adjusted falls.I eventually got out via a px deal involving my property at 300K and then had to off-load the px.This was 2006 and was about two years past the peak for Derbyshire.I bought a little early and sold a little late. Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted January 5, 2008 Share Posted January 5, 2008 When people start saying this again you will know that is the time to buy. So 'they' say, but i'm not sure it will be the same in this mother of all booms (and presumably busts), as we are into unchartered territory in terms of size and consequence. Quote Link to comment Share on other sites More sharing options...
DC10 Posted January 5, 2008 Share Posted January 5, 2008 Don't think 1994 was the time to buy,it certainly didn't really get going until 1997-1999.The three to five years after 94 were marked by stagnation.I was laughed at for buying a house for 77K in 1996,property then was still thought of as something that only goes down after seven years of inflation -adjusted falls.I eventually got out via a px deal involving my property at 300K and then had to off-load the px.This was 2006 and was about two years past the peak for Derbyshire.I bought a little early and sold a little late. Buying at the start of a period of stagnating prices would not bother me as much as jumping in too late. Its knowing when we've hit the bottom. Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted January 5, 2008 Share Posted January 5, 2008 Just a thought here...What would the lead time on such a programme be? Interesting question. I reckon a small independent company could produce such a programme in under a month. I once got involved in a small scale documentary that was commissioned for English Language teaching concerning the incorrect use of the apostrophe. Long story but someone had picked up on a court case I was involved in that in part rested on the incorrect use of an apostrophe and telephoned me to see whether I would be interested in appearing on this programme. I agreed, spent one day in London filming and the whole episode was completed within a day and edited within a week. Quote Link to comment Share on other sites More sharing options...
meow Posted January 5, 2008 Share Posted January 5, 2008 Interesting question. I reckon a small independent company could produce such a programme in under a month. I once got involved in a small scale documentary that was commissioned for English Language teaching concerning the incorrect use of the apostrophe. Long story but someone had picked up on a court case I was involved in that in part rested on the incorrect use of an apostrophe and telephoned me to see whether I would be interested in appearing on this programme. I agreed, spent one day in London filming and the whole episode was completed within a day and edited within a week. "thats" quick Quote Link to comment Share on other sites More sharing options...
Methinkshe Posted January 5, 2008 Share Posted January 5, 2008 "thats" quick Yeah! The bugger was, we lost the case at the Appeal Court. Still, we have the dubious distinction of having made case law - all to do with shorthold tenancies. I am not a landlord's favourite person after that little episode! But it was quite an experience going to the Court of Appeal in London - even if we did lose the case! Lost at Magistrates, won at County Court, lost at Appeal court. Interesting little exercise..... Quote Link to comment Share on other sites More sharing options...
Guest pioneer31 Posted January 5, 2008 Share Posted January 5, 2008 They may have the usual panel of "experts"* trying to defuse the full horror of the crash by saying prices have "crashed" by as much as 0.1% and could stagnate going into the first half of 2008 before regaining upward momentum in the second half. Will somebody please tell me what the is official reason given for this? Quote Link to comment Share on other sites More sharing options...
adren Posted January 5, 2008 Share Posted January 5, 2008 Might be worth a look:ITV.com Whay hayyyy. We'll have the Kleenex out for that one! Quote Link to comment Share on other sites More sharing options...
Waiting Patiently Posted January 5, 2008 Author Share Posted January 5, 2008 There's more. Cue the weeping, wailing, and gnashing of teeth as the sob stories get rolled out: New Year Debt Busters: Friday 11th January on ITV 1 from 8:00pm to 8:30pm Tonight ITV 1 As the cost of Christmas adds to Britain's debt mountain, which is increasing by £15million every hour, Jonathan Maitland looks at what can be done to control the nation's credit culture and cure the financial hangover Quote Link to comment Share on other sites More sharing options...
Realistbear Posted January 5, 2008 Share Posted January 5, 2008 Will somebody please tell me what the is official reason given for this? Why do the experts say prices will resume upwards later this year (after the 0.1% "crash")? They say the demand side of the equation will ensure everlasting HPI. They conveniently forget the supply side which tends to increase as prices rise and buyers are forced out of the market and as foreclosures multiply lowering prices accross the board. VIs can never come to grips with the cyclical nature of a free market. Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted January 5, 2008 Share Posted January 5, 2008 (edited) "Britain's Biggest House Price Falls: Tonight ITV 1 Investigation into the current downturn in Britain's housing market, revealing the areas of the country worst affected and asking not just who stands to lose out, but who stands to benefit from the slump" I can tell RB et al that it will be full on HPC friendly. 100% fact. Guaranteed... Edited January 5, 2008 by Financial Planner Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted January 5, 2008 Share Posted January 5, 2008 Just a thought here...What would the lead time on such a programme be? 3 weeks Quote Link to comment Share on other sites More sharing options...
Killer Bunny Posted January 5, 2008 Share Posted January 5, 2008 Interesting question. I reckon a small independent company could produce such a programme in under a month. Except that this is ITN. Quote Link to comment Share on other sites More sharing options...
jez123 Posted January 5, 2008 Share Posted January 5, 2008 Is this before or after "bad location bad location bad location"? Quote Link to comment Share on other sites More sharing options...
Daft Boy Posted January 5, 2008 Share Posted January 5, 2008 Don't think 1994 was the time to buy,it certainly didn't really get going until 1997-1999.The three to five years after 94 were marked by stagnation. 1994 was the optimum time for house purchase during the last correction. Bargain basement prices combined with a vast choice. Although prices dropped a bit further up until 1996 most of the best properties had been snapped up by then. Quote Link to comment Share on other sites More sharing options...
Jason74 Posted January 6, 2008 Share Posted January 6, 2008 So 'they' say, but i'm not sure it will be the same in this mother of all booms (and presumably busts), as we are into unchartered territory in terms of size and consequence. I think it will almost certainly hold true again as before. The extreme bulls are perhaps just finding out that it's not "different this time", because it never is. Likewise, it's not "different this time" on the downside (imho). Prices will probably fall, eventually they will hit a bottom, and after bumping along at that bottom for a while people will be thinking that property is only ever a bad move. At that point, it will be time to buy imho. The downside will be no more "different this time" than the up. Quote Link to comment Share on other sites More sharing options...
Mr Yogi Posted January 6, 2008 Share Posted January 6, 2008 When people start saying this again you will know that is the time to buy. Never a truer word... I bought a four bedroomed house off my landlady in 1994 for the value of her outstanding mortgage - £62k. She had bought the house for over £100k in 1989. People thought I was mad! It was worth c£95k by 1998 when I seperated from wife. I sold in 2003 for £190k due to divorce. House sold again last year for £350k People thought I was mad! Quote Link to comment Share on other sites More sharing options...
Son of Taeper Posted January 6, 2008 Share Posted January 6, 2008 Interesting question. I reckon a small independent company could produce such a programme in under a month. I once got involved in a small scale documentary that was commissioned for English Language teaching concerning the incorrect use of the apostrophe. Long story but someone had picked up on a court case I was involved in that in part rested on the incorrect use of an apostrophe and telephoned me to see whether I would be interested in appearing on this programme. I agreed, spent one day in London filming and the whole episode was completed within a day and edited within a week. Depends on the production but I have worked on things from Tellietubbies to News 24 and time is always of the essence with a big story. I can edit a 5 minute story in less than a day on my own... audio and video. Quote Link to comment Share on other sites More sharing options...
dubsie Posted January 6, 2008 Share Posted January 6, 2008 My mother has just managed to sell her house and is now looking to downsize. She has put an offer on a house similar to my house in the same area but has much bigger garden and is in better condition, I paid £115,000 for my house 4 years ago and she has just had an offer of 107,000 accepted. I've spent in the region of 10,000 on my house and owe in the region of 80,000 on the loan. It's unlikely that I'll fall into negative equity but I've certainly lost a lot of money already. House prices are falling now and the rates they are falling by is increasing. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.