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gasket37

They Talked It All Up...

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I was going to post this in the "House Prices in your area" thread but deserved a wider audience IMHO.

I rarely wade though the local property rag - it is 136 pages long this week and lord know big it is going to grow to this year!

still this little article on the inside page caught my eye and made me smile. nothing that a hardened HPC'er is aware of, of course, but it might plant the seed of doubt in the mind of the average punter...

enjoy!

Staff are trained to show buyers costs of moving - agent

Agent Harrison Murray says it trains its staff to show buyers - who are often sellers too - how to assess the costs of moving.

"This really useful service is helping our market to get a spring in its step as longer days and warmer weather make everyone feel so much more upbeat after the gloomy winter," says its commercial director, Nick Salmon.

"If prices remain static then a seller who gets £150,000 for their property and buys at £200,000 will have to fund a difference of £50,000. However, if overall prices fall by 10 per cent there is a saving to be made. Their property now sells for £135,000 and the one they buy comes down to £180,000. The difference is £45,000 so they are £5,000 better off."

"Doing these sorts of sums is really important if you are thinking about moving as they have a huge impact on affordability."

"After more than a decade of rocketing housing prices many commentators are predicting

that 2008 will see zero growth. The effects of tighter credit are biting hard and sellers, buyers, and estate agents have to adjust to the new order."

"Sellers must come to terms with pricing their properties competitively and making further reductions if necessary. Buyers need to be sure of their finances before they offer and estate agents have to work harder"

"The market is challenging but it's also a market of opportunity and canny buyers can do well out of it"

"Lets just suppose that house prices actually fall during the year by 10 per cent. Is that

a disaster? I think not. First time buyers would find property more affordable, buy to let

investors would be tempted to increase their portfolios, and most significantly, those moving

upmarket would spend relatively less money."

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so ,what they are saying is that if my house goes up in value , so will all the others and if it falls then other propery gets cheaper as well ??????????

Thank God for people like Harrison Murray ! Without him we were all being fooled into thinking we had all made a huge profit :lol::lol::lol::lol:

Thanks Gasket37 , excellent find !!

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Ladies and gentlemen, they have finally realised the truth about the mythical "property ladder".

Rising house prices are bad news for almost all homeowners.

When prices are going up, even if your sell your house for more than you paid for it, the one on the next rung up the ladder is less affordable.

Touche.

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Link???

sorry - no link available AFAIK

it was in the thursday property supplement in my local rag (northampton) and i laboriously typed it in!

sheesh - the things i do for you guys! :lol:

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sorry - no link available AFAIK

it was in the thursday property supplement in my local rag (northampton) and i laboriously typed it in!

sheesh - the things i do for you guys! :lol:

Thanks Gaskett. It is significant as it is a well written easy to understand article explaining how ever soaring house prices are detrimental, or at least that there are benefits in a cra sorry stagnant market

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Rising house prices are bad news for almost all homeowners.

Bad news for first-time buyers.

Bad news for people wanting to move up ladder as price differences also increase.

Good news for mortgage holders as their equity increases.

Good news for property investors or people selling a 'spare' property.

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Well, someone over at the stinking pig has something to worry about, have you seen this???? I am rapidly starting to think that this chap is the one-and only Bruno, because he needs his head feeling! Dont know where he gets the idea that prices are still going up!!! :lol::lol:

http://www.singingpig.co.uk/forums/thread/453190.aspx

Great article.

Problem is, that everyone right now thinks that they can get a good deal when they buy but will be able to hang on for the full price.

This "benefit" only works when both sides play ball.

That EA on SP is great. What a nice avatar as well. :lol:

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Conifer the price of houses always goes down as well as up. People will lose their equity and lose it fast. The bottom will be a long time coming this round, mainly because the whole financial system is coming to the point where a hard reboot will be the only cure. Products that caused the boom are gone and will not again be seen in my lifetime (unless we forget (which knowing bankers is likely)), and without these means of payment then the market will collapse. These increased lending multiples directly lead to the correlated increase in HPI. As the swing went up the parabola down will be far harsher.

Yeah the SP idiots, who cares I think they should be adding at least 10 each to their portfololio's right now.

Edited by symo

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Well, someone over at the stinking pig has something to worry about, have you seen this???? I am rapidly starting to think that this chap is the one-and only Bruno, because he needs his head feeling! Dont know where he gets the idea that prices are still going up!!! :lol::lol:

http://www.singingpig.co.uk/forums/thread/453190.aspx

Have you seen the Guy's photo ?. Not even an Estate Agent could look that smug and punchable.

Got to be a wind up IMO. At least to God I hope it is

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  • 295 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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