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Now That The Long Awaited Hpc Is Underway


OLDFTB
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As for me, well i flip between:

Open mouthed astonishment (It's all happening so damn quickly it seems) , :o

shadenfruede, (Those British Expats & BTLers, LMFAO!) :lol:

nervousness (can even i get a mortgage at the end of all this?) :unsure:

and sheer relief. :P

Depends on the time of day and what i am reading at that time.

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Well, it may be happening but it isn't yet happening where I live, in fact houses are still coming onto the market at un-realistic prices. Just on friday a house came on that I would have liked to have gone and seen had it been put on at about 80-90k less which by the way is what I thought it worth and when I checked on Mouseprice.com, I was spot on!

Having said all that, it can only be a matter of time surely.........

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As for me, well i flip between:

Open mouthed astonishment (It's all happening so damn quickly it seems) , :o

shadenfruede, (Those British Expats & BTLers, LMFAO!) :lol:

nervousness (can even i get a mortgage at the end of all this?) :unsure:

and sheer relief. :P

Depends on the time of day and what i am reading at that time.

Angry :angry: (look - angry face) this entire sorry situation could have been averted if only Mr Brown had been true to his words of "no more boom and bust", a few simple steps and prices could have been held at sensible levels, instead we have had the biggest boom possible - which cannot be maintained and the bust appears to be on its way.

The banks and the treasury have behaved terribly and have let down hundreds of thousands (either those who have been frozen out or those who have mortgaged themselves to the hilt).

Though on the other face of it, I shall enjoy reading the tales of woe from the greedy BTL a*seholes who were simply out to make as much money as possible on the back of other peoples unhappyness.

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Ask me again when we have a documented drop of 30%.

Then I will begin to feel good.

too right- there has been too much back slapping over the last few weeks- but we havent got affordable housing which i believe is the point of a HPC isnt it?

lets get affordable housing before we open the champers eh?

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Guest pioneer31

I cannot feel exhilaration, only relief, similar to if you sawed my leg off, then sewed it back on ten years later.

Relieved but still annoyed that 10 yrs of my young, healthy life have been blighted.

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I feel good about it. I am happy that I had the courage of my convictions not to buy, despite being under enormous pressure to do so at various times in the past couple of years.

We have still not reached the point where the HPC is a 'done deal' and widely recognised as such. When we reach this point (and its probably 6 months off yet), I want to reopen some of those dinner party discussions, not to say 'I told you so', but to genuinely try and understand why my views were treated in the way they were. I could have coped with the fact that my contention that house prices may fall, could be regarded as an incorrect view. What I still don't understand though, is why I was regarded as nothing short of mentally ill, for holding that view. Why could the huge majority of people not even entertain the possibility that prices could fall, despite most being aware that historically, prices had fallen before. This is what I want to understand.

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You know when you are about to pass a massive stool and you KNOW:

its going to be jolly uncomfortable

but....

you're going to enjoy it and thats not quite right. (is it)

and....

that afterwards you that will feel so much better.

.

So maybe we are not heading for the credit hangover but the credit "guiness poo".

.

ST

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Angry that the Government is doing all it can to arrest the slide.

Can't they see that they will just be prolonging the pain? That they are continuing to encourage lending that is unwise?

Apart from that relieved, but frustrated that the press in Scotland are still sticking to the ridiculous notion that is is different up here.

My parents house has 'increased' in value by about 180% in 8 years, and although that is less than some places in the UK it is still ridiculous and will fall. But still the VIs are encouraging people to buy into this madness.

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Personally I don't really care much where house prices go.... however I do worry about the wider economy, mass redundancies etc... and I do know that while the saga will undoubtedly throw out a few juicy morsels of BTL'ers going bust, city boys losing their jobs etc... that the sad fact will be that its going to be the poorest in scociety who feel the pinch of the current economic turmoil most, and next those who scramled onto the ladder borrowing too much, too late in the bubble who will now lose their all.

In all of this it's the "innocents" I am concerned for most. House prices are nothing to the effect of the wider economic maelstrom that will hit..... and I'm afraid there'll be loads of "undeserving " people hit.... imagine to put in HPC terms, FTB or STR, carfully saving a deposit/ guarding a deposit, prices go down, their hopes soar, they then lose their job, the savings go and by the time they have saved up enough for the deposit again house prices have cantered away again, leaving them either still without a house in the case of the FTB or in the same house they previously owned in the case of the STR.

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