House prices to crash

[Uncle C]

Here we go, it's show time. The proper house price crash is under way.

We have just passed the denial and bull trap phases where recent buyers have been suckered into the market by a mismatch between supply and demand.

The "return to normal" was never going to last, so get ready for the real action.

 

[BLOCK F]

House prices are way too high on a ratio of average earnings to average house price.Have been kept there by low interest rates.
I look forward to the day when potential young first time buyers can afford to be actual young first time buyers without crippling themselves with debt for the rest of their natural!

 

[Uncle Spielberg]

What is this obsession / desire in this country for house prices to crash ?. Most odd.

 

[Tim Over Whelmed]

There is no crash about to happen other than the usual scaremongering ...

 

[Billy the Fish]

I was looking for that graph on here the other day. Didn't someone post a graph of ACTUAL prices next to it last time?

 

[Deleted User X18H]

Here we go, it's show time. The proper house price crash is under way.

We have just passed the denial and bull trap phases where recent buyers have been suckered into the market by a mismatch between supply and demand.

The "return to normal" was never going to last, so get ready for the real action.

Would this help you move back to B&H then Uncle?

 

[Uncle C]

There is no crash about to happen other than the usual scaremongering ...

You sound like an Estate Agent

 

[Rambo]

What is this obsession / desire in this country for house prices to crash ?. Most odd.

Might have something to do with all these property programmes like Property ladder, Relocation Relocation, Homes under the hammer, To Buy or not to Buy.

Need I go on?

Ian a homeowner but Jesus does this property developer get rich quick culture get on your tits.

 

[Uncle C]

Would this help you move back to B&H then Uncle?

Its even more expensive up here.

 

[Blue and White Tiger]

I hope there is a crash, but is it realistically going to happen? Me and the mrs are currently renting but saving to buy.

 

[Stoo82]

What is this obsession / desire in this country for house prices to crash ?. Most odd.

Becuase they need to come down to normal prices. You know, so people can afford them.

 

[Deleted User X18H]

Its even more expensive up here.

Don't give me that. Brighton and Hove has the most ridiculous over inflated house prices in the UK. And its killing off the real Brightonian.

 

[Stoo82]

Also there has been a 'Hindenburg Omen' in the US stock market,which might mean total collapse maybe Imminent. I am in no way an expert in anything to do with mulla.

 

[Uncle C]

I was looking for that graph on here the other day. Didn't someone post a graph of ACTUAL prices next to it last time?

Its in this thread, but is a bit outdated now

http://www.northstandchat.com/showthread.php?t=146632

 

[Notters]

What is this obsession / desire in this country for house prices to crash ?. Most odd.

I wouldn't expect a Mortgage Broker to say anything so daft. The way things are, virtually no-one under the age of 30 can expect to be in the position to buy a property in their lifetimes.

 

[Barrel of Fun]

Might have something to do with all these property programmes like Property ladder, Relocation Relocation, Homes under the hammer, To Buy or not to Buy.

Need I go on?

Ian a homeowner but Jesus does this property developer get rich quick culture get on your tits.

I spent a period of about three months (prior to the first crash in '08) looking at properties around Brighton and Hove.

There were an astounding amount of properties that were 'vacant' and had been done up very cheaply to boost the price and not in consistency with the actual property style.

There was one house that had two bottles of Champagne 'chilled' in the bathroom sink. I walked out shortly after that one.

Luckily I pulled out of the market as I was minded to believe that a drop was to come.

 

[Uncle Spielberg]

I wouldn't expect a Mortgage Broker to say anything so daft. The way things are, virtually no-one under the age of 30 can expect to be in the position to buy a property in their lifetimes.

The biggest problem is the lack of mortgage availability for first time buyers. The average deposit is 25% which is £ 40000 for the first time buy. 9 out of 10, 90% mortgage applications are being declined by some lenders. They charge nearly 7% fixed for 5 years with the bank base rate at 0.5% and charge huge fees as well. This is the reason the market is going backwards. So get your facts straight before you start slagging me off. The mortgage drought has gone on for 3 years and its getting worse and this is why the market has stalled and many people as you say with never be able to buy and will rent for life.

Gross mortgage lending was £ 362 billion in 2007, it was £ 140 billion in 2009 and looks like being even less around £ 130 billion in 2010. Most experts agree £ 250 billion of new lending a year is needed for a functioning property market.

A mortgage is fast becoming a luxury for the privielged few.

 

[Uncle Spielberg]

The average age of a first time buyer is now 34 and it is getting older very quickly. The Country will soon be a Nation of Timothy's living at home with Mum and Dad into their 50's and then maybe being able to buy a small place of their own with Mum and Dad's inheritance money.

 

[The Antikythera Mechanism]

I would say that the x axis on that chart is greatly exaggerated for effect, and that we are, after 2 years of decline,in my opinion, not too far away from the mean. There will, obviously, be fluctuations in the market, reflecting supply & demand, but with the banks well on the road to recovery, these fluctuations will not be overly significant.

 

[Bozza]

What is this obsession / desire in this country for house prices to crash ?. Most odd.

Completely wrong. Allow me...

What is the obsession / desire in this country for house prices to soar? Most odd when, for literally every other product, we don't want prices to rise.