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29-11-2018, 05:20 PM
11

Re: Today's Doom & Gloom - House Prices Dropping.

A drop is far better than a crash.
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29-11-2018, 08:48 PM
12

Re: Today's Doom & Gloom - House Prices Dropping.

Originally Posted by Julie1962 ->
Well we had to weather the interest rates in the 80s ended up homeless, we struggled through and not that I want to see anyone suffer I didn't see many stepping up to help anyone back then. What needs to happen is a complete reset of the system so people can afford to get a house. If that hurts then it does I'm afraid.
This will be worse than anything in the 80s/90s. There has been an interest only time bomb brewing for years now and at some point all this debt will have to be repaid. If house prices fall drastically that's going to leave the economy in a mess with a hole of unpaid debt in the middle. The knock on effect will not be confined to individuals so you cannot isolate yourself from this any more than others.

Their policy of phasing out mortgage interest tax relief over only 3 years is a disaster. This should have been done over a far longer period, but of course governments only have a set amount of time to prove themselves.

https://uk.reuters.com/article/uk-br...-idUKKBN1FJ1C2
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29-11-2018, 09:13 PM
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Re: Today's Doom & Gloom - House Prices Dropping.

In my area house prices are steady at the moment, due to location I can't really see prices dropping either, well not in the near future. This time of year I would not expect house prices to vary much anyway as people have their mind more on the coming Christmas and not house hunting.
Load of new developements going on as well which is a good sign.
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29-11-2018, 11:24 PM
14

Re: Today's Doom & Gloom - House Prices Dropping.

Originally Posted by realspeed ->
In my area house prices are steady at the moment, due to location I can't really see prices dropping either, well not in the near future. This time of year I would not expect house prices to vary much anyway as people have their mind more on the coming Christmas and not house hunting.
Load of new developements going on as well which is a good sign.
Yes I agree with this Realspeed, the housing market really slows down at this time of year, and there are some massive house building projects proposed for round here.

I suspect it's more evidence of the doom and gloom merchants....
Why aren't the people who seem to know what is going to happen with the markets still writing on here and not millionaires already? ....
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29-11-2018, 11:31 PM
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Re: Today's Doom & Gloom - House Prices Dropping.

The smart people sold two years ago. It's very difficult to sell at the moment.
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30-11-2018, 12:01 AM
16

Re: Today's Doom & Gloom - House Prices Dropping.

Originally Posted by AnnieS ->
The smart people sold two years ago. It's very difficult to sell at the moment.
Could that be because a) the house prices are too high or b) because people can't get the deposit together ?

Which ever way, if things don't change no one will be able to sell their houses or buy, in the future, so who will be the winners and losers ?
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30-11-2018, 10:01 AM
17

Re: Today's Doom & Gloom - House Prices Dropping.

Originally Posted by Puddle Duck ->
Let them drop. The best thing that could happen in this country. House price drop, equals rent drop, equals more money in a persons pocket equals more money to spend on the high street, equals more levelling out .

The £43 million homes in London, should be only allowed to achieve a certain price too, as most are sitting there as investment properties by foreign owners who don't even live in them.

Housing market was fixed to make room for private rentals to take off the pressure of councils building more houses, and to open the door to private investors from all over Europe to plough money into the financial sectors and make the rental system into big business which it never was until 1980's.But it back fired IMO , leaving many unable to afford to buy ,the interest rates can't really get any lower, and they can't afford the private rentals . Meaning the councils have had to home thousands anyway ,under different schemes. Costing the council tax payer even more !



Ok
House price drop, equals rent drop, equals more money in a persons pocket equals more money

How the hell does that help those with a mortgage in negative equity?
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30-11-2018, 11:44 AM
18

Re: Today's Doom & Gloom - House Prices Dropping.

It doesn't.
That's just one side of a situation where half of the 25-35 yrs olds are in privately rented accommodation, but if it came down to selling and moving house those with negative equity would still be in a position to buy another, where as if the house prices and rent keep on escalating, which they have for the last 30 yrs . nobody will be able to afford anything. So big corporate companies would move in to buy the properties and as a nation we would end up with almost total rentals.
We already know what Corbyn's view and ideas are on the property market.
In most cases, rents cost more than mortgage repayments .
Going back to the 80's we paid 17% or more interest on a mortgage, so we lost out in a different way.

Historical B.O.E. Base rates:

Bank rate at year end (%)*
1979 17
1980 14
1981 14.375
1982 10
1983 9.0625
1984 9.5
1985 11.375
1986 10.875
1987 8.375
1988 12.875
1989 14.875
1990 13.875
1991 10.375
1992 6.875
1993 5.375
1994 6.125
1995 6.375
1996 5.9375
1997 7.25
1998 6.25
1999 5.5
2000 6
2001 4
2002 4
2003 3.75
2004 4.75
2005 4.5
2006 5
2007 5.5
2008 2
2009 0.5
2010 0.5
2011 0.5
2012 0.5
2013 0.5
2014 0.5
2015 0.5
2016 0.25
2017 0.5

Nobody is suggesting a 'crash' in the housing market, just price drops.
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30-11-2018, 11:46 AM
19

Re: Today's Doom & Gloom - House Prices Dropping.

Originally Posted by Tregonsee ->
Ok
House price drop, equals rent drop, equals more money in a persons pocket equals more money

How the hell does that help those with a mortgage in negative equity?
At least they have a roof over their head and if they don't move are fine. They aren't like many unable to buy or rent.
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30-11-2018, 11:56 AM
20

Re: Today's Doom & Gloom - House Prices Dropping.

Originally Posted by julie1962 ->
at least they have a roof over their head and if they don't move are fine. They aren't like many unable to buy or rent.
 
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