How far will house prices fall? [Volume 2]
Discussion
garyhun said:
As well as f
king others around!
Hey i feel bad about it. I had to go out for a five minute walk to get over making the phone call. Looking at it another way, at least i'm saving them from the millstone of a mortgage in these uncertain times.![](/inc/images/censored.gif)
(Just checking that her bubby doesn't have a SLK 350. Nope. Phew.)
john_p said:
That online auction thing is interesting, 2 bed new build in Bournemouth, was last sold £172k in 2005, just went at auction for £119k !
No idea on other factors affecting the price, but that's a big drop. I won't tell my friend who's just bought a flat in Bournemouth..
Where abouts is that? There have been a fair few apartment developments around here (Poole/B'Mouth) that the EA's over inflated and because many buyers are from outside area seem to accept the valuations. Especially second homes with no mortgages needed. No idea on other factors affecting the price, but that's a big drop. I won't tell my friend who's just bought a flat in Bournemouth..
This one:
http://www.eigroup.co.uk/auctioneers/templates/lot...
http://www.eigroup.co.uk/auctioneers/templates/lot...
Edited by john_p on Wednesday 16th April 15:11
The Government is trying to ride in over the horizon, cavalry-style, by accepting mortgage-based assets in return for Government bonds.
This is, apparently, a "temporary measure", which presumably means just until the next election...
http://news.bbc.co.uk/1/hi/business/7351073.stm
This is, apparently, a "temporary measure", which presumably means just until the next election...
http://news.bbc.co.uk/1/hi/business/7351073.stm
skwdenyer said:
The Government is trying to ride in over the horizon, cavalry-style, by accepting mortgage-based assets in return for Government bonds.
This is, apparently, a "temporary measure", which presumably means just until the next election...
http://news.bbc.co.uk/1/hi/business/7351073.stm
I think it is a great idea. Look at how much of a success Northern Rock was.This is, apparently, a "temporary measure", which presumably means just until the next election...
http://news.bbc.co.uk/1/hi/business/7351073.stm
"One safeguard will come from exchanging the mortgage-backed assets at less than their market value."
50% of value, maybe. 90%, not really.
Morons.
skwdenyer said:
The Government is trying to ride in over the horizon, cavalry-style, by accepting mortgage-based assets in return for Government bonds.
This is, apparently, a "temporary measure", which presumably means just until the next election...
http://news.bbc.co.uk/1/hi/business/7351073.stm
They haven't got a clue right now and are simply following in the footsteps of the US fed, the fed only take Gse's and no re-packaged mortgage clag as collateral....the only real way out of this in a hurry is for central banks to find someway of guaranteeing the repackaged mortgage backs...the obvious problem is they do not behave like sovereigns and their value could be very much lower at some point in the future.This is, apparently, a "temporary measure", which presumably means just until the next election...
http://news.bbc.co.uk/1/hi/business/7351073.stm
The US came in to assist in the S&L crisis and they ended up mking a fortune...so if central banks do come in to accept the dross, you can be pretty sure they are close to a low/fair value...not just yet then
![wink](/inc/images/wink.gif)
Where did the money from the sale of council houses go, I seem to have some vague memory(from the early 80's) of the councils not being allowed to spend this money and it was kept off balance sheet. I have tried googling for info, not quite drawn a blank, perhaps someone with more time on their hands would assist or know if this is a true memory.
Could this happen with that fund or has Buster Brown spent the lot.
Those that cannot afford them, council buys them back at the same discounted rate of market value that they where sold at, then rents them back. Those newbuild apartment blocks/estates could go the same way. Social housing at an affordable cost to the tax payer and Labour voters get to stay in their home.
£120k ceiling as that is the duty threshold.
Could this happen with that fund or has Buster Brown spent the lot.
Those that cannot afford them, council buys them back at the same discounted rate of market value that they where sold at, then rents them back. Those newbuild apartment blocks/estates could go the same way. Social housing at an affordable cost to the tax payer and Labour voters get to stay in their home.
£120k ceiling as that is the duty threshold.
ChrisO said:
spikeyhead said:
ChrisO said:
I really don't understand financial mechanics (should have listened more in economics...), just want to know whether my house will be worth s*d all in the next few years.
It really doesn't matter to you. You've got a home with a mortgage that is very affordable to you.Its possible that the price of your house may fall by 40% in the next few years but you'll still have your home. Should you wish to buy a larger home that should be even cheaper.
The only time its going to make a difference is if you decide to sell it now, stay with your parents or in a tent for three years and then buy it back, but lets face it, you're not going to do it. It would probably make financial sense for me to do it but I like my home so I'm staying put in it.
I'll stay where I am, plan is to bank as much as I can, then let mine out in a few years and buy something bigger.
Why is it that so many people feel they need a big house? A mate of mine lives on his own, and has just mortgaged himself to the hilt for a new-build, 4-bed house!?!?!
I buy my own properties on their size, i dont want to live in a tiny flat/house whatever. Thats my choice, you have yours.
MitchT said:
30-70%, depending where in the country you are and what type of property it is.
Christ on a bike.Think about the consquences of what you type.
I would buy everything i possibly could if they dropped 70%. I'd be buying entire roads, and towns even.. maybe a slight enhancement of the truth but close.
But our entire financial system would collapse.
Hamptons claiming London is 15% off last summer's (frothy) peak
http://www.londonstockexchange.com/en-gb/pricesnew...
BTL mortgages apparently under threat
http://www.telegraph.co.uk/money/main.jhtml?xml=/m...
http://www.londonstockexchange.com/en-gb/pricesnew...
BTL mortgages apparently under threat
http://www.telegraph.co.uk/money/main.jhtml?xml=/m...
Am I the only person who hasn't actually noticed a price drop.
I had my house valued recently by 5 different estate agents. They valued from 180 to 240k.
Now this isn't a small margin here. But if people keep choosing the estate agents that value the house at the most well if will look like places are worth a lot more. and if they get offers below people take them as well. The estate agents values are in cloud cukoo land.
I had my house valued recently by 5 different estate agents. They valued from 180 to 240k.
Now this isn't a small margin here. But if people keep choosing the estate agents that value the house at the most well if will look like places are worth a lot more. and if they get offers below people take them as well. The estate agents values are in cloud cukoo land.
elster said:
Am I the only person who hasn't actually noticed a price drop.
I had my house valued recently by 5 different estate agents. They valued from 180 to 240k.
Now this isn't a small margin here. But if people keep choosing the estate agents that value the house at the most well if will look like places are worth a lot more. and if they get offers below people take them as well. The estate agents values are in cloud cukoo land.
Not in cloud cukoo land, but simply a cynical way to get your business. I have a client selling two flats through Foxtons and he has had to knock £100k of the initial asking price already(for both), and he still hasn't got an offer.I had my house valued recently by 5 different estate agents. They valued from 180 to 240k.
Now this isn't a small margin here. But if people keep choosing the estate agents that value the house at the most well if will look like places are worth a lot more. and if they get offers below people take them as well. The estate agents values are in cloud cukoo land.
Often the EA knows the initial value is too high and that the asking price will be knocked down in a few months when there isn't any interest.
Timmy33 said:
Talk about leveraging yourself up the arse!!!!article said:
Legal Action
Lee and 85 other investors plan to sue the developers, lenders, appraisers and solicitors involved in their property transactions. Lee's attorney, Hammad Ahmad of Max Gold Partnership in Hull, England, said the lawsuit will probably be filed in about two months.
Regulators and the government are beginning to review the practices and excesses of the U.K.'s housing boom. The FSA said in its 2008 report on financial risks that ``organized property fraud is most common in new-build and purpose-built flats in major towns and cities, and where renting is the main form of tenure.''
Somebody sold me some magic beans but there's no sign of the beanstalk or the castle in the clouds - where's my lawyer? Lee and 85 other investors plan to sue the developers, lenders, appraisers and solicitors involved in their property transactions. Lee's attorney, Hammad Ahmad of Max Gold Partnership in Hull, England, said the lawsuit will probably be filed in about two months.
Regulators and the government are beginning to review the practices and excesses of the U.K.'s housing boom. The FSA said in its 2008 report on financial risks that ``organized property fraud is most common in new-build and purpose-built flats in major towns and cities, and where renting is the main form of tenure.''
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