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To hope there is a house price crash this year

(347 Posts)
blondieblonde Sun 10-Jan-16 21:18:14

I really hope there is, so we can buy somewhere. What are the chances?

Sleepingbunnies Sun 10-Jan-16 21:18:59

God me too! I don't think it's going to happen though sad

HumTiddlyTum Sun 10-Jan-16 21:19:42

YABU to wish negative equity on people. YANBU to want your own home.

Osolea Sun 10-Jan-16 21:19:56

Unlikely, but it's not very nice to wish for something that will negatively affect people for you own gain anyway.

I understand your frustration though, house prices are bonkers.

Toria2014 Sun 10-Jan-16 21:20:31

Not going to happen. Its basic supply and demand.

MuttonDressedAsMutton Sun 10-Jan-16 21:20:34

Not a hope in hell I'm afraid. Too little housing stock and too many potential buyers not just in the UK but from all over the world. It's bad, very bad, but as long as we're in Europe we can't stop people buying here.

VodkaValiumLattePlease Sun 10-Jan-16 21:21:08

Surely if house prices crash most homeowners won't be able to afford to sell??

edwinbear Sun 10-Jan-16 21:21:33

YABU I really hope not, I'd rather not lose a lot of money on my main asset. Although I empathise with how hard it is to buy these days and worry about how dc will manage it.

Bearbehind Sun 10-Jan-16 21:22:05

I really hope house prices drop so I can buy, then I really hope they rise so I make loads of money hmm

maddening Sun 10-Jan-16 21:23:22

Being that we have only just paid ourselves out of negative equity on a house in the northwest where house prices have not been climbing as they have in London (bought just before big crash) and we want to move out as the small 2 bed cottage which was fine pre ds and is now too small and makes the idea of another dc quite tricky no I hope there is not another crash - London needs one, the rest of the uk does not.

Philoslothy Sun 10-Jan-16 21:23:53

I hope they do and I say that as somebody with a significant amount of money invested in property.

wonkylegs Sun 10-Jan-16 21:28:40

Unlikely, the government policies on housing at the moment are likely to keep prices inflated especially with the definition of 'affordable' in the new house bill. Much speculation in the industry is that it's going to be good for profits but won't do much for affordable supply.

BombadierFritz Sun 10-Jan-16 21:30:29

Woodenmouse Sun 10-Jan-16 21:53:37

I really want to be able to afford my own home, but the way things are it wont happen for a very long time but I would hate to think other people are losing a lot of money. Its a catch 22 unfortunately sad

Needaninsight Sun 10-Jan-16 21:57:12

Sounds horrible but I hope there is. I lost an enormous amount of money in the big crash of 06. Ended up having to sell and now renting. In total, had a mortgage for 15 years and back to square one with nothing to show for it.

Can't get on the housing ladder at all at the minute.

It's crashed once. I hope to god it does again. To be fair, we would have been ok if we'd have owned a house, not a flat. House prices are irrelevant if you don't need to move!

Oliversmumsarmy Sun 10-Jan-16 21:59:33

What price are you hoping for houses to crash to

WhimsicalWinnifred Sun 10-Jan-16 22:01:08

It's completely unreasonable of you. Just work a little harder for a few more hours and you will easily be able to save the almost two years worth of average uk salary needed for a deposit.

I really feel for you. We just sold out house to buy another and there was a chance due to the seller of our new house that we may have to rent. Rent is not affordable. I remember when you could get a one bed flat for £400 a month. It's 20% more now (minimum) in only four years odd.

But please, we worked so hard to get the deposit for the first and hard work doing it up and making enough to get this house that I couldn't handle negative equity.

sparechange Sun 10-Jan-16 22:05:04

It's crashed once. I hope to god it does again
So even though you've seen first-hand what happens during a crash, you are praying more people have to suffer the same thing as soon as possible? shock

Prices don't crash for shits and giggles. A crash happens because of huge problems in the wider economy. When you hope for a price crash, you hope for widespread unemployment, you hope for rising interest rates that put lots of people into problems with debt, you hope for repossessions that leave families homeless. You hope for negative equity that traps people in unhappy relationships they can't afford to leave.

So yes, YABVVU to hope for a price crash. Wishing misery on thousands so you can get yourself a bargain on a house is vile

TrinityForce Sun 10-Jan-16 22:07:18

No. They don't wish hardship or suffering on other people. They just want the house, their own house, like these other people already have.

It's not wrong to want to own your own home.

WhimsicalWinnifred Sun 10-Jan-16 22:08:24

It's not really the house prices tho is it? I think it's more the lack of lending and the need for a substantial deposit.

WineOrSleep Sun 10-Jan-16 22:08:32

Thank you for wishing negative equity upon people angry

Yes house prices are high. But such a sweeping statement is cruel and unjust to those of us who do own, and who would see everything crumble around us should there be a crash

How heartless

throwingpebbles Sun 10-Jan-16 22:11:23

Yabu and you know you are, but I also sympathise with your frustrations.
However, I don't think you can count on a crash, for all the reasons listed.

A part of my job is to do with enabling more (genuinely) affordable housing to be built and it really motivates me. It is staggering how high house prices are relative to salaries.

ComposHatComesBack Sun 10-Jan-16 22:11:29

Unless you are a cash buyer or have a whacking great deposit, a crash will do you few favours. Don't you remember what happened to the banks willingness to lend during the last downturn?

sparechange Sun 10-Jan-16 22:16:19

Op isn't wishing to be able to buy a house, or even for a flurry of building of affordable homes. They are specifically hoping for a crash, with all the problems and issues that entails.

Oliversmumsarmy Sun 10-Jan-16 22:17:42

House prices have crashed more than once.

Given the latest crash was only a few years ago why didn't you buy then

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