House price crash

[Neron]

Seeing a lot of comments about this, some delight in that property could be bought cheaper in a few months.
Surely those houses will only be available because the owners have lost their jobs/repossessions etc? Why would we delight in that? I could be wrong, but those who don't have to move probably won't as no one would sell for a loss unless forced

So what are their options?

In the US house market crash, families were reduced to living in their cars.

This became a phenomenon in Auckland NZ also, working poor families living in cars, due to a property bubble and extremely expensive rents.

Working poor families living in cars, garages, sheds isnt as uncommon as you'd think, even in England.

A house isn't going to disappear just because the mortgagor can't make the payments - perhaps the bank will rent it back to the previous owner

They don't rent the houses out, it's too much expensive admin and legal liability. The houses sit vacant until they can be sold with vacant possession in mortgagee sales, priced not even to break even but simply to minimise bank losses on the balance sheet.

These are the kinds of people who will benefit - I give you Fergus And Judith Wilson. Enough said.

But you can't hold the people who benefit from some sort of market disruption responsible for it or morally culpable! The disruption will happen whether they benefit from it or someone else does. They won't be the cause of it. In fact their willingness (and that of others) to buy at whatever price they buy at is what will provide support for prices at a certain level and stop them falling further.

But you can't hold the people who benefit from some sort of market disruption responsible for it or morally culpable!

Not on Mumsnet - here, anyone who doesn't pay the inflated asking price of an utterly ordinary house is a vulture who takes great delight in profiting from someone else's misery.

I'm saving for a house, if the house prices reduce or even stay static I actually stand a chance of buying one. I'd be lying if I said I hoped that they didn't come down in price. Is there anything wrong with that?