Housing price crash

[Eucalyptusbee]

It's happening!

AIBU to be excited

Because the housing market is interesting at the moment?

@TwinklingFairyLights

i don’t think there is much more to be said about it than has been said repeatedly on this thread!

I think everyone has given up on the OP… obvious she’s a goady liar.
It has still sparked an interesting discussion, however.

There's a lot to be said about the housing market.

@Bedsheets4knickers

Because lots of people have no choice but to sell their home through no fault of their own now despite us being in a housing boom. So no one should buy those houses? Plus we are talking about drops not millions of repossessions.

You are worried about your situation & yours alone. Which is understandable but you can't then claim the moral high ground. Will you have a problem with making lots of equity if you do manage to buy before rates shoot up? Even though that will make it harder for those who aren't yet in your position through no fault of their own? Will you leave any inheritance to your dc even though that perpetuates the inequality for those whose parents don't own?

OP is pretending she can't see the posts asking about her other threads.

Maybe she's blinded by all the excitement.

I know that I wouldn't want our only way to get onto the housing market because of someone's misfortune.
We nearly lost our family home twice During the early 90s due to recession and high interest rates . The field my dad worked in was very hard hit and he really had to work to keep a roof over our heads . So no I would not want to buy something that someone didn't want to sell .
I don't think that's nonsense and I'm quite proud of my morals .

It won't happen and wanting peoples lives to crumble so other people can afford something is very shitty

Anyone wanting to upsize benefits, the percentage drop means even if your current property is worth less, you take on less debt.

There's less stamp duty to pay.

It's far easier to pay off less capital borrowing at higher interest rates, than huge capital at low rates.

Frankly I want people to have the same opportunity to buy a secure home, like I did in my 20s, (1990s). At 8% interest rates, it wasn't a struggle as people like to make out. It involved very little saving or sacrifice and we were able to buy homes, settle, have kids and get on with our lives. Some people traded places and were repossessed due to over stretching themselves and went into rentals until they could afford to buy again. Overall, why wouldnt affordable housing be a good thing for the majority of society?

I own a house but Im happy to see the value drop.

But even with a crash in prices it won't help FTB who can't get on the ladder unless they already have a huge deposit.

A 400k house losing 25% is still 300k, and the banks will seriously tighten lending so good luck finding an 85/90/95% LTV mortgage, and getting accepted on affordability criteria. Not to mention the interest rates

Anyone that doesn't have to move will just sit tight and ride it out so unless there are mass repossessions (and to be gleeful about the idea of those is a total twat move) there just won't be vast amounts of houses on the market to buy

Likewise wanting people to be stuck in rentals for their entire lives, with no security or ability to lay down roots or start a family, just so other people can protect their asset wealth... is pretty shitty.

Winners and losers, either way.

Likewise wanting people to be stuck in rentals for their entire lives, with no security or ability to lay down roots or start a family, just so other people can protect their asset wealth... is pretty shitty.

Well said.

@Annabelle69 I never said I wanted anyone stuck anywhere.
I just don't think wanting other people to suffer for personal gain is very nice.
Lots of people have saved for years and struggled to get on the property ladder.
They deserve a chance as everyone does.

Everyone being those who already own a property? Everyone not being those who pay extortionate rents so can't save for a deposit? Ok.

Generally, I'd hope no one wants to see anyone else suffer for personal gain. However, the housing situation is so chronic, for so many people, that I can completely understand why people want a drop in prices. The reality is it would benefit more people, than it disadvantages.

I don't care if my house halves in price. Upsizing is easier as it involves less debt, and more people could afford decent housing.

If he was that good a lawyer, imagine him as an economist. We’d all be snookered. OP and her lawyer fella sound like right twonks!

Ok landlord. You clearly don't want a house price crash. Just think depreciating assets and increased taxes. You'd have to have a "career" change 😁

Ban 5% mortgages. Minimum should be 10% deposit.

More schemes for key workers with price caps on houses. Can’t sell for a profit ever, has to sell to another key worker.

@Bedsheets4knickers you completely ignored my points. So no I would not want to buy something that someone didn't want to sell. how would you even know? My friend is selling her family home due to a divorce, she doesn't want too but her buyers don't know that.

I don't think that's nonsense and I'm quite proud of my morals .

It's nonsense that you are criticising others who want prices to fall because that could make things more difficult for you. But for some reason you think you are morally superior 🤔

Likewise wanting people to be stuck in rentals for their entire lives, with no security or ability to lay down roots or start a family, just so other people can protect their asset wealth... is pretty shitty.

Exactly, I don't why one side is reprehensible but the other side is good, it's very I'm alright Jack

This! I knew I recognized OP's username from some thread about housing. Massive fibber! OP why are you wasting everyone's time?

Odd isn't it.

Protecting asset wealth and hoovering up housing for financial gain = good.

Desperately wanting house prices to drop to affordable levels, so people can escape the purgatory of the rent trap, build lives, have families and a decent standard of living = evil.

😏

I'm not ignoring your points I just don't agree with them . I want to be proud of the home I've bought . We've had a long slog to be this far . If you think that houses popping up left right and centre for less then that what you would expect to pay wouldn't give you and inkling of someone that's fallen on hard times you are crazy . Im far from morally superior but after all what we have worked for I don't want to benefit in that way .

Lol. I Love this wishful thinking. While there will be a slight adjustment, prices will never crash.

Now this is Nonsense