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Original poster

Housing price crash

534 replies

Eucalyptusbee · 12/05/2022 09:58

It's happening!

AIBU to be excited

OP posts:
treebit · 12/05/2022 23:05

What I'm saying is it's achievable to many if they focus on it .

🙄

treebit · 12/05/2022 23:07

well apparently not as you're worried about not getting a low deposit mortgage deal & being in negative equity....

Bedsheets4knickers · 12/05/2022 23:13

treebit · 12/05/2022 23:07

well apparently not as you're worried about not getting a low deposit mortgage deal & being in negative equity....

Negative equity is only a problem if you want to sell .. I assume this was aimed at me .

DixonD · 12/05/2022 23:16

Eucalyptusbee · 12/05/2022 10:09

Exciting because buying a home might become affordable again

Yes but with high interest rates, first time buyers may not be able to afford repayments and lenders will be less flexible. It’s not good news. You’re very naïve.

My husband is the most senior property solicitor in his firm. He does not see what your husband sees.

There is no reduction in house prices in our area and they will only ever slow in growth, not go backwards.

treebit · 12/05/2022 23:25

Negative equity is only a problem if you want to sell ..

Not quite. For someone who buys with a high LTV rate negative equity can certainly be an issue when it comes to remortgaging.

Overthewine · 12/05/2022 23:33

This reply has been withdrawn

This has been withdrawn by MNHQ at the poster's request.

Bedsheets4knickers · 12/05/2022 23:44

treebit · 12/05/2022 23:25

Negative equity is only a problem if you want to sell ..

Not quite. For someone who buys with a high LTV rate negative equity can certainly be an issue when it comes to remortgaging.

Which by that point the tides will have changed again 🤗

ninnynonny · 12/05/2022 23:45

The city I live in has no signs whatsoever of a crash or even a slow down. They are going up weekly

Fairisleflora · 12/05/2022 23:55

Avocados. Has anyone told those struggling to buy about giving up avocados? Or maybe buying supermarket own brand food?

TwinklingFairyLights · 12/05/2022 23:58

The last crash was because of a global crash. That wont happen again.

Are you 100% sure of that?

TwinklingFairyLights · 13/05/2022 00:02

Fairisleflora · 12/05/2022 23:55

Avocados. Has anyone told those struggling to buy about giving up avocados? Or maybe buying supermarket own brand food?

30p meals?

treebit · 13/05/2022 00:16

Interest rates will reach around 1.75%-2.5% in 18m time and then drop again This isn't some huge decade long recession incoming.

I hope not, I definitely think we are in for a long period of stagnation. It's pretty worrying that the BOE didn't see the March 0.1% drop coming & they've been on the back foot with inflation.
What will be the driver for improving things & stopping the decline of living standards? We have a looming ageing population crisis which is going to make things much tougher.

Wintersgirl · 13/05/2022 00:17

TwinklingFairyLights · 12/05/2022 23:58

The last crash was because of a global crash. That wont happen again.

Are you 100% sure of that?

Didn't it begin in the US by huge amounts of homeowners defaulting on their mortgage payments?

TwinklingFairyLights · 13/05/2022 00:18

ninnynonny · 12/05/2022 23:45

The city I live in has no signs whatsoever of a crash or even a slow down. They are going up weekly

We only have actual sales prices for Feb 22. There is a lag between SSTC and completion. Given that banks are restricting lending, do you think prices are going to continue to go up forever? I think they will plateau and drop by 10%.

TwinklingFairyLights · 13/05/2022 00:20

Didn't it begin in the US by huge amounts of homeowners defaulting on their mortgage payments?

The 2008 credit crunch did yes. A global crash could be caused by anything though. A war for example. Spotted any of those recently?

Overthewine · 13/05/2022 00:33

This reply has been withdrawn

This has been withdrawn by MNHQ at the poster's request.

Bedsheets4knickers · 13/05/2022 00:42

treebit · 13/05/2022 00:16

Interest rates will reach around 1.75%-2.5% in 18m time and then drop again This isn't some huge decade long recession incoming.

I hope not, I definitely think we are in for a long period of stagnation. It's pretty worrying that the BOE didn't see the March 0.1% drop coming & they've been on the back foot with inflation.
What will be the driver for improving things & stopping the decline of living standards? We have a looming ageing population crisis which is going to make things much tougher.

Not if people can BENEFIT for paying for their own care

Overthewine · 13/05/2022 00:44

This reply has been withdrawn

This has been withdrawn by MNHQ at the poster's request.

Overthewine · 13/05/2022 00:47

This reply has been withdrawn

This has been withdrawn by MNHQ at the poster's request.

TwinklingFairyLights · 13/05/2022 00:58

@Overthewine

It will be interesting to see how well your comments age.

worriedatthistime · 13/05/2022 01:08

They do need to drop a little and them stay static not everyone will not sell as even if there property drops so will the one they want to buy.
But they need to stop landlord : cash buyers buying so much and give FTB etc a chance

sst1234 · 13/05/2022 06:32

This reply has been deleted

This has been withdrawn by MNHQ at the poster's request.

I guess, big pharma had their payday in the previous two years so now it’s the turn of defence and oil industry.

sst1234 · 13/05/2022 06:34

Allthe4s · 12/05/2022 22:11

Think Zeus44 should chat with Kim Jong-Un about those ideas.

Or OP’s husband. They seem to have so much wisdom in their household based on her posts.

Snowraingain · 13/05/2022 06:38

Mmmm you seem a delight.