HP down 3.6% in one month!

[freefruit]

yippee

there is a great song on you tube
Krusty and Phil
here we go much too fast if we don't stop now we're going to crash.....
I can hear the tune in my head now
it really is very funny take a look

I was shocked to discover the other day that the parent of one of dd1s friends 'owns' 12 houses

That's enough for all the families in her class who don't own any to have 1 each

'own' because they don't own them in the conventional sense are just highly geared with large mortgages her tenants are paying the interest on for them.

'loosing' because you havn't strictly lost something you don't have

Maybe just maybe we might be able to afford a home for our family, dd1 was telling me she wants to paint the walls blue and put fish stickers up the other day made me since she knows very well she can't even stick a piece of bluetac on the walls

I think this is the start of a long way down

sorry that doesn't make sense the dad was moaning to me last week about how much money they have lost recently

I have to say this is good news and I say that as somebody with a mortgage who wants to move up the ladder.
I'll believe it's the start of things to come when I see it though.
I reckon interest rates have got to rise first and they remained the same again.

Yeah great - have just struggled to buy one!! Good job we don't want to sell again for a while

The g'ment must be crapping themselves as people are going to start feeling poor now their houses are worth less! I wouldn't want to be a retailer this xmas...!

How wealthy you feel shouldn't be dependant on how much your house is worth though even though we have all got used to this over the years.It is not a cash machine to raid in times of trouble and if interst rates rise which they have to people who have kept remortgaging will find it difficult.Somewhere along the line salaries and house prices need to realign at a sensible ratio.I used to work in property not so much now but all my 'housey' friends say that agents are crapping themselves as nothing is selling and the phones are ringing off teh hooks with people wanting valuations Lots of people wanting to jmp ship now before big falls force them into negative equity.

I quite agree noddy but tis the way things have become thanks to the constant ramping over the last 5-10 yrs!

high house prices are evil minty

there are so many figures to prove it

how much of the nations 'wealth' is tied up in the hands of the retired etc etc.
there are just hundreds of them take your pick

it's really sad being kind of homeless we obviously have a roof over our heads quite a big one actually since we're in the basement but it's dark and damp and 1 bed for 4 is no fun!

noddy I'm working myself up to ask you a question about renovating a wreck...... I shall start a new thread!

noddyholder, where are people looking to jump ship to? Or are these all people that hold properties that they don't actually live in themselves?

there is a place that would suit us

However the asking price is around 1/3 higher than we would even consider paying and indeed higher than anyone esle has paid since the records went on line on net house prices!!

I suppose they are wanting to get out of the possibility of negative equity or down size/rent.Lots of people are enjoying the record low interst rates and repayments but know they will have to increase at some point.Also when deals run out now the criteia for a new deal may be changed and will certainly be tightened and I think this will be the biggest problem.People on trackers will be forced onto variable rate and many won't be able to afford it.

freefruit ask away.I have just finished another and we are moving into it in 2 weeks Still no kitchen but everything else finished and only took 7 weeks!

Ah I saw something to that effect and wondered what you'd done I thought the last place you lived in was one of your 'dream' places IYSWIM (the one you got at a good price)

I have started the thread but it's really unfocussed sorry.

It was at the time!Lovely house but dreadful road.Have now bought another victorian terrace which has had only 2 owners ever Little old man lived there so has been done top to toe.I 'plan' to stay here at least 5 years then once ds knows what he is doing we will think again!