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Anyone else waiting for a buyer and feeling fed up?

56 replies

CuddyMum · 31/07/2012 12:50

Have been on the market a few months. Had a steady trickle of viewers. No negative comments - feedback usually is they have a house to sell, aren't on the market etc. Latest viewer had 5 children and needed more space (which he won't get with a 450k budget in this town). Anyway, I just feel really fed up today and wonder if we will ever sell. On the plus side the two houses we could downsize to are also still on the market.

OP posts:
YellowWellies · 11/08/2012 15:00

I wouldn't stress Cretaceous - the last crash took 2-3 years to reach London and at the time everyone was saying London and the home counties was immune and that it was just a northern crash. When the crash did finally reach the south-east prices fell faster and further there because the bubble there had been so much more inflated. I think that is what is going to happen this time too - ok there is foreign money but really the big savings on UK property for foreigners happened in 2008-9 when the pound crashed 30% - they saw the crash then. I just think Londoners are much better at being in denial / living in the media bubble / thinking they are immune from basic economics because of their international city status but ultimately what goes up must come down once the props to the market are removed - and with cheap and easy credit gone (thank god) the main support is over...

underthemountain · 11/08/2012 15:17

We just had another viewing but a day after coming home from holiday-so tired I was pretty much crying as I tidied. I think we will give up soon as we don't have to move and the problem for us is the uncertainty of where we would end up. Too little on the market to be able to guarantee we could get something we liked and uncertain about the price differential.

tricot39 · 11/08/2012 16:12

"Too little on the market to be able to guarantee we could get something we liked and uncertain about the price differential."

I think that explains the lack of buyers in a nutshell!

YellowWellies · 11/08/2012 17:27

Aye and a lack of buyers combined with a glut of sellers = falling prices. Especially as more and more folks come off their good mortgage deals / fall foul of the banks LTV requirements as prices fall. It sounds heartless but long term it really is a good thing as the less we pay to the banks for mortgages the more we can spend in the real economy (and the more jobs we can support), and the more competitive we become in the wider world (and the more jobs we can create). We should start celebrating falling living costs. Houses are for living in and raising our families in - they're not cash machines and never should have been.

tricot39 · 11/08/2012 18:38

Couldn't agree more.
DH came home with a tale about a man who bought a ex-LA property in Earls Court 20 odd years ago. It cost him £70k. He is has just put it on sale at £950k asking price. He just refused an £850k offer in order to hold out for more.
There are so many things wrong with this story I don't really know where to start Angry

Badvoc · 11/08/2012 19:12

Greed.
Same old story.
It's madness.

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