What month will the property crash be obvious in?

[roneik]

Not doom but a question, and I would like to hear some opinions

I reckon by july

It does not make me happy
I am a naturally happy little bunny
Why should I be unhappy ? I cant alter the direction of events , so I may as well smile and live for the moment. Make the most of the f@@k up situation.
Tell me oh wise one a better happier way

Too long dead to be any other way

It doesn't make me happy but I see it as inevitable

Now it's out of control , no amount of plate spinning and VI bull will stop the mother of all house price crashes

You can tinker you can spin you can rant , but the market will always win in the end.
Every market in the history of the UK has gone bad when governments try to influence or control . Look back at the car industry for proof.

I feel sorry for people with massive mortgages in se Lonon. Those little terraces went so £££ recently.

I do feel sorry for anyone who bought in the SE in the last few years . They will pay a heavy price .Nobody can claim this situation is either right or normal

The long and short of it is there are winners and losers , once the herd mentality is programmed you end up with sheep for the slaughter

Once housing benefit stops prices must drop. If interest rates go up, landlords will need to charge more rent to cover their costs or else sell up. I agree that it has suited the government to keep interest rates low which has raised house prices.

You know I keep thinking "why do we need so many incomers when we have nearly 2 million on benefits that could do these jobs that immigrants do

I watched a clip on You tube once , where a bloke stood outside a dole office and had jobs lined up that paid over three hundred quid a week. Not one took up the offer when they were told they had to get up for 6am and work on a farm picking crops.
I can tell you that when I was young guy I would have bitten off the guys arms to have one of those jobs.
Something aint right about this whole f@@ck up economy

Cough

As I said it's about standards of living, in the UK it will go down, in other countries it will go up and will even out between us all over many decades.

My dc aren't going to have as good teen years as I did despite parental income being on a par - all civil servants of sorts! I look back and can't believe they could afford to run 2 cars, go abroad camping every year, etc. etc.

I no longer expect my dc to leave home in the foreseeable future!

Hey random , if nothing else you do see. You are better prepared than most and no doubt you and yours will adapt and prosper. Better than being blind and consumed by greed

I think media and education play their roles though. I certainly think I was brought up/educated to expect an increasingly better lifestyle than previous generations. We're also not taught about how the economy works etc. plus the media drives me slightly crazy - we are bombarded with a get it now consumerism.

For example, the media message is you get pregnant and life is all pink and fluffy you have an okay pregnancy and okay birth and a healthy baby at the end of it - but it's not true look at the miscarriage, stillbirth and neonatal mortality rates. Why as a culture are we not celebrating a babies birth and survival - we take it for granted.

Anyway I'm rambling now, I loved being a SAHM I returned to work as DHs job was no longer secure and also because I want my DC to that you do have to work for a living.

Just had a look on right move and a house on the next road, small modern three bed terrace with garage on the market about three months, no chain has dropped by£10,000 in price. Was originally £85,000. I looked at other properties in my area and reckon the prices are going down.

Very interesting thread. I have had my fair share of these discussions but not recently! It's like deja vu here. Being Irish and having lived through a boom, my own generation clamouring to get on the ladder, stagnation, total bust, and now a recovery. I bought at the right time. We don't have wealthy Russians wanting our three bed semis though! I must be mad coming back for more and reading this thread! Can't get enough property talk.

Roneik, ARe you advising, warning, mocking!? Please clarify. Thank you.

Well trees if you have a house that loses 10k and other properties are going down, what' the problem. A house is to live in. I live in mine and don't give a monkeys what the price is , I bought it to live in not to barter and scrabble to leave the last man or woman standing holding a toilet pan

This has all come about because people have bought into greed is good. They will deny it publicly, but they know all about their motives and were assisted by the ministry of plenty . Not everyone but enough to cause the problem. It has now reached the saturation point .

Hey Tac not mocking just incensed by what is happening. I feel for the young , I was young and had a chance . Just having a chance is all they want. It's not good what's happening. It's not as though this happened by chance. If it had then maybe it would be acceptable. I mock the greed that's all. Be honest a lot of the problem boils down to just that

I do feel sorry for anyone who bought in the SE in the last few years . They will pay a heavy price .Nobody can claim this situation is either right or normal

I bought in the SE just over 2 years ago. Why would you feel sorry for me? My mortgage is £300 per month less than renting the same house would be. Even if interest rates go up and property prices go down, I'll own this one day. Why feel sorry for me? I'm in a much better position than a renter

I hear you. I felt like I was a second class citizen when all my contemporaries managed to get on the ladder and I didn't. It wasn't greed that made me want to get on the ladder though it was pure fear.

And then, oh the irony, by the circuitous route of not having as good a job as they had, I just kept saving and scrimping and living like a pauper for a decade and bought at the bottom of the market. It nearly embarrasses me sometimes, how well things have turned out for me when I did not go to university and did not get a nice big job and therefore could not afford to buy when the rest of my age group could afford to buy.

Have you heard of a man called David McWilliams? He predicted the Irish crash before anybody else. I know it's different as you don't have so many new housing developments (and corrupt developers) contributing to high property prices, but interestingly (to me) David McWilliams had said that once Golf Courses were sold to developers, that was it, the beginning of the end. And he was right.

roneik I am intrigued as to your lack of understanding of supply & demand? Even if a million homes are built in the next few years, demand still massively outstrips supply? Basic economics

No arman , because you may well have an asset that becomes worth much less than you paid for it , and banks can foreclose if their loan is going under. You want to read the small print

Demand is irrelevant in a true reversal. People can only afford what they can afford and generally once prices show signs of falling people tend to delay which is what I think will happen once this wave of negative sentiment takes hold. It is a good thing

Demand my arse, people are at the point here they are kipping at mums because the price of property is out of reach ,gone /finished. It's over maxed out . You had your time and that's it.

I think anyone who bought in the last few years is on shaky ground but there are more people who would benefit from price falls now and so i hope the govt allow this to occur finally rather than prop them up with silly schemes and low IR.

Basic economics dictates that if I have £1 and go to the shop for an item that costs £2 I cannot afford, and shop keeper say's on yer bike F@@ck off

No arman , because you may well have an asset that becomes worth much less than you paid for it , and banks can foreclose if their loan is going under. You want to read the small print

My house is 'worth' more than twice the amount left outstanding on my mortgage. Even if prices halve I won't be in negative equity. I actually think it would be a good thing if prices drop. If you are buying a home to live in rather than as an investment then I don't think a price drop matters.

Yes exactly that