Page 11 | Housepricecrash.co.uk - what a bunch miserable buggers. Can I get some normal folks opinions please?

DaddyCool · 2007-05-11T12:19:03+00:00

.... and not some 45 old wally still living with mother and bitter because he spent all his money on model trains instead of a down-payment back in 1998? Not a good cross section on there at all. Is it going to crash do you think? Please give me your opinions. As far as I can see it's a 50/50 split on the nation's opinion but I would like to see how similar people to myself (parents with small children) think.

oiltrader · 06/12/2022 15:08

Justthisonce12 · 06/12/2022 12:05

Even a broken clock is right twice a day

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only has to be right once x

Justthisonce12 · 06/12/2022 15:11

oiltrader · 06/12/2022 15:08

only has to be right once x

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Well, will keep an eye on this thread shall we ? And no, it doesn’t only have to be right once at all to compensate for the years and years of lost opportunity.

oiltrader · 06/12/2022 15:16

Justthisonce12 · 06/12/2022 15:11

Well, will keep an eye on this thread shall we ? And no, it doesn’t only have to be right once at all to compensate for the years and years of lost opportunity.

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Irrelevant for me. DH and I are mortgage free in our forever home x

Justthisonce12 · 06/12/2022 15:23

oiltrader · 06/12/2022 15:16

Irrelevant for me. DH and I are mortgage free in our forever home x

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Er ok then

DeadHouseBounce · 06/12/2022 20:34

Obviously the crash is here unless there is a major reversal on interest rate policy, HPC is no more an "echo-chamber" than more mainstream forums where it was cool to overpay to "win" property and take on debt that wont be payable at normal interest rates....until it wasnt cool anymore. The HPC crowd are laughing hard at people with too much debt or who thought their house was worth a small fortune calling them names now, it means they are right at last.

JesusInTheCabbageVan · 07/12/2022 07:48

The HPC crowd are laughing hard at people with too much debt or who thought their house was worth a small fortune calling them names now, it means they are right at last.

This just makes them sound even more tragic tbh

Lastwhisper · 07/12/2022 14:42

I’ve read some of the comments on housepricecrash. There is too much glee at the forecast plight of recent homebuyers. More anger at those suggesting more debt is good, would be more appropriate.

DeadHouseBounce · 07/12/2022 16:53

JesusInTheCabbageVan · 07/12/2022 07:48

The HPC crowd are laughing hard at people with too much debt or who thought their house was worth a small fortune calling them names now, it means they are right at last.

This just makes them sound even more tragic tbh

www.msn.com/en-gb/money/homeandproperty/uk-house-prices-record-biggest-monthly-fall-since-2008/ar-AA151037

😂

JesusInTheCabbageVan · 07/12/2022 20:24

To be absolutely clear: I mean they're tragic because they're sitting in their bedsits laughing about something that will be inconvenient at best, and at worst disastrous for many people, including potentially them. It's just all a bit pathetic, really. But I'm sure you know that, deep down.

Mark19735 · 07/12/2022 20:59

The very next line in that article says "The annual rate of house price growth slowed to 4.7 per cent, from 8.2 per cent in October"

Growing more slowly is not a crash. Prices levelling off is not a crash (even though this would make houses cheaper relative to wages). If Mrs Miggins down the road sells her house next year for a little bit less than the Joneses paid last summer for their one on the other side of the road (but still for 10 times what she herself paid for it) ... it is still not a crash. It is only a crash when many, many people are selling their homes for less than they themselves paid for them.

I'm not saying it couldn't ever happen ... but it'll take a lot more than interest rates rising 4-5% to do it.

HotChoxs · 07/12/2022 21:18

Mark19735 · 07/12/2022 20:59

The very next line in that article says "The annual rate of house price growth slowed to 4.7 per cent, from 8.2 per cent in October"

Growing more slowly is not a crash. Prices levelling off is not a crash (even though this would make houses cheaper relative to wages). If Mrs Miggins down the road sells her house next year for a little bit less than the Joneses paid last summer for their one on the other side of the road (but still for 10 times what she herself paid for it) ... it is still not a crash. It is only a crash when many, many people are selling their homes for less than they themselves paid for them.

I'm not saying it couldn't ever happen ... but it'll take a lot more than interest rates rising 4-5% to do it.

That means that house prices grew at 4.7% from last November

From October they shrunk 2.4%

If they continue to shrink at 2.4% a month by next summer Mrs Miggins house will have lost 15% of its value.

Justthisonce12 · 07/12/2022 22:00

Mark19735 · 07/12/2022 20:59

The very next line in that article says "The annual rate of house price growth slowed to 4.7 per cent, from 8.2 per cent in October"

Growing more slowly is not a crash. Prices levelling off is not a crash (even though this would make houses cheaper relative to wages). If Mrs Miggins down the road sells her house next year for a little bit less than the Joneses paid last summer for their one on the other side of the road (but still for 10 times what she herself paid for it) ... it is still not a crash. It is only a crash when many, many people are selling their homes for less than they themselves paid for them.

I'm not saying it couldn't ever happen ... but it'll take a lot more than interest rates rising 4-5% to do it.

Since everybody was stress test it up to 10% mortgage rates from 2008 onwards. Il we’ve got a while to go in this creepy little fantasy of their s before there’s an issue. And i say that as someone who’d like to upsize but not at the expense of a family loosing everything they’ve worked for.

Justthisonce12 · 07/12/2022 22:01

HotChoxs · 07/12/2022 21:18

That means that house prices grew at 4.7% from last November

From October they shrunk 2.4%

If they continue to shrink at 2.4% a month by next summer Mrs Miggins house will have lost 15% of its value.

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WTF ? Your maths or reading comprehension or both leaves a lot to be desired

HotChoxs · 07/12/2022 22:42

Justthisonce12 · 07/12/2022 22:01

WTF ? Your maths or reading comprehension or both leaves a lot to be desired

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Strange how everyone from Estate Agents to RICS are predicting similar falls though isn't it

Justthisonce12 · 07/12/2022 22:48

HotChoxs · 07/12/2022 22:42

Strange how everyone from Estate Agents to RICS are predicting similar falls though isn't it

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I predict a 0-4 win to France on Saturday and I have about as much data and previous behavioural patterns to draw upon has any of the above.

HotChoxs · 07/12/2022 23:14

Justthisonce12 · 07/12/2022 22:48

I predict a 0-4 win to France on Saturday and I have about as much data and previous behavioural patterns to draw upon has any of the above.

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Well you've already been wrong about house prices not dropping as this month has been the biggest monthly fall since 2008

Justthisonce12 · 08/12/2022 02:38

HotChoxs · 07/12/2022 23:14

Well you've already been wrong about house prices not dropping as this month has been the biggest monthly fall since 2008

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I havent been “wrong” about anything ive not predicted anything either way sooooo 🤷‍♀️

Mark19735 · 08/12/2022 08:56

House prices haven't actually fallen yet though. They are so desperate to chalk up a win that they are counting things like reductions in asking prices as falls, or changes in indexes as falls.

A price only falls when there are two actual transactions ... the earlier one at a price that is greater than the subsequent one.

Anything else is not a fall. A house selling for price that is lower than a different house sold for last month is not a fall if it still sells for more than the current owner paid for it.

The other point they keep trying to make is that the affordability position of the buyer determines the eventual sale price. This presumes that the seller has to sell at any price. In reality, every seller has a floor below which they would prefer not to sell. Often that floor is set by a combination of sentiment, rental yields, interest rates and marginal tax rates, so is different for each owner and therefore hard to generalise - but it exists, and that is what the reduced listings and completed transactions are actually showing, rather than precipitating an imminent crash.

DeadHouseBounce · 08/12/2022 13:51

Justthisonce12 · 07/12/2022 22:00

Since everybody was stress test it up to 10% mortgage rates from 2008 onwards. Il we’ve got a while to go in this creepy little fantasy of their s before there’s an issue. And i say that as someone who’d like to upsize but not at the expense of a family loosing everything they’ve worked for.

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Since when did someone "work for" a pile of mortgage debt handed out by a bank? Since when did someone "work for" an increase in the value of their house because someone else borrowed an even bigger pile of debt? LOL. Sorry but your post underlines the economic stupidity that is rife in the UK and that led us to this, the biggest property bust in history, people will lose out in proportion to the amounts of unaffordable debt they signed up for, and that is basically their fault and their stupidity.

And calling wishing for affordable housing for ordinary working people a "Creepy little fantasy" is really bizarre!

DeadHouseBounce · 08/12/2022 13:53

Mark19735 · 08/12/2022 08:56

House prices haven't actually fallen yet though. They are so desperate to chalk up a win that they are counting things like reductions in asking prices as falls, or changes in indexes as falls.

A price only falls when there are two actual transactions ... the earlier one at a price that is greater than the subsequent one.

Anything else is not a fall. A house selling for price that is lower than a different house sold for last month is not a fall if it still sells for more than the current owner paid for it.

The other point they keep trying to make is that the affordability position of the buyer determines the eventual sale price. This presumes that the seller has to sell at any price. In reality, every seller has a floor below which they would prefer not to sell. Often that floor is set by a combination of sentiment, rental yields, interest rates and marginal tax rates, so is different for each owner and therefore hard to generalise - but it exists, and that is what the reduced listings and completed transactions are actually showing, rather than precipitating an imminent crash.

They won when interest rates started rising, these things take time to feed through the system, the "mini-budget" effect isn`t even in the stats yet, that should be interesting for you when it turns up, LOL.

JesusInTheCabbageVan · 08/12/2022 14:15

And calling wishing for affordable housing for ordinary working people a "Creepy little fantasy" is really bizarre!

That's not what you're all wishing for though, is it? You just want to see people lose their homes. You've made that very clear on numerous occasions. There are healthier things to masturbate over.

Justthisonce12 · 08/12/2022 14:58

At this stage of events, the medicine is worse than the cure. It’s all fucked. We know it’s all fucked. Nobody is arguing against that. The creepy little fantasy quite simply cannot play out without the whole pyramid, scheme collapsing, which point house prices will be absolutely least of any of our worries.

So what the house price crash crew are hoping for is complete societal collapse that’s gonna take with it all of their savings because of course they’ve worked harder for their savings than anybody has for anything else obviously 🙄

HotChoxs · 08/12/2022 16:18

Justthisonce12 · 08/12/2022 14:58

At this stage of events, the medicine is worse than the cure. It’s all fucked. We know it’s all fucked. Nobody is arguing against that. The creepy little fantasy quite simply cannot play out without the whole pyramid, scheme collapsing, which point house prices will be absolutely least of any of our worries.

So what the house price crash crew are hoping for is complete societal collapse that’s gonna take with it all of their savings because of course they’ve worked harder for their savings than anybody has for anything else obviously 🙄

This is ridiculous. HPC has wanted a HPC for years so that societal collapse can be avoided. Meanwhile there have been cheerleaders everywhere inflating the HPI bubble without giving two hoots as to the consequences.

Now we have such a big bubble that it's going to bring everything down. And you're bothered about the HPC guys? Get your priorities straight why don't you.

DeadHouseBounce · 08/12/2022 21:15

JesusInTheCabbageVan · 08/12/2022 14:15

And calling wishing for affordable housing for ordinary working people a "Creepy little fantasy" is really bizarre!

That's not what you're all wishing for though, is it? You just want to see people lose their homes. You've made that very clear on numerous occasions. There are healthier things to masturbate over.

"There are healthier things to masturbate over."

Like HPI you mean, until the FED took the Jazz Mag away, LOL.

DeadHouseBounce · 08/12/2022 21:20

JesusInTheCabbageVan · 08/12/2022 14:15

And calling wishing for affordable housing for ordinary working people a "Creepy little fantasy" is really bizarre!

That's not what you're all wishing for though, is it? You just want to see people lose their homes. You've made that very clear on numerous occasions. There are healthier things to masturbate over.

"You just want to see people lose their homes."

No, I want to see house prices crash to levels where they are easily affordable by ordinary people, someone can stay in their 300k home that they borrowed 600k for, that is their problem their daft choices, no need at all for them to be homeless as well (the bank doesn`t want them homeless, the bank want them to keep servicing their big debt, and the tragedy is that most will just suck it up and be good little debt serfs from their new "Forever Home")