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

[DaddyCool]

.... 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.

I got married in 1993 - now I feel old.

As a Mortagage broker I can tell you to many people have borrowed far to much money. People call us for a mortages they only want interest only because they cant afford to repay the capital HEllO. So we have a country that is maxed out on interest only with no proof of income deals. And before anyone comes back with yeah like we'ved lived in our house for years and dont have any debt so there will be no crash. 1st its not you its your next door neighbour who maxed out on credit cards and spent the equity 2nd when New Labour came to power they said no more boom or Bust and 10 years later the country has gonne from 500 million national debt to 1.4 Trillion and House prices up 250%. There will be a crash but predicting the top, ah thats diffrent. Judging by the amount of To Let boards up in Bournemouth I think there may be a small problem of over supply within the Buy to let community which could filter through to the main market.

I think it is the maxed out people who will trigger the market falling.Many people bought their council houses at a bargain and then when they increased borroed the money back to buy 'stuff'I know several with huge jeeps and lots of new material things but they think their house will pay for it all.

Fantastic piece in The Observer today on this.

Good article. It said a lot that I agree with, such as we were very lucky to buy when we did as even a couple of years later and we would have been stuffed, as BIL and his wife are. Also it's theoretical money, which SIL cannot grasp

I hope they do go down. but I doubt they'll crash again unless interest rates go back up to the silly levels they were in the 80s.

divorce rates started to drop last year, which is a good or bad sign depending on whether you own a house or not.

Not read all the posts, but IMO the government's preferred indicator of inflation is bollocks because it does not include house price inflation. which, if I'm right, is discounting the single biggest expenditure of the majority of households. so it's a bit of a con really ~ they are selling us the advantages and conveniently hiding the disadvantages.

I don't think prices are going to collapse due to the increased demand for houses, especially if you have a generous sized house and or garden given current standards of house building. I do think tho a certain portion of the population are living on financially borrowed time and that time might be coming up soon. There was a woman on the 6 o'clock news the other night and her INTEREST ONLY payment was going up to over £800 per month . I know I live in the cheap grim up north but that's a whack out of most normal people's wage packet!!

What a wonderful article. It's so nice to be right
Thanks for that www
I nearly posted that high property prices just transfer wealth from the rich to the poor and the old to the young but decided against it since low property prices do the same.
However the difference is is a low price environment (with or without high inflation) you don't have to work for x more years to pay it all off.
There is just one other thing will someone please tell me how you 'accidentally make money' especially enough to buy a house nowadays since hard work isn't doing it for me

There's always the funny side
No no no house price crash
Our house in the middle of a slump

ROFL DaddyJ!! I am now sitting here humming "here we gooooo, way too faa-aa-ast..."

love the first one DaddyJ

Where has DaddyCool gone? would be interested to hear what he thinks

questionname "I'm surprised how many on here can't remember the last price crash" oh I do!! We lost a third of the value of our first house and had to move with a 125% mortgage. Then we got shafted with an insufficent endowment (which we did get compensation for). Which explains a little as to why we're not keen on taking risks with property.

I guess we were lucky that we could do so. We were in a one-bed cottage - beautiful and full of character and all that, but no good when DS#1 arrived.

Tis true. We got a 3-bed terrace for 47k. Which is now worth nearer 160. But I can imagine quite a few people were trapped for a while.

lol daddycool!!! you guys are coming back??!!! Imagine my surprise when I look at mn and get some good news!!Not sure you know who I am, let me refresh your memory: met in Australia.... Good to see you!!

why didn't the bold thingy work?

now let's be sensible about this house price crash thing

1. there is no spare land
2. labour costs are high
3. building materials costs aren't going down in the near future
4. demand exceeds supply

how exactly are house prices going to crash?

and if they do, great. if they fall by 10% then i will be able to afford a bigger house as the differential will be less!

anyone see the Naomi Clever article in the ST's Home section yesterday?

she has str as she is convinced crash is imminent