Can’t wait for the big crash

[HPcrashingdown]

I can’t wait for prices to come back down. It’s absolutely ridiculous how mental prices have gone. I will be just waiting with my hefty deposit ready to buy my forever home. It will be great.

i think these a post designed to wind people up!

Negative equity isn’t just a problem when you want to move, it’s also a problem when it becomes time to remortgage.

😂 come now bungalow bill.

are you just pissed that no one said there would be a major crash.

Don't expect a crash anytime soon, there's still way more pressure on demand than supply.
UK population is growing, largely due to immigration, the housing stock isn't increasing at the same rate.

Troll

I'm not hoping for a massive crash but definitely a softening and long long stagnation. The COVID boom was crazy some places went up by 40 percent.

Yeah but then you won't be able to get a mortgage as the criteria will rapidly tighten. So...

(Homeowner looking to sell in next 2-3 years)

Yes! It’s ridiculous I don’t know how anyone can afford it. How are you even supposed to save a deposit if you’re paying rent?!?!? It’s absolutely out of control Our flats supposedly gone up £40k fucking ridiculous! Bring on the correction.

Hope you can finally afford a house💕

I wouldn't hold your breath, almost definitely not going to happen and I say that as a pretty desperate first time buyer. Interest rates will reduce (slightly).. more people will want to buy then keeping house prices and competition high.

Bungalow bill

You clearly have a poor grasp on economics OP

I will be just waiting with my hefty deposit ready to buy my forever home. It will be great

As will a lot of people. Mind you don't get gazumped, now.

''@WalkAwaySugarbear · Today 18:23
Where's the crash? My home has gone up by £60k since we moved in a year ago.''

So what? unless you downsize, you will never see the £60K. If you move go a bigger house it will also have gone up and any profit you made will be swallowed but your next purchase and you will just tie yourself to another mortgage.

The British people somehow have convinced themselves that high house prices mean wealth and are a good thing.

Instead, it only benefits a tiny number of people...

If (it's a big if) this happens there will probably be a domino effect across the wider economy with people spending less, job losses and companies going bust, higher unemployment, which in turn means less money in the economy so even worse public services and more austerity. Is that really what people want?

I don't think there will be a crash. Houses might come down a bit. But it won't be like it was. There's still a lot of people with funds to buy, which will keep the prices higher. And if house prices crash people will do everything they can to hang on to their property rather than sell it and lose everything. So I wouldn't book your removals van just yet, nasty goady fucker.

Hope you've got plenty of time.

I get your point ( most people are just interested in what benefits/affects them )

but ffs keep it up yourself

Personally I would prefer a period of stagnation to allow average wages to catch up. Stagnation means your home is still worth what you paid for it , so not negative equity, with little increases in value, not the huge jumps of 50-200 + % increases that we have seen over very short periods of time.

I have noticed reductions in house prices in my area, whether that is because there are fewer buyers due to uncertainty around interest rates, not sure we have seen the peak yet, or more realistic valuing by agents following the recent boom, or a bit of both ?
At the end of the day a house is only worth what someone is willing to pay for it.

I own, but you can flip this round. You want her to be paying a landlord's mortgage indefinitely and have 0 assets for life just so you aren't in negative equity?

When I was a new graduate in 2000 my then boss urged me to buy a house.
I poo pooed that idea.
Houses were SO expensive there was no way I was spending that much money on a house when just 3 or 4 years prior they’d been half as much. It must be a blip, no way would those enormous increases last.

then this happened

People have being saying this since 2008.

I don’t think the poster is saying she has that money, but that the increase in price isn’t indicative of a crash.

My house has gone from £160k to £300k in the last 10 years. I know fully well that I don’t have that money, or that I could suddenly buy a more expensive house. However I also know that my wages haven’t got up inline with that increase, and that now I couldn’t afford to buy my house.

@flowagurl when you come to sell why don’t you put your place on for £40K less then. That would help to drop the prices in your area.

Vinegar tits