House prices..

Stinky said:
the guy i was speaking to said he is dealing with properties £200,000 + a hell of a lot more now, with FTB fizzling out.

the rich can afford to get rich, where as the poor will get poorer unfortunately :(
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But the market needs FTB to purchase the cheaper properties, so others can climb the ladder.
 
Stinky said:
the guy i was speaking to said he is dealing with properties £200,000 + a hell of a lot more now, with FTB fizzling out.

the rich can afford to get rich, where as the poor will get poorer unfortunately :(
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FSA estate agents and surveyors talking up the market - some things never change.
The whole boom thing has been shown to be a complete joke with the great gullible British public falling for it hook line and sinker.

Anyone who bought recently will end up in neg. eq.
Estate agents, FSAs and surveyors are going to have a very lean time.

With the price of oil so high and money supply tightening, expect very difficult times ahead, high inflation, interest rate rises higher unemployment etc.

Yes I am being a doommonger, but then I am a manic depressive;)
 
Slam62 said:
FSA estate agents and surveyors talking up the market - some things never change.
The whole boom thing has been shown to be a complete joke with the great gullible British public falling for it hook line and sinker.

Anyone who bought recently will end up in neg. eq.
Estate agents, FSAs and surveyors are going to have a very lean time.

With the price of oil so high and money supply tightening, expect very difficult times ahead, high inflation, interest rate rises higher unemployment etc.

Yes I am being a doommonger, but then I am a manic depressive;)
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why would a FA and surveyor talk up the market to somebody that is in that sector anyway??

there would be no reason for them to lie, tha FA is a good mate of mine, and he wouldnt talk the market up to me at all!
 
Stinky said:
that is true. but there seems to be a lot of movement between houses of the same value, therefore no increase in mortgage is required.
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That's not the point - every chain has to start with someone who has no house to sell.
This will generally be a first time buyer - without them, or a BTL investor, it doesn't matter what is going on further up the ladder, there can be no complete chains.
 
Stinky said:
why would a FA and surveyor talk up the market to somebody that is in that sector anyway??

there would be no reason for them to lie, tha FA is a good mate of mine, and he wouldnt talk the market up to me at all!
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My experience is that yes he would, they tend to be brain washed by the stuff they're supposed to brain wash customers with.

FSA as a job is not very nice
 
JAMAL said:
Nothing personal matey, just my experience :)

They are half the reason housing is in such a mess
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do people not realise that its the vendors that put the marketing price on a property? All we do is offer advice!

Yes, some agents over price to get the instiction. But if u go for an independent local agent you'll find everything is priced a lot more sensible! National agents are awful for over pricing hence why so many fall though for nation agents. They simple don't come up to valuation
 
after reading a lot of this...

I am still determined to BUY!!!!

I think now is a good time to get a bargain and that is what i intend to buy. I want a two bed flat in north london/islington for £200k. A big ask, they've been going for £300k+ for the past 5yrs.

So we'll see.

My basis is this,

either it will plummet. If it does, I've got a decent enough deal that in 5yrs time the market would've recovered and i'll be ok.

if it doesn't plummet, i have used people's fear to get myself a bargain.

A dangerous game...but one must take risks.
 
aardvark said:
the futures market is now pricing in a 50% drop over 4 years with the price not recovering to this level til 2017.
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Got a link for that?

Anyone willing to bet this won't happen could make a tidy profit if house prices only drop by 20%.
Who's brave enough to do it though?!!
 
Thought of starting a new thread on this but it should fit in here nicely enough.

Are the banks being their usual short sighted selves?

At the moment peoples finances are tight and the banks are worried about repayments. The shareholders are putting pressure on the banks to start to provide a measure of financial security. The banks are meeting this pressure by increasing the mortgage rates for many customers - thus increasing the short term cash injection. However, this places greater pressure on those already struggling and will drive more into arrears.

From arrears the final end point is repossesion where the banks lose a lot especially in a falling market.

Why are the banks incapable of looking at things in the medium to long term as opposed to the short term?
 
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