Poll: The housing crash is coming

cheets64 · 31 May 2007 at 19:29

The number of new mortgage approvals in the UK fell to a 12-month low in April, Bank of England figures show.

Mortgage approvals totalled 107,000 in April, down from 111,000 in March and the third monthly decline in a row.

http://news.bbc.co.uk/1/hi/business/6707157.stm

First time buyers being blown out the water by property developers and buy to rent "scum".

Houses can’t be built fast enough in this country, so the crash isn’t to long off.

Can’t wait to get a nice cheap house.

knip · 31 May 2007 at 19:30

God I really hope so!

Glaucus · 31 May 2007 at 19:31

cheets64 said:
Houses can’t be built fast enough in this country, so the crash isn’t to long off.

No thats exactly why there wont be a crash.

simple supply and demand, demand outstrips supply thus prices rise. Until interest rates increase substantially or they stop 60year mortgages 50/50 buy/rent deals ect, then there wont be a crash. I hope there is, but lets be realistic.

Dolph · 31 May 2007 at 19:32

Oh look, it's the monthly price crash thread...

*yawn*

Just as a counter-point to the original source...

http://news.bbc.co.uk/1/hi/business/6703523.stm

Also published this week.

cheets64 · 31 May 2007 at 19:32

Yeah, added with the £1.5 trillion UK debt and the benefit "scum" living in free council houses and leccy,water, gas bills going up, we are in for a ride.

oneilldo · 31 May 2007 at 19:33

I shall be be the first to partake in this buy to let "scum" malarky if a crash does happen.

Beans on toast Dave · 31 May 2007 at 19:34

send them back

i think untill we see a slow down or a reverse in immgration, we wont see a crash

Mr_White · 31 May 2007 at 19:35

No, there is going to be no crash.

You first time buyers can keep wishing that, but it won't come.

Posty · 31 May 2007 at 19:36

the most house prices will fall is 5-8%

cleanbluesky · 31 May 2007 at 19:37

*There's no place like home*
*There's no place like home*

Along comes smug bailiffs, who attach a steel cable to the house and use 3 large tractors to repossess it.

knip · 31 May 2007 at 19:37

Mr_White said:
You first time buyers can keep wishing that, but it won't come.

Thanks, you just made my day

(not)

Maxi · 31 May 2007 at 19:38

challengedavid said:
send them back

i think untill we see a slow down or a reverse in immgration, we wont see a crash

Quoted for the truth!

Dolph · 31 May 2007 at 19:39

challengedavid said:
send them back

i think untill we see a slow down or a reverse in immgration, we wont see a crash

Are these the same benefit scrounging immigrants that we always hear about, or a different kind?

More to the point, does your opinion have any real basis in fact...

Beans on toast Dave · 31 May 2007 at 19:42

Dolph said:
Are these the same benefit scrounging immigrants that we always hear about, or a different kind?

More to the point, does your opinion have any real basis in fact...

no its my opinion as i said "i think"

but i bet if you looked you would find some article on it, but thats only my opinion as well

NathanE · 31 May 2007 at 19:44

Any house price crash would be linked to a recession in the economy and that just isn't happening. If anything the BoE is struggling to keep inflation under control because our economy is booming...

Mikeyboy · 31 May 2007 at 19:46

Come September, it'll have been 3 years since I bought my first property.

Whilst you're still hoping for a crash, I've made money. Money that you've lost out on by not buying earlier, choosing instead to hold off and wait for a crash.

http://youlose.ytmnd.com

Vixen · 31 May 2007 at 19:47

House prices are still rising by crazy amounts. My mum keeps an eye on flats being sold in my area because my flat is her retirement fund, and it's only in the last few months that the price has gone up significantly (it's now worth double what we paid 3 years ago).

Dolph · 31 May 2007 at 19:54

challengedavid said:
your a bit aggressive
no its my opinion as i said "i think"

but i bet if you looked you would find some article on it, but thats only my opinion as well

Not intended to be aggressive at all, so I apologise if it came across that way.

I'm just curious how the ideas mesh. Most people paint the image of immigrants frequently being lazy benefit scum coming here to take advantage of our social security system, these people won't be buying houses...

More to the point, the real problem is a lack of supply, as housebuilding has been low and is only relatively recently starting to recover.

This was published in 2004.

http://www.hm-treasury.gov.uk/media/053/C7/barker_review_execsum_91.pdf

And covered the root of the problem quite well.

trojan698 · 31 May 2007 at 20:00

knip said:
God I really hope so!

+1

cleanbluesky · 31 May 2007 at 20:01

Dolph said:
I'm just curious how the ideas mesh. Most people paint the image of immigrants frequently being lazy benefit scum coming here to take advantage of our social security system, these people won't be buying houses...

'most people' - a flagrant construction there...

Some people like to 'paint the image' of 'most people' as being misguided, to place themselves upon a pedestal perhaps...

It also depends on the area. There are some areas of London whereby you could walk around and quite easily form the opinion that immigrants were lazy benefit scum, and you'd be right.

Poll: The housing crash is coming

Will be see a house price crash ( >20% ) in the next few years ?

Yes

No