House Prices Falling at Fastest Rate for 10 years!
#1
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House Prices Falling at Fastest Rate for 10 years!
House prices fell at their sharpest rate in nearly a decade in March, the Nationwide Building Society says.
The mortgage lender said on Thursday prices fell a seasonally adjusted 0.6 percent this month, the biggest decline since June 1995. That brought the annual rate of increase to just 7.9 percent, its slowest since June 2001, from 10.2 percent in February.
Soft landing or crash about to happen?
Pete
The mortgage lender said on Thursday prices fell a seasonally adjusted 0.6 percent this month, the biggest decline since June 1995. That brought the annual rate of increase to just 7.9 percent, its slowest since June 2001, from 10.2 percent in February.
Soft landing or crash about to happen?
Pete
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I thought I read something along the lines of largest fall in Jan/Feb but then a bigger than usual seasonal pick up in March so maybe things not that bad... Ie March still bad in its own right but good relative to Jan/Feb. Anyway I fancy a bigger one - hope they come down a good bit.
#3
This could be interesting. Do you not think that a big down turn in the housing market will be likely to cause a downturn in the economy, and hence domino effect of job losses, mortgage arrears, repossessions etc?
#7
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Originally Posted by T4molie
Wouldn't a rate rise in May make things worse?
I love crashing prices, gives a chance to clean up
Pete
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Originally Posted by pslewis
Hmmmmmmmmmmmm, Repos!! let me at them!!!
Payday!!
Pete
Payday!!
Pete
So, how do you reconcile your support of NL, guardians of the people, the champions of the nanny state, everyone given a fair chance etc etc, with your obvious joy at profiting from the despair of people who have lost their homes?
You sound more like a Tory capitalist to me.
Just a question.
#10
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Originally Posted by FlightMan
PSL,
So, how do you reconcile your support of NL, guardians of the people, the champions of the nanny state, everyone given a fair chance etc etc, with your obvious joy at profiting from the despair of people who have lost their homes?
You sound more like a Tory capitalist to me.
Just a question.
So, how do you reconcile your support of NL, guardians of the people, the champions of the nanny state, everyone given a fair chance etc etc, with your obvious joy at profiting from the despair of people who have lost their homes?
You sound more like a Tory capitalist to me.
Just a question.
I do NOT support those who have over-stretched themselves, sorry!! So if I can clean-up because someone borrowed more than they could afford and got caught out then I will!!
I have never borrowed what I couldn't afford to pay back, I save before buying ...... if I can be sensible then I expect others can be - if they are stupid then hard luck, I will pick up the pieces and help them to move on!
Pete
#11
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Bring it on. Plenty of people need the kick up the **** that a price crash would bring, all those fancy cars and lifestyles based on the hyped valuation of some bricks and morter. Come the day I'll pick up a nice repossesed house and car from some mug who thought cash in the house was cash in the bank.
#13
Originally Posted by PCatWork
This could be interesting. Do you not think that a big down turn in the housing market will be likely to cause a downturn in the economy, and hence domino effect of job losses, mortgage arrears, repossessions etc?
I imagine the only people who wont be interested in selling are those that jumped in at the top and have negative equity but thats not a massive problem anyway in the long term as housing always goes up in real value over time.
#18
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Originally Posted by speedking
7.9% pa untaxed is still far in excess of what most people make on their cash At this rate in a years time house prices will have levelled off, big deal .
Its about confidence, and there isn't any in the housing market - thats my point!!!
Pete
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Whoop de ******* do....
0.6 percent fall....
I wonder what the "change in stamp duty threshhold" adjusted figure is?
How many circa £250,000 houses are now sitting at £249,995?.
0.6 percent on a £250,000 house is £1,500 - hardly earth shattering...
0.6 percent fall....
I wonder what the "change in stamp duty threshhold" adjusted figure is?
How many circa £250,000 houses are now sitting at £249,995?.
0.6 percent on a £250,000 house is £1,500 - hardly earth shattering...
#20
at this rate the houseing market could crash and the "crashed" price will still be more than what the "i have cash to burn" muppets could have bought for if they bought when they first started talking about a crash!
7% = double in 10 years.....there will be NO RATE RISE soon.....nothing to see here!
7% = double in 10 years.....there will be NO RATE RISE soon.....nothing to see here!
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Good. Perhaps I can move out of my £190K hovel 'oop north' and buy something more substantial. Ooops, nearly forgot a £190K house up in gods country offers the same accommodation as a £350K one 'dan sath'. Best spend the huge savings on booze then
#23
Originally Posted by Tiggs
7% = double in 10 years.....there will be NO RATE RISE soon.....nothing to see here!
The only thing I would like to avoid is being in a situation where I couldn't sell at or around the price I bought for, if I wanted to move due to work or something.
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Originally Posted by pslewis
YES, but thats great for us property buyers with cash on the hip!!
I love crashing prices, gives a chance to clean up
Pete
I love crashing prices, gives a chance to clean up
Pete
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Originally Posted by pslewis
I do NOT support those who have over-stretched themselves, sorry!! So if I can clean-up because someone borrowed more than they could afford and got caught out then I will!!
I have never borrowed what I couldn't afford to pay back, I save before buying ...... if I can be sensible then I expect others can be - if they are stupid then hard luck, I will pick up the pieces and help them to move on!
I have never borrowed what I couldn't afford to pay back, I save before buying ...... if I can be sensible then I expect others can be - if they are stupid then hard luck, I will pick up the pieces and help them to move on!
I agree with the super troll.....
I need a lie down....
#26
Originally Posted by Cyberevo
What a To$$er you really are. The world would be a better place without selfish greed minded people like you, now **** off!
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Originally Posted by Cyberevo
What a To$$er you really are. The world would be a better place without selfish greed minded people like you, now **** off!
The world would be a better place without selfish greed minded people like you, now **** off!
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I dunno, this could be a good time to move. I always fancied a villa in spain, perhaps I'll cash in the rabbit hutch, sell some of my property porfolio and hit the road
Last edited by Jye; 31 March 2005 at 01:46 PM. Reason: for you my precious
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Originally Posted by Jye
I dunno, this could be a good time to move. I always fancied a villa in spain, perhaps I'll cash in the rabbit hutch, sell some of my property porfolio and hit the road
If that rabbit hutch is in london, could be looking at a small fortune in land...