Housing market far from dead

**Churchill** · 13 March 2007, 16:53

Originally posted by scooterscot

I just put an offer for a 3 bed in Edinburgh today not even that central it was for offers over 240K I put 316K with 23 notes of interest the competition was fierce. Got the call my offer was bomb shelled by someone who went in at 145% over the asking price i.e. just shy of the 350K for a 3 bed!!!! ARGGHH

Not even a rich contractor like me can compete with this….

You could always shoot yourself.

Call it your contribution to the prevention of carbon emissions!

**wendigo100** · 14 March 2007, 07:31

Originally posted by scooterscot

I just put an offer for a 3 bed in Edinburgh today not even that central it was for offers over 240K I put 316K with 23 notes of interest the competition was fierce. Got the call my offer was bomb shelled by someone who went in at 145% over the asking price i.e. just shy of the 350K for a 3 bed!!!! ARGGHH

Calm down dear, that's only 45% over the asking price.

Not as bad as you thought, eh?

**Troll** · 14 March 2007, 07:57

It's still an awful lot of wonga for a 3 bed in Scotland

**Hart-floot** · 14 March 2007, 09:08

USA today UK tomorrow...

http://news.bbc.co.uk/1/hi/business/6382399.stm

JONATHAN DAVIS, Housepricecrash.co.uk

Long decline

My view is that some people with buy-to-let properties will take fright and sell while they believe the going is still good and they can get out before the stampede.

Right now, there is a stampede in the US: according to some experts, the market is falling faster than since the Great Depression of the 1930s.

The buy-to-letters drove it up and they are bringing it back down again.

This is likely to happen in the UK.

Supply will soon exceed demand. Indeed, there are signs it does already.

It took some 12 years to get us up to where we are now and, like an oil tanker reversing, it is likely to be several years on the way back down.

The last crash lasted five years, from 1989 to 1994 when prices fell about 15% in cash terms and about 35% when you add back in inflation.

Inflation will not mask the fall this time.

**cykophysh39** · 14 March 2007, 09:27

I have just managed to sell my 1 bedroom house for £150 000, which I thought was a decent price, we are now moving to my sister in laws apartment, while we take our time to buy our next house, the main reason why we thought we'd take our time is that I do think a slump is going to happen.
I am currently working in Dublin, and the house prices here are just stupid, and has been fueled by the by to let market and Panic buying. I was watching a programme on telly here, and they a load of Estate Agents on proclaiming that even though they've had quiet periof from November through to March they are expecting things to hotting up again soon.

Which is intresting as I am working for Irelands largest estate agency, and they have had quite a record year last year, but things are quiet now, but they seem to focusing on the over seas market now.

**Lucifer Box** · 14 March 2007, 09:35

Nah, it's different this time. Best buy in right now while prices are still cheap.

**BlasterBates** · 14 March 2007, 09:37

The best indicator of recessions, crashes etc etc, is the number of times you see the word in the press.

Before the last stock market crash the Economist printed an article called "Crash dammit". A few months later it did.

So set up a search facility.

**scooterscot** · 14 March 2007, 12:59

Originally posted by Churchill

You could always shoot yourself.

Call it your contribution to the prevention of carbon emissions!

Surely if I was dead and decomposing I’d be contributing more to CO2 emissions than I am now in a given time frame, honestly use your loaf!

**scooterscot** · 14 March 2007, 13:03

Originally posted by wendigo100

Calm down dear, that's only 45% over the asking price.

Not as bad as you thought, eh?

Aren't you the sharped eyed one -

What i thought and what i wrote i'm obviously geared up to thinking the worst...

right what about this one how much?

Housing market far from dead