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Things are looking very murky

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    Things are looking very murky

    Property is going through turmoil. BAD time to buy. I fear a 1980's style crash is looming. This year will be bad but next year will be worse. I have decent equity in my properties so I should be able to ride the storm. For those people that think the housing market isn't going to be as bad as last time had better open their eyes. If they haven't aready the web site below will!

    http://propertysnake.co.uk

    Type in your post code and see how many houses in your area have dropped like a stone in the last six months.
    Last edited by Lambros; 26 May 2008, 21:41.

    #2
    Originally posted by Lambros View Post
    http://propertysnake.co.uk

    Type in your post code and see how many houses in your area have dropped like a stone in the last six months.
    ... while not seeing any of the houses that have not dropped in price? A good site for people who only want to see the bad news. But I think the name rather suggested that an unbiased review was not in the mission statement.

    Comment


      #3
      Prices won't fall on their own.

      If/when people in numbers are forced to sell then prices will plumet.

      Otheriwise they won't (plumet).

      HTH
      Cats are evil.

      Comment


        #4
        If you want some real fun then install the property bee plugin for Firefox and scan Rightmove once a week for you local area. Have been using it since March on a small area of Bristol. Not one house sold and a lot of them come down 5-15% and still not budged. This was through the spring time as well - usually the busiest time for buying.

        http://www.property-bee.com/toolbar/download/
        my ferret is your ferret

        Comment


          #5
          All the ones I see on there for my area are in places where I wouldn't live if they gave me the house

          Anyway, who gives a stuff how much the house they live in is worth? What are you going to do, sell it because it's gone up in value and live on the pavement instead?

          The market value of your home is meaningless, because you live in it, so it isn't for sale. It's not like we're all permies who suddenly get relocated to Dundee or somewhere and have to sell up against our wills.

          This obsession with the supposed "value" of houses is just something that Daily Mail readers obsess about because the Sudoku's too hard for them. In the search for something to occupy what passes for their minds, they obsess about house prices, because they're actually very comfortably off and don't have anything important, such as being able to feed their children, to fret about.

          Frankly, I'd rather they just sat around like smug bastards saying "Screw the masses, I'm alright" rather than making out they've got a problem because something they don't even want to sell in the first place would fetch slightly less than it might have done last year

          Comment


            #6
            that Daily Mail readers obsess about because the Sudoku's too hard for them
            That's a bit harsh isn't it ? Is that really your impression of the Daily Mail and its readers as a whole ?

            /concerned
            Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be satiated; but those who torment us for our own good will torment us without end for they do so with the approval of their own conscience.

            C.S. Lewis

            Comment


              #7
              Originally posted by NickFitz View Post
              All the ones I see on there for my area are in places where I wouldn't live if they gave me the house

              Anyway, who gives a stuff how much the house they live in is worth? What are you going to do, sell it because it's gone up in value and live on the pavement instead?

              The market value of your home is meaningless, because you live in it, so it isn't for sale. It's not like we're all permies who suddenly get relocated to Dundee or somewhere and have to sell up against our wills.
              I agree with that in general. Unfortunately my own position is more like that: I bought a house last year, because I wanted one to live in and did not enjoy renting. The mortgage is higher than I want but I can taske it for a couple of years. This year or next year I want to sell, because I don't want to live in that area any more (but until this year I do, for personal reasons).

              So yes, I will relocate, and I do care what the price of my house is.

              Comment


                #8
                Originally posted by Board Game Geek View Post
                That's a bit harsh isn't it ? Is that really your impression of the Daily Mail and its readers as a whole ?

                /concerned
                It is not my impression. I think they are ALOT more stupid than that. pondlife the lot of em.

                Comment


                  #9
                  Originally posted by Lambros View Post
                  Property is going through turmoil. BAD time to buy. I fear a 1980's style crash is looming. This year will be bad but next year will be worse. I have decent equity in my properties so I should be able to ride the storm. For those people that think the housing market isn't going to be as bad as last time had better open their eyes. If they haven't aready the web site below will!

                  http://propertysnake.co.uk

                  Type in your post code and see how many houses in your area have dropped like a stone in the last six months.
                  A great crash that was. 20% down peak to trough - but prices are now 3 times that of the trough.

                  Comment


                    #10
                    Property

                    Where I live E2, prices are dropping like a stone, I suspect its the kind of market, IDNGAF because I am renting now but I was looking to buy last year June and now stuff that was about 275000, which was about as low as you could go if you wanted somthing that was not crawling with maggots.

                    It looks like flats in this area have dropped to the tune of 20/25% and they are not shifting either.

                    I think here will be worse because people where buying peid de terres and speculative buys as no-one wants to live their permenently( Even eastenders eventually leave the east end).

                    The place is still a bit of a toilet and I think the property prices will fall to reflect that
                    There are no evil thoughts except one: the refusal to think

                    Comment

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