Anyone want to buy a house not losing money?
Discussion
http://news.bbc.co.uk/1/hi/business/7637491.stm
Just had a look at this as it is the usual doom and gloom, prices falling etc.
Oddly though prices here have risen by 4.8% in the past 12 months, which means we are a year behind the rest of the country, possible. Or people want to live here.
Not sure if the prices are asking or actual sale prices though, as 2 in my street have been on sale for 8 months and despite 2 or 3 reductions haven't sold.
Do the figures actualy mean anything?
Just had a look at this as it is the usual doom and gloom, prices falling etc.
Oddly though prices here have risen by 4.8% in the past 12 months, which means we are a year behind the rest of the country, possible. Or people want to live here.
Not sure if the prices are asking or actual sale prices though, as 2 in my street have been on sale for 8 months and despite 2 or 3 reductions haven't sold.
Do the figures actualy mean anything?
Them being massaged or delayed seems most likely, there is certainly a slow down in sales, huge discounts going on new build developments, and houses that are up for sale being reduced.
A colleague bought a new build house 4 months ago, asking price was £290,000 (or there abouts). He paid £220,000 without any effort at all.
A colleague bought a new build house 4 months ago, asking price was £290,000 (or there abouts). He paid £220,000 without any effort at all.
Parrot of Doom said:
I don't see what's so gloomy about falls in house prices. Personally I see it as a good thing. I'd be happy if they dropped 50% overnight, and I'd still have equity in mine.
I understand about 1/3 of the country own their property outright.2/3 will have a mortgage of some description. If what you were suggesting cam about, I’m sure quite a few people in this remaining 2/3 would become technically bankrupt.
Yes, they may be able to continue to pay their mortgage on a property with negative equity, but I’d guess that many would hand back the keys and move abroad.
Not a good scenario.
Parrot of Doom said:
I don't see what's so gloomy about falls in house prices. Personally I see it as a good thing. I'd be happy if they dropped 50% overnight, and I'd still have equity in mine.
But why would that make you happy??? 
What reason would you have to be glad? Or are you just after the usual impact you get from from your typically anti-establishment, anti-social, anti-anything posts?
Parrot of Doom said:
I don't see what's so gloomy about falls in house prices. Personally I see it as a good thing. I'd be happy if they dropped 50% overnight, and I'd still have equity in mine.
Totally agree. Fuuny isn't it... when virtually everything else drops in price we're happy but when house prices drop we're all doom and gloom.King Herald said:
Parrot of Doom said:
I don't see what's so gloomy about falls in house prices. Personally I see it as a good thing. I'd be happy if they dropped 50% overnight, and I'd still have equity in mine.
But why would that make you happy??? What reason would you have to be glad? Or are you just after the usual impact you get from from your typically anti-establishment, anti-social, anti-anything posts?
King Herald said:
Parrot of Doom said:
I don't see what's so gloomy about falls in house prices. Personally I see it as a good thing. I'd be happy if they dropped 50% overnight, and I'd still have equity in mine.
But why would that make you happy??? What reason would you have to be glad? Or are you just after the usual impact you get from from your typically anti-establishment, anti-social, anti-anything posts?
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