House price crash signs

[BrilloPad]

Since you are new poster I will be nice and explain it to you.

There is a long standing joke on here about AtW and his inability to buy property at the right time. Oh and the fact he needs a new sofa...

Its not a new poster. I am trying to spot the original. DimPrawn maybe?

[BrilloPad]

The housing market cannot be allowed to fall. Its the only thing propping the economy up.

[oliverson]

I can't see the bubble bursting until interest rates rise.

Considering they been so low for so long, it would surely be a disaster for the economy if they went up?

It is worrying that we have a whole generation of new home owners that have only ever experienced rock bottom interest rates. Before the crash, my mortgage rate was something like 4.5%. Going back further it was even higher. In the very early 90's I seem to remember them sky rocketing to over 13%!! Can you imagine what will happen to the market when rates do eventually rise to their normal levels? Example:

£ 300k mortgage over 25 years.

@2% - £ 1,280 a month
@5% - £ 1,773 a month

That's c. £ 500 per month increase, which is enough to put most people over the edge I would imagine, given people are maxing out on what they can borrow already.

[diseasex]

It is worrying that we have a whole generation of new home owners that have only ever experienced rock bottom interest rates. Before the crash, my mortgage rate was something like 4.5%. Going back further it was even higher. In the very early 90's I seem to remember them sky rocketing to over 13%!! Can you imagine what will happen to the market when rates do eventually rise to their normal levels? Example:

£ 300k mortgage over 25 years.

@2% - £ 1,280 a month
@5% - £ 1,773 a month

That's c. £ 500 per month increase, which is enough to put most people over the edge I would imagine, given people are maxing out on what they can borrow already.

Would be such fun to buy these "distressed" properties off the market...

[BrilloPad]

Would be such fun to buy these "distressed" properties off the market...

I thought you were going abroad?

[diseasex]

I thought you were going abroad?

What's so confusing? I'm still here.

[WTFH]

I thought you were going abroad?

He's a bit like Donald Trump. Lots of promises, lots of unintelligible talk, lots of plans.

[BrilloPad]

He's a bit like Donald Trump. Lots of promises, lots of unintelligible talk, lots of plans.

Are there also videos of him in a Russian hotel?

Whenever property prices go down people always wait for the price to drop further.....

[diseasex]

He's a bit like Donald Trump. Lots of promises, lots of unintelligible talk, lots of plans.

OK, but I'm a doer, not talker.

[WTFH]

OK, but I'm a doer, not talker.

The evidence on here is to the contrary.