Doomed (yet again, really this time...)

[sasguru]

In the late 80s when prices last crashed it took 10 years for them to recover. Why do you think people will be sensible this time? All bubbles always end with panic and overeaction, it's human nature.

Why do you put your foot in it everytime and show your appalling ignorance?
It's no wonder you haven't profited from this boom. And it's unlikely that you'll profit from the next one

Prices started falling end 89/start of 90 but started to rise again in 1995 (when I bought my first property) and have been rising ever since.

[sasguru]

The reason why property has gone down in the past is due to a downturn in the economy. Presumably people then go abroad for work and the demand goes down.

At the moment, the economys fine and people are still queueing up to come in to the UK. If people stop buying then they have to rent. This will push rent prices up and make buying a house more attractive again.

There are black clouds hanging over the City at the moment but it's early days to say that the general economy will suffer.

Agree with that. The only way there will be a large drop is if there is a recession leading to increased unemployment. That doesn't seem to be on the cards yet.

[DBA_bloke]

Why do you put your foot in it everytime and show your appalling ignorance?
It's no wonder you haven't profited from this boom. And it's unlikely that you'll profit from the next one

Prices started falling end 89/start of 90 but started to rise again in 1995 (when I bought my first property) and have been rising ever since.

Yep. Things had changed forever by then:

1. Buying council property allowed.
2. Mortgages being approved using more meaningful calculations than 3.5 X income, and that's final.
3. Folk realized that home ownership was actually possible for THEM, and so the home ownership boom took off.

[Bagpuss]

Why do you put your foot in it everytime and show your appalling ignorance?


Prices started falling end 89/start of 90 but started to rise again in 1995 (when I bought my first property) and have been rising ever since.

Prices took several years to recover from the late 80s falls FACT

The current boom started circa 99 so what is your point?

As usual you don't have one

Yep. Things had changed forever by then:

1. Buying council property allowed.
2. Mortgages being approved using more meaningful calculations than 3.5 X income, and that's final.
3. Folk realized that home ownership was actually possible for THEM, and so the home ownership boom took off.

No interest rates had fallen and we just came out of recession, what's all this possible for them crap?

Only the very poor couldn't afford to buy their own house.

[sasguru]

Prices took several years to recover from the late 80s falls FACT

The current boom started circa 99 so what is your point?

As usual you don't have one

So how come I made huge profits when I sold my flat (bought in 1995) in 1997 and again from 1997 to 1999? Which I then used as deposits on two other flats.

[DBA_bloke]

Prices took several years to recover from the late 80s falls FACT

The current boom started circa 99 so what is your point?

As usual you don't have one

Boom had started in about '96 in Manchester. And it took off pretty steeply. I know, cos it fecked my grand plan to get onto the property ladder back then.

[sasguru]

Boom had started in about '96 in Manchester. And it took off pretty steeply. I know, cos it fecked my grand plan to get onto the property ladder back then.

Problem with Baggy is he hasn't made a penny out of this boom, but still likes passing himself off as an expert ...

[Bagpuss]

Boom had started in about '96 in Manchester. And it took off pretty steeply. I know, cos it fecked my grand plan to get onto the property ladder back then.

89 to 96, ooh that's 7 years, best part of a decade sorry to SASguru for my gross inaccuracy

[DBA_bloke]

89 to 96, ooh that's 7 years, best part of a decade sorry to SASguru for my gross inaccuracy

Gross indecency, more like.

[sasguru]

89 to 96, ooh that's 7 years, best part of a decade sorry to SASguru for my gross inaccuracy

More like 1990 to 1995. And yes doubling the period of falls to 10 years is a gross inaccuracy.
At least you apologised once you saw your gross mistake though


The fall was only a small proportions of the gains in previous years. And then, like now, those who bought early in the boom, were still laughing after the large falls.
http://www.bized.co.uk/timeweb/diggi...ying_work3.htm