Yes it's been a good couple of years

[sasguru]

Plus, no-one is going to bomb them.

Except maybe some blokes form Leeds.

[milanbenes]

apologies for being slow to catch on, are notts and liverpool due to receive a lot of immigrants ?

Milan.

[Bagpuss]

Wrong. The sub-price farce is extending beyond the US housing sector and is already affecting the UK housing market. Banks are no longer able to get their hands on cheap money because liquidity has dried up and inter-bank funding has all but come to a halt... cue Northern Wreck. LIBOR is going up due to this lack of trust between banks. Hence they are unable to offer great deals on mortgages to the same extent they have been doing so over the past several years. This has already seen mortgage approvals come down substantially. Lower mortgage approvals imply less sales, reduced demand and hence falling prices.

Mortgage interest rates are rising even though the BoE is likely to drop the main rate rather than increase it. So there aren't any more great re-mortgage deals out there once all of the current homeowners come out of their low fixed rate deals next year. This next big impact will lead into the final part of the cycle, which is herd mentality, i.e. everyone follows suit and "holds off" on buying, or tries to sell quick, because prices are falling.

In 2015, it will be time to buy again.

Don't get me wrong - I'd love house prices to go up as I have a couple... but you've got to see the truth and not just what you'd like to happen.

There are still people convinced the market will not slump, this is despite interest only loan replayments being more than rental yield on the same property, something that blows the whole demand for housing will keep the market buoyant myth, if this were true how can the above be? Because there is over supply!

The more people continue to ignore the warning signs the worse it will be. I'm seriously thinking of cashing in my chips.

[Bagpuss]

apologies for being slow to catch on, are notts and liverpool due to receive a lot of immigrants ?

Milan.

He was being sarcastic, everyone knows that if a woman offers a man oral sex in Liverpool he does a runner, just the mere mention of the word job