oh dear: House prices falling at fastest rate in 25 years

[AtW]

Given that you believe the land registry prices cannot be trusted

You are confusing trends with exact data - yes I don't think those numbers can be trusted in a way that they mask much bigger falls that will only become apparent on charts after some time. So real price drops are much bigger than shown, this does not mean I don't trust rather obvious downwards trends. Just last year a lot of people on this forum were blabbering about how it's not possible and that at worst the market will stagnate - so much for their predictions.

[AtW]

I was expecting a scientific rebuttal and all I got was a fart

Free tip - stop sniffing butts...

[sasguru]

Banks won't lend as much money as they did in the past until next bubble - this means house prices will be moderated as most people won't get the money to buy them otherwise. Most of those "speculators" don't have cash - this crazy buy-to-let speculation was mostly funded by banks, so that's not going to happen soon.

In fact here is one more insight - as pound is dropping rapidly effectively in 2 weeks it made UK houses 10-12% cheaper than they used to cost. This won't attract buyers though - I think it will just make foreign owners sell as fast as they can as otherwise they get double whammy: cumulative house price losses for those people are now over 25% and they got a lot more to lose.

Excellent, excellent! As I am not relying on mortgage funding, even better news. And foreigners selling. Double excellent.
I reckon when the next boom finally takes off, as it will, it will make me a millionaire (a real one, not a DP one)

[sasguru]

How's SKA doing?

[Gordon Brown]

Please stop worrying

http://news.bbc.co.uk/1/hi/uk_politics/7597276.stm

As I've said above, and I'll repeat it here, Britain is well placed in this Global Downturn thanks to our flexible workforce.

Now, please bend over and show me just how flexible you can be.

Love'n'hugs,

Gordo

[AtW]

I reckon when the next boom finally takes off

Keep your powder dry then - I doubt we will see same house price boom for at least 10 years in this country, probably 15-20. The effect of this crash will be so painful that it will scare a few generations.

[AtW]

How's SKA doing?

Very well.

[sasguru]

Keep your powder dry then - I doubt we will see same house price boom for at least 10 years in this country, probably 15-20. The effect of this crash will be so painful that it will scare a few generations.

Bollux as usual.

Just as the upside is exagerrated so is the downside.
But as you have no experience let me enlighten you. Everyone will predict the end of civilisation as we know it for the next couple of years.
Yet for the majority (say 90%) there will be not much difference, apart from a little belt tightening.
Around 4-5 years from now we will hit the bottom.
From there house prices will start climbing, slowly at first then increasingly fast.
10 years from now we'll have the same moaning about high prices all over again.

[pisces]

OH dear

Yippee.

[AtW]

Bollux as usual.

You say that and then go on to agree with me on approximate timeline:

Around 4-5 years from now we will hit the bottom.
From there house prices will start climbing, slowly at first then increasingly fast.
10 years from now we'll have the same moaning about high prices all over again.