House prices 'to recover by 2013'

[Stan.goodvibes]

At current prices the majority of the population simply cannot afford to find 10% of property value as a deposit.

Well hopefully we will see the return of less than 10% deposit. I bought my first flat in London in 95 with only 5% desposit and that was as a contractor.

Given I had saved the 6000 quid required in 6 months while paying 900/month rent it was a bit of no-brainer that I could afford the 400/month mortgage payments.

Once the crunch and recession are over (approx 2012-2015) I would expect that banks will go back to offering lower deposits, cashbacks, and mortgage rate discounts again to attract new buyers into the market...

[TimberWolf]

Can anyone remember what happened after the last house price crash? Did 'they' say rules will be put into place so that it could not happen again, etc?

[alreadypacked]

http://news.bbc.co.uk/2/hi/business/7692814.stm

House prices 'to recover by 2013'

Look out of the window - its a pig squadron.

After peak of 1989 - there were drops until 1992 then flat until 1995. I would be interested if anyone knows when prices hit 1989 levels but reckon it was 1998?

Last night on Dispatches they suggested it would be more like 20 years.

Batten down the hatches

[sasguru]

Can anyone remember what happened after the last house price crash? Did 'they' say rules will be put into place so that it could not happen again, etc?

Yes they did.

[sasguru]

Last night on Dispatches they suggested it would be more like 20 years.

They said that last time too.

This time it's not different (TM)

[BrilloPad]

They said that last time too.

This time it's not different (TM)

So how long do you think before house prices stop falling?
And how long before we see a rise?