Why do papers make out its sad news when the most expensive thing you'll ever buy ...

[sunnysan]

Somebodies going to get hurt?

Well if pain is shared like love then a lot of people will get hurt.

a) People who have overextended for a home.
Tough but, then you shouldnt have overextended yourself. It can go up and can go down.

b) Overextended BTL landlords.
Tough tulip, you play, sometimes you win , sometimes you lose.

c) Tenants
As Landlords go bellyup, this is going to cause a lot of grief for tenants as most IME, ASTs dont protect tenants much against the landlords, who go belly up. At the end of the day, the tenants on AST will always get shafted.

d) People who have had their house for < 8 years who want to move.
For reasons mentioned in a pevious post

e) Property pensions, looking to cash in on retirement and close to retirement.
Sorry chaps, but probabably still better than endowments

f) People who have investments in property and their primary home, are stable have been paying off for 10 years+ and have been fiscally responsible.
They will be worth less on paper, no big deal.

[filthy1980]

Ahh the -ve equity chestnut.

Don't worry folks. When hyper-inflation kicks in over the next 2 years - after BoE has completed flooding the market with its 'money from thin air', you'll be able to pay your mortgage off with pocket change.

Although you may then have to trade it to a baker for half of his £1,000,000 loaf of bread.

hallelujah!!!

someone who understands how the financial systems works

[Ignis Fatuus]

So what?

The only people who lose out are those who bought at the top end of the market and contributed to the housing bubble by buying at inflated prices with low deposits.

I have zero sympathy for these people.

So still no problem as far as Im concerned.

You asked why people cared about dropping house prices, I told you why people care. You may not care about those people but that is another question.

And may I ask, what should someone do who needs a house when the price happens to be high? Also, what size of deposit would you say is not too low?

[ItsQuickerAntiClockwise]

You asked why people cared about dropping house prices, I told you why people care. You may not care about those people but that is another question.

And may I ask, what should someone do who needs a house when the price happens to be high? Also, what size of deposit would you say is not too low?

20% deposit minimum.

Question asked. Question answered.

[Jeebo72]

becomes cheaper?

I don't know too many people who would bemoan the fact that a house cost them £200,000 instead of £250,000.

Yet if you read the papers we should all be crying into our cornflakes.

Ok so you bought your house for 250,000 on a 95% mortgage. have a kiddie. Then you lose your job. Your house is now worth 200,000. Check mate...

[MaryPoppins]

Can we have a 'Don't Feed The Troll' smiley?

[ItsQuickerAntiClockwise]

Ok so you bought your house for 250,000 on a 95% mortgage. have a kiddie. Then you lose your job. Your house is now worth 200,000. Check mate...

Oh Im sorry, for a minute there I thought I was supposed to feel sorry for the idiot who bought at the top end of the market with just a 5% deposit. But Im sure you can't have meant that, since anyone that stupid deserves to suffer the consequences.

And Im sorry but I mean that. When he was desperate to get on board the housing ladder at any cost because of the 'gold rush' do you think he was sparing any thought for those who couldnt get on the ladder and realised that it wasn't prudent to do so. He didnt lose any sleep over first time buyers predicaments which were made worse by these morons buying into an overinflated housing system thus propping it up, so when the shoes on the over foot, don't expect any sympathy from me.

[sasguru]

Can we have a 'Don't Feed The Troll' smiley?

We have one:

[MaryPoppins]

<blah, lack of punctuation as per, blah>

so when the shoes on the over foot, don't expect any sympathy from me.

'other'

[ItsQuickerAntiClockwise]

'other'

The T and H buttons on my keyboard aren't working.