House sales down 40pc since property boom

[SimonMac]

Why is the economy linked to housing SALES? Why is there never mention of the booming rental market out there?

[oracleslave]

Not sure what you talking about ...

Apologies, I thought you had graduated from that bedsit in Brum to a detached house.

[AtW]

Apologies, I thought you had graduated from that bedsit in Brum to a detached house.

No I am still renting a flat for tactical reasons

[BrilloPad]

Why is the economy linked to housing

It is the only thing we have left economy wise.

[SimonMac]

It is the only thing we have left economy wise.

If the people I talk to on Facebook or Twitter are anything like representative of the country as a whole their is an underground economy of cupcake makers who should be paying HMRC!

[oracleslave]

No I am still renting a flat for tactical reasons

A 10 year tactical solution?

[OwlHoot]

You really don't get it do you?

Prices only fall massively if people are FORCED to sell at a loss. And since the banks are letting people take payment holidays and extend the mortgage period rather than default to protect their balance sheets, who is going to sell at a loss?

People selling bequeathed properties, where insufficient funds are otherwise available to pay death duty?

[SimonMac]

People selling bequeathed properties, where insufficient funds are otherwise available to pay death duty?

And law's of average would state most of the people dying would be of an older generation who's houses are already paid off

[Old Hack]

People selling bequeathed properties, where insufficient funds are otherwise available to pay death duty?

I have a bungalow I was going to sell. It was going to be marketed at offers £300-325k. A similar, if somewhat dated, bungalow came on at 300k, within month was at 275, then offers over 250 which it finally sold for. This was a bequeathed property where the kids just wanted the money. Killed stone dead the local market as everyone who was selling houses all pulled out.

It really does affect a local market.

A friend has also sold his house, for a fair price he assures me, and now finds out the amount he will be loaned for the new house, has been reduced.

Starting to squeeze out there.

[AtW]

A 10 year tactical solution?

14.