We need a housing crash ...

[sasguru]

... just imagine all that luverly property to be hoovered up. Yum Yum.

edit: sp.

[RedSauce]

... just imagine all that luverly property to be hovered up. Yum Yum.

I think there will be one in the not-too-distant future.

[sasguru]

Let's hope so - let's face it, it'll make everything better for everyone, except zombie borrowers who've borrowed at the limit. And even they will be forced to make better decisions about their life.

[NorthWestPerm2Contr]

SAS, I think you are forgetting that we have 2 markets in the UK - London/South East and the rest of the UK. Prices are still dropping for the rest of the UK and houses are finally a lot more affordable. I have spoken to a few friends of mine in London recently, one of them spoke to me about how every time he saw a property which had just gone on market on the outskirts of London, he would call the agent only to be told it was already sold.

The problem in London is that there is simply too much demand and supply shows no sign of catching up.

[Old Hack]

SAS, I think you are forgetting that we have 2 markets in the UK - London/South East and the rest of the UK. Prices are still dropping for the rest of the UK and houses are finally a lot more affordable. I have spoken to a few friends of mine in London recently, one of them spoke to me about how every time he saw a property which had just gone on market on the outskirts of London, he would call the agent only to be told it was already sold.

The problem in London is that there is simply too much demand and supply shows no sign of catching up.

Indeed, plus the help for homes will have pushed up the prices for the next 3-5 years. Spoke to a Barratt homes man yesterday at daughters triathlon who said they've sold 10% more houses year on year.

No government can allow a crash, and any thoughts otherwise would be insane. Why, otherwise, did they bail the banks out, and are now bailing the housing industry out with these feckless ideas. Oh no, no crash for a long time; I've been reading about them for many years. The only way they would happen, in this country If we get a systematic collapse in the economy, for no government will allow it on their watch. If we have a systematic collapse in the economy, people in large houses with lots of dosh will not be sat on it for long...

[RedSauce]

SAS, I think you are forgetting that we have 2 markets in the UK - London/South East and the rest of the UK. Prices are still dropping for the rest of the UK and houses are finally a lot more affordable. I have spoken to a few friends of mine in London recently, one of them spoke to me about how every time he saw a property which had just gone on market on the outskirts of London, he would call the agent only to be told it was already sold.

The problem in London is that there is simply too much demand and supply shows no sign of catching up.

The problem is the government and the estate agents reporting that house prices will never fall in London and the South East whilst trying to get everyone to buy. Whereas in reality, we are not in a recovery we are in a relapse, normality has not been resumed from the last crash and prices are still for too high. With job cuts in the city, wages not rising in real terms, bonuses being cut, I think a correction is due shortly.

[hyperD]

The problem is the government and the estate agents reporting that house prices will never fall in London and the South East whilst trying to get everyone to buy. Whereas in reality, we are not in a recovery we are in a relapse, normality has not been resumed from the last crash and prices are still for too high. With job cuts in the city, wages not rising in real terms, bonuses being cut, I think a correction is due shortly.

I think you could be right. I've got enough equity in the house to sell at a 50% devaluation to break even but enough rooms to get in some Mon-Fri lodgers in case of emergencies. It's almost like my pension and about the only thing I managed to salvage from my divorce.

[O/T - RedSauce, bought some of that Blue Mountain coffee online - really, really nice - many thanks!]

[BrilloPad]

I think there will be one in the not-too-distant future.

rofl.

No way! That would prick the bubble. The only way is to keep inflating it. Hyper inflatiion here we come.

Just borrow as much as you can and spend it on assets. You will never have to pay off your loans anyway.

[DimPrawn]

rofl.

No way! That would prick the bubble. The only way is to keep inflating it. Hyper inflatiion here we come.

Just borrow as much as you can and spend it on assets. You will never have to pay off your loans anyway.

Can I spend mine on asses instead?

[scooterscot]

And you need a lobotomy - but that's just the way of the world for you.