Reply to: When do you start losing from the falling house prices ?

[hugebrain]

Ummmm, let's see, never.

I think you'll find that low prices are good and high prices are bad (works for all shopping, not just houses).

[PAH]

I have been following a bit but how long have you been warming the bench again ?

Since easter really. As I got mullered when I had a C# technical test as part of a telephone interview recently, I'm trying to stick to VB.Net oriented roles, which are few and far between at the moment.

ps. how was the drive down South the other Friday, I got stuck behind a crash on the M6 in Cheshire !? ( assuming I've got the right person )

It was suprisingly clear. Set off about 3.45pm and had a good run averaging 90 (kmh of course, officer ) most of the way. I avoided the M60 around manchester on EternalOptimist's advice.

Only problem was a 15 minute delay on the M6 southbound just south of Preston due to an earlier accident. May be the same delay you got stuck in. I noticed there seemed to be a massive tailback (a good 5-10 miles) on the north bound side.

Worse thing was deciding to use the M6 toll thinking it was still £3.50 (the permanent sign on the M6 said so), only to find it was £4.50 at the actual toll gates. Thieving twats.

[dang65]

They knew the risk of rising rates, which is why they went fixed rate in the first place. What's worse is they've had plenty of time to see the situation develop and should have made contingency plans to cover the pending rise in costs.

Well, I guess a lot of us did foresee rising rates and that's why we took the fixed rate mortgage, which has saved a lot of money over the last couple of years.

People will always moan if they suddenly have to pay more. It doesn't mean that they can't or that they weren't prepared, just that no one likes to pay more.

It's like saying that people have had plenty of time to make contingency plans for the rise in oil prices. Those prices are never going to go down again, and will only continue to rise. But it doesn't seem to be stopping people from moaning.

[rootsnall]

This comment comes from someone who has no mortgage. No savings. No money. No job. No girlfriend. So I won't laugh, but you can if it helps.

Thanks, caused a coffee laced splutter ! I'm in a new fairly straight laced and quiet office, luckily with good internet access, starting to get a few looks when I chuckle.

I have been following a bit but how long have you been warming the bench again ?

ps. how was the drive down South the other Friday, I got stuck behind a crash on the M6 in Cheshire !? ( assuming I've got the right person )

[PAH]

I'm tired of hearing people moan about their fixed rate mortgages coming to an end, and how they're going to get stung with much higher mortgage costs.

They knew the risk of rising rates, which is why they went fixed rate in the first place. What's worse is they've had plenty of time to see the situation develop and should have made contingency plans to cover the pending rise in costs.

This comment comes from someone who has no mortgage. No savings. No money. No job. No girlfriend. So I won't laugh, but you can if it helps.

[dang65]

For some people, like me , the loss comes in the fact that there are suddenly no buyers.

My eldest son is about to finish education and start work, and one of my others is about to move from primary to secondary school. And our fixed rate mortgage ends in December. So, we've known for ages that this year would be the ideal time for us to sell up. We're not trying to make some kind of financial killing, just to move to a more suitable house in a different area.

Cue collapse of mortgage sector, and even buyers with cash sitting back to see what happens

Sorry about that everyone.

[DimPrawn]

Infinity.

Actually, over 1/2 infinity it's pretty good too.

[Xenophon]

over what timeframe?

Infinity.

[BrilloPad]

With property you never lose.

HTH

over what timeframe?

[DimPrawn]

Watching CNN last night, the US is a real mess.

Apparently overstretched Mortgagees, payed off the mortgage by releasing equity from house price increases, then start applying for credit cards. In the US the average number of credit cards is 5; now they're all maxed out, the whole thing is imploding. The next crisis is in credit cards.

In the UK, mortgage approvals are heading to zero, but "unsecured" credit (loans and credit cards) is going through the roof.

Robbing Peter to pay Paul.

D O O M E D !

[BlasterBates]

Watching some German news programme last night, the US is a real mess.

Apparently overstretched Mortgagees, payed off the mortgage by releasing equity from house price increases, then start applying for credit cards. In the US the average number of credit cards is 5; now they're all maxed out, the whole thing is imploding. The next crisis is in credit cards.

[Sockpuppet]

The only people that are "losing" from property are those that thought the houses were "making" then £150 a day in the past.

[ratewhore]

When I can't afford to live in my house. After all, I don't treat it as an investment but as my home...

[neilawuk]

you lose the day you have to sell at a loss.....

[Xenophon]

With property you never lose.

HTH

WHS

Gold dust.