Reply to: oh dear: House prices falling at fastest rate in 25 years

[oracleslave]

That's exactly why I have a nice stash.

large tache

[sasguru]

A permie that shops at Asda and drives an Aygo. You get 3 guesses....

That's exactly why I have a nice stash.

[oracleslave]

How big's your STR fund?

A permie that shops at Asda and drives an Aygo. You get 3 guesses....

[sasguru]

Well done.

How big's your STR fund?

Almost as big as DP's

Actually that should read nowhere as big as DP's fantasy fund.

[KentPhilip]

Excellent, excellent! As I am not relying on mortgage funding, even better news. And foreigners selling. Double excellent.
I reckon when the next boom finally takes off, as it will, it will make me a millionaire (a real one, not a DP one)

Well done.

How big's your STR fund?

[sasguru]

You say that and then go on to agree with me on approximate timeline:

It was this quote that I called bollux. And it contradicts the timeline no?

"The effect of this crash will be so painful that it will scare a few generations"

[AtW]

Bollux as usual.

You say that and then go on to agree with me on approximate timeline:

Around 4-5 years from now we will hit the bottom.
From there house prices will start climbing, slowly at first then increasingly fast.
10 years from now we'll have the same moaning about high prices all over again.

[pisces]

OH dear

Yippee.

[sasguru]

Keep your powder dry then - I doubt we will see same house price boom for at least 10 years in this country, probably 15-20. The effect of this crash will be so painful that it will scare a few generations.

Bollux as usual.

Just as the upside is exagerrated so is the downside.
But as you have no experience let me enlighten you. Everyone will predict the end of civilisation as we know it for the next couple of years.
Yet for the majority (say 90%) there will be not much difference, apart from a little belt tightening.
Around 4-5 years from now we will hit the bottom.
From there house prices will start climbing, slowly at first then increasingly fast.
10 years from now we'll have the same moaning about high prices all over again.

[AtW]

How's SKA doing?

Very well.

[AtW]

I reckon when the next boom finally takes off

Keep your powder dry then - I doubt we will see same house price boom for at least 10 years in this country, probably 15-20. The effect of this crash will be so painful that it will scare a few generations.

[Gordon Brown]

Please stop worrying

http://news.bbc.co.uk/1/hi/uk_politics/7597276.stm

As I've said above, and I'll repeat it here, Britain is well placed in this Global Downturn thanks to our flexible workforce.

Now, please bend over and show me just how flexible you can be.

Love'n'hugs,

Gordo

[sasguru]

How's SKA doing?

[sasguru]

Banks won't lend as much money as they did in the past until next bubble - this means house prices will be moderated as most people won't get the money to buy them otherwise. Most of those "speculators" don't have cash - this crazy buy-to-let speculation was mostly funded by banks, so that's not going to happen soon.

In fact here is one more insight - as pound is dropping rapidly effectively in 2 weeks it made UK houses 10-12% cheaper than they used to cost. This won't attract buyers though - I think it will just make foreign owners sell as fast as they can as otherwise they get double whammy: cumulative house price losses for those people are now over 25% and they got a lot more to lose.

Excellent, excellent! As I am not relying on mortgage funding, even better news. And foreigners selling. Double excellent.
I reckon when the next boom finally takes off, as it will, it will make me a millionaire (a real one, not a DP one)

[AtW]

I was expecting a scientific rebuttal and all I got was a fart

Free tip - stop sniffing butts...