House price thread poll

[minsky1]

Hold your nerve - many of the houses coming onto the auction market now are lemons which wont sell for near purchase value, or market value come to think of it ....

Cant remember what the formula used to be, but if your in a position where you need to sell and you get a low offer, the mortgagees wont allow the sale to proceed unless its above certain percentage of the loan value ... anyone remember what % this was?

Once reposessed, there is no restriction, and the defecit is reclaimed from the party in default.

ahhhh, those were the days ...... bring back the gavel hammer bashing .....

[DimPrawn]

House prices will be on the way up again within a year. Cash rich investors are already snapping up bargains and the banks have been told to lend by HMG. Interest rates are on their way down, inflation is on the way down, and this is a good thing.

Boom, boom and boom after 2010 !!!

idiots



overpriced houses



up

[Cyberman]

So far no sign of many 100% mortgages though. Alot of first-timers will struggle to save the £15+k needed for a 10% deposit.

True, but anybody buying my house will not be a first-time buyer, but somebody that probably has equity in their own house.
I have bought two houses in my life, and even for my first one I had a 20% deposit.... on my second I had 30% equity. Personally, I think it is sensible that people always put some of their own money or equity into a purchase to show commitment, and to stabilise the market.

[BrilloPad]

House prices will be on the way up again within a year. Cash rich investors are already snapping up bargains and the banks have been told to lend by HMG. Interest rates are on their way down, inflation is on the way down, and this is a good thing.

Boom, boom and boom after 2010 !!!

So far no sign of many 100% mortgages though. Alot of first-timers will struggle to save the £15+k needed for a 10% deposit.

[Cyberman]

House prices will be on the way up again within a year. Cash rich investors are already snapping up bargains and the banks have been told to lend by HMG. Interest rates are on their way down, inflation is on the way down, and this is a good thing.

Boom, boom and boom after 2010 !!!

[BrilloPad]

It is hard to tell until the repossesions start to properly come in over 2009.....

[expat]

Once unemployment kicks in reposessions will rise. Banks will be left with properties they want to get rid of quickly, the run of the mill properties will be auctioned off, driving prices down.

Just like in the mid 90's....

And the former owners will become council tenants, so councils will have to look for a lot of new rental properties.....

[TykeMerc]

Once unemployment kicks in reposessions will rise. Banks will be left with properties they want to get rid of quickly, the run of the mill properties will be auctioned off, driving prices down.

Just like in the mid 90's....

Pretty much my conclusion too.

An awful lot of people mortgaged to the max before the current turmoil so will not be able to service their debts in the longer term, I won't be at all surprised to see the US toxic debt problem replicated here with bankruptcies and reposessions in sizable numbers.

[minsky1]

Once unemployment kicks in reposessions will rise. Banks will be left with properties they want to get rid of quickly, the run of the mill properties will be auctioned off, driving prices down.

Just like in the mid 90's....

[Old Greg]

abyss, but that's what I'm going for.

[Bear]

Vote now.

How?

[DimPrawn]

Vote now.