Reply to: House prices 'could fall by further 55 per cent'

[Sysman]

If so, why is every home called "a great investment" and living there is all about "adding value".?

A story about selling my first house. The estate agent was moaning at me that I "hadn't done anything" to my house. Well no, I hadn't lashed out on double glazing, new central heating, new kitchen and bathroom, a garage etc, but when I compared it with the house half a dozen doors away who had done all that, they probably hadn't made a penny on their "added value". Granted, they'd had the use of the extras and their's sold in days where mine took a couple of months, but quids in they were not.

[Doggy Styles]

What do you Mean?

I think he's in awkward Mode

[DimPrawn]

Yes but which Average?

What do you Mean?

[Foxy Moron]

Yes but which Average?

[Cyberman]

Which Average?

Average of the housing market as a whole throughout the country.

[Foxy Moron]

Which Average?

[Cyberman]

BTLs can fall 80% from stupidly high levels, just the same as shares will during this depression, because they were bought on the same principle of shares on the rise, without any thought to sustainability, but purely for profit.
However, larger properties that are not 'ten a penny' will not fall by this amount at all. I predicted an AVERAGE 30% drop throughout the market, and I will stick to that now that demand is picking up.

[AlfredJPruffock]

Only 55%? I wonder why the papers are printing such optimistic stories.

7 days to go ...

I know you think I'm awfully square
But Ive met everyone and Ive been everywhere

Lord - I'd take an overdose
If they knew whats going down

[d000hg]

If so, why is every home called "a great investment" and living there is all about "adding value".?

Oh, maybe then. I only watched it a couple of times... rather watch proper greed/stupidity in Property Ladder or lunacy in Grand Designs.

[threaded]

Only 55%? I wonder why the papers are printing such optimistic stories.

7 days to go ...

[DimPrawn]

But isn't that particular program about finding your dream/long-term house? I.e it's not the same as Property Ladder which is purely about making money and has mysteriously disappeared from our screens.
Actually, I don't recall More4 showing old Property Ladder repeats any more unlike Grand Designs which is on heavy repeat. Maybe they reckoned it might not be popular to remind everyone how screwed they are

If so, why is every home called "a great investment" and living there is all about "adding value".?

[d000hg]

Yes, I bet they're enjoying the negative equity which has wiped out their hard saved deposit and means they cannot move now for years to come.

Good advice from the property geniuses there.

But isn't that particular program about finding your dream/long-term house? I.e it's not the same as Property Ladder which is purely about making money and has mysteriously disappeared from our screens.
Actually, I don't recall More4 showing old Property Ladder repeats any more unlike Grand Designs which is on heavy repeat. Maybe they reckoned it might not be popular to remind everyone how screwed they are

[DimPrawn]

That was filmed in 2006.

Yes, I bet they're enjoying the negative equity which has wiped out their hard saved deposit and means they cannot move now for years to come.

Good advice from the property geniuses there.

[chicane]

I saw Kirsty and Phil on TV last night, urging some thick gullible buyers to "jump in quick, this property won't be on the market for long!"

That was filmed in 2006.

[ziggy]

I think the market will resist falling below a certain level. Most people will just stay put and not put their houses on the market if it means they are going to lose all of their equity ... which eventually should cause a drop in supply ... and 'cause interest rates are so low and all the pent up demand of people waiting to buy ... we could see prices starting to rise again.

Please let it be true ...