Nick H
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Not at all! I live in Poland! |
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P P
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Not Bovered, neither should most other people be.
House prices are irrelevant unless you are buying or selling. Between buying and selling a house the price can do anything, all that matters is the original purchase price and final selling price.
They are even more irrelevant if you are considering a property that is your home. Unless you are going to give up your home (and live where?), the only price that matters is the price when you cease to need it (and suffle off this mortal coil).
If you are looking to move, then if prices are up or down then it will be up or down for both the property you are buying and the property you are selling - so it is not a major issue in that case either.
People with big houses boast that they are worth hundreds of thousands of pounds - but as they can't actually spend it without selling the house it is a bit meaningless. |
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John H
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as for the drop of 40% as mentioned previously it depended on which area you were living.
We were in the midlands at the time - in a nice area and our prices only dropped by 10%. Yes they did stagnate for a few years afterwards but the money had already been made.
And when we came to sell - just before the next boom we reaped the benefits.
Bought in 1987 -£42500
Sold in 1999 - £92500
Prices in the long run ALWAYS go up!! A proven fact!!
Anyone like to argue that point??? |
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crispy
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if you read the report its a load of rubbish, they didnt take into account other factors, its the media trying to scare us again,
think of it like Bird flu |
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Panos
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Nope.I am renting for the moment and on the way out .Been here 20+ years.Had enough. |
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Indian Princess
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yes..bcz i invested heavily in mines..major improvements etc etc..and i want to be able to claim back what i have put in it when it comes to selling it. |
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Fluffy ♥
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I AIN'T EVEN BOVERED!!!! |
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scottie
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Only if you have to sell during the crash!
Me.......no |
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jack
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the media keep telling us we should be concerned, but only the arthur daley types we see on tv house makeover shows should be.
tv makeover shows encourage and glorify the people who buy houses cheaply, do a shoddy makeover and sell them on quickly at a fat profit.
this is because the government have managed to let wages and house prices get badly out of step.
right now i'm renting, but the first home i ever bought cost £24,500 in 1982, 3 times my income. today the exact same house is £145,000 a ridiculous 10 times my earnings.
it happened before around 1989 when house prices dropped by 40% overnight and the market stayed stagnant for about 4 or 5 years.
actually i hope it happens, its the only way i could afford to buy again |
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mini
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yes it is a worry i don't own my home but remember last time unemployment follows close behind that's why so many lost their homes but if you can keep your job and don't want to sell things will be OK |
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PI
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As someone already has stated; it doesn't much matter if you're not selling. It does matter if you're buying however. Why? Because you'll want to find the bottom of the market before you buy (or at least close to it).
If prices drop and you have the good fortune to be able to buy a property for speculation & investment, it's truly the very best time to do it. Do your research regards rental income first though. If the net income washes against the mortgage, property |
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