What's the housing market like at the moment?

[SimonS 10]

You will find that certain places in the country have fallen. Areas in Salford have fallen as houses are boarded up and others in an area demolished so yes some have fallen over the last 10 years.

 

So is anyone actually buying or selling in Sheffield at the mo??? Are people starting to put in offers much lower than the sellers are asking?

[Cyclone 10]

Do you want an award for copying every story told in the newspapers? It is fair to say on average prices are falling around the country so at the other end of the spectrum some are not.

 

There is no other end of the spectrum.

If the average is falling then that's what's happening.

Obviously it doesn't mean every house, but it certainly doesn't mean that there are some rising that balance out those that are falling.

I post the stories from the newspaper to counter your claims that everything is fine. You then attempt to use some double speak and verbal gymnastics to say that everything is fine in a different way.

[Phylis 10]

There is no other end of the spectrum.

If the average is falling then that's what's happening.

Obviously it doesn't mean every house, but it certainly doesn't mean that there are some rising that balance out those that are falling.

I post the stories from the newspaper to counter your claims that everything is fine. You then attempt to use some double speak and verbal gymnastics to say that everything is fine in a different way.

 

ooh have i hit a nerve?

 

You cant single handedly (or with the help of Sham) change the laws of averages im afraid.

[Cyclone 10]

That's okay, I wasn't trying to. You were trying to redefine them to mean that when the average is falling, just as many are going up as down.

Which we all know is not the case.

 

House prices in S6 have fallen on average 0.7% since last year

There are also plenty of houses in S6 which have gone up in value compared to a year ago.

 

Plenty meaning less than half though (if it's median) or gone up by less than those that fell (if it's a mean), modal wouldn't make much sense in this context so I think we can assume it's not the mode.

 

So, just to recap. The average price in S6 has fallen since last year, and is falling. You're denials that prices are falling in Sheffield is looking rather shaky, no?

[Claret 10]

We're all doomed i tell you!!

 

The US is in a pickle and we will follow! But it's swings and roundabouts. Sit tight, be careful with the cash and as long as you haven't mortgaged yourself up to the hilt, you'll be fine.

 

It all comes out in the wash!

 

Worst case scenario - you lose your house. Don't think I'm underestimating how awful that would be. It would be terrible, especially if you have kids. But then you'll go and rent for a bit, wait for everything to calm down and start again......... only to have another crash 20 years later. Ha ha!

[Phylis 10]

That's okay, I wasn't trying to. You were trying to redefine them to mean that when the average is falling, just as many are going up as down.

Which we all know is not the case.

 

 

 

 

Plenty meaning less than half though (if it's median) or gone up by less than those that fell (if it's a mean), modal wouldn't make much sense in this context so I think we can assume it's not the mode.

 

So, just to recap. The average price in S6 has fallen since last year, and is falling. You're denials that prices are falling in Sheffield is looking rather shaky, no?

 

Prices in Sheffield may well be falling. Helped by the thousands putting their property on the market then having to drop asking prices when they dont sell. All helped along by people preaching the end is nigh.

[sham71 10]

Prices in Sheffield may well be falling. Helped by the thousands putting their property on the market then having to drop asking prices when they dont sell.

 

All helped along by people preaching the end is nigh.

 

Sorry, but thats a pathetic argument. I think you read Chicken Licken too much as a child if you think the economic woes are caused by doom-sayers,

[donkey 10]

Prices in Sheffield may well be falling. Helped by the thousands putting their property on the market then having to drop asking prices when they dont sell. All helped along by people preaching the end is nigh.

 

You've got it the wrong way round. House prices were driven to the ridiculously unrealistic prices they are at now by people 'preaching' that they would continue to go up in value. The adjustment which is just starting will bring them back into line with economic fundamentals, such as average wages.

[Tony 10]

I wouldn't believe it until you see it. As I mentioned a week or so ago I suspect that you'll see new ways of affording them first.

 

Interestingly if you have kept your ear to the news over the last couple of days there seems to be wheels turning. It will be interesting to see what develops.

[sham71 10]

I wouldn't believe it until you see it. As I mentioned a week or so ago I suspect that you'll see new ways of affording them first.

 

Interestingly if you have kept your ear to the news over the last couple of days there seems to be wheels turning. It will be interesting to see what develops.

 

I agree the plan is interesting, but it hasn't worked in America (ie. prices are still falling). I think it is more to stop a massive financial crisis in the whole economy if credit totally dries up.

[Tomataheeed 10]

I agree the plan is interesting, but it hasn't worked in America (ie. prices are still falling). I think it is more to stop a massive financial crisis in the whole economy if credit totally dries up.

 

What is the plan exactly - is the government effectively offering to buy lots of the banks debt ?

[Phylis 10]

What is the plan exactly - is the government effectively offering to buy lots of the banks debt ?

 

Not buy them but swap them