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How far will Sheffield house prices drop?

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Consequently demand is lower and the value of housing is falling.

I don't have a problem, this isn't about me, you have a problem (a house you can't sell), but it's not even about you, it's about the larger picture, which you are very keen to ignore.

 

I dont have a house that that I cant sell - I have a house that I havnt sold YET,

 

and that there is where your wrong

 

demand is lower and therefore the price has fallen, I would agree 100% the point where your wrong is that prices will continue to fall indefinatly, thats as mad as saying they will always rise year on year.

 

you seem just as keen to ignore the bigger picture so heres a fact for you -

 

if you want to buy a 4 bed house on the estate where we live ( and BTW you actually do want to live on this estate - you said so) then theres only 2 for sale, mine and the one near the shop. Not much supply there to meet the demand when the money is released now is there.

 

I can therefore dictate the price I sell mine for.

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I dont have a house that that I cant sell - I have a house that I havnt sold YET,

 

and that there is where your wrong

 

demand is lower and therefore the price has fallen, I would agree 100% the point where your wrong is that prices will continue to fall indefinatly, thats as mad as saying they will always rise year on year.

 

you seem just as keen to ignore the bigger picture so heres a fact for you -

 

if you want to buy a 4 bed house on the estate where we live ( and BTW you actually do want to live on this estate - you said so) then theres only 2 for sale, mine and the one near the shop. Not much supply there to meet the demand when the money is released now is there.

 

I can therefore dictate the price I sell mine for.

 

 

You will sell your house for what you ask,its just a question of when,while ever the scaremongers are preaching people with the money(and there is plenty,4 billion pound put in savings accounte last month)not to spend and this and that is coming down people won't spend to the extreme what is normal,this is why things with high values,houses and cars are dropping in price.

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I dont have a house that that I cant sell - I have a house that I havnt sold YET,

 

and that there is where your wrong

 

demand is lower and therefore the price has fallen, I would agree 100% the point where your wrong is that prices will continue to fall indefinatly, thats as mad as saying they will always rise year on year.

I've never said that. I think they'll fall for between another 6 and 12 months.

 

you seem just as keen to ignore the bigger picture so heres a fact for you -

 

if you want to buy a 4 bed house on the estate where we live ( and BTW you actually do want to live on this estate - you said so) then theres only 2 for sale, mine and the one near the shop. Not much supply there to meet the demand when the money is released now is there.

No, I'm pretty sure that I didn't.

I don't know where you live for a start, and wherever it is, it's unlikely I've said I want to live there, as there's nowhere specific that I want to move to. I'm sure I'd know if there was (since it would be my thought).

If I had to choose somewhere to move to right now, off the top of my head, I might go for Ulley. Do you live in Ulley?

 

I can therefore dictate the price I sell mine for.

 

Ermm, no, you can set a price, but you can't make anyone pay it.

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You will sell your house for what you ask,its just a question of when

Undoubtedly it will sell eventually. It could be in 5 years time though.

while ever the scaremongers are preaching people with the money(and there is plenty,4 billion pound put in savings accounte last month)not to spend and this and that is coming down people won't spend to the extreme what is normal,this is why things with high values,houses and cars are dropping in price.

The car market has fallen off a cliff just as the housing market has. People aren't spending because we're entering a recession, and people aren't buying houses because they can't get mortgages anymore.

4 billion in savings is an average of £66/person. It's not a huge amount when the average level of debt (excluding mortgages) is in the thousands. Personal debt in the UK is worth trillions, compared to the billions of savings.

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Undoubtedly it will sell eventually. It could be in 5 years time though.

 

The car market has fallen off a cliff just as the housing market has. People aren't spending because we're entering a recession, and people aren't buying houses because they can't get mortgages anymore.

4 billion in savings is an average of £66/person. It's not a huge amount when the average level of debt (excluding mortgages) is in the thousands. Personal debt in the UK is worth trillions, compared to the billions of savings.

 

The £4 billion as been put into savings over the last month,if we can save £66 per person in the current climate is it really that bad?

It could be 1 month 1 year or 10 years when the house sells at the price he wants,if not desperate he will eventually get the price he wants.

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We're not saving £66/month/person.

 

The majority of people aren't saving.

 

Savings: The number of people who are regularly saving money each month has fallen to below half of the population (47%), compared with 58% in autumn 2006..

The Yorkshire Building Society have estimated that the average Briton’s savings would only last 52 days if they were unable to work and that 36% of Britons would only last 11 days.

The savings ratio, which measures how much households put away for a rainy day, more than halved in the first quarter of 2008 to 1.1% which is the lowest level for 60 years. This weakening reflects a fall of 1% in real household disposable income.

The old adage of having “rainy day savings” appears to be a thing of the past, with one in six people (16%) having to rely on credit to fund basic household breakdowns. 45% say they could afford no more than £500 if an emergency arose and 20% said they could afford no more than £100, according to research from Alliance & Leicester.

 

Average household debt in the UK is ~ £9,740 (excluding mortgages). This figure increases to £22,190 if the average is based on the number of households who actually have some form of unsecured loan.

 

Striking numbers

£1m every 8 min -- growth in UK debt in 2008

£207m -- daily increase in UK debt

£59,715 -- average household debt (including mortgages)

£263m -- interest paid in UK daily

121 -- properties repossessed daily

1 person every 4.8 minutes -- declared bankrupt or insolvent

£91 - average daily decrease in house prices since Dec 2007

 

Citizen Advice Bureaus dealt with 4,760 debt problems every day during the last 12 months

The proportion of people spending over 30pc of their monthly income on unsecured debt re-payments has doubled over the past year

The number of people who spend more than they earn each month has risen to nearly 5.3 million according to Legal and General.

Money Education / Financial Literacy: A high number of people regularly fail to budget effectively each month resulting in 64% of people running out of cash on average 5 days before their next pay cheque.

 

Full article here

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£3.9 billion was put into saving accounts over the last month so someone is saving,no one said everyone was saving,Cyclone quoted it added up to £66 per person............

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£3.9 billion was put into saving accounts over the last month so someone is saving,no one said everyone was saving,Cyclone quoted it added up to £66 per person............

 

The Icesave situation might have had an impact on how much cash was put into savings accounts last month. There was about £3billion paid back and im guessing most of this would have been ploughed straight back into (British based) savings accounts. Icesave could have caused an anomaly with this figure in that a large amount of the cash was in reality transferred rather than actually put aside from wages etc. Might not be this of course but I guess it's a possibility.

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The Icesave situation might have had an impact on how much cash was put into savings accounts last month. There was about £3billion paid back and im guessing most of this would have been ploughed straight back into (British based) savings accounts. Icesave could have caused an anomaly with this figure in that a large amount of the cash was in reality transferred rather than actually put aside from wages etc. Might not be this of course but I guess it's a possibility.

 

Could be 50 lottery winners?no one knows who's saving but fact is £3.9 billion went into uk saving accounts.

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Could be 50 lottery winners?no one knows who's saving but fact is £3.9 billion went into uk saving accounts.

 

This figure is an anomaly IF the majority of the cash was from ex-icesave customers. If so it isn't an amount that was saved last month at all. It is a strong possibility as the ex-icesavers wanted to move their cash into savings accounts ASAP as they lost a certain amount of interest and a very good interest rate. They were/are going to want to reinvest ASAP and the majority got their cash back last month...............

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in the context of the original post (which you didnt quote as it would make your "one liner" look stupid) more clue than you if you think inflation actually relates to pricing

 

the retail price index is indeed a true measure of inflation.

so in fact inflation and pricing are very much part and parcel with one another...

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in the context of the original post (which you didnt quote as it would make your "one liner" look stupid) more clue than you if you think inflation actually relates to pricing

 

the retail price index is indeed a true measure of inflation.

so in fact inflation and pricing are very much part and parcel with one another...

 

 

how`d you work that out? the RPI as a measure of inflation has nothing to do with inflation itself now has it, or is the fact i measure my waist in inches the reason I`ve gone up two sizes last night?

 

anyway back to inflation - or not in this case, indeed do they not release two sets of figures - one with housing and one without?

 

my point still stands, its simply foolish comment to say " object A HAS to be this price because years ago it was £NN.NN and since then inflation has been ..."

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