Housing Market Dead

[higgins 10]

spoke to a valuer at Blundells today. Said that houses in good area are still fetching the asking price and sometimes a little over, don't expect to sell within a week or expect to get way over the asking price through sealed bids

[BertieBasset 10]

inflation is now under the Bank of England's target of 2%, so it would appear that you are wrong.

 

Expected to peak... Last I heard the BoE were saying it would be 2 years before inflation was under control. So they are likely to stay at 6% for at least that 2 year period.

[Cyclone 10]

inflation is now under the Bank of England's target of 2%, so it would appear that you are wrong.

 

Bloomberg reported today.

 

So it would appear that you are as I was perfectly correct in what I said on the 9th, as at the time that is what the BoE had said.

[Sarah1982 10]

My flat goes on the market next week, so fingers crossed the market isnt dead! ive found a house i want already.

[BertieBasset 10]

this is what you said "So they are likely to stay at 6% for at least that 2 year period", what complete rubbish, you really show your ignorance in what you write

 

Bloomberg reported today.

 

So it would appear that you are as I was perfectly correct in what I said on the 9th, as at the time that is what the BoE had said.

[Cyclone 10]

I guess I must have shown the BoE's ignorance since I was basing my comment on their prediction about inflation. I presume you've just made a killing on the futures market with your crystal ball predictions?

[Tony 10]

It happens every year at this time which is why you should buy now if you are anting to move. Anything under £250k now will look like a complete bargain in the new year.

 

People keep trying to talk down the housing market in the vain hope that it will somehow make that elusive super duper house a bit more affordable. Well I'm afraid that it never ever happens. If you want it, get it bought as soon as possible!

[BertieBasset 10]

you should take responsibility for the opinion you voiced rather than trying to palm it off onto someone else given that it now looks very inaccurate

 

I guess I must have shown the BoE's ignorance since I was basing my comment on their prediction about inflation. I presume you've just made a killing on the futures market with your crystal ball predictions?

[Cyclone 10]

I don't know what your problem is BB, I quite clearly attributed my comment to the BoE at the time, they had said that it would take 2 years to get inflation under control, and if that were true interest rates would have stayed high.

If you're looking to score points then you've picked the wrong comment as it was based on published statements from the BoE that they have now changed.

[Phylis 10]

It happens every year at this time which is why you should buy now if you are anting to move. Anything under £250k now will look like a complete bargain in the new year.

 

People keep trying to talk down the housing market in the vain hope that it will somehow make that elusive super duper house a bit more affordable. Well I'm afraid that it never ever happens. If you want it, get it bought as soon as possible!

 

I agree completely. Everybody is more interested in going on holiday at this time of the year. Give it a month or so and the market will be back on its feet before the xmas rush.

[DavidRa 10]

I don't know what your problem is BB, I quite clearly attributed my comment to the BoE at the time, they had said that it would take 2 years to get inflation under control, and if that were true interest rates would have stayed high.

If you're looking to score points then you've picked the wrong comment as it was based on published statements from the BoE that they have now changed.

Inflation may be under control but it is highly unlikely that interest rates for mortgages will drop.

The fall out from the USA sub prime market,one or two major lenders have gone bankrupt, is having an impact here and swap rates( what some lenders pay for money) have been rising irrespective of any move in the Bank of England base rate,or Libor (London Inter Bank Offer Rate) another significant rate which is set every 3 months.

Rates have been rising and many lenders have increased rates particularly for fixed rate mortgages.

[sham71 10]

It happens every year at this time which is why you should buy now if you are anting to move. Anything under £250k now will look like a complete bargain in the new year.

 

People keep trying to talk down the housing market in the vain hope that it will somehow make that elusive super duper house a bit more affordable. Well I'm afraid that it never ever happens. If you want it, get it bought as soon as possible!

 

Have you got a vested interest in all this? If you are 'advising' people, advise them to take a look at what is happening in the US at the moment.

 

I've sold up all my properties (and persuaded my father to) the money is sat in the bank earning 6%+ gross (don't have to find tenants or repaint etc, just watch it grow)

 

I can safely say that I wouldn't buy a house at the moment. I was tempted by a house that was on at 265 and was knocked down to 240 - in S11 too - but I just couldn't justify the risk.

 

There is a 'credit crunch' going on across the world and that will mean the end to 7 x salary mortgages, self certification etc. This will lead to a fall in prices.

 

If people want a warning of impending disaster, they have been given one by what is happening in the US. If they chose to ignore it, its not my problem.

 

Tony - if its such a safe bet, can I take it you are out buying properties during this 'lull'?

 

Or are you an estate agent?