02GF74
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| posted on 10/6/08 at 12:19 PM |
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woo hoo dippidee dee !! that make me happy...
NOT .... house prices are predicted to go down by 20-25 % by end of this year, soldiers killed in afghanistan, fuel tanker dirvers go on strike this
week end, child and pensioner poverty on the increase ......
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paulmw
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| posted on 10/6/08 at 12:21 PM |
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Yoy forgot to add
- £400 road fund license
- Congestion charge in Manchester
- You get stabbed if you walk the streets
the list is endless
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Alan B
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| posted on 10/6/08 at 12:33 PM |
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quote:
Originally posted by 02GF74
NOT .... house prices are predicted to go down by 20-25 % by end of this year, soldiers killed in afghanistan, fuel tanker dirvers go on strike this
week end, child and pensioner poverty on the increase ......
Trouble is a lot of predictions (if from reputable source) are self fulfilling.....after reading about house prices predicted to drop, how will that
affect your bid on the next house you want to buy?...you certainly won't bid high for sure...nor will anybody.....and hence the prices will
drop...IMO
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smart51
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| posted on 10/6/08 at 12:53 PM |
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At the risk of a back lash, I'm going to say that a fall in house prices is a good thing. They are far too expensive. It is almost impossible
for a first time buyer to buy a house and everyone else is paying too much of their income on their home.
Think about it this way. Few people will actually lose anything. Years ago, you bought a house. You still own that house. Years from now,
you will still own the house. Your "richness" hasn't changed. You will own a house. You took out a mortgage which you will
eventually pay off. You will own the house outright. The theoretical sale value of the house is not important unless you plan to move. Given that
most people bought their house before prices rose to last year's peak, a percentage drop means that the current sale value will be a nearer to
what you paid. So what?
The only "losers" are people who bought their house in, say, the last 3 years. Prices will drop a little below what they paid for their
house. The "trade in value" of their house will be a bit less than the value of their mortgage. Even that's not the end of the
world. You will continue to pay the mortgage you agreed to, the balance of the mortgage will slowly go down. House prices will probably pick up. A
few years from now, you can sell the house if you want to and the negative equity will go away.
Rising house prices are not a good thing. A correction in house prices is a good thing. Don't believe what they write in news papers. They
take the facts and twist them into a story. It doesn't mean that their opinions are right.
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02GF74
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| posted on 10/6/08 at 01:03 PM |
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apparently, & I cannot recall the exact number but something like 17,000 mortgages for 100% were taken in the last 3 months and those people are
already in negative equity.
..... on a slightly different track, those that rememebr the housing marked crahs in late 80s - what cause the slump to end?
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coozer
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| posted on 10/6/08 at 01:17 PM |
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Who can remeber the mortgage rate going up to 17% and people like ME loosing there houses?? Tories for ya there, now then,
I cannot wait for the country to run out of fuel so the roads will be git quiet. Kids will have to walk to school and I can stay in bed all day
Thats labour for ya.
This country is doomed...
Result.
[Edited on 10/6/08 by coozer]
1972 V8 Jago
1980 Z750
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coozer
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| posted on 10/6/08 at 01:21 PM |
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quote:
Don't believe what they write in news papers. They take the facts and twist them into a story. It doesn't mean that their
opinions are right.
Is that global warming your on about there??
1972 V8 Jago
1980 Z750
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