Housing market again, again

[jay66uk]

http://www.economist.com/world/britain/ ... d=11848948

Flats that they bought three years ago for £330,000 ($580,000 at the time) are back on the market for less than £200,000. One was sold at auction recently for just £115,000.

Now that is a little drop, don't you think?

Big reason why house prices haven't dropped yet is that mortgages aren't being offered so people can't buy at any price.

 

[Philbo]

this is an extreme case. House prices are slightly lower not too drastic yet. People are worrying too much.

 

[The Pink Panther]

Are you still saying renting is better than buying?

If you are, you're a mug.

Paying for someone elses mortgage all your life.

 

[Corky]

Overall they are still higher than a year ago in Greater Manchester up to April, even though they did peak last summer.

People are not willing to come down on price and very few houses are being sold.

 

[urmston]

I'm keeping an eye on flat prices in the city centre area. I reckon there will be some good bargains there soon. Prices were dropping even before the credit crunch due to oversupply and housing associations are considering snapping some of them up for social housing.

A mate of mine has seen the price of his flat near the Cornerhouse dip badly recently when he had it valued.

 

[foley87]

i am an estate agent

people keep going mad about how prices are dropping so much but all they ever quote are flats...flats were always gonna be the first to drop..theres too frickin many of them..serves people right for buyin em...

the creditc crunch is jus like sars, bird flu any others? if people just got on with life then it would all simply go away

wouldnt mind but the govt dont effin help..yesterday saying they were lookin into the possibility of scrapping stamp duty for a short while..oh well done..who i ntheir right mind will buy a house over stamp duty now if they can wait 3/6 months and possible save a grand or 2..fuckin stupidity

 

[The Pink Panther]

i am an estate agent

people keep going mad about how prices are dropping so much but all they ever quote are flats...flats were always gonna be the first to drop..theres too frickin many of them..serves people right for buyin em...

the creditc crunch is jus like sars, bird flu any others? if people just got on with life then it would all simply go away

wouldnt mind but the govt dont effin help..yesterday saying they were lookin into the possibility of scrapping stamp duty for a short while..oh well done..who in their right mind will buy a house over stamp duty now if they can wait 3/6 months and possible save a grand or 2..fuckin stupidity

I bought my first house in 1992 when the Government of the day suspended stamp duty to try and get the housing market moving. Whether they suspended stamp duty or not we were going to buy, so all it did (and I'm not complaining) is save me £450.
All people are interested in is stability. If interest rates stay the same and there's very little possibility of them moving upwards and the BOE formerly state this, everyone will gain confidence, people will want to buy and banks will start lending money again.

 

[mat]

i am an estate agent

people keep going mad about how prices are dropping so much but all they ever quote are flats...flats were always gonna be the first to drop..theres too frickin many of them..serves people right for buyin em...

the creditc crunch is jus like sars, bird flu any others? if people just got on with life then it would all simply go away

wouldnt mind but the govt dont effin help..yesterday saying they were lookin into the possibility of scrapping stamp duty for a short while..oh well done..who i ntheir right mind will buy a house over stamp duty now if they can wait 3/6 months and possible save a grand or 2..fuckin stupidity

I rather say i'm a rag than an estate agent mate...

 

[The Fat el Hombre]

Just hope I've got a decent enough deposit saved for when they bomb out

 

[TheMightyQuinn]

I made a tidy profit on my little flat, bang tidy.