oops apocalyse?

 

http://news.bbc.co.uk/1/hi/business/7502184.stm

oops apocalypse?

 

http://news.bbc.co.uk/1/hi/business/7502184.stm

Needed a "p"

Have you had one?

Have you had one?

no 2

This is baaaaaad

 

Expect a ?150,000 UK house to be "worth" ?100,000 by Christmas.

Expect a ?150,000 UK house to be "worth" ?100,000 by Christmas.

I don't know of many houses that are worth ?150K, in most parts of the England, ?150K will get you very little indeed, in fact where I live, a one bed house sold a couple of weeks ago for ?140K, although it was originally up for ?175K..................

 

People do panic for the sake of it though, so what if your house value falls by 50%, it's only a problem if you intend selling it. If you do want to sell it, and get a bigger/better property, thne the chances are that will have fallen by the same sort of percentage as well. The real problem is if you are looking to trade down, from a larger property to a smaller one.

 

If your property did fall 20% this year, then chances are that if you keep it for another 10~15 years, it'll go back up, above and beyond what it is/was "worth" recently.

I don't know of many houses that are worth ?150K, in most parts of the England, ?150K will get you very little indeed, in fact where I live, a one bed house sold a couple of weeks ago for ?140K, although it was originally up for ?175K..................

 

People do panic for the sake of it though, so what if your house value falls by 50%, it's only a problem if you intend selling it. If you do want to sell it, and get a bigger/better property, thne the chances are that will have fallen by the same sort of percentage as well. The real problem is if you are looking to trade down, from a larger property to a smaller one.

 

If your property did fall 20% this year, then chances are that if you keep it for another 10~15 years, it'll go back up, above and beyond what it is/was "worth" recently.

 

It was just a random figure in truth, no other reason.

 

I agree to an extent, but you're missing the wider point about an all out recession. Hindsight doesn't apply since the current situation cannot be said to resemble any previous scenarios.

 

The yanks have knackered everything by lending to pikeys, Jerry Springer fans and ne'er do wells. Debt is infinite but available cash isn't. Breaking point has come and gone and I promise you this is the beginning of a huge problem that will end in tears for millions.

so youve borrowed - perhaps too much - to get a house

 

not an unreasonable aspiration having your own home, is it?

 

you lose your job

 

can't afford repayments

 

house is worth less than you paid

 

aye, alls well

I don't know of many houses that are worth ?150K, in most parts of the England, ?150K will get you very little indeed, in fact where I live, a one bed house sold a couple of weeks ago for ?140K, although it was originally up for ?175K..................

 

People do panic for the sake of it though, so what if your house value falls by 50%, it's only a problem if you intend selling it. If you do want to sell it, and get a bigger/better property, thne the chances are that will have fallen by the same sort of percentage as well. The real problem is if you are looking to trade down, from a larger property to a smaller one.

 

If your property did fall 20% this year, then chances are that if you keep it for another 10~15 years, it'll go back up, above and beyond what it is/was "worth" recently.

 

You don't know LH or Farnworth then posh lad

 

Get a mansion for ?150k round there

 

That's if there were any mansions

You don't know LH or Farnworth then posh lad

 

Get a mansion for ?150k round there

 

That's if there were any mansions

You'd get Farnworth Town hall for less.