UK Landlord Forum / Life

QuoteI'm getting a little bit fed up with the screaming headlines I keep seeing on websites and newspapers. Last Friday, I read one which said 'Biggest House Price Fall Since 1995!' Let's be clear about this: there is not going to be a housing market crash.

Simon Rubinsohn, chief economist of The Royal Institute of Chartered Surveyors was quoted on The Independent online money section on Friday as saying 'The housing market is slowing sharply. However, we still expect most of the fall-out from the current round of turmoil in credit markets to be felt in terms of lower levels of activity, rather than outright house price declines. Typically, prices only tend to decline in a meaningful way when forced selling leads to a glut of supply.'

Meanwhile, James Harding, Business Editor of timesonline.co.uk, says that analysts are still forecasting growth of just under two per cent. He goes on to say that the housing market is heading for a correction, not a crash. So, prices may drop a little, but it's a case of gloom, rather than doom.

So, the boom is over. We're not going to see the enormous house price rises we've seen for the last few years in the near future. But this will sort the wheat from the chaff. Short-term investors, amateur property developers and first-time buyers who look to move on and up quickly are all going to have to choose their purchases very carefully because they will no longer be able to bank on a rising market (how many times have I heard Sarah Beeny warning people about this?).

And if you don't need to move in the near future, you can sit tight for the next few years, watch what the market does from the safety of your nice, warm home.

http://www.channel4.com/blogs/page/4homes?entry=house_price_falls_don_t&intcmp=rss_4homes_4homes

According to my online banking mortgage figures, I now own £600's worth of bricks and mortar.

Although I don't, because its Leasehold. But you get the idea.

Heartwarming.


V

He he V
I used to think that, every month i used to think ok i have just brought the door, the next i have just brought some roof tiles.  It started to do me heeeed in after a while

Hehe haven't quite taken it to that level yet ... think I'll stop paying attention when there's a bit more equity in there. I'd feel much more secure if there was 10% banging around.

Still, all in good time.


V

No that level needs to stop before it starts, cos if you carried on, in our minds you would have paid for your house alot sooner than you think lol. 



Ok i have paid of my house as i have just brought the last of the tiles and chimney, WRONG LOL

Ah, but you didn't count brick by brick, or the wiring, or the plumbing (section by section).

Or the individual floorboards.




V

Ooooops, this was my problem then lol
Dam this costing against mortgage game