Rabbithunter 456 Posted September 23, 2008 Report Share Posted September 23, 2008 Is there any hope of property prices dropping any more than what they have? Whats your predictions? Quote Link to post Share on other sites
rabbit_killer 2 Posted September 23, 2008 Report Share Posted September 23, 2008 yep hang on till all the banks finish going bankrupt ect prices will keep falling or a while Quote Link to post Share on other sites
Rabbithunter 456 Posted September 23, 2008 Author Report Share Posted September 23, 2008 i suspected that...... around about the back end of 2009 i was thinking of buying........ Would any property "experts" reccomend Buying to Let, with this current economy? Quote Link to post Share on other sites
PeakOil 352 Posted September 23, 2008 Report Share Posted September 23, 2008 BtL will be killed off by lack of attractive mortgages imho. I can't see houses really recovering till 2011-2012 but who knows? I have bet on 50% falls from peak 2007 prices with a guy at work last year. He said prices would never ever fall. If they get past 25% (currently something like 12% down) the £300 is mine Quote Link to post Share on other sites
jasper65 6 Posted September 23, 2008 Report Share Posted September 23, 2008 spoke to a Estate agent the other week while he was here! he mentioned that they havn't sold one house for near on 6 weeks, the main Busiiness they're doing is Letting property. he also was pretty much backing up what PeakOil is saying that House prices will probably fall upto 2010 and perhaps over ..... I feel sorry for some of the first time buyers who payed way over the top a couple of years back and now dropping deeper and deeper into Negative equity and probably have 100% Mortgages and over... Jasper Quote Link to post Share on other sites
Ricky-N.p.p 0 Posted September 23, 2008 Report Share Posted September 23, 2008 depend on what the american goverment do, if they clear all the banks existing debt as they propose o do the you will see the market here booming again, all the high rise flats in glasgow are being pulled down, i dont know what the sittuation is else where in the country but thats alot of home, our population is growing constantly...demand for houses inst going to go away Quote Link to post Share on other sites
PeakOil 352 Posted September 23, 2008 Report Share Posted September 23, 2008 depend on what the american goverment do, if they clear all the banks existing debt as they propose o do the you will see the market here booming again, all the high rise flats in glasgow are being pulled down, i dont know what the sittuation is else where in the country but thats alot of home, our population is growing constantly...demand for houses inst going to go away The American government can not clear all the banks debt, there is not enough money in America to do it. The USA bail out will not work, it may delay the inevitable for a while but it will destroy the value of the US$. For a country that relies heavily on imports and cheap oil, they will be screwed. Suburban living and the gas guzzling SUV way of life will cease to exist in 50 years time unless the world moves away from fossil fuel based economies. Any further bail outs in the UK will not stop house prices falling in real terms. All this government borrowing and behind closed doors bail outs for british banks is feeding inflation and increased comodity prices. The price of houses may not fall greatly in £ terms, but you could be paying £5 for a loaf of bread and £8 for a pint. Plus us taxpayers will be paying back all the government borrowing plus interest for decades to come. Quote Link to post Share on other sites
BLACKBOB 9 Posted September 23, 2008 Report Share Posted September 23, 2008 i suspected that...... around about the back end of 2009 i was thinking of buying........ Would any property "experts" reccomend Buying to Let, with this current economy? Get in there now as investors are buying lots of properties up again. This will push the lower priced houses up again very soon. Be cheekey on your offers, but it will only be attractive if you can proceed straight away, so get your finances in place. Look out for repossesions with estate agents and try and get them before they are taken to auction. Auction prices are not always the cheapest at the moment. Barrets are takeing good offers on their part exchanges at the moment as they need to shift them as their new sales are down. Im no expert but i think the fall in prices will slow up by the begining of 2009 and will start to climb again by the end. Probably wont recover tho for a couple of years, but by 2018 you can sell up your properties and make ££££££££. Cheers Bob Quote Link to post Share on other sites
KimXL 0 Posted September 23, 2008 Report Share Posted September 23, 2008 As a mortgage broker by day, I totally agree with Blackbob, a great time to buy if you've got some cash to put down. Quote Link to post Share on other sites
PeakOil 352 Posted September 23, 2008 Report Share Posted September 23, 2008 As a mortgage broker by day, I totally agree with Blackbob, a great time to buy if you've got some cash to put down. No Vested Interest there then :whistling: Quote Link to post Share on other sites
Guest ESS Posted September 23, 2008 Report Share Posted September 23, 2008 As a mortgage broker by day, I totally agree with Blackbob, a great time to buy if you've got some cash to put down. It aint going to get better this is only the start ,the German and French economies are already stalled ,the amount of money borrowed by the us and uk governments can only be covered by more taxes,the price of houses will continue to fall at least whilst the cost of living in real terms will continue to raise.The US federal reserve is being asked to take over or invest near 700 billion dollars just to keep there economy going,the simple truth is that they havent got it.When taxes go up noone spends ,the banks will not be in a rush to give credit,joe public will not be in a position to spend consequently tax revenues recieved to governments will reduce,so it will go on till it plateaus ,when that will be who knows.. Quote Link to post Share on other sites
spep21 0 Posted September 23, 2008 Report Share Posted September 23, 2008 This is going to go on for a few years yet. Nothing wrong with getting in low offers now though, lots of people are struggling with mortgage payments so you never know. Quote Link to post Share on other sites
Guest markbrick1 Posted September 24, 2008 Report Share Posted September 24, 2008 As a mortgage broker by day, I totally agree with Blackbob, a great time to buy if you've got some cash to put down. as a morgage broker you would say that dont buy till winter09/10 property will carry on falling until then and steady of and start to slowly rise after that and it will be slow,mark Quote Link to post Share on other sites
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