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#1 14.Sep.18 11:34:32

Barleycorn
Member

House prices locally

A lot for factors at play...

Gentrification. Social housing. Trams.  M60.  Schools.  Regional reputation.  Greenbelt use.  Brownfield costs.

But....    none have the potential to batter equity by 35% !!

https://www.bbc.co.uk/news/business-455 … nel=social

"Mark Carney met senior ministers on Thursday to discuss the risks of a disorderly exit from the EU.

His worst-case scenario was that house prices could fall as much as 35% over three years, a source told the BBC.

The warning echoes some of the Bank's previous comments."



Would a 35% drop in value be good, bad or both ( depending on your situation).

Last edited by Barleycorn (14.Sep.18 11:36:12)


I went through ALL your posts, found nothing,

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#2 14.Sep.18 11:52:03

Barleycorn
Member

Re: House prices locally

10 % 'loss', per year, per house... Until 2022.

For a lot of folks, their house value could drop by more than they earn all year.


I went through ALL your posts, found nothing,

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#3 14.Sep.18 11:55:27

Milly Savage
Member

Re: House prices locally

I'm hoping it's just more scare tactics...…

…. or else, I'm doomed!!!

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#4 14.Sep.18 12:42:15

crackerbarrel
Member

Re: House prices locally

I suppose it's relative isn't it. If you want to move house then it should even out if all areas are the same, but if you land up in negative equity it will be a nightmare. If you have a house or houses that you are hoping to sell to fund your old age, then that will be worrying as well, but if you're like us old stick in the MUDs who've lived in your house for 47 years & hope to continue living there for several more years to come, then it's just numbers on a page isn't it.


Happiness is a journey, not a destination.

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#5 19.Sep.18 15:48:18

Barleycorn
Member

Re: House prices locally

crackerbarrel wrote:

I suppose it's relative isn't it. If you want to move house then it should even out if all areas are the same, but if you land up in negative equity it will be a nightmare. If you have a house or houses that you are hoping to sell to fund your old age, then that will be worrying as well, but if you're like us old stick in the MUDs who've lived in your house for 47 years & hope to continue living there for several more years to come, then it's just numbers on a page isn't it.


Indeed.

The market could do with a shake up though (not to mention 50% equity tax on the sale of any property, and an end to 'private' landlords housing council funded tenants) and in related news, as it is 10 years almost to the day  I would not have bailed out RBS a decade ago - which would probably have crashed the entire market by far more than 35%....  but we would be over it by now and probably a better place as a result.

Oh well - next time. wink wink wink


I went through ALL your posts, found nothing,

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#6 Yesterday 18:29:05

The Chief
Member

Re: House prices locally

In Royton I could afford my own home.

Down where I live now I'm renting as do a lot of people.

A starter home in my neighborhood is 325-350k.

Interestingly I was speaking to a stockbroker for Lloyds Bank who had been in the game for 32 years and she reckoned next year depending on Brexit the stock market and house prices could plummit.


Be happy - You'll live longer

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#7 Yesterday 20:54:32

sg
Administrator

Re: House prices locally

Barleycorn wrote:

I would not have bailed out RBS a decade ago - which would probably have crashed the entire market by far more than 35%....  but we would be over it by now and probably a better place as a result.

Man on Radio 4 last night said nobody has ever tried that to see how markets react. We always bail out because nobody in power wants a collapse on their watch


[citation needed]

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