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| The Credit Crunch; How is it affecting U? | |
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| Topic Started: 13 Nov 2008, 04:10 PM (755 Views) | |
| koalakim | 20 Nov 2008, 08:59 AM Post #26 |
Legend
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Hi Tammy Good luck with the viewings! I'd read that some houses were starting to shift now that sellers had started to drop their prices plus a lot of those still with cash were starting to invest in property again. Then as you say there is still a shortage of property in the UK so then prices will rocket again - although it might now be constrained by lenders being more strict but it might mean you have more choice of buyers. I'm confused about property prices one minute they are saying they are now back to 2005 prices - which I'd be happy with for our place but on the other hand they are saying falls of 30% then 30k pounds (sorry using Aussie keyboard and no pound sign!) then they were talking about a 70% drop - wish they'd make their minds up! Obviously I can only relate that to our place! As you say nice to hear a bit of good news for a change. |
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| tam_n_brett | 20 Nov 2008, 09:17 AM Post #27 |
A phenomenon
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Hi Kim, yeah very confusing........ prices in our area are down 10% there were 5 places reported to be up by between 2-5% other parts are down by 30% so it's all down to postcode i think?! I don't know if there is any truth in any of it but i do go with the fact that for any upturn to happen it has to start with lending and property. The shortage of homes in the Uk is also a fact so a lot of what they said did make sense. I wish the media would start telling people to go out and buy. They have been saying for ages to save money now they are saying this will cause massive deflation so are now saying we need to spend again. Yep i too am utterly confused!!!! |
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| koalakim | 20 Nov 2008, 09:44 AM Post #28 |
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Legend
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I was reading this morning that deflation for mortgages is worse than high inflation - especially for those people paying interest only. Yep, spend, spend, spend your way out of recession. I was also reading that Brown is aiming the biggest tax cuts at the lower earners who's policy is once you've got it spend it (only quoting what is in the news.....) in order for them to start to bolster up the economy! After all I guess you can always put your 50in Plasma in the pawn shop rather than the bank loosing the money first! |
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9:07 PM Mar 11
