2008-interesting year ahead of us.

[Boomin33]

well maybe what I heard from clients in London today, isn't near as much fear mongering as this article I just read....

http://uk.news.yahoo.com/rtrs/20080529/tuk-uk-britain-houseprices-nationwide-fa6b408.html (http://uk.news.yahoo.com/rtrs/20080529/tuk-uk-britain-houseprices-nationwide-fa6b408.html)

[simonprelude]

The house price market is based on made up figures :(
If the same houses were for sale at different times with the same buyers, would prices be any different ?? Statistics can be made to say whatever you want.
Are all 3 bedroom houses in the same area the same price, no, however the sales statistics say they should be. If one month the nice houses are sold, the next the run down houses, does that mean the market has crashed ??

This only really affects people that need to sell a house because they took on too much anyway really. Of course there are a few exceptions, however always look to spend less than your limit. That's part of the reason for our recent downsizing, we don't want to get stuck if the market really does go pear shaped.

[Senninha]

I guess you will read the numbers based on your outlook on life in general ... is the glass half full or half empty ... the latter will see a crash coming ... the former will be closing more business and and making new purchases

Regards, Paul

(I hope Detlef's not reading this ;))

[NoelWatson]

well maybe what I heard from clients in London today, isn't near as much fear mongering as this article I just read....

http://uk.news.yahoo.com/rtrs/20080529/tuk-uk-britain-houseprices-nationwide-fa6b408.html (http://uk.news.yahoo.com/rtrs/20080529/tuk-uk-britain-houseprices-nationwide-fa6b408.html)

The betting markets are pricing in >20% falls over the next three years. In the last downturn london suffered a lot worse than the national average. Who knows what will happen this time....

[dan the man]

If i ever get my house finished ill have over 100k equity in it anyway so thank god i bought when i did. Some friends my age (27) dont even have houses and i just dont know what they are gona do.. :(

[NoelWatson]

If i ever get my house finished ill have over 100k equity in it anyway so thank god i bought when i did. Some friends my age (27) dont even have houses and i just dont know what they are gona do.. :(

They can wait until house prices fall (and undershoot) their historical mean I guess. I think the UK is effectively 12 months behind the U.S. in the downturn.

[TheQuietOne]

If i ever get my house finished ill have over 100k equity in it anyway so thank god i bought when i did. Some friends my age (27) dont even have houses and i just dont know what they are gona do.. :(

Dan - I'm the flip side, bought pretty much 2 years too late
(28) and have a measly amount of equity and a big mortgage, with a rate ending in December! Needless to say the economy at the moment has me awake at night. Having a small business on top of this really means I fear the outcome of this year for myself and my family.:(

Still no point in being paralysed with fear I suppose - better keep looking at ways of making some money! :) I though auctioning Senninha's body was going to answer my prayers, but it seems the more 'mature' man fetches about £5 a day in the current climate...:laugh:

[dan the man]

LMAO!

Yeah im the same with a business, im just glad im busy at the moment, but who knows if my work will dry up. Thank god boilers are always breaking and bathrooms need doing :) !