Are we set for a housing market 'correction'?

[Monsieur Leclerc]

In his 1997 budget speech Gordon Brown said, "I will not allow house prices to get out of control". Ten years on and they have spiralled leaving thousands of people unable get onto the first rung of the property ladder. With mortgage lending set to be even stricter and thousands facing problems with fixed mortgages coming to an end this year, are we set for a market correction?

 

[eastlondonseagull]

Yes and no. I want them to drop everywhere except the street I'm living in, so I can sell mine and move to a bigger, cheaper place

Sadly, that won't happen

.

 

[Simster]

IMO, prices might dip slightly, but only in line with the economy at large.

And until a government has the bollocks to tax buy-to-let properties, that's the way it's going to stay. I feel sorry for people in their early 20s these days - they haven't got a hope a buying a place as things stand.

 

[Napper]

No , may drop slightly but nothing major imo

 

[Rambo]

Do ya know this arguement of not getting on the ladder really gets to me. It was tough when I had too, and I am sure it was for everyone else too. Stop bleating about it, either rent or go and get a better job so you can afford it. Its life I am afraid.

 

[Skint Gull]

Do ya know this arguement of not getting on the ladder really gets to me. It was tough when I had too, and I am sure it was for everyone else too. Stop bleating about it, either rent or go and get a better job so you can afford it. Its life I am afraid.

Piss of Rambo! When you bought a house was a 3 bed semi 7 or 8 times the average salary? Quite clearly unless you have bought your first house in the past decade it would not have been!

 

[Badger]

I think there is too much demand for there to be a proper crash. I am praying that I'm wrong being a 23 year old hoping to one day get my foot on the housing ladder. I'm on a reasonable salary but the most I can afford at the moment is a small shed in Burgess Hill

 

[Monsieur Leclerc]

Do ya know this arguement of not getting on the ladder really gets to me. It was tough when I had too, and I am sure it was for everyone else too. Stop bleating about it, either rent or go and get a better job so you can afford it. Its life I am afraid.

You are conveniently forgetting key workers, who are not entitled or will never be able to muster up enough savings to be able to afford a property. There are bound to be knock on effects in the future, if there is a whole generation that are struggling, with populations set to increase we could be heading for a huge shortfall in pension funding and a major crisis.

Not to mention the wealth gap created with buy-to-letters creaming off the market and facing minimal tax on huge profits.

 

[Nibble]

Do ya know this arguement of not getting on the ladder really gets to me. It was tough when I had too, and I am sure it was for everyone else too. Stop bleating about it, either rent or go and get a better job so you can afford it. Its life I am afraid.

You are a moron who clearly has no basic understanding of how much property prices have risen and how much bad credit there is in the market.

 

[Uncle C]

Here are some reasons why the market will suffer a significant downwards correction:

1. Sub prime issues and difficulty in getting the absurd multipiers on mortgage funds.

2. 1.25 miliion people coming off cheap interest rates in 2008

3. Decline in investors for 'buy to let'

4. Increasing costs of fuel, heating etc.

5. Declining 'feel good factor'.

 

[Lord Bracknell]

go and get a better job so you can afford it.

How does that work?

Say you are earning £25,000 a year and the property you want costs £200,000 now and £220,000 in a year's time.

 

[Tony Meolas Loan Spell]

A government making pledges and then ignoring them.

Itll never catch on you know. I put it down to Tory Sleaze.

 

[Titanic]

Piss of Rambo!

Is that a line from The Arabian Knights?

 

[Rambo]

Do you know what, yeah I am a moron.

Thread Closed.

 

[Rambo]

Piss of Rambo! When you bought a house was a 3 bed semi 7 or 8 times the average salary? Quite clearly unless you have bought your first house in the past decade it would not have been!

5 years ago mate, but i dont know what I am talking about so ignore me.