Recession

[adrian29uk]

I feel sorry for the honest hard working day to day people who get laid off, and people with large mortgages. However I don't feel any sympathy for

1) Property Developers
2) Solicitors
3) Estate Agents
4) People that own streets of houses

Sorry to be a bastard, but they are one of the reasons we are in the mess. Lets be honest they have had it bloody good, time to take the rough with the smooth.

I'm 33 years of age and still living at home and for me a recession is good news, if it brings the properties down to a reasonable price. Like so many other people in there 30's, I'm not looking to make money from any property, all I want is a roof at a sensible price.

 

[Barrel of Fun]

Erm...How exactly are solicitors part of the reason for our current economic decline?

 

[Gully]

...and how about the people who own streets of houses, don't think we can blame a global recession (rising fuel and food prices) on them, would appear to be a tad harsh!

 

[Tom Hark Preston Park]

I blame Sarah Beeny

 

[steward 433]

This recession is gonna hit HARD

House prices in America have fallen 60% in some parts of the country and an average of 35% across the country.

Sell up now and rent for a year then make a small fortune

 

[Stumpy Tim]

Sounds like you're jealous of those people.

 

[Stumpy Tim]

Sell up now and rent for a year then make a small fortune

Once you factor in Estate agents costs, Stamp Duty, Solicitor fees etc - No you won't

 

[steward 433]

Sounds like you're jealous of those people.

I am in the same situation and i am not jealous!!

I am annoyed the bank of england and the government haven't done more to keep the cost of housing down to a sensible level though

Certain countrys in Europe have no mortgages, The government lend you the money for your house INTEREST FREE over as long as you need to pay it back. If you can't pay it back your kids get the house and they finish paying it back

Bearing in mind that you can buy a 4 bed 3 reception house over there for £28,000

 

[steward 433]

Once you factor in Estate agents costs, Stamp Duty, Solicitor fees etc - No you won't

:thud: If house prices drop by 35% you will

 

[Barrel of Fun]

You would have to sell your house first and it is not looking too rosy. Demand has waned and completed sales have fallen to their lowest level for some years.

 

[The Merry Prankster]

I feel sorry for the honest hard working day to day people who get laid off, and people with large mortgages. However I don't feel any sympathy for

1) Property Developers
2) Solicitors
3) Estate Agents
4) People that own streets of houses
.

These are all people who have taken advantage of or benefited from of the amount of cheap credit available. I think your attack might be better aimed at those who provided it,

1) Politicians
2)Bankers
3)The Financial Services Industry

 

[steward 433]

You would have to sell your house first and it is not looking too rosy. Demand has waned and completed sales have fallen to their lowest level for some years.

To be fair selling would be the hard part at the moment. You can tell it's gonna hit hard by the fact that the housing market has slowed so much.

Looking good for me to get a decent place if the prices drop that much!!!

 

[turienzo's lovechild]

Certain countrys in Europe have no mortgages, The government lend you the money for your house INTEREST FREE over as long as you need to pay it back. If you can't pay it back your kids get the house and they finish paying it back

Bearing in mind that you can buy a 4 bed 3 reception house over there for £28,000

thats because people in europe are sensible and rent

 

[Gwylan]

I am in the same situation and i am not jealous!!

I am annoyed the bank of england and the government haven't done more to keep the cost of housing down to a sensible level though

Certain countrys in Europe have no mortgages, The government lend you the money for your house INTEREST FREE over as long as you need to pay it back. If you can't pay it back your kids get the house and they finish paying it back

Bearing in mind that you can buy a 4 bed 3 reception house over there for £28,000

But for years, politicians, the media, the financial industry and, don't forget, the average person in the street have treated rising house prices as a good thing. Any move to bring them down would have been strongly resisted.

I must confess, I have long been baffled as to why. Inflation is generally seen as a bad thing, I don't see why house prices should be exempt.

It's interesting that you mention government mortgages. My parents bought their house with a mortgage from the council - I remember going to the council offices to pay it, £25 a month! Bet it's been years since that happened.

 

[lighthouse]

I feel sorry for the honest hard working day to day people who get laid off, and people with large mortgages. However I don't feel any sympathy for

1) Property Developers
2) Solicitors
3) Estate Agents
4) People that own streets of houses

Don't waste too much sympathy. Too many people, in good economic times, speny every penny, and indeed borrow to the hilt against their income. Nobody seems to want to 'save for a rainy day' anymore. If people cannot afford to save, then they can at least insure themselves against redundancy etc.

The people above are only reacting to and providing the services that the public are demanding. On that criteria you should add to your list the car salesman (as everybody has to have a brand new car of course), the mobile phone companies, (because we all need to change our phones every year and they must all have 101 other features), the airlines (for providing flights to all the exotic places people want to get to) etc etc etc.

I have no problem with how people choose to spend their money, it is a free country, thank goodness. What does annoy me is all the people who will start bleating as the economy heads south when they have done very well themselves over the last 10 years, and enjoyed the fruits of their labours to the full - and more - without any thought for tomorrow.

and relax

 

[Blackadder]

I'm 33 years of age and still living at home and for me a recession is good news, if it brings the properties down to a reasonable price. Like so many other people in there 30's, I'm not looking to make money from any property, all I want is a roof at a sensible price.

I hear what you are saying - house prices have been too high - but can't agree that recession is good news. With recession, come job losses. It's started already. The trickle becomes a flood and no one spends any money causing the problem to escalate. There is an air of doom and gloom over the majority of the country.

 

[Stumpy Tim]

:thud: If house prices drop by 35% you will

If you think they'll drop 35% you're living in Cloud Cuckoo Land...

 

[ridda]

At the end of the day it all comes down to greed.
Banks got greedy. [Lending to people who could not afford it]
Estate agents got greedy.[Bumping up property prices]
People got greedy.[Using there Houses as ATMS with two bedrooms attatched]
Now people are paying for the consequences of that greed.
Banks are going bust.
Esatate agents are closing down.
People are losing there houses.
The party is over.

 

[Chicken Run]

I feel sorry for the honest hard working day to day people who get laid off, and people with large mortgages. However I don't feel any sympathy for

1) Property Developers
2) Solicitors
3) Estate Agents
4) People that own streets of houses

Sorry to be a bastard, but they are one of the reasons we are in the mess. Lets be honest they have had it bloody good, time to take the rough with the smooth.

I'm 33 years of age and still living at home and for me a recession is good news, if it brings the properties down to a reasonable price. Like so many other people in there 30's, I'm not looking to make money from any property, all I want is a roof at a sensible price.

I too feel for the honest hard working day to day people who get laid off, and people with large mortgages. However I don't feel any sympathy for 33 year old men still living at home and bleating on about house prices, i'm not to much older than you, left school at 16 with 0 qualification's and am 10 year's away from paying off my mortgage, stop feeling sorry for your self old chap, my bet is if house prices do fall you still wont go out and buy one!!

 

[adrian29uk]

If you bothered to read what I said at the start I said that I feel sorry for the day to day average worker.

15 years ago I was about to buy a house, then the owners put the price up overnight and told me on the phone, "That's business". Then after this it happend again with another property.
In the process I lost over £1000 in solicitors fees. Then I lost my job on top of this twice. So this is why I show no sympathy, and why I think propery developers, solicitors and estate agents are greedy bastards.

People with rows of houses have pushed prices up, along with their estate agents and solicitors, they have all profited with minimal work.

And people have got greedy.