Can anyone predict what will happen to the housing market in the UK over the next 5 years?
Thursday, March 4th, 2010 at
1:00 pm
Considering how things arein America and the unsustainability with mortgage lenders and estate agents going broke, also looking at FTSE profules recently I believe we are set for a drop in prices and a rise in interest rates. I know for the past ten years people have been predicting a crash and it happens but judging by recent interest rate rises and lack of housing for demand, first time buyers unable to get onto the property ladder, lenders giving up to 100% mortgages, what do you think will happen in the next year?
Repossession
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Tagged with: Crash • Housing Market • Mortgage Lenders • People
Filed under: property crash
ik denk er heel wat mensen in slechte schuld zal zijn
im één van die mensen die zijn goin om denkt te verpletteren
Niemand kan what' betrouwbaar voorspellen; s dat in de immobili
i have asked a similar question in the economic section ..my opinion is that it will be OK until after the Olympic games and then there will be a slump throughout the UK similar to the last UK recession however I’m not qualified on the subject its just my opinion
The Dr just answered ,
“The prices could crash by 40% or they could rise by 25%. Who knows?”
I’m glad he’s not my Doctor although he does sound about as informed as anyone who was just guessing based on the past.
The trick is trying to understand the future and for a long time now the mainland of Britain has been shareing in global growth with a restricted land mass. I believe that economic miracles cannot last for ever — though there are many reasons for Britain’s good fortune a considerable amount has been due to a powerful currency making imports cheaper and the remarkable ease at which individuals have been able to borrow — made even easier by ever increasing property prices.
Well in the end everything has to be paid for and as younger people than I begin to realise we have not been all that helpful to them or paid too much attention to their needs.
A lot of the long term house price rises also have been due to ancient draconian planning laws.. Start by knocking down many of our Victorian seafronts and build expensive new condo’s – see San Diego as an example , and many retired people will move out to the coast leaving property nearer the jobs.
Overall my message to the Dr is things are going to change and nearly all the changes indicate that I expect houseprices to be the same now as in twenty years time and that just like the stock markets recently it could well be a very bumpy ride indeed.