Villa05 wrote: » .... Nah. This is a wait and see time. Prices were at their max anyway due to affordability issues. Every sale reduces the pool of available buyers. We were at a point where the market had stalled and prices need to fall slightly to find buyers. This crisis will accelerate that process
Logan Roy wrote: Did you even read the article? The headline is pure click bait as usual. Basically it's primarily due the logistical issues of having people working from home and also trying to get valuations done.
OEP wrote: There's a lot to be said for buying now if you can get a seller to give you a good discount. Judging by some posts on boards, some are willing to do that. There is a lot of uncertainty now, so if you feel you're getting good value for your situation - then perhaps go for it. If this emergency doesn't last that long, the economy could recover quite quickly and property prices might not drop all that much - but no one knows! I would put a caveat that this should be a property that you plan on living in for minimum 5 years, ideally longer.
Donald Trump wrote: » The "economical to build" argument is a bit tenuous. ....
beauf wrote: » The market had slowed long before this crisis. The industry has been complaining about the cost to build not making it economical to build. That hasn't changed regardless. Who will buy it.
Donald Trump wrote: » If the land you are sitting on is going up by 20% year-on-year, and the economy is doing well (as it was), then people are happy to think that it will keep going up and are happy to leave their money in it for another while before cashing it in.
beauf wrote: » Makes no sense. It was the peak of the market. If they haven't built on it by now, it was because it didn't make financial sense.
fergus1001 wrote: » all the buckos hoarding land are about to get a good kick up the hole imo
lawred2 wrote: » Angry? No. But it's simply incorrect (maybe delusional) to say that someone buying at a peak before a collapsing market is not affected. It's barstool talk. Doesn't necessarily affect me right now. I'm not speaking for myself. I bought in 2013. But I damn well know how I'd feel if I closed in February 2020. And how concerned I would be.
Melanchthon wrote: » Land banking is definitely an issue, developers have sat on some sites straight through Celtic tiger, through crash and now if there is a down turn might keep sitting on them.
Graham wrote: » I don't know how you inferred I suggested otherwise.
lawred2 wrote: » Your points being valid don't automatically make what I was saying invalid. Both can be equally true.
combat14 wrote: Meanwhile, land values for house building purposes could fall by up to 50pc.
Graham wrote: » My post was to add a bit of balance, you might notice it was a response to another post (quoted).
Zenify wrote: » It just appears that your post was looking for reason to justify buying rather than looking at the current situation..
Graham wrote: » Not that I told anyone to go out and buy but a bit of balance is probably more sensible than running around aimlessly proclaiming the sky is falling in. Was there a specific part of my post you disagree with?
Graham wrote: » The same could be said of ignoring the potential costs of continued renting while waiting for the hail Mary price drops and assuming mortgage finance is always going to be readily available. Temporary drops in value can be offset against rent savings, additional years of capital repayments, inflation and access to mortgages at economy stimulating interest rates.
Zenify wrote: » We are entering what could be one of the worst economic and health disasters in history and you are still telling people to buy. Is there ever a situation when you tell people not to buy property?
lawred2 wrote: » But it's simply incorrect (maybe delusional) to say that someone buying at a peak before a collapsing market is not affected. It's barstool talk.
bubblypop wrote: » I think you know that there is nothing happening anywhere right now. We are on a lock down. There won't be anything bought it sold for a long time. Knowing that there will probably be a recession, anyone would be crazy to spend a lot of money on anything right now. I'm not sure why you seem so angry. I'm not waiting further drops, I have been looking for a property for the last 12minths or more. When I see one that I like & can afford, I will buy it.
handlemaster wrote: » The left doing leftie stuff. Same vibe from SF
ebayissues wrote: » Right now I'd take 10% drop in any property I was looking at a few month ago. A couple of days ago, I revised my offer on a property down by 10%. Agent sent an angry response but couldnt give a toss. The corrwlation between stock markets and house prces historically is lless than 50%, I dont think house prices will fall by 20%, it could be more but I'd say at a minimum a 10% will occur, not now but 3 - 6 months time. There are alot of factors at play, so nobody can say how much of a drop will happen and when.
voluntary wrote: » Dear landlords, read this:https://www.forbes.com/sites/rainerzitelmann/2020/03/09/the-rapid-rise-of-anticapitalism-and-rich-bashing-in-germany
Melanchthon wrote: » I know it seems like a weirdly long time ago but we just had an election where SF did very well obvious land banking is going to be incredibly politically damaging for FF / FG
lawred2 wrote: » Out you go and splash the cash then... I presume since you're confident that buying before a dip has no real tangible effects... Then I presume you're happy to go balls out in to the market right now!? Or are you waiting for further drops? Why would you be doing that? It's just in your head you know?
Dolbhad wrote: » I don’t think new builds have scope for reductions due to HTB and also if new builds don’t sell, builder will sit on the land and houses until they do go up in price.
![Photo of [Deleted User]](https://w6.vanillicon.com/v2/6b0748b4741870baaad828fe92174b3c.svg)
