UK house prices dropping through the roof AGAIN

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posted on Oct, 7 2010 @ 04:24 PM
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UK house prices dropping through the roof AGAIN


www.propertywire.com

Prospects for the UK residential property market are uncertain with the latest real estate index published today (Thursday October 07) showing prices fell 3.6% in September.
(visit the link for the full news article)




posted on Oct, 7 2010 @ 04:24 PM
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Whats going on here eh?
Are prices dropping again so the banks can now steal all of our properties?
This is a huge drop in prices, i think it equates to about £6000...now thats just one month. What happens if prices keep dropping? people will be in houses they cant afford to keep or sell..its disgusting!
Its almost like the banks have done all they can to devalue property

www.propertywire.com
(visit the link for the full news article)



posted on Oct, 7 2010 @ 04:29 PM
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Originally posted by loves a conspiricy
Its almost like the banks have done all they can to devalue property


Whilst being kept afloat by the tax payer - now you're catching on!!

-m0r



posted on Oct, 7 2010 @ 04:32 PM
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Originally posted by loves a conspiricy
Are prices dropping again so the banks can now steal all of our properties?


How does dropping house prices lead to Banks stealing people's houses? Your logic does not flow. House prices go up and down and there is no evidence to suggest this blip is the start of a general fall in prices.

Try not to panic.

Regards



posted on Oct, 7 2010 @ 04:46 PM
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Originally posted by paraphi

Originally posted by loves a conspiricy
Are prices dropping again so the banks can now steal all of our properties?


How does dropping house prices lead to Banks stealing people's houses? Your logic does not flow. House prices go up and down and there is no evidence to suggest this blip is the start of a general fall in prices.

Try not to panic.

Regards


Banks lent the money....if the banks decide that they cant take the risk anymore as the prices have dropped into negative equity...the bank can...and probably will call in the debt. As the people wont have the cash for the house...the banks will reposses them as they are the banks property until you have paid off the debt

One of my dads mates lost millions through this
He was a landlord with many properties.....he borrowed all the money from Barclays, they decided that prices were dropping and called in the debts, he lost the properties and the money paid to the bank.



posted on Oct, 7 2010 @ 04:49 PM
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reply to post by loves a conspiricy
 


I am not a homeowner, so don't have any personal feelings towards the drop in housing prices other than it might mean I stand a chance to get on the property ladder under more realistic pricing terms. The whole system is screwed from the deposit needed to get a first-time mortgage through to the average price of a home in the UK. There needs to be an alternate system in place to help people like me as well as homeowners with mortgages more than the current market value of their homes.



posted on Oct, 7 2010 @ 04:56 PM
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As a property owner myself I have to say that intead of flapping about the loss of value, why not view your house as just that... A house to live in... Houses are meant to be lived so just do that!

And of course take your savings out of your bank and put them under your bed or something.. If everyone was to start doing that then the banks will quickly get the message and start being nice again!



posted on Oct, 7 2010 @ 05:02 PM
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reply to post by Yissachar1
 


I like your attitude towards the home. It is also why renting is much more appealing when you can change your environment almost at the drop of the hat rather than rooted to a particular area.



posted on Oct, 7 2010 @ 05:08 PM
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reply to post by LarryLove
 


I wonder if landlords will drop their rents alongside the drop in values?

Probably not! I hope the government does something about that if the pricing gets worse...



posted on Oct, 7 2010 @ 06:10 PM
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Originally posted by loves a conspiricy
Banks lent the money....if the banks decide that they cant take the risk anymore as the prices have dropped into negative equity...the bank can...and probably will call in the debt. As the people wont have the cash for the house...the banks will reposses them as they are the banks property until you have paid off the debt


No, you have completely lost the plot. Banks do not repossess houses due to nagative equity as that would not make business sense. Banks repossess houses when the person with the mortgage stops paying the mortgage. The bank loses if there is negative equity.

The house is not the banks property. The mortage (or loan) is against the property so if you default then your property is at risk as the bank may seek to recover the loan through repossessing the house. If the value of the house is less than the loan then the bank makes a loss.

Regards





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