Roy

History could easily repeat itself- remember what happened in '91-'92?
Interest rates shot up and house prices fell as people were desperately trying to get out. 'Negative equity' was the talk of the tea room.
I heard stories of people packing a suitcase, walking out of the house and posting the keys through the letter box. Imagine owing more than the house is worth? Ouch.
But this could be an opportunity for some. I bought a repossession in '92, it was a relatively new build (2 years old) that sold for £50,000 + when new but was now in the window for £28,000.
It had been stripped, no light fittings and some kitchen units missing but was still under a builder's warranty and only needed cosmetic/home diy repair.
My mortgage rate then was 9% but the monthly payments were less than £200. As you know, mortgage rates fell soon after but that was luck not foresight!
Point is...have cash ready, act fast 'cos there'll be others in the game too, and don't worry about repairs. I'm sure everyone 'knows someone'.

History could easily repeat itself- remember what happened in '91-'92?
Interest rates shot up and house prices fell as people were desperately trying to get out. 'Negative equity' was the talk of the tea room.
I heard stories of people packing a suitcase, walking out of the house and posting the keys through the letter box. Imagine owing more than the house is worth? Ouch.
But this could be an opportunity for some. I bought a repossession in '92, it was a relatively new build (2 years old) that sold for £50,000 + when new but was now in the window for £28,000.
It had been stripped, no light fittings and some kitchen units missing but was still under a builder's warranty and only needed cosmetic/home diy repair.
My mortgage rate then was 9% but the monthly payments were less than £200. As you know, mortgage rates fell soon after but that was luck not foresight!
Point is...have cash ready, act fast 'cos there'll be others in the game too, and don't worry about repairs. I'm sure everyone 'knows someone'.

House prices will ultimately crash in absolute terms. Whether inflation means they continue to go up in another matter but in absolute terms they will fall. Once we start to see interest rates climbing the collapse will happen quickly. 
When i was in the property market a long time ago the interest rates were much higher - the earnings multiples were much lower - they had to be because of the high interest rates. As we move into a higher interest environment there will be many who can now manage but will find they can't in the future. The most distressed start to sell, property prices start to come down. A vicious cycle of distressed sales and lower offers sets in. Property prices have been able to climb to what are ridiculous levels b/c of cheap money. When the cheap money stops the property market resets. How much depends on the level of interest rates. Could they halve? Easily - when interest rates are so low, a doubling, a trebling of rates can easily happen. Governments are afraid of this but being afraid won't make the inevitable go away.

History could easily repeat itself- remember what happened in '91-'92?
Interest rates shot up and house prices fell as people were desperately trying to get out. 'Negative equity' was the talk of the tea room.
I heard stories of people packing a suitcase, walking out of the house and posting the keys through the letter box. Imagine owing more than the house is worth? Ouch.
But this could be an opportunity for some. I bought a repossession in '92, it was a relatively new build (2 years old) that sold for £50,000 + when new but was now in the window for £28,000.
It had been stripped, no light fittings and some kitchen units missing but was still under a builder's warranty and only needed cosmetic/home diy repair.
My mortgage rate then was 9% but the monthly payments were less than £200. As you know, mortgage rates fell soon after but that was luck not foresight!
Point is...have cash ready, act fast 'cos there'll be others in the game too, and don't worry about repairs. I'm sure everyone 'knows someone'.

I've seen the 2017 SOTD sell for over £1000 recently. At least 2 separate sales. It seems to cost about the same as the proof now. In time I think it will increase more than the proof due to the lower mintage.

@JeffM Your man fat comment made you a legend!!!!!!!   I know things can get lost in translation.  I know over your side of the pond some states sell beer in larger beer bottles called Growlers.    If you told the guys here you drink beer from a growler I swear to god you would get a standing ovation! 

Just tell ‘em your wife works for Cartier and Tiffany

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Are you using Morse code? why so many .'s?
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I look at it as six weeks free storage, then again my glass is half full 😃

I look at it as six weeks free storage, then again my glass is half full 😃

@Leonmarsh it was a joke mate and quite funny, but not funny enough for me to use up an emoji 😃  I'm saving them for the 1p thread.
It's all good here 👍
 

I look at it as six weeks free storage, then again my glass is half full 😃

@Leonmarsh it was a joke mate and quite funny, but not funny enough for me to use up an emoji 😃  I'm saving them for the 1p thread.
It's all good here 👍
 

I look at it as six weeks free storage, then again my glass is half full 😃

I look at it as six weeks free storage, then again my glass is half full 😃

I look at it as six weeks free storage, then again my glass is half full 😃

Yeah, it seems they've all calmed down now that the ice skater is allowed to compete. But if she doesn't win then the tanks will be back.

I look at it as six weeks free storage, then again my glass is half full 😃

You and Barry drink in the same pub?😁

@JeffM Have you seen a decorators radio? 

Jeff, the term man fat here in the UK doesn't mean fat that accumulates on a man. Well, not as I think you suggested, and of course each to their own.
Perhaps fat,  in a man, that may, on occasion leave said man. Normally at times like birthdays, and Christmas. Or other times you may count yourself lucky.