House Prices: How Low Will Yours Go (TV3 Programme)

Hey there CJS. Is the first statement really dependent on the second?

Inner contentment isn’t dependent on/kickstarted by names on deeds.
Don’t get me wrong - I don’t mean to get all hippy on ye - I myself love a few gadgets/material things around me.

I also want to get on with life, giving my kids not just what they need but also treats when appropriate. I can’t do that to that to the same degree when paying Mr Bank Manager X amount of interest for the next 25 years.

I fully intend to buy. But not just now.
You might be chomping at the bit/have your finger on trigger for a few reasons…but using the reason - ‘you want to get on’ should not be the main motivation to buy, IMO.

In a nutshell, not owning a home doesn’t stop people getting on in/with life.

I bought my first house in 1999 and remember first hand what price houses were prior to the start of the boom. Others don’t have that advantage, they perhaps only became aware of house prices less than a decade ago when they were already over-inflated, and have never bee on the Pin and seen a graph of inflation-adjusted house prices since the 70’s.

For those people the constant message of ‘great value compared to the peak’ probably has more resonance than it does with me or other people on here.

This is very true. People on this board have taken the time to educate themselves on the market. They have seen the figures, heard the reasoning of Pinsters, made up their own minds on the state of the market.

A lot of Joe Soaps at home, esp. potential first time buyers, may look at what they’d have paid in 2007 and say wow, this is value now.

Who is calling for bulldozers?

Is NAMA to hoard all the vacant property long enough for it all to rot and be fit only for demolition?
We spend billions building these properties and get stuck paying the bill but we wont ever use them?
Time is ticking before alot are in dire condition

Just a comment I have been stuck at home for the last few days and am fascinated by the amount of “Property Porn” tv shows being shown particularly by BBC/Channel 4. They do show when a property was sold and their “expert valuers” give a price which is reasonably current but my God a lot of it is mad.
A show this morning Homes under the hammer had a guy buying a fire ravaged wrecked farmhouse outside Leeds for around £350k in 2008 they went back in Oct 2010 NOTHING had been done to the place. It turned out it was a grade 2 listed building. He had had plans drawn up which according to the programme would cost £20k to submit so he couldnt submit them until he was sure he would get approval. Anyway there were also issues with outbuildings which he had hoped to convert but which now would have to be knocked and his access to a nearby motorway.
Bottom line they got the “expert valuers” out who effectively told us that he would clear £50k, when and IF he got over all of the above. I have watched these shows for the last few days NOBODY seems to make a loss the market is always rising and buy at an auction your bound to make a fortune

It might be no use to you as a purchaser in determining what you are willing to pay but it can still be very useful as a negotiating tactic to convince a vendor (and/or his bank manager) to accept what you are willing to pay.

what I find mad is, when these experts return to value a property following improvements made by the new owner, the new valuation can vary from expert to expert by many 10s of thousands.