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altyfc
Joined: 29 Dec 2004
Posts: 1232
Location: Aardvarkland
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 Posted: Mon Jan 21, 2008 12:26 pm Post subject: House prices in 2008 |
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The asking price for homes in the UK has fallen for the third month in a row and it seems clear that a downturn is on the cards... what do you think will happen to the property market in 2008 where you are?
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capebretoner
Joined: 02 Aug 2006
Posts: 82
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| Posted: Wed Jan 23, 2008 7:27 pm Post subject: |
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For the first quarter I think that the housing on the east coast of canada, at least in the more urban areas will be stable. That said with all of the craziness there are very few house on the market.
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altyfc
Joined: 29 Dec 2004
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Location: Aardvarkland
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capebretoner
Joined: 02 Aug 2006
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| Posted: Sat Jan 26, 2008 6:28 pm Post subject: |
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| altyfc wrote: |
And what about the year as a whole, or longer term still?
Here in the UK, some people are predicting a 12% decline over the next 5 years. |
12%, that is steep
I think that in the rural areas there is not going to be muh change, maybe pace with inflation. In boom cities like Toronto/Ontario and Coastal BC as a whole there will probably be a decline because of the loss of manufacturing money. But in Alberta, where the oil is, I doubt there will be much of a blip.
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altyfc
Joined: 29 Dec 2004
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Location: Aardvarkland
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| Posted: Mon Jan 28, 2008 10:32 am Post subject: |
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Steep maybe, but not unrealistic, I don't think. People traditionally used to borrow 3x their earnings when getting a mortgage. That has spiralled out of control with self-assessed mortgages and the now receding buy-to-let market. Lots of people are going to be in for a nasty shock, I fear.
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capebretoner
Joined: 02 Aug 2006
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| Posted: Wed Jan 30, 2008 1:00 am Post subject: |
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I was watching a show the other days showing people in the UK trying to buy and sell their homes. They mentioned something about how the prices in some of the more rural communities have been skyrocketing all over Europe as people scramble to get their piece of the countryside.
Are you thinking that this 12% drop is going to be across the board, or just in the markets where the prices rose so steep in the first place?
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zuipen
Joined: 16 Feb 2008
Posts: 24
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| Posted: Sat Feb 16, 2008 4:52 am Post subject: Re: House prices in 2008 |
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| altyfc wrote: |
| The asking price for homes in the UK has fallen for the third month in a row and it seems clear that a downturn is on the cards... what do you think will happen to the property market in 2008 where you are? |
Here in Belgium the worst seems over as well but it is still very high. I expect it to continue to fall for the rest of the year.
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altyfc
Joined: 29 Dec 2004
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Wolverine
Joined: 06 Apr 2008
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| Posted: Tue Apr 08, 2008 10:29 am Post subject: |
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By me, in the U.S. I know prices have fallen quite a bit in New York and Florida for example. It seems like more softening is on the way.
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