How would you feel if house prices fell by a third?
 

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 Posted by Buildingstoat  July 5, 2017 at 2:26 amFrom 212.159.99.x  Report Abuse 
 
I want to say both. It would be 'a good thing' for society at large but personally I would be worse off.

However, whether prices go up or down it would be wonderful if the whole process of buying and selling houses were quicker and simpler (and ideally cheaper) than it is.
     Posted by Mark Wadsworth in reply to Buildingstoat  July 10, 2017 at 9:54 amFrom 81.106.8.x  Report Abuse 
     
    Reduce the cost by scrapping SDLT (and council tax) and having LVT instead.
 Posted by The Cowboy Online  July 4, 2017 at 9:56 amFrom 86.31.148.x  Report Abuse 
 
Another vote for 'Pleased'; it wouldn't be great for me personally, I would be stuck with negative equity, but I wouldn't lose my home and it would mean others would be able to get one.
 Posted by Bayard  July 4, 2017 at 9:53 amFrom 31.50.129.x  Report Abuse 
 
I had to vote "angry", but not because I think my wealth has been diminished, but because I buy houses and do them up as a sideline and I've just bought one.
 Posted by James James  July 3, 2017 at 8:48 pmFrom 69.191.176.x  Report Abuse 
 
This is beside the point.

1. What would really make people better off is if rents fell.

2. It doesn't matter much if rents don't fall. What matters is that they should go to the state.
     Posted by Mark WADSWORTH in reply to James James  July 4, 2017 at 9:42 amFrom 81.106.8.x  Report Abuse 
     
    Agreed.
 Posted by Bemused  July 3, 2017 at 7:47 pmFrom 81.131.125.x  Report Abuse 
 
Generally happy for those starting out.
Sad for recent buyers pre price reduction and for one reason or another need to sell up. Unconcerned for those of us who own our houses.
 Posted by Wigner's Friend  July 3, 2017 at 7:05 pmFrom 86.148.244.x  Report Abuse 
 
Third choice, or amend first to add: sorry for those who have fallen into negative equity
     Posted by formertory in reply to Wigner's Friend  July 3, 2017 at 9:55 pmFrom 146.185.16.x  Report Abuse 
     
    Yes - I intended to make the same comment.
    Negative equity may be the result of gross stupidity at all kinds of levels (governmental, legal, economic, fiscal, as well as personal) but it's a personal disaster for those caught, who can't or won't move, and bad for their employers and for the economy. I keep trying to point out to people that if banks - and I presume they do - still have to make provision for bad and doubtful debt, and write off chunks of it, then we're a hop, skip and a jump away from Banking Liquidity Crisis 2 and it won't matter whether Carney wants to hold interest rates down, lending rates will be going up to match risk (reversion to SVR etc).

    We are soooo screwed.


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