Giantaxe

Right, but as I tried to point out to the OP this works both ways for folks who bought prior to the current bubble. Whilst I agree that prices are now declining because a minority either bought houses they couldn't afford or have remortgaged themselves to the hilt, the only reason that prices got as high in the first place is because of that very same lax lending. The bubble has been very beneficial to pre-bubble property owners (such as the OP), even if their houses are now declining in value, so selling for less than what the house was "worth" at the peak of the bubble doersn't seem particularly "unfair" to me. What I do agree is unfair is the inevitability of taxpayers in general paying for this mess down the road.

trottytrue

If they decline both here and in the UK I will be fine with that. The problem is that with all the new rules for home buyers and morgage companies being in alot of trouble they are making it very hard for people to buy homes, which in a way is good but it also makes it hard to sell.

Giantaxe

From a financial point of view, that makes sense. From a "fairness" standpoint, I don't see the connection. And buyers in the US couldn't care less what's happening to the UK market.

As it happens, prices appear to be declining in the UK too. If I was in your position, I would be tempted to price my US property 10% under comps and then rent for a while in the UK.

Tableland

Not so fair to all the people that bought houses in the last three years though, eh?

backagen

Not fair to them if they're wanting to sell no, but unfortunately it's just market forces at work and they're nothing to do with 'fairness'!

Tableland

I agree, as it happens. My problem is with the greedy idiots who contribute to the market forces in the first place.

Giantaxe

Noone is forced to buy a house. I certainly have some sympathy with people who've bought in the last three years, but the fact is that they've chosen to buy property even with prices at the insane multiples versus income/rents that typified the bubble.

Ian12

Jude has never let me down when searching for a paqrking place and I am not even a catholic. :-)

Tableland

Many of them bought following a concerted and heavy brainwashing programme by central government and the banks and the media that told them house prices were safe and a good investment. Even now, we have people like Blanchflower on the MPC arguing for rate cuts to try and hold back the crash just so a corrupt system which functins by putting people in debt their whole lives can continue.

Globalcommunismiscoming

The US currency will crash and the US will default on its debt- thats a fact. If you want to move to the UK do it now because the situation will only get worse.

Tableland

I agree. Most western currencies are giong to be worth zip in a few months' time.