Merryn Somerset Webb talks falling UK house prices on BBC

Merryn Somerset Webb, editor of Moneyweek, explains why now is not a good time for first time buyer to get on the property ladder.

Category:

News & Politics

Tags:

• house
• price
• crash
• Merryn
• Somerset
• Webb
• Moneyweek

[sugarraygras]

Sellers dont always have the priviledge to decide when and for how much they should sell. If you cant cover your morgage payments you sell for whatever you can get. So the prices can drop by whatever amount. There will be a slight recovery over summer months because there are people with real wealth in which to invest, but the overall house pricecs will stagnate for many years and the get rich schemes should be over for good!

[sugarraygras]

People used to make investment in property with along term view to making a capitol gain over 30 yers but in the last decade they started making the investment with a view to an 30% return over 3 years. Those days are gone forever...or should be!

[sugarraygras]

Name a time in economic history when you have seen this before!,,,,never. We have never been here before! At least 4 yrs! Beware of another bubble coming soon!Buy gold!

[sugarraygras]

All of these supposed experts didnt even predict the crash. A few years ago they were saying prices would never fall again, which turned out to be incorrect. Be very careful regarding new talk of early 'green shoots' recovery it is a lie. The facts...House prices are massively over-inflated. Governments are massively over exposed....banks are really bankrupt and are being held up by the governments using fiat currencies and the general population are in debt to the turn of 3 trillion pounds.

[jayangli]

4 yrs. u think so. It can only rise so much but it can only fall so much. In the vid, she sais that sellers wont drop the price so much.

[sugarraygras]

I have been saying this will happen for the last few yrs but I have only just come back into fashion with my friends who thought I was living in the past. They were right! This happens every 15 yrs or so, only this time the bubble was far bigger then ever before, so too will the crash that follows! Check out the history of the south sea bubble.Very similar bubble with different investment vehicle.Hold it down!

[auders]

Sounds like you've done your homework! I appreciate your comments sugarray, and you'll be pleased to know i'm looking to move, but rent for the forseeable future!

[sugarraygras]

it will take 4 yrs for the prices to bottom out. Dont buy untill then. The current climate is merely the beginning. We are in debt as a country to the tune of 3 trillion, but rescue packages are in billions, Usa are in debt at 14 trillion. These figures dont include Existing national debts of the countries. No easy recovery is in sight in my view! Good luck!

[auders]

You reckon? Think you're right about the safety part given the current climate!

[sugarraygras]

You wont need to buy one soon renting will be far cheaper and safer in the future!