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House Prices Soar By 10%
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A flat market for many years is also a scenerio I have considered. I have considered many outcomes. But putting all that money into such an uncertain asset is something I just can't risk when appearing still overvalued today.i can't really tell you house prices will fall or rise - but for me i can't see them falling in nominal terms unless the credit markets dry up again.
but i can see it in falling in real terms with a very small level of HPI or prices staying basically flat for 18-24 months.
prices falling in real terms usually means savings and house deposits are eroded by inflation and are less effective.0 -
Houses are homes for people, making them quite special commodities. Sorry to bring a human element to this weird game of monopoly that seems to be going on in the country.
I'm all for speculating to accumulate but why not race horses or art?0 -
HAMISH_MCTAVISH wrote: »Actually it's very easy.
There's a reason they call it an "inflationary dash for assets".....
If you believe high inlfation is the way forward, then you should be leveraging up to the max and buying as much property as you can.
Couldn't agree more.0 -
I was watching "Blitz Street" at the weekend whcih was about the world war 2 bombings and they were blowing houses up to test the bombs! I was expecting an outrage on here but I guess no one saw it.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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Hamish - post #43?
No comment on the stats?0 -
HAMISH_MCTAVISH wrote: »Well technically only the owners..... Renters, not so much.
But the average homeowner is now worth approximately £17,000 more than they were a year ago.
Which equates to roughly 38,850 cadbury Twirls.......
http://www.coffeebuyer.co.uk/mall/productpage.cfm/thecoffeebuyer/_TWIRL
Whereas the Sunday Express owner is only richer by 1 cadbury Twirl......;)
That depends if they are moving and buying a 50% more expensive house, as a result they will be 19,425 Cadbury Twirls WORSE OFF on average, inlfation adjusted of course.
As well as the extra in Stamp duty they will pay Unlike FTB's, the extra in Inheritance tax their kids will have to pay when they inherit it, due to ZERO movement in the IHT thresholds. As well as the Legal charges and extra £1k in mortgage fee's they will pay, as they change their mortgage, that have normally been amortised into the value of interest rates.
As well as paying this extra mortgage, with the bigger house, out of less money as the NI rate rise kicks in, and the lack of increase in Personal Allowance kicks in... yes its all rosey for 70% of the UK's population at the moment.
Have we ever had it so good?
But thats ok, as we can inflate it away... oh, you mean it will be easier as prices go up, yes of course it will, instead of spending 200 per month at the supermarket lets spend 300 per month. Then we will be even wealthier. Oh, I forgot, we arnt getting payrises this year... oh, so that means... Yes you got it, your worse off.
Time for a change, time to let labour spin their way out of government, and DO ONE!...
I wonder what they will be spending all that extra wealth on?
Oh I know... thats right... you got it in one... DEBT.Plan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0 -
HAMISH_MCTAVISH wrote: »
You just knew I couldn't resist......:beer:
Can we have the reporters reasons why prices have risen by 10%?
Does this mean the whole of the UK?0 -
Why don't all us young people just go for mass suicide?
The reason we can't buy is because we were born too late, good luck to all those left behind, sorry there will be no generation below you to support you, but you can all have 2-3 houses each.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
Can we have the reporters reasons why prices have risen by 10%?
Does this mean the whole of the UK?
Here's the article.
http://www.express.co.uk/posts/view/171286/House-prices-soar-by-10-
He's used factual figures to show that house prices nearly rose 10% according to Nationwide.
The reporter explained this asThey are being buoyed by a perfect storm of pent-up demand, the seasonal spring rush, low interest rates, more affordable property prices and evidence that the banks are at last lending again.
The daily mail also has a similar headline (came up during my goolge search for "house prices soar by 10%")
http://www.dailymail.co.uk/news/article-1268671/Spring-arrived-house-prices-soar-10-year.html:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Why don't all us young people just go for mass suicide?
The reason we can't buy is because we were born too late, good luck to all those left behind, sorry there will be no generation below you to support you, but you can all have 2-3 houses each.
Bit dramatic.
Talking about support from below, there are theories that this is supported from downsizers and from inheritance.
Talking about inheritance, there are a far greater number of homeowners now to previously and what happens to the assets when the owners pass away?
You were not born too late, I know people in their early 20's that have bought in recent years.
Sure some areas are more expensive than other, but that boild down to greater demand.
You have options, it's up to you whether you achieve your goals or not.:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0
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