We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Is the credit crunch really ending?
Comments
-
nollag2006 wrote: »:rotfl: :rotfl:
No they are not !!! Currie is a muppet who can't read
YoY prices are down about 4%, or according to Nationwide/Halifax 'adjusted' figures, around 1%.
However Nollag.... here's a fun exercise for you. Have a look at what prices at the peak of the market last year and compare them to now. You will get a real treat!!0 -
nollag2006 wrote: »:rotfl: :rotfl:
No they are not !!! Currie is a muppet who can't read
Discussed in a different thread... here is the synopsis
House prices dropped by 3.7% using bare data.
House prices dropped by 0.9% using halistats 3 month rolling average system.0 -
Discussed in a different thread... here is the synopsis
House prices dropped by 3.7% using bare data.
House prices dropped by 0.9% using halistats 3 month rolling average system.
There are too many variables and too many inconsistencies to draw too much from this data in isolation. The reason Halifax take a 3 month rolling is in an attempt to smooth out those inconsistencies.
The key is to watch the trend and see where it goes from here.....
....the next 9-12 months are going to be interesting.0 -
You'll have to explain how houses are going to continue to rise 'service as usual' when they are many times out of kilter with earnings.
Why does everybody refering to the average house-price/earning ratio just base things on one persons salary?
Most people buy a house with someone else, usually a partner. Person A earns 22k, they can get 4x their salary, they can buy an 88k house. They wont get very far... person B joins the party and they have a combined of maybe 40k. They can buy a 160k house. For that money they will get a good house.
Yes, only people doing quite well earning good money can buy a good house on their own, but why is that unreasonable? why should any 'ol bloke on the street be able to go and buy a nice house? It isnt our right to be able to afford a house.
We look at our elders and see they have a really nice detached 4-bed which they bought for £50k way back when I think we should be able to have the same. We earn more money than they did so whats going on??... People also ram on about the last price crash, and how prices have ramped up so much so they can plummet back down the same. does anyone even know times have changed drastically?
It seems to me we are at the peak of a credit panic due to the insane media hype, and lending is at the worst it will get. I cant claim to be as clued up as many but I think people will start borrowing again in the not so distant future.
50% drops will only potentially occur on outrageously overpriced flats in less than ideal locations etc (IMO). there is no way on gods green earth that will be even close the to the average (IMO again).0 -
MarkyMarkD wrote: »That Guardian article contains very little accurate information.
No change there then
0 -
It seems to me we are at the peak of a credit panic due to the insane media hype, and lending is at the worst it will get. I cant claim to be as clued up as many but I think people will start borrowing again in the not so distant future.
The credit crunch can't reach a peak till the US housing market stops dropping in prices. The big banks are still doing large right downs. On top of that the British sub prime market is starting to kick off, we are 18months behind the US.
:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
0 -
Yes, only people doing quite well earning good money can buy a good house on their own, but why is that unreasonable? why should any 'ol bloke on the street be able to go and buy a nice house? It isnt our right to be able to afford a house.
That's all very well when you are talking about houses but when it takes a couple to even get a small 1 bedroom flat then you have problems.
Here in London when they say that houses are priced a 4 times income they really do mean 4 times the income of the couple. They probably even add the kids paper round money to lower that stat.0 -
but when it takes a couple to even get a small 1 bedroom flat then you have problems.
Well those are the properties which I think will take the biggest hit. I sometimes forget about the huge gulf between london and northern prices...
Drops will vary drastically around the country and those generalisating and talking of 35-50% drops seem rather narrow minded.
Around me prices dont seem to be budging much at all.0 -
Around me prices dont seem to be budging much at all.
Its still early yet and there are lots of people in denial. Here in London its 6+ times salary to get a cheap one bed in say Ealing.
However the prices are coming down fast now as London is continuing to show the biggest falls.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
Save our Savers
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.8K Banking & Borrowing
- 254.5K Reduce Debt & Boost Income
- 455.6K Spending & Discounts
- 247.6K Work, Benefits & Business
- 604.5K Mortgages, Homes & Bills
- 178.6K Life & Family
- 262.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards