Experts say wait 5 years to buy back into property

besonders1

the_ash_and_the_oak wrote: »

in 1996 houses in zone 2 north london were between 1/4 and 1/3 of prices today.

I'm not totally sure but i kinda think salaries were not between 1/4 and 1/3 of salaries today

I know you wouldn't believe it compared to todays prices for the same houses (which estate agents and vendors seem to have forgotten). I could understand them increasing by 20/30% but not around 200%!

the_ash_and_the_oak

considering we are talking about bottoms of markets thought it a good idea to compare with previous bottom of market. interesting questions about affordability and 'always difficult to buy a house'

Wookster

Dan: wrote: »

Long term, yes.

That is a bold statement.

Dan:_4

Wookster wrote: »

That is a bold statement.

Not really. Do you think house prices will be worth more or less in 30 years?

Harry_Powell

Wookster wrote: »

That is a bold statement.

I have trouble with the 'house prices always go up' statement too (if that's what you mean with your brief statement above ). If you average out the peaks and troughs, aren't house prices just keeping pace with inflation?

hearts

Harry_Powell wrote: »

I have trouble with the 'house prices always go up' statement too (if that's what you mean with your brief statement above ). If you average out the peaks and troughs, aren't house prices just keeping pace with inflation?

If your statment is true then that makes him right ;-)

In the long run all things that are of limited supply always increase in value. I have no idea how long it will take, but unless something happens to start our population decreasing, eventually house prices will again reach 2007/8 levels and then pass them.

I should really narrow down the "All things" there are exceptions.

SingleSue

I would say house prices go up up up, down down down, up up up, down down down, up up up....and finally ending up after that higher than they were when they first went up up up.

Confuzzled myself now

Wookster

Dan: wrote: »

Not really. Do you think house prices will be worth more or less in 30 years?

Who knows?

Global warming continues and sea levels rise? A dirty bomb goes off in London? The economic crisis turns into UK's version of Japan's lost decade (House prices in Japan haven't recovered to their boom peak).

Its a bold statement and in these times nothing can be taken for granted.

bryonyhines

I have been getting into these arguements for years, and the only thing we know is

1) we all want something from this situation

2) no one can predict the future accurately

3) in these severely capitalist times it is almost certain that greed and selfishness are commonplace, which explains some of the previous posts.

4) S**t happens.

:beer:

A._Badger

Rats! I hit 'thanks' instead of reply.

What I wanted to do was to say that your point 3 was rather wide of the mark. Forget the fashionable cant about 'capitalist times' - at what point in history can you suggest people behaved significantly differently for any reasonably long period of time?