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!
where do you think house prices will be in 10 years?
Comments
-
I know it's against what we have been brainwashed to think in the last 10 years, but nothing really has changed, debt is not wealth.
Neither is rent
unless you are receiving it. 'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
Thats because salaries increased as fast if not faster than house prices so salary:house price ratio did not increase.
Income 1974 = £2916, Income 1979 = £6000, = x2.06 increase
Income 2002 = £26644, Income 2007 = £35549 = x1.33 increase
House prices increased by approx by x1.75 for both periods, so ppl taking higher % of income to buy their house or get better property quicker.
http://www.mortgageguideuk.co.uk/first_time_buyers/mortgage-income-ratios.html
Can't see income increasing at 70's rates either.
I can only speak from experience but in 1972 houses in the road I bought went from £5350 to£10,000 and wages certainly didn’t follow suite. I am not saying high multiple value mortgages don’t effect house prices I think they do but just that with strict borrow rules in place houses can rocket. I notice the figure you use are late 70s0 -
Disagree with this, ironically it doesn't matter where you step on the ladder, but what is pretty much a certainty is that when you move 'up the ladder' you are taking on more and more debt. So even though you may feel richer, unless you have won the lotto or been given some inheritance the chances are you will be poorer.
It's a bit like 'rich Bev & Kev' and 'poor Bev & Kev' in that crappy daytime advert, when they pulled up by the side of each other at the traffic lights, the advert portrayed 'rich Bev & Kev' were better off because they had a newer car, that facts were they were poorer, because their newer car was funded by more debt.
I know it's against what we have been brainwashed to think in the last 10 years, but nothing really has changed, debt is not wealth.
in real terms your dept will be the same ie if your wages only increase with inflation and the same rules are applied when you get your mortgage the mortgage only increas by the same percentage0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.1K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.2K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.8K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards