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Debate House Prices
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Not sure I ever done one of these.
Graham_Devon
Posts: 58,560 Forumite
Tin hats and handbags are on sale from my stall 
House prices in Britain have nowhere near bottomed out even after a 20% dive, the Organisation for Economic Cooperation and Development warned yesterday.
Property values are still 140% of their historic averages, suggesting further declines are unavoidable, the Paris forecaster warned.
Economist Petar Vujanovic of the OECD said: 'Affordability is still nowhere near back at what it has been historically. So we think it has got a way to go. House prices have fallen by only 20%.'
http://www.thisismoney.co.uk/mortgages/house-prices/article.html?in_article_id=481377&in_page_id=57&ct=5
House prices in Britain have nowhere near bottomed out even after a 20% dive, the Organisation for Economic Cooperation and Development warned yesterday.
Property values are still 140% of their historic averages, suggesting further declines are unavoidable, the Paris forecaster warned.
Economist Petar Vujanovic of the OECD said: 'Affordability is still nowhere near back at what it has been historically. So we think it has got a way to go. House prices have fallen by only 20%.'
http://www.thisismoney.co.uk/mortgages/house-prices/article.html?in_article_id=481377&in_page_id=57&ct=5
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Comments
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Economist Petar Vujanovic
Is he one if those experts on the UK housing market
Affordability is nowhere near. BR 0.5 wonder what he has been smoking, if he means liquidity i.e 90% mortgages, fair enough. '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 -
Graham_Devon wrote: »Property values are still 140% of their historic averages, suggesting further declines are unavoidable, the Paris forecaster warned.
Some one else done it on a daily mail story today.
Who actualy said the 140% as I can not find a quote by the OECD for that.
Just that they were above historical norms.
(I thought we were near to them) 0 -
Some one else done it on a daily mail story today.
Who actualy said the 140% as I can not find a quote by the OECD for that.
Just that they were above historical norms. (I thought we were near to them)
The rude people! Thought I had a unique story here
Were near to affordibility on a mean wage. But not on the median wage, which is afterall, what the average person takes home!0 -
Graham_Devon wrote: »The rude people! Thought I had a unique story here
Were near to affordibility on a mean wage. But not on the median wage, which is afterall, what the average person takes home!
Even the guys on the Dole could afford a house at the moment provided they could raise the deposit and loan Providing of course the VR was at historical level in relation to BR e.g. 0.5 + 1.5%. '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 -
House prices in Britain have nowhere near bottomed out even after a 20% dive, the Organisation for Economic Cooperation and Development warned yesterday.
Property values are still 140% of their historic averages, suggesting further declines are unavoidable, the Paris forecaster warned.
If they were 100% their historic averages that would make them fair value yes?
Or are they saving values are 140% above their historic averages? Like double and a bit?0 -
wolfplayer wrote: »If they were 100% their historic averages that would make them fair value yes?
Or are they saving values are 140% above their historic averages? Like double and a bit?
Thats the same way I read it. I.e. 40% overpriced against historic averages.0
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