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!
Daily Express Ramping - House Prices Are Up Again!
Comments
-
Rochdale_Pioneers wrote: »Some of you seem unable to grasp very simple principles of mathematics. If a number is higher than the previous one then it is an increase on the previous number. Either number's relation to the high point in the sries is utterly irrelevant to the movement between those two numbers.
House prices have dropped by *insert percentage here*. Now the numbers are showing month on month on month increases from the level they fell to. 1 + 1 is 2 no mattter how fascinating you may find it that before dropping to 1 the number was 4.
Thanks for the tutorial, however the piece refers in the main to asking prices as opposed to actual prices.
Common sense dictates that house prices do not increase in recessions."An arrogant and self-righteous Guardian reading tvv@t".
!!!!!! is all that about?0 -
The problem is the general public will believe this stuff. The vibe around my place of work is house prices are on the increase. Hopefully a negative Nationwide figure will be published next week and will put an end to all this ramping?
People can believe what they like....but if the banks say otherwise when it comes to valuing the property then people are going to be even more shocked when they are told their house is worth even less.
Only ONE person/persons in the chain of buying a house (with a mortgage) decides how much a house is worth....and it isn't either the buyer/seller or EA.
And the Daily mail using this as their front page isn't going to change the mind of a BankIf you find yourself in a fair fight, then you have failed to plan properly
I've only ever been wrong once! and that was when I thought I was wrong but I was right0 -
Rochdale_Pioneers wrote: »Some of you seem unable to grasp very simple principles of mathematics..... blah blah... rammblings of mad man.....
From the person that is unable to grasp the simple difference between asking and sale price...0 -
People can believe what they like....but if the banks say otherwise when it comes to valuing the property then people are going to be even more shocked when they are told their house is worth even less.
Only ONE person/persons in the chain of buying a house (with a mortgage) decides how much a house is worth....and it isn't either the buyer/seller or EA.
And the Daily mail using this as their front page isn't going to change the mind of a Bank
Its all about confidance in the market, for buyers, sellers and the banks.0 -
Its all about confidance in the market, for buyers, sellers and the banks.
But the banks don't have confidence hence why they are still strict at lending.....so again its just going to be a waiting game.If you find yourself in a fair fight, then you have failed to plan properly
I've only ever been wrong once! and that was when I thought I was wrong but I was right0 -
Somehow I can't see the banks being made confident to lend in a bear market on the basis of a headline in the Daily Express.0
-
I think it's fair to say banks lending a lot easier now than they were 6 months ago, LIBOR is dropping every day as well.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
-
But the banks don't have confidence hence why they are still strict at lending.....so again its just going to be a waiting game.
Confidence is slowly returning. The banks rapidly re-introducing 90% LTV mortgages is a key sign of this.
I remember people argued that once the recession and property falls hit the mainstream media, prices would fall even faster, and this has since been proved correct. Why wouldn't this work the other way round?0 -
Lets face the most important fact.
This is an ASKING PRICE INDEX.
Take for example, if I decided to put a house on the market for £20,000,000,000,000,000,000,000,000,000,000,000,000,000,000 I think it might just skew the figures somewhat.
Would that mean that house prices were rising? No, house prices have nothing to do with what people want for them, that is jsut an index of expectation.
All we can see here, is that people expectation has increased, not the value of the properties they are trying to sell.0 -
Lets face the most important fact.
This is an ASKING PRICE INDEX.
Take for example, if I decided to put a house on the market for £20,000,000,000,000,000,000,000,000,000,000,000,000,000,000 I think it might just skew the figures somewhat.
Would that mean that house prices were rising? No, house prices have nothing to do with what people want for them, that is jsut an index of expectation.
All we can see here, is that people expectation has increased, not the value of the properties they are trying to sell.
The EA will value the house before marketing it, so I doubt they will let you market a property so unrealistically.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.2K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.2K Work, Benefits & Business
- 600.9K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.1K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards