House Price Boom Starts Again.......

nearlynew

HAMISH_MCTAVISH wrote: »

Innacurate, possibly. Overly optimistic, almost certainly.

But irresponsible? Far from it.....

What this country, and economy, needs now is a concerted campaign of good news to rebuild consumer confidence and spur genuine spending to solidify the recovery.

The more people believe the crash is over, the more likely it is to genuinely be over, as normal levels of activity come back.

Self fulfilling prophecy, and all that....;)

It doesn't work like that McTittish.

HPI will not come to your rescue.

You silly boy.


(ps any news on the maintenance costs of your "large detached rural property"?)

System

HAMISH_MCTAVISH wrote: »

Self fulfilling prophecy, and all that....;)

So is this the opposite of the "thrift paradox" that someone mentioned?

HousingBear

Food prices rise 1.2% a month. Petrol rises 1.2% a month. Car prices rise 1.2% a month. Would that be "good news"?

As for spurring "genuine spending", the house price boom 2000-2007 spurred spending based on MEW, i.e. increasing debt. We are now paying that debt back. Or do you believe that you can simply go on borrowing and spending on the basis of ever-rising house prices?

the_ash_and_the_oak

HousingBear wrote: »

Food prices rise 1.2% a month. Petrol rises 1.2% a month. Car prices rise 1.2% a month. Would that be "good news"?

As for spurring "genuine spending", the house price boom 2000-2007 spurred spending based on MEW, i.e. increasing debt. We are now paying that debt back. Or do you believe that you can simply go on borrowing and spending on the basis of ever-rising house prices?

that seems to be the model, passing the debt onto the children, via use not so much of an ever expanding population base, but an ever expanding ownership base

HousingBear

Oh, and at a time when interest rates are at a historical low, Ladies and Gents, I give you more good news.

Hamish? Are you there? This is the legacy of people overextending themselves to buy increasingly expensive houses...

StevieJ

HousingBear wrote: »

Oh, and at a time when interest rates are at a historical low, Ladies and Gents, I give you more good news.

Hamish? Are you there? This is the legacy of people overextending themselves to buy increasingly expensive houses...

We have had this one, seems like the numbers are going to rocket from 399k to 400k by the end of the year.

chucky

HousingBear wrote: »

Oh, and at a time when interest rates are at a historical low,

and don't forget to mention the cheapest house prices in a long time

gjchester

The only thing this says (and to the same extent all the doom mongers predicting big crashes), is basically none of the forecasters (both amateur and pro) have a clue to what will happen in the future.

As I have said before no-one predicted the crash correctly, why does anyone believe they can predict the recovery with any accuracy. The ONLY thing we know is that there have beendrops but recently modest rises for the last 5 months, predicting anything beyond today is to be perfectly honest just Crystal ball gazing.

Dan:_4

Lotus-eater wrote: »

Sweet Jesus. Another house price boom is good news is it?
You are so full of it.

To be fair to Hamish, he did state that it is highly unlikey to be accurate and very over optimisitc.

The point is that the general public will beileve it, and sentiment will get stronger.
This will not cause another housing boom, nor will it cause another crash.

pickles110564

nearlynew wrote: »

It doesn't work like that McTittish.

HPI will not come to your rescue.

You silly boy.


(ps any news on the maintenance costs of your "large detached rural property"?)

And your so called crash did not rescue you either :rotfl: