MSE News: Halifax: House prices up again in August (+0.8%)

Graham_Devon

julieq wrote: »

The point is that you're are suggesting other people should do what you wouldn't yourself do for the general good, i.e. to sell their assets at a low price.

Where did I suggest this?

If you won't sell at a low price to benefit others

Where did I suggest this?

All you're left with is the fictional notion that somehow BOE rates tripling to 1.5% will force a mass sell off.

Where did I suggest this?

IveSeenTheLight

It will be interesting in the coming months.
We'll possibly see positive month on month figures next next month again, then from Oct / Nov start seeing the negative drops again.

Will they be accepted as many have said they expect to be over the winter months or touted as the second wave crash coming?

Really2

IveSeenTheLight wrote: »

Will they be accepted as many have said they expect to be over the winter months or touted as the second wave crash coming?

No brainer

Graham_Devon

IveSeenTheLight wrote: »

It will be interesting in the coming months.
We'll possibly see positive month on month figures next next month again, then from Oct / Nov start seeing the negative drops again.

Will they be accepted as many have said they expect to be over the winter months or touted as the second wave crash coming?

Interesting question.

I think it depends on the entire economic outlook at the time. The way I see it, house prices dropping again could damage sentiment, and in the process, damage sentiment all across the economy.

That in itself could lead to a "second wave". Just as it did before.

This time round however, most of the cards have been played. We are at 0.5% rates, we have got 175bn pumped into the economy, we have had industrial stimulus.

At the same time, unemployment is still going up and will do for a while I would assume.

Personally I think it could be the "second coming". I'm not sure we, as a nation, can take the inevitable bad news and gloomy sentiment lowering prices could create, as many people will feel cheated buying into the "houses have recovered" talk in the press.

If they do fall by large percentages monthly (say over 1%) I think more people wil stand up and realise this is not over yet, and there is more to come, which will only damage us further, and all this at a time when we will have to start looking at paying back the debt we have created as a country.

I do think reposessions, and familes really starting to feel pain will be the actual tip of the iceberg though, in terms of house prices an where they go. So far, the work the BOE and government have done has been able to hold these scenario's to a bare minimum, but they are going to have to start asking us to pay them back for their work, and are going to have to let us stand on our own two feet a little. Whether reposessions become more commonplace is yet to be known, but judging by some of the debt statistics, and those looking for help now, I do think rising reposessions / bankrupcies is slightly inevitiable. The money to keep this al going without the BOE and Government, and without further lending on top of current debt, just isnt there.

On another note, I can see a general election soon.

inspector_monkfish

Graham_Devon wrote: »

Interesting question.

I think it depends on the entire economic outlook at the time. The way I see it, house prices dropping again could damage sentiment, and in the process, damage sentiment all across the economy.

That in itself could lead to a "second wave". Just as it did before.

This time round however, most of the cards have been played. We are at 0.5% rates, we have got 175bn pumped into the economy, we have had industrial stimulus.

At the same time, unemployment is still going up and will do for a while I would assume.

Personally I think it could be the "second coming". I'm not sure we, as a nation, can take the inevitable bad news and gloomy sentiment lowering prices could create, as many people will feel cheated buying into the "houses have recovered" talk in the press.

If they do fall by large percentages monthly (say over 1%) I think more people wil stand up and realise this is not over yet, and there is more to come, which will only damage us further, and all this at a time when we will have to start looking at paying back the debt we have created as a country.

I do think reposessions, and familes really starting to feel pain will be the actual tip of the iceberg though, in terms of house prices an where they go. So far, the work the BOE and government have done has been able to hold these scenario's to a bare minimum, but they are going to have to start asking us to pay them back for their work, and are going to have to let us stand on our own two feet a little. Whether reposessions become more commonplace is yet to be known, but judging by some of the debt statistics, and those looking for help now, I do think rising reposessions / bankrupcies is slightly inevitiable. The money to keep this al going without the BOE and Government, and without further lending on top of current debt, just isnt there.

You tell 'em GD !!

chrishoar

I must admit after reading about three pages of this thread it really is utterly pointless. I'm so confused as to why so many people here are so horrible / desperate, I joined about two weeks ago looking for thoughtful debate and I think this will be my last thread.
For what it’s worth my predictions are as follows:
House price fall next month, then stagnation through Christmas.
Falls in the new year as VAT rolled back.
General Election later on in the year, new government introduces cuts in public sector.
Pressure builds on homes, force sales, house price correction back in full swing.
Quantitative easing withdrawn / Inflation in wider economy increases = interest rates rise
No return to wholesale money market influx for many many years
Personally after reading many people’s comments on here I couldn’t give a damn what you think, the venom is really quite vicious and as I’ve said before I can only attribute that to desperation, be it admitted or not.
(Responses = he doesnt like it that house prices have risen / some comment about HPC or whatever...pathetic!)

inspector_monkfish

chrishoar wrote: »

I must admit after reading about three pages of this thread it really is utterly pointless. I'm so confused as to why so many people here are so horrible / desperate, I joined about two weeks ago looking for thoughtful debate and I think this will be my last thread.
For what it’s worth my predictions are as follows:
House price fall next month, then stagnation through Christmas.
Falls in the new year as VAT rolled back.
General Election later on in the year, new government introduces cuts in public sector.
Pressure builds on homes, force sales, house price correction back in full swing.
Quantitative easing withdrawn / Inflation in wider economy increases = interest rates rise
No return to wholesale money market influx for many many years
Personally after reading many people’s comments on here I couldn’t give a damn what you think, the venom is really quite vicious and as I’ve said before I can only attribute that to desperation, be it admitted or not.
(Responses = he doesnt like it that house prices have risen / some comment about HPC or whatever...pathetic!)

hey dude, don't let it get to you.
we're not all bad on here
i'm quite nice

wolvoman

chrishoar wrote: »

I must admit after reading about three pages of this thread it really is utterly pointless. I'm so confused as to why so many people here are so horrible / desperate, I joined about two weeks ago looking for thoughtful debate and I think this will be my last thread.
For what it’s worth my predictions are as follows:
House price fall next month, then stagnation through Christmas.
Falls in the new year as VAT rolled back.
General Election later on in the year, new government introduces cuts in public sector.
Pressure builds on homes, force sales, house price correction back in full swing.
Quantitative easing withdrawn / Inflation in wider economy increases = interest rates rise
No return to wholesale money market influx for many many years
Personally after reading many people’s comments on here I couldn’t give a damn what you think, the venom is really quite vicious and as I’ve said before I can only attribute that to desperation, be it admitted or not.
(Responses = he doesnt like it that house prices have risen / some comment about HPC or whatever...pathetic!)

If the economy re-lapses, where would the inflation come from?

mr_fishbulb

chrishoar wrote: »

Personally after reading many people’s comments on here I couldn’t give a damn what you think, the venom is really quite vicious and as I’ve said before I can only attribute that to desperation, be it admitted or not.

Nearly everyone in the UK has a vested interest in house prices. It is the largest purchase people will make and can cause a lot of financial problems if it turns sour.

Couple that with the innate human fear of losing an argument on an Internet message board, then the claws come out and it is not pretty

Plus some people have an amazing ability to antagonize.

gman20_2

mr_fishbulb wrote: »

Plus some people have an amazing ability to antagonize.

I disagree with your opinion! :rotfl: