MSE News: Halifax: house prices up for third successive month

chucky

Graham_Devon wrote: »

You said it yourself. 1.6% is a big big jump.

Non sustainable too. The last crash may be over, but look at what we are now creating. A bigger boom than the previous one.

the truth is there are people continuosly prepared to pay more than the previous month for a house and pricing out others who may be waiting to to buy - who will probably jump on at some point because they think they'll be priced out further.

Graham_Devon

chucky wrote: »

the truth is there are people continuosly prepared to pay more than the previous month for a house and pricing out others who may be waiting to to buy - who will probably jump on at some point because they think they'll be priced out further.

I don't know. The numbers are too low IMO to back up that theory.

I personally think that what has happened is the recession has now been forgotten. Like it never really existed. Remember crimbo last year? Everyone pretty much was feeling it, but since then the government has had stimulus going, maybe too much of it? Because it's created a boom in several indicators.

I wonder where house prices and markets, including personal debt etc will be by the time of an election?

I'm thinking a lot higher than now. But I'm sure you will agree, this is not in any way sustainable. It's less sustainable than last time round, and these rises just make it more and more precarious.

I have asked for explanations of how this is sustainable in the past, and got nothing. I don't deny it's happening, I don't deny I was wrong. But I do deny this is sustainable.

chucky

Graham_Devon wrote: »

I'm thinking a lot higher than now. But I'm sure you will agree, this is not in any way sustainable. It's less sustainable than last time round.

i'm not sure i know what i'm meant to be agreeing with here.

sustainable that house prices rise by a lot by small amounts, stay flat, go down another correction?

Graham_Devon

chucky wrote: »

i'm not sure i know what i'm meant to be agreeing with here.

sustainable that house prices rise by a lot by small amounts, stay flat, go down another correction?

Sustainable in that they keep rising at the same pace as they have since february. I.e. how they did in the previous boom. Because that's what they are doing right now.

What's october gonna be? 1.8% up?

We are now in the exact same position as we were in the boom leading up to the recession. However, this time around, we are doing it on the back of an economy which only 18 months ago, without massive intervention, would have died a death and taken us all with it.

Strange world.

chucky

Graham_Devon wrote: »

Sustainable in that they keep rising at the same pace as they have since february. I.e. how they did in the previous boom. Because that's what they are doing right now.

What's october gonna be? 1.8% up?

i have to agree that they're not going to be increasing at this rate and will have to flatten out at some point. maybe early next year.

what i don't agree on is that they're going to have to drop - for me they will then flatten out and stagnate for a good while.

nickj_2

surely the average house price is beyond the means of the average house buyer borrowing a realistic amount and being able to live within their means without having to be up to their necks in debt on the plastic because they have no money to live .
we need to get away from the notion that rising house prices make you feel rich - they don't , the only benifit is when you downsize or die - then your kids get the benifit . the high cost of housing means that alot of people can just about afford the mortgage but they have no money for anything else unless they hit the plastic
we need higher interest rates to take a lot of heat out of the market , if not we are just storing up even more pain that will be greater than ever

Crash_Over

(IMG:http://3.bp.blogspot.com/_eNAobQy6sN0/SNwPcFMwa9I/AAAAAAAABec/y-SS5Gx9YNQ/s320/sad%20bear.jpg)

the_ash_and_the_oak

StevieJ wrote: »

That is what Dopester told us, although I think he was expecting the repo/separation/death to dominate :eek:

Yes it was!

I kind of didn't really agree with it then either!

the_ash_and_the_oak

Really2 wrote: »

No they represent all house buyers.
Figures are not made up from people thinking about buying.

In reality most people buy because they want to and because they can. They are not after the bottom or gain, just a steady home to start a family etc.

Totally agree w this! My take on it is not that people are not prepared to buy (at whatever price) because they quite clearly are (imo sentiment has never taken a knock at any point), my take is whether people are ABLE to buy or not (eg things like 90% at 5x salary now changed to 90% at 3.5x salary)

chucky

Really2 wrote: »

I don't think the Halifax data has not been updated on that yet chucky old chap.

here's the updated on