Rightmove October +2.8%, London records biggest ever indice rise at 6.5%

IveSeenTheLight

Generali wrote: »

That's my point summed up very nicely. There's also probate and perhaps people moving for work.

We can all agree that there are people forced to sell, probate and need to sell i.e. to move for work, but that does not necessarily mean it will outweigh the number who [strike]desire[/strike]demand (desire and ability) to buy.

mbga9pgf

but that does not necessarily mean it will outweigh the number who desire to buy.

You better wait for next year then. Because the increasing number of forced sales as a result of terminating government support schemes is going to be a real shocker.

Cheap house for me though!

Generali

IveSeenTheLight wrote: »

We can all agree that there are people forced to sell, probate and need to sell i.e. to move for work, but that does not necessarily mean it will outweigh the number who desire to buy.

Desiring to buy doesn't matter. You have to have the money to buy, either to hand or by borrowing.

Loads of people want to buy a Ferrari yet demand is low. That's because people can't afford one.

The definition of demand at any given price is those willing and able to buy. Not 'people that quite fancy one'.

IveSeenTheLight

Generali wrote: »

Desiring to buy doesn't matter. You have to have the money to buy, either to hand or by borrowing.

Loads of people want to buy a Ferrari yet demand is low. That's because people can't afford one.

The definition of demand at any given price is those willing and able to buy. Not 'people that quite fancy one'.

Ok, let's be pedantic, I'm sure you understood what I meant.

But please feel free to substitute desire with demand i.e. the desire and ability.

You would be able to see that I have clarified the definition of demand before as having the desire and the abiliity.

IveSeenTheLight

mbga9pgf wrote: »

You better wait for next year then. Because the increasing number of forced sales as a result of terminating government support schemes is going to be a real shocker.

Cheap house for me though!

Are you taking pleasure from forced sellers who may be forced out of their home in order that you can get a cheap house?

I think it is you who are hopping for a better year next year as it hasn't materialised for you this year has it

chucky

Generali wrote: »

Desiring to buy doesn't matter. You have to have the money to buy, either to hand or by borrowing.

Loads of people want to buy a Ferrari yet demand is low. That's because people can't afford one.

The definition of demand at any given price is those willing and able to buy. Not 'people that quite fancy one'.

i think 'people that quite fancy one' is a bit more extreme than there being a demand or people making enquiries for property. despite people laughing at buyer enquiries meaning nothing - they do indicate sentiment and can be used as a lead indicator for the market - see below

Generali

IveSeenTheLight wrote: »

Ok, let's be pedantic, I'm sure you understood what I meant.

But please feel free to substitute desire with demand i.e. the desire and ability.

You would be able to see that I have clarified the definition of demand before as having the desire and the abiliity.

But that's precisely my point! There are forced sellers but not forced buyers.

If you get repossessed you have to sell. If the deadline for probate is coming up and you can't pay the death duties you have to sell.

If you're having a child and you want a house with a garden you don't have to buy although it would be very nice.

Now you've argued yourself into self-contradiction can we move on?

IveSeenTheLight

Generali wrote: »

But that's precisely my point! There are forced sellers but not forced buyers.

If you get repossessed you have to sell. If the deadline for probate is coming up and you can't pay the death duties you have to sell.

If you're having a child and you want a house with a garden you don't have to buy although it would be very nice.

Now you've argued yourself into self-contradiction can we move on?

I don;t think we can move on. I have accepted your point, but you do not seem to be able to accept mine, hence I will need to state in an alternative way.

My point is that while I accept forced sellers, it does not mean that there cannot be more people who wish (with the ability) to buy.

For every 1,000 forces sellers (include probate and need to sell for work etc) it does not mean there might not be 2,000 people who have the ability and the desire to buy. If this is the case, then where is the drive to lower house prices?

It could also be that there are only 500 people with the desire and ability and thus there is a drive to lower prices.

So far this year it would appear that demand (buyers) outweighs supply (sellers) hence price increases.

P.S. I didn't contradict myself, I clarified the statement for your benefit

Generali

IveSeenTheLight wrote: »

I don;t think we can move on. I have accepted your point, but you do not seem to be able to accept mine, hence I will need to state in an alternative way.

My point is that while I accept forced sellers, it does not mean that there cannot be more people who wish (with the ability) to buy.

For every 1,000 forces sellers (include probate and need to sell for work etc) it does not mean there might not be 2,000 people who have the ability and the desire to buy. If this is the case, then where is the drive to lower house prices?

It could also be that there are only 500 people with the desire and ability and thus there is a drive to lower prices.

So far this year it would appear that demand (buyers) outweighs supply (sellers) hence price increases.

Perhaps we're dancing around the same point.

<Bleedin' Obvious>
- There can only ever be the same number of purchases as sales in a market therefore demand and supply must always be equal if prices are free to react to buyers and sellers. Prices will and must always adjust in a free market with large numbers of buyers and sellers to ensure the market clears. It is not possible to have more sellers than buyers or buyers than sellers at any given price. If 1,000 people want to sell at a price and 2,000 wanted to buy, prices would increase until perhaps 1,200 sold and 1,200 bought. No other outcome is likely in a free market.
</Bleedin' Obvious>

If I mistook you for someone that didn't understand that basic truism of economic life then I apologise.