MSE News: Nationwide: house price rises easing

Emy1501

HAMISH_MCTAVISH wrote: »

The few million people approaching retirement who may want to downsize and release equity benefit.

The 5 million people in or close to negative equity benefit.

Anyone looking for a remortgage with less than 40% equity benefits, as thats what you need to get the best rates.

Even those in a home for life with no mortgage benefit, as it gives them a bigger safety net if anything happens, or to leave to their children.

Investors with multiple homes benefit.

Pretty much all of the existing owner occupied homes benefit, either now or later when they downsize or leave it to the kids.

Large sections of the economy benefit..... The banks, the house builders, their hundreds of thousands of employees, and the services that their taxes pay for all benefit.


In fact, the only people that in theory do not benefit is a few hundred thousand potential FTB's..... Because the oft repeated bear meme that upsizers also benefit turned out not to be universally true in this particular crash, as FTB properties fell further than bigger ones.

So a few hundred thousand who don't benefit, versus tens of millions who do.

No choice at all in a democratic society as to which group will win out.

Politicians love HPI more than a fat kid loves cake.... And for good reason.

:rotfl:

I wonder how FTB will buy in 20 years time? With wage inflation at 2-3% they will probably need to earn the equiv of 80K today just to by the average 1 Bed flat.

The Credit Crunch has proved than HPI above inflation is a bad thing. The BOE have confirmed it and are making noises about how to control it. When the BBC did their Property week months ago their poll actually confirmed that the majority do not want higher house prices.

As for the economy benefiting well again thats rubbish as what we are seeing at the moment is homeowner spending more and more on their mortgage meaning they do not have any money to spend on anything else.

Also as we keep being told by people like you house ownership is not for the many therefore with time only the minortiy will own and therefore in the elections of the future few will be interested in a party which keeps prices high and therefore out of reach of the ordinary man in the street.

In respect of MP's I suspect many of their properties are in London and I suspect we will always have high HPI in Central London. I doubt many care what happens to HPI outside of this area.

House prices that rise roughly in line with inflation is all we need and all we will get soon with the usual boom and bust. I think you are living in the land of the Wilsons if you think prices are going to double or so every 10 years in the future.

You really are like the person at the top of a pyramid scheme who tells all the people at the bottom do not worry its a great idea and everyones a winner in the end when in reality you know at sometime many will get burnt. All you are interested in is lining your own pockets. I suspect you know HPI at above normal wage inflation cannot go on for ever but as long as it goes on until its time for you to retire or jump then stuff everyone else.

IveSeenTheLight

Joeskeppi wrote: »

Didn't expect this at all! Still, it's slowing down it seems.

Is it slowing?
According to the NW seasonally adjusted index, it was a 0.5% increase in November and also a 0.5% increase in October

Nominally it increased £222 in October and £764 in November

IveSeenTheLight

Stay_tonight_in_a_lie wrote: »

Doubt Mr.B would appreciate you accusing him of being Scottish ? :rolleyes:

Why not?
Surely its a compliment to be assumed to be Scottish

adr0ck

ukcarper wrote: »

Standard of living a lot better than it was when I first got married

that may be true (i don't know how old you are)......but standard of living will be dropping in the decades to come

lostinrates

StevieJ wrote: »

Then again a lot of the young ones wouldn't dream of living in the conditions their parents grandparents were born in to
What no car:eek:

In the generation that was my granparents at my age Beeching hadn't done his worst and there was more local employment. (actually my grandparents did have cars though)

Cleaver

abaxas wrote: »

They are the same apart form one point. Bears want cheap housing for themseles, which in effect is community driven. But bulls want anything but for themselves, the community/social aspect is lost.

Maybe the bull/bear argument is nothing to do with housing, but the break down of community and the rise of indiviualism?

I'll say it again, but just once more I think:

This bull / bear cr*p with regard to housing exists only on this forum and possibly other odd areas of the internet. And it's bullish and bearish, you can't be one or the other. 99.99% of people out in the real world buy, rent and sell property without any of this stupid level of analysing, detail and debate. We are just weird on here.

"Break down of community and rise of indivualism". Ye gods. Get out there and have a look at the real world, there is no bull / bear battle, just people getting on with it all. I bet 90% of people don't even know what a bull or a bear is in regard to financial terms - and why would they? They are terms best reserved for pure financial markets, not the housing market where the vast majority of people don't have a view either way.