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Debate House Prices


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Bulls and Bears don't exist

123457

Comments

  • MiserlyMartin
    MiserlyMartin Posts: 2,289 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    I don't think anybody is doubting the long term benefits of home owning. The debate is more the case for buying now at near top of the market with negative factors all pushing for price declines for the foreseeable future.
  • the_ash_and_the_oak
    the_ash_and_the_oak Posts: 1,636 Forumite
    StevieJ wrote: »
    So you don't wish prices to fall to buy a cheaper house, fair enough :confused: I was merely pointing out what vested interest can mean.

    Not really, no

    Prices falling aren't really going to do v much for my parents either imo
    Prefer girls to money
  • the_ash_and_the_oak
    the_ash_and_the_oak Posts: 1,636 Forumite
    IveSeenTheLight wrote: »
    Thank goodness for that.

    So you believe flats in London (where you have been looking recently) will be lower in 5 years time. Ok.

    Not sure. imo they could be lower or around the same. They could be higher too - but not by enough to cover the extra monthly payments plus buy/sell costs. I don't really see flats being significantly higher than today so don't really see the point in buying one imo
    Prefer girls to money
  • IveSeenTheLight
    IveSeenTheLight Posts: 13,322 Forumite
    the_ash_and_the_oak wrote: »
    Not sure. imo they could be lower or around the same. They could be higher too - but not by enough to cover the extra monthly payments plus buy/sell costs. I don't really see flats being significantly higher than today so don't really see the point in buying one imo

    Everyone has their opinion, only time will tell ;)
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    MiserlyMartin wrote: »
    I don't think anybody is doubting the long term benefits of home owning. The debate is more the case for buying now at near top of the market with negative factors all pushing for price declines for the foreseeable future.

    When I was a lad houses always seemed at the top of the market.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • the_ash_and_the_oak
    the_ash_and_the_oak Posts: 1,636 Forumite
    StevieJ wrote: »
    When I was a lad houses always seemed at the top of the market.

    When I were a lad they were all in a row on either side of the street
    Prefer girls to money
  • MiserlyMartin
    MiserlyMartin Posts: 2,289 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    StevieJ wrote: »
    When I was a lad houses always seemed at the top of the market.
    They weren't when I was a young FTB. They were easily affordable on 2.5 times our joint income.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    MiserlyMartin wrote: »
    They weren't when I was a young FTB. They were easily affordable on 2.5 times our joint income.



    No problem for you then, that would be five times single income then.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • MiserlyMartin
    MiserlyMartin Posts: 2,289 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    No it was 2.5 joint and 3 times single in those days. Those days were only 13 years ago - pretty recent considering. In 13 years the house has quadrupled in value. Have earnings quadrupled in 13 years? Theres your answer.

    But its ok because houses are going up despite rising employment in no ordinary recession. The lack of sellers, QE and near zero interest rates make a very strange cocktail in these strange and troubling times.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    MiserlyMartin wrote: »
    No it was 2.5 joint and 3 times single in those days. Those days were only 13 years ago - pretty recent considering. In 13 years the house has quadrupled in value. Have earnings quadrupled in 13 years? Theres your answer.

    But its ok because houses are going up despite rising employment in no ordinary recession. The lack of sellers, QE and near zero interest rates make a very strange cocktail in these strange and troubling times.

    Thirteen years ago was right at the bottom of the market after eight years of falling prices/stagnation, if you couldn't buy then on five times income equivalent then you would never be able to buy. BTW my area has just about tripled in twenty years, all about choosing your starting and finishing dates icon7.gif
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
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