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Debate House Prices
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British Houses Headed for long term decline - Moneyweek.
Comments
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You're talking nominal drops as opposed to real drops in value. If the average wage was currently £50,000 & your house was say £200,000......
If average wages went up to £100,000 & your home was still 'worth' £200,000 in 10 years, it has lost value (in relation to money). When this happened in the past it made it easy for people to trade up to those big houses. With a lot of the current generation struggling to get on the ladder with very good jobs & salaries, how do you think they will be able to afford to buy anything larger?.
One way (nominal falls) or the other (real falls) it will happen.
I realise that but there’s not much chance of wages doubling in 10 years. I said it would take a long time for my house to lose 50% it’s taken average wages nearly 20 years to double that’s a long time in my book.0
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