Housing Affordability has peaked, now decreasing

nearlynew

Scarter - emy and graham are talking about selling at the market value.

They just think, as I do, that it would be better all round if the market value of all houses was lower.

[Deleted User]

nearlynew, but the point of my question is to find out whether people feel strongly enough about this to take a stand.

In my neck of the woods we're still in a situation where some propertise are selling for significantly MORE than market value simply because there is a bidding war between more than one person. If you were in that situation would you refuse to take more than market value? Would you insist on taking less than market value because you felt that house prices were too high?

Because unless large numbers of people are willing to take that stand I don't see house prices going down. Too many people and too few houses - that'll push prices up even if a large percentage of the population can't afford to buy.

nearlynew

Deleted_User wrote: »

In my neck of the woods we're still in a situation where some propertise are selling for significantly MORE than market value..........

That, my dear, is impossible.

chucky

Deleted_User wrote: »

nearlynew, but the point of my question is to find out whether people feel strongly enough about this to take a stand.

no he won't take a stand - he's a typical HPI cheerleader that owns four houses, won't sell them at 3 times average earnings and wants to make the most out of HPI. sad but true

nearlynew

What are you on about chucky?

Emy1501

Deleted_User wrote: »

Sure, I'm sure we'd all just grin and bear it if that was all we were offered.



And I'm sure most people would think likewise.

But what if your house was valued at £100k and you got offered say, £100k by a young family on modest income and offered 200k by someone older with lots of disposable income that just had their heart set on our house. Would you have the courage of your convictions?

I can honestly say I'd take the £200k and that would be entirely in keeping with my view on the matter of house prices.



Absolutely no!!! But I've not heard anyone that wants house prices to rise try to pretend it's out of concern for the youngsters. We want house prices to rise so that we make more money. It's no different from wanting interest rates low when your debts are greater than your savings and interest rates high when your savings are greater than your debts. Anyone that's bought or inheritted shares surely wants the price to go up rather than down?



I don't think it's an irrelevant, pointless question. It's a question that highlights the fact that we're all really on the same side - looking after our own interests! Some of us are at a stage in life where house prices going up would benefit us. Others are at a stage in life where house prices going down would benefit us. Whatever happens some people will gain and some will loose out. Some are trying to take the moral high ground and fool us into thinking that they aren't out for themselves but simply concerned about the youngsters. I don't buy it - sorry.

What I will say is that if you really do what to help others then the more money you have the better able you are to do it. Just by being in a position to spend right now you're helping a lot.

Emy1501, surely if you had an inheritence in 7 figures you'd be able to help your kids and lots of other people to buy. Whereas if you sold it of cheap (because of your convictions) who would you help? I don't think your kids would thank you. All you'd do is let one lucky sod make a huge profit at their expense.

And what about when it came to selling YOUR house? Would you sell it at valuation price? more if you could get it? Or would you have the courage of your convictions and sell it at a much lower price that you think youngsters can afford?

Im not going to sell my property on the cheap to anyone and my kids will get all my inheritence as I suspect they will need it way more than I will and hopefully I will be to old to need it when it comes along. The reality is though what happens to their kids and so on. I dont want to see my Grandchildren living 10 to house just to fund peoples HPI. Sorry people can go on about how hard their life were etc but I know my first home cost three times my wages and I know that my children and grandchildren will be paying for the greed and !!!! ups of those before them.

Bang on about how much we all need HPI but the Credit crunch around the world has shown just how much craving HPI has cost us and will cost us but of course it will not be those who caused it who will be paying for it though.

Thrugelmir

Deleted_User wrote: »

Because unless large numbers of people are willing to take that stand I don't see house prices going down. Too many people and too few houses - that'll push prices up even if a large percentage of the population can't afford to buy.

If a large proportion of the population can't afford to buy, then the outcome is obvious.

chucky

nearlynew wrote: »

What are you on about chucky?

you're a multiple property owner - that's just selfish.
you're increasing the value of your own property by not selling it to someone who needs a property to live in.
you're a HPI cheerleader

chucky

Thrugelmir wrote: »

If a large proportion of the population can't afford to buy, then the outcome is obvious.

up to the 1970s the majority of the population did not own property - it did no harm to values... :rolleyes:

it's only obvious if you wear blinkers

Thrugelmir

chucky wrote: »

up to the 1970s the majority of the population did not own property - it did no harm to values... :rolleyes:

it's only obvious if you wear blinkers

Different times. Different market.

BP was still a nationalised industry back then.......

Look ahead at the wider picture.