MSE News: Nationwide: strong house price growth in January

dots_thots

I believe the government and banks are aiming for a silent decline. What we need is a huge correction so housing becomes affordable again but they know that if nominal prices fall, the banks will be forced to admit insolvency and it will kick of a snowball effect of defaults and more price declines.

The aim of the game now is to inflate or die! They've shown their hand already with bailouts and money printing.

They'll keep nominal prices high, while the real values drop like a stone and it will be savers and earners who pay for it. Measured against other real assets they've already taken a whack. House prices have dropped but so has sterling, so the values have already dropped further than people realise.

I'm gonna measure prices in gold and silver and that way I'll be able to detect the bottom.

Once again, they get everyone to focus on prices, not values.

de1amo

İ remember the crash of the late 80s and there were less ominious signs in the economy than at present--the prices are high now and we are living with huge personal and mortgage debt--the 80s saw a property bubble that went pop over night and a massive correction--as i read this site i see more reason for concern than running up to that mess!

b0rker

westv wrote: »

Can anybody explain why, if prices are going up overall, the supply of properties appears to remain greatly depresssed?

They were building about 20 new houses a month in Inverness before the recession.

I see no new houses being built anywhere in Inverness now and have not done so for over 2 years...

It is strange to think that the recession lasted for a whole 2 years.

It's nice now that it is over.

nembot

There are a million empty homes and 600k on Rightmove.

The old chestnut "shortage of houses" fools only, the unaware.

Need two quarters of growth to be officially out of recession, 0.1% is hardly growth in the best performing quarter of the year.

System

nembot wrote: »

Need two quarters of growth to be officially out of recession

Our survey says:

EHH EHH.

Cleaver

nembot wrote: »

There are a million empty homes and 600k on Rightmove.

The old chestnut "shortage of houses" fools only, the unaware.

I think a foolish view of a 'housing shortage' would be to look at how many empty homes there are in the UK along with how many homes are currently advertised for sale on a website and conclude from this that there is / isn't a shortage of homes. It's all about local areas, type of housing, quality of build, living trends, social demographics and a whole host of other stuff.

I should point out that I'm not arguing whether there is or isn't a housing shortage in this country, I'm just saying that your method of assessment is akin to me adding up how much food there is in the world, working out mathmatically whether it is enough to feed everyone then deciding based on this whether there is such thing as food shortages.

StevieJ

Must be a quiet day on HPC today

StevieJ

nembot wrote: »

Need two quarters of growth to be officially out of recession, 0.1% is hardly growth in the best performing quarter of the year.

Where do you get that one from?

StevieJ

de1amo wrote: »

İ remember the crash of the late 80s and there were less ominious signs in the economy than at present--the prices are high nowand we are living with huge personal and mortgage debt--the 80s saw a property bubble that went pop over night and a massive correction--as i read this site i see more reason for concern than running up to that mess!

Wait a minute house prices virtually doubled in a short space of time, and then BR doubled, you might have been around but your recollection is not very good.

LAWSON - BOOM not mean anything

StevieJ

Osama Bin Laden has just sent a new TV message to prove that he is
still alive.

He said "City were rubbish on Wednesday night."

British Intelligence have dismissed it saying: it could have been
recorded at any time in the last 34 years.

Whats had 34 MOT's and not moved.......City's open top bus!