Are residential property prices now fairly valued?

chucky

according to the HPCers favourite graph - we were at the right level in Q1/Q2 2009.

purch

I like graphs :T

Bootski

Yes they are fairly priced, or were!

Dropped mine but despite one offer no go.

Going up again now by 10-15£ - looking forward to selling it soon with the extra

Almost thought there, for a while, I'd have to sell it for a song!!!

Crikey!

HAMISH_MCTAVISH

carolt wrote: »

There are so many things wrong with that post it's difficult to know where to start.

How can 1 man be so wrong?

Sorry, did you have something to contribute?

Perhaps a reasoned debate of the three established measures of housing affordability? Earnings multiples, percentage of income spent on mortgages, and long term mean.

No?

Well then perhaps you'd like to show, with referenced and sourced material that my figures are incorrect?

You can't?

Ah well then, you'd best continue to sit on the sidelines making rude comments because you have nothing meaningful to say.:rolleyes: It's what we all expect of you anyway.

Radiantsoul

I am with Julian LeGrand.

I am not sure what is meant by "fair".

carolt

HAMISH_MCTAVISH wrote: »

Sorry, did you have something to contribute?

Perhaps a reasoned debate of the three established measures of housing affordability? Earnings multiples, percentage of income spent on mortgages, and long term mean.

No?

Well then perhaps you'd like to show, with referenced and sourced material that my figures are incorrect?

You can't?

Ah well then, you'd best continue to sit on the sidelines making rude comments because you have nothing meaningful to say.:rolleyes: It's what we all expect of you anyway.

As I said, Hamish, it would take too damned long and I really have better things to do with my life.

I have devoted a few seconds of it to wondering why you have this big hang-up about property prices, and then..let it go.

Don't know you, never will.

I'm sympathetic, really I am. I hope you sort it out one day.

nollag2006

carolt wrote: »

As I said, Hamish, it would take too damned long and I really have better things to do with my life.

I have devoted a few seconds of it to wondering why you have this big hang-up about property prices, and then..let it go..

So why do you keep coming back time and again to comment on it and to start misguided threads that are ripped to pieces within hours?

Is it because, not only have you missed the boat this time, but you also missed it in 2007 when the property market peaked and you sat on your hands in a cosy government job?

But not to worry, I'm sure your children will thank their professional educated parents, whom the taxpayer subsidised, for them taking the moral high ground as the housing market just pulled away from them time and again

:rotfl:

carolt

Cosy government job?

SLITHER99

I know a few people looking. The stuff on the market right now in a lot of places is absolute junk! And really, they're the kinda houses that wouldn't have been worth much more than they're up for now before the downturn. In reality, I think a large proportion of it is that nobody's selling decent stock given the public image and lack of credit particularly to first time buyers. So they're just not selling! The stupid HIPs are another cherry on the failcake!

It's this simple. It would have to be a very extreme set of circumstances for anyone to let their house sell for way less than they bought for! Nobody is going to chuck themselves into £15k of debt for a sake of a house. Apart from situations like divorce where it has to be sold, or somebody selling their deceased grandparents' home, etc. Nobody's selling good stock! I certainly wouldn't sell my house for what it's worth right now "on paper". After the renovation, my initial purchase price, not a chance! And I'm not alone! Nobody I know in their right mind would sell for less than they bought for! It's simple economics.

The people who do want to move are either people who are 15 odd years down the line and are looking for a simple relocation, whcih 9/10 times is simply numbers on a page, or people who have high LTV who will not get a remortgage in the current markets which means they are stuck where they are.

Two of the guys I know house hunting are in dreamland! One went as far as making a house offer to find that his £8,000 deposit wasn't enough to get a £200,000 mortgage. Yet the common line is that houses should be £99.99 and be in a trendy area with lots of amenities and once they have bought they want it to shoot up to a cool million to earn themselves a nice little nest egg just like all those horrid rich bankers who took all our money, blah blah blah!

At the end of the day, it will get better. And as long as you keep sight, a house is something you buy to live in. Of course it will increase in value, but a house is a home first and foremost.

I would shadow the idea that wages are too low, they simply are. For what we get taxed by nu labour, people are simply not paid enough!