House prives to rise by 10% each year: Nationwide report out today!

breadlinebetty

The Nationwide have predicted that house prices will rise by 10% this year, and the rend will continue into next year and the year after that.

Good news for those struggling at the moment (hang on in there and soon your property will be paying for itself) but a wake-up call for those renters who were hoping for further price falls so they could pick up a bargain. I hope they can still get onto the ladder - but they'll have to act quickly, the train's about to leave the station.

http://www.dailymail.co.uk/news/article-1246953/House-prices-rise-10-year-Mortgage-lender-predicts-biggest-increase-2007.html

boomerangs

With your complete lack of financial knowledge it's little wonder you're still stuck on the breadline Betty. And probably always will be!

Radiantsoul

boomerangs wrote: »

With your complete lack of financial knowledge it's little wonder you're still stuck on the breadline Betty. And probably always will be!

A bit rude....

nollag2006

boomerangs wrote: »

With your complete lack of financial knowledge it's little wonder you're still stuck on the breadline Betty. And probably always will be!

Oh dear! That was a bit snide and cheap even for you !

I saw this, and though of you boomerangs...




:rotfl:

Radiantsoul

I am not sure the originak source, http://www.nationwide.co.uk/hpi/historical/Jan_2010.pdf, suggests prices will continue to rise by 10% going forwards. Rather it asserts the mathetical certainty that if prices increase in February then there will have been a year on year increase of 10%.

Nationwide seem to have decided, probably wisely, not to make many forward looking statements!

System

It does suggest that, even the dailymail have started ramping as well, awesome!

abaxas

Great news.

I cant wait for property to be so expensive no one can buy or sell it :P

Graham_Devon

So what do we do if the rises do continue at 10% a year?

What happens when more and more people can't afford them?

Maybe we could have something like 110% mortgages. Then move up to 125% and maybe even 140% mortgages.

On top of that, the extra could be in the form of personal loans, on interest only mortgages.

Then people will still be able to get a house. Dunno if this causes future problems though? I mean, they can't really afford them, but that don't matter as we can create ways for them to be able to get them. All sorted, and 10 years later their house will have more than doubled in price anyway, so they can take the equity they made from that one and start the process all over again on another house thats now worth 34x their wages.

We could call it something catchy. I dunno, erm, sub something.

Bloody good news all this isn't it. We should start opening the babycham.

Someone get me a new star for my badge. I'm a genius.

nembot

Wish pure heat coal would light faster :mad: and LOL @ the article.

Asheron

Do you people really believe this?

ahahahaha

chucky

Asheron wrote: »

Do you people really believe this?

ahahahaha

no......................

but the amusing thing is that you're missing is that all the predictions are positive or more less stagnant growth for UK house prices...