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Debate House Prices
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Boiiiiiiiiing ........ splat
Comments
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According to some yes.
But according to others we are going to see stagnation followed by lots of mid term growth. Or even (in some areas) just growth.
Either way I wouldn't like to hang my hat on it, nor try to use such supposition to deny that historically over a period measured in decades rather than months, house prices do only go one way...
Well whilst you might think you are thinking long term in reality you may not be, rather than decades think centuries. House prices in Japan have been faling for 16 years and are half their peak value. http://www.intmath.com/Money-Math/house-prices-japan.gif0 -
By all means I wouldn't sell my house for less than market value, but I wouldn't buy a 2nd,3rd,4th... expecting the younger ones to pay for my pension.
Houses should be homes, not investments. I know that is an idealistic point of view but a lot of people would benefit. I do believe there should be a lot more taxes on seconds properties so it isn't as an attractive deal as it has been.
Definately say a 20% purchace tax on a second home, and a 30% on the third and so on up to 90%.0 -
House prices in Japan have been faling for 16 years and are half their peak value.
Property prices in some Tokyo areas hit a price of $1,000,000 a square metre at peak.
Yes, One Million US Dollars per square metre.
A 200 square metre property, about the size of a decent 4 bed detached, would be 200 million dollars.
A small broom cupboard of a couple of metres, cost the same as a 17 bedroom Georgian Mansion in England at the time.
Tokyo prices have fallen for 20 years, some districts lost 90% of their value. And they're STILL more expensive than prime inner London.
And whilst we're on the subject, China is currently looking a tad bubbly, with one third of Beijings residential property transactions last year ocurring at a price level in excess of 80 times average salary.
No, that's not a typo, one third of transactions in Beijing were in excess of eighty times average Beijing salary.
Bubblicious.....
The UK is nowhere near bubble territory. Wasn't at peak, isn't now.
When we have a property bubble the size of Tokyo, or Beijing, then talk to me about multi decade losses.
Until then, you're dreaming.“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
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JonnyBravo wrote: »Yes of course we do....
MWA HA HA HA HA......
MONEY!!!!!!!
Why do I get an image of you sitting in a big chair stroking an evil looking cat?Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
Well whilst you might think you are thinking long term in reality you may not be, rather than decades think centuries. House prices in Japan have been faling for 16 years and are half their peak value. http://www.intmath.com/Money-Math/house-prices-japan.gif
Yeah, that's what I was refering to Kronkston. Japanese house prices....
In support of your point (I think) tho, there is an oft used graph which shows UK house prices over the last hundred years - It's pretty clear which way the trend goes.Go round the green binbags. Turn right at the mouldy George Elliot, forward, forward, and turn left....at the dead badger0 -
By all means I wouldn't sell my house for less than market value, but I wouldn't buy a 2nd,3rd,4th... expecting the younger ones to pay for my pension.
Houses should be homes, not investments. I know that is an idealistic point of view but a lot of people would benefit. I do believe there should be a lot more taxes on seconds properties so it isn't as an attractive deal as it has been.
OK but thats you. You are entitled to fund your pension any way you please. As am I...
By the way whether or not you choose to go into BTL, young people WILL fund your pension (if pensions are still around when you get to the right age). The money you pay now is funding the pensions of current pensioners.
Finally there is alot of irony here. On the one hand posters are suggesting that there should be some consideration of people trying to get onto the housing ladder. At the same time, those same posters are hoping for a massive fall in the market knowing that the result is that a number of ordinary families (not just BTL) will suffer dearly as a result. Just goes to show that this is a market and it is every man for himself.0 -
The point is that the BTL'ers in my area buy up all the cheap houses which puts them in direct competition with the FTB'ers which is causing a false demand as such and pushes prices upwards. Every house a BTL'er buys means there is one less for the buyers market.
As for familys being kicked out of there houses, I don't want it to happen, but adversely if they can't afford they house they are in then should they be allowed to stay. Give them breathing room in cases where jobs have been lost etc they should get back on there feet, but in cases where they have simply bit off more than they can chew then I don't really have much sympathy.
I can see how in the long term trends say it will increase in value and is a safe investment to which I think there should be heavier taxs on this to bring it inline with other investments.
Basically they goverment should be bringing in measure to make the houses available to people who actually want to live in them.
Basically its a very selfish behaviour which is fair enough int he each for there own idea, but have you considered that if it carries on it will affect you children/grandchildren/great grandchildren as it will push us into a situation where a minority own the majority of the houses. The chain needs to be stopped before its too late.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120 -
Yeah, that's what I was refering to Kronkston. Japanese house prices....
In support of your point (I think) tho, there is an oft used graph which shows UK house prices over the last hundred years - It's pretty clear which way the trend goes.
That is your big mistake though, you are only looking over the past 100 years, try extending that over 500 years or more and you will I think find prolonged periods of house price falls. Anway which way do you think prices will go over the next 5 years given that we as a country have such a huge debt, forcast to be about 1.4 trillion?0 -
That is your big mistake though, you are only looking over the past 100 years, try extending that over 500 years or more and you will I think find prolonged periods of house price falls. Anway which way do you think prices will go over the next 5 years given that we as a country have such a huge debt, forcast to be about 1.4 trillion?
Why stop there? Why not since the dawn of time? Or better still, since before time itself?
Come on now ....how about we stick with prices since the industrial revolution and call it quits.
Oh and I have no idea where prices are going. Hopefully up? The economic backdrop is a tad concerning granted (!) but equally there appears to be rather more people in the UK than there used to be and I'm a big beliver in supply and demand...
Ah well, either way I'll be fine. (selfish possibly, but fine nevertheless)Go round the green binbags. Turn right at the mouldy George Elliot, forward, forward, and turn left....at the dead badger0
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