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Debate House Prices
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U.K. House Prices Rise 0.2% in May as Low Supply Boosts Values
Comments
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Presumably the converse is also true.
Very possibly. (Other than the likelyhood that housing will be the last thing to be cut, and restraint in other expenditure is more probable)
I've never dismissed the possibility of real terms stagnation or even decreases for the next few years......
Although I have repeatedly pointed out that this in no way benefits potential house buyers as wages are unlikely to keep up with HPI, even if HPI is below RPI.
What I think is still unlikely is a significant crash in nominal terms.“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 -
“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 -
High value house sales in London are driving the 'rises'. Our economy is in a terrible state and there will be cuts which will damage house prices.0
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High value house sales in London are driving the 'rises'.
Actually the Land Registry and Scottish RoS show actual sold prices have risen significantly in every region of the country. Not just London.Our economy is in a terrible state and there will be cuts which will damage house prices.
Perhaps. But falling house prices would also damage the still fragile banks, and then the wider economy.“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 -
HAMISH_MCTAVISH wrote: »Even if wages don't keep up?
Well to be fair Hamish, wages and actual prices are worlds apart and have been for many years - hence the position we're now experiencing.0 -
They care at election time and that's only to keep the sheep happy.
Once that's over, they don't give a monkey's!0 -
StiflersMom wrote: »From a politician's point of view, they also know there is no votes in a house price decline. Just look at how the electorate punish Major in 1992 and Brown in 2010, both of whom oversaw the house price crashes in their respective parliaments.
This government will be painfully aware of that precedent, and will do all they can to avoid the same fate.
Well that's one "painful" precedent I've never heard of: Gordon Brown being punished for a house price crash.
But then, I have a sneaking suspicion that Gordon Brown (and his successors) aren't aware of it, either.
What he and his ilk *are* aware of is the electorate's impatience with Governments that prove themselves lethally incompetent in the managament of the country's economic affairs. Hence: the Tories out then, Labour out now.
I'm all for people defending their corner, including house price rampers, but the delusion that Gordon Brown left office because of a house price crash really does smack of utter desperation. . .0
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