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Debate House Prices


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Surely House prices will always go up

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Comments

  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Surely House prices will always go up

    Of course they will.
    “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”
  • andrewmp
    andrewmp Posts: 1,798 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    HAMISH_MCTAVISH wrote: »
    Of course they will.

    They always go down too, at some point. Overall long term trend has always been up though. As long as people see a house a somewhere to live in and not a short term investment then it's all good.
  • thor
    thor Posts: 5,512 Forumite
    Part of the Furniture 1,000 Posts
    House prices may certainly go up in the long term but there is no physical law that states it must do so. Just saying 'but house prices always go up' is no guarantee. So prices have risen for hundreds of years but can someone tell me why they can rule out a fall over the next thousand? I don't think you can. Nobody can predict with 100% certainty.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    edited 5 August 2010 at 5:35AM
    When we build houses at the lowest rate siince 1924 and grow our population at the fastest rate on record, as is happening today, there is no doubt prices will rise significantly. Short term, minor fluctuations are likely in either direction, but long term significant price rises are already built into the system, and were inevitable from the moment the crash caused building to fall off a cliff.
    “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”
  • Sibley
    Sibley Posts: 1,557 Forumite
    Ninth Anniversary Combo Breaker
    Basically, I think what we are trying to get across is that anyone who posts on House Price Crash website about price falls will never own a property.
    The either sold to rent thinking they were clever and have been priced out and lost a fortune paying somebody elses mortgage, or never had or will have the funds to buy.

    I hope everything is black and white now.
    We love Sarah O Grady
  • andrewmp
    andrewmp Posts: 1,798 Forumite
    Part of the Furniture 1,000 Posts Name Dropper Combo Breaker
    edited 5 August 2010 at 10:53AM
    Sibley wrote: »
    Basically, I think what we are trying to get across is that anyone who posts on House Price Crash website about price falls will never own a property.
    The either sold to rent thinking they were clever and have been priced out and lost a fortune paying somebody elses mortgage, or never had or will have the funds to buy.

    I hope everything is black and white now.

    I think house prices will fall, I did in 2007 too, still didn't stop me buying in 2008 - it did however save me 30% as I got my house for 30% less than it was for sale for in 2007 when I rented for year as it was clear everyone was asking too much then.

    I was told by several people in 2007 I was a mug for renting and it was dead money. I spent £5000 in rent but saved about £30,000, also didn't have to service the debt for a year which was about the same price as the rent anyway. I guess it's all about timing.

    I think it'll be worth less than I paid for it eventually but it's my home so as long as I keep my job I don't care really.
  • Dirk_Rambo
    Dirk_Rambo Posts: 387 Forumite
    Sibley wrote: »
    Basically, I think what we are trying to get across is that anyone who posts on House Price Crash website about price falls will never own a property.
    .

    oh no. not another hpcrash.co.uk reject that ends up over here.
    good luck to all the same, i hope your enjoying it
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