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Debate House Prices
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Mortgage Lending for new purchase up 19%.
Comments
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HAMISH_MCTAVISH wrote: »Actually, it's the removal of HIPS that cause the supply glut, as the kite flyers returned to the market.
Yes, it's causing a supply spike, but this will be temporary, as the reality is that most people simply cannot afford to sell at a significant discount.
If prices fall, supply will once again fall off a cliff, and we know what happens then.....
I have been monitoring properties for sale over several towns in the South of England since January and I can say that, without doubt, the removal of HIPS had no impact on the current high level of supply. It began late Feb/early March long before any announcement on the subject, in fact in the few weeks around the HIPS removal, levels were flat at best before continuing the upward trend as before and has continued albeit at a more gradual upward trend to today.Debt Is Slavery.0 -
Henry_P_Chester wrote: »I can say that, without doubt, the removal of HIPS had no impact on the current high level of supply. .
Unsurprisingly, the experts disagree with you.....
http://www.bbc.co.uk/news/10603905The increase in new instructions was mainly a result of the removal of Home Information Packs."“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: »
They like to put reasons behind everything and this was one that seemed to fit, just a bit ill timed when you look at the data.Debt Is Slavery.0 -
Thrugelmir wrote: »A long way from the boom years that drove prices upwards.
Prices were rising in 2009
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Graham_Devon wrote: »When they reach an affordable level, they will stop falling. Without excessive lending, it will become a stable market.
They HAVE to adjust, to reach stability. Everyone knows that, so I'm surprised you are picking up on something so idiotically basic in all truth.
It's really all very simple.
Need we pull out the Nationwide graph again?
Remember it showed falling prices back to the long term trend taking in the peaks and the troughs for the last 30 years.
Now it seems it's following the long term trend pretty closely.
Pretty simple really
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Henry_P_Chester wrote: »If less are people are buying and less people can buy what happens to prices?
Surely it would also depend on what's happening to the supply of property.
Are they flooding the market or being withdrawn?:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »Need we pull out the Nationwide graph again?
Remember it showed falling prices back to the long term trend taking in the peaks and the troughs for the last 30 years.
Now it seems it's following the long term trend pretty closely.
Pretty simple really
Can do if you like. So long as you remember the trend line is pulled up by higher prices.0 -
Groan - how many times GrahamGraham_Devon wrote: »Can do if you like. So long as you remember the trend line is pulled up by higher prices.
It's also pulled down by the troughs of the previous corrections.
Can you remember that now Graham?:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Graham_Devon wrote: »Can do if you like. So long as you remember the trend line is pulled up by higher prices.
Here you go, see if it helps
:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Can you see the curvature.
Oh, do I see a trend line argument?0
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