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House prices
Comments
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IveSeenTheLight wrote: »Certainly the correction of 2008 dropped more nominally and as a percentage than it did in the 90's
Absolutely. The price falls in 2008/9 were far bigger than in the 90's. It was the biggest crash in history.What we may have seen is a sharper, faster correction than previously,
Indeed.“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 -
Good point about looking locally, its looking great for me and things are coming down nicely.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 -
IveSeenTheLight wrote: »
2. Historical performance is no gaurantee of future expectancy. There are many different fundamentals which affects this correction and means it will possible be different from previous corrections. this is clearly seen on the graph as the early 80's correction did not go far below the trend with the 90's one did.
The 2.9% straight line long term trend is specific to today. Back in the 1980's, this trend would be lower and the undershoot would be apparent. If you studied boom and bust of the property market, this undershoot below the long term trend "as it is at the time" seems to always occur, though there is no guaraentee that it will occur. It is due to a combination of factors that are symptomatic of the economic conditions at the time.0 -
fast_fourier_transform wrote: »The 2.9% straight line long term trend is specific to today. Back in the 1980's, this trend would be lower and the undershoot would be apparent. If you studied boom and bust of the property market, this undershoot below the long term trend "as it is at the time" seems to always occur, though there is no guaraentee that it will occur. It is due to a combination of factors that are symptomatic of the economic conditions at the time.
As prices rise ever further upwards over the next few decades, the trend line will also rise.
It will appear that todays prices "undershot" the trend.... When in fact they didn't (by much) at the time.
It is likely this also was the case previously.“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 -
There's alot of lies put out by banks and the government who have a vested interest in claiming that house prices are steady. The fact is house prices have fallen massively, are falling at the minute, and will continue to fall for the next few years at least.Hi all.
Not sure if this has been asked before, sorry if it has.
I keep hearing people say house prices currently are at 2009 prices, or 2007 levels etc. As a FTB that has only just recently taken an interest in the market, I'm not sure what these levels are. I'm guessing 2009 prices were low, was 2007 prices lower than 2009 and where are we now roughly?
Anyone know? Thanks in advance0 -
Doctor_Gloom wrote: »There's alot of lies put out by banks and the government who have a vested interest in claiming that house prices are steady.
So when the banks and government claimed house prices were falling, were they also lying then?
Or is it just when prices are rising that they become liars?
Oh, and while we're at it, the hundreds of thousands of individual sale prices recorded on the land registry, are they all fake?
And who sets these fake prices? Is it a lucky coincidence that all the indices show similar rises, or is there a national bureau of house price fakery that mandates what the prices will be?The fact is house prices have fallen massively, are falling at the minute, and will continue to fall for the next few years at least.
I'm surprised all houses aren't 50p by now, what with all those falls, falls, falls....“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 -
Thanks for the information all0
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House prices are currently at August 2010 levels. In three days time they will be at September 2010 levels. They might go up, down, or stay exactly the same. Anyone claiming to know which of these will definitely happen is a liar, or an idiot. Buy the house you want at a price you are willing to pay.I keep hearing people say house prices currently are at 2009 prices, or 2007 levels etc. As a FTB that has only just recently taken an interest in the market, I'm not sure what these levels are. I'm guessing 2009 prices were low, was 2007 prices lower than 2009 and where are we now roughly?Been away for a while.0 -
Running_Horse wrote: ». Buy the house you want at a price you are willing to pay.
At a price you can really afford.0 -
Go and have a read of the housepricecrash.co.uk website - they have numerous graphs, stats and figures on house prices in the UK. Read the general forum there and also have a look at the regional forums for your own area to get an idea of what other sellers and buyers think currently.
Also go to Moneyweek's website and have a long read of the numerous articles they have there on UK property.
Hope this helps.
This is not financial advice.This is not financial nor legal nor property advice. Consult a paid professional if in doubt.0
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