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Debate House Prices
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Halifax Hpi September 2010 -3.6%
Comments
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we get to buy in at cheaper prices and cheaper rates.
Which still won't make up for the £2400 a year you'll lose from child benefit.
Win-win situation, clearly.
.
Clearly.“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 -
Could you explain to me when prices were at the same level as today on the graph please.
The graph doesn't show house prices, it shows the % change in HPI.Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
So Hamish, how have you benefitted from today?
Average prices have fallen over 6 grand. feeling the pain there sat with multiple home ownership?0 -
The fact is it is very unlikely they will go up much at all until the economy is improving
Low interest rates and high inflation = falling living standards as wages fail to match growth in prices (current situation)
Higher interest rates to control inflation = higher mortgage = falling living standards.
Either way less money for buying houses.0 -
HAMISH_MCTAVISH wrote: »
1. People pull their houses off the market, just like last time, supply falls off a cliff and prices rebound.
Maybe. But this isn't in any way sustainable.
Maybe, but this isn't in any way sustainable.2. The BoE panics and pulls the trigger on QE2, mortgage availability increases and prices rebound.
Maybe, but this isn't in any way sustainable.3. The government panics and pulls the trigger on additional direct assistance for the housing market as any serious, and more importantly sustained, drops would trigger a double dip recession in the wider economy and threaten the banks stability. And then of course, prices would rebound.
The problem is, as I have said above, none of what you are saying is sustainable. So in the long term, it will correct itself (as we have found out).Any way you look at it, sudden and steep falls will prove counterproductive for bears in the long term. So I rather think this will prove to be another false dawn for them.
Your points (2 & 3) are just more of the same. The same thing that worked for a few months, but has now reached saturation point. You can set the saturation point higher, but you will just keep hitting it. What then? Just keep on pumping QE and artificial props into the economy? You'll get to a stage where prices are so out of sync with reality.
And this is the problem....
All this QE, pulling out of the housing market because prices are falling etc, is just kicking the can, and storing up a bigger problem. This is why I find it so annoying that you always need to lay the blame for a crash to another group, while looking yourself for anything to propel prices PAST unsustainable levels, with ever more unsustainable policies.
It's not the pessimists, or those hanging out creating a crash. A crash only happens if you create an unsustainable market....all of your points do exactly that....push prices up past sustainable, natural levels.0 -
des_cartes wrote: »Low interest rates and high inflation = falling living standards as wages fail to match growth in prices (current situation)
Higher interest rates to control inflation = higher mortgage = falling living standards.
Either way less money for buying houses.
What about low interest rates and low inflation (or deflation), which is what the BofE are predicting for the medium term?0 -
My view is that this is firmer evidence of a downwards trend rather than "stagnation" in prices.
Prices do not stop moving and there is no such thing as a natural level.
I think we all agree that -3.6% is wild but looking across the board, the slope is downwards.
As ever it will be down the attitude and circumstances of whoever owns the house you want to buy.0 -
Big drop that - No doubt.
Shame the Halifax does not do regional prices however. Nationwide reported higher than average rises for London in their last report so I would guess any falls in the capital are more restrained.
I'm more interested in what the estate agents says tonight when he values my flat. Following that I will be extremely interested in what my current tenants say given they have expressed an interest in buying it from me.
Will report backGo round the green binbags. Turn right at the mouldy George Elliot, forward, forward, and turn left....at the dead badger0 -
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