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Debate House Prices
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Halifax Hpi September 2010 -3.6%
Comments
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neverdespairgirl wrote: »that's number of sales, though. Not necessarily the same as price.
Wolves near the bottom of the league again, LJ won't be happy
or maybe he will 
'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
that's right, the link explained clearly it was sales.neverdespairgirl wrote: »that's number of sales, though. Not necessarily the same as price.
high number of sales compared to a low number of sales in different areas means what?
increased demand has correlation to prices.0 -
Not all people, but enough to stabilise the supply demand equilibrium
Do you understand the problems this cause though?
Say people do take their houses off the market. Lets say 30% of people currently selling do.
So, supply drops 30%. Prices start rising. Fantastic.
Just like last time around, these people decide to put these houses back on the market as prices have risen.
At the same time, the people who have taken their houses off the market twice because of falls, also try to get a slice of the action.
At the same time as those two groups are putting their houses on the market, the normal run of the mill stuff is going on, people who need to move and can't just dip their toes in and out as they fell like it.
Suddenly, you have a bigger oversupply than you do now. What then? Prices fall harder and people take their houses off the market again?
Round 3 see's 4 groups of people all waiting in hope for rises, of which, if they happen, they all pile in again.
Hamish / Stevie...no problems at all here?
It's just called kicking the can. You cannot get away from it, and taking supply off the market only pulls prices up a little until everyone piles in again.
Not sustainable. Infact the more it happens, the more damage happens to prices and stability. But again, bulls cannot see past this.0 -
- Monthly figures are just noise.
I agree. This is a very loud noise, though. The brass band catagory of housing market noise....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
that's right, the link explained clearly it was sales.
high number of sales compared to a low number of sales in different areas means what?
increased demand has correlation to prices.
Without looking at the supply levels, number of sales tells you absolutely nothing about relative increase in demand....much enquiry having been made concerning a gentleman, who had quitted a company where Johnson was, and no information being obtained; at last Johnson observed, that 'he did not care to speak ill of any man behind his back, but he believed the gentleman was an attorney'.0 -
They did - thats why prices fell by 20%.
But they didn't house prices fell so they backed out of the markets and prices rose again. 'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher0 -
neverdespairgirl wrote: »I agree. This is a very loud noise, though. The brass band catagory of housing market noise.
Thats how I feel.
when we had the first drops a few years ago I remember Gen explaining patiently why they weren't bigger. This is comparitively huge. Though news is persistantly a little gloomy we haven't had quite the same bolts from the blue sort of stuff to knee jerk (I accept knee jerks are sort of snail tempo knee jerks).0 -
Only immigration can save us! Hamish, get on the phone to your cousins.
I don't think an invasion of buckfast drinking, haggis munching, hairy people in tartan (and that's just the women) would help you at all.
Besides, they wouldn't want to live down there.;)“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 -
Graham_Devon wrote: »
Say people do take their houses off the market. Lets say 30% of people currently selling do.
So, supply drops 30%. Prices start rising. Fantastic.
It'll take alot more than 30% of the supply disappearing to re-address the balance.
I cant really comment on the UK as a whole, but in the NE it's not just a buyers market, it's like Wollies on the day it closed its doors.0
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