Debate House Prices


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Housing Market in 10-20 years time

There is a lot of speculation on the housing market in here over a fairly short timescale.

But what do people think the housing market will look like in a decades time. Will housing/income multiples be broadly the same? Will more people own their own houses? How will the mortgage market look?
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Comments

  • Running_Horse
    Running_Horse Posts: 11,809 Forumite
    Part of the Furniture Combo Breaker
    Most people here couldn't tell you what the market will be like in twenty days, never mind twenty years.
    Been away for a while.
  • Radiantsoul
    Radiantsoul Posts: 2,096 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Well further out the market can be judged more on fundamentals. By 2030 the credit crunch will be a distant memory.
  • I predict:

    A two-tier market
    All the undesirable and less desirable property will be owned by landlords who bought for cash at the beginning of the crash and who use the property for income generation through rents

    All the more desirable property will be owned by the middle and upper classes. This will function much like the current market, but will be too pricey for most ordinary working people, due to the large deposits required, which will be provided mostly by parents
  • Jowo_2
    Jowo_2 Posts: 8,308 Forumite
    Nothing seems to have been learned in the long-term from the previous two major boom and bust cycles with housing.

    Nothing appears to be in the offing to resolve the huge housing need which will simply continue to escalate with pressure from a significant population rise.

    I think we will continue to have these 'ground hog' events every decade or so and little done to address housing shortages and high rents.
  • Well further out the market can be judged more on fundamentals. By 2030 the credit crunch will be a distant memory.

    I would envisage that house prices will be far higher nominally than they are today (or at peak).

    This means that while the prices rise, the debt secure will only decrease.

    Before anyone comes back saying that in real terms the may mean cheaper, that only means that the debts secured previously should be easier to pay off quicker and that the amortization could be dramatically reduced.
    :wall:
    What we've got here is....... failure to communicate.
    Some men you just can't reach.
    :wall:
  • Radiantsoul
    Radiantsoul Posts: 2,096 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    I predict:

    A two-tier market
    All the undesirable and less desirable property will be owned by landlords who bought for cash at the beginning of the crash and who use the property for income generation through rents

    All the more desirable property will be owned by the middle and upper classes. This will function much like the current market, but will be too pricey for most ordinary working people, due to the large deposits required, which will be provided mostly by parents

    Quite an interesting theory. I find the idea that parential finance becoming a necessity vaguely depressing.
  • iB1
    iB1 Posts: 384 Forumite
    Well further out the market can be judged more on fundamentals. By 2030 the credit crunch will be a distant memory.

    Unless there is another credit crunch in 2028...
  • Quite an interesting theory. I find the idea that parential finance becoming a necessity vaguely depressing.

    I find the whole scenario depressing. The New-Landlords will be interested in rental returns not an increase in the value of their property and so will squeeze every penny out of their tenents, who will find it ever harder to save for s deposit
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    I predict it will be just as screwed as it was in 2007, just as screwed as it was in 2005, and just as screwed as it is now.

    There will still be people screaming to allow people to take on debts they will never be able to afford, and still be people whinging that house prices are not the same as in the 70's.

    Oh, and up 15% from todays prices by 2022.
  • Batchy
    Batchy Posts: 1,632 Forumite
    In 20 years, I predict, most people on this forum will own their house outright... regardless of what happens.

    If you don't maybe your still saving in a bedsit, waiting for the right time, before you retire.

    Think about it, who cares, just live your life and try to be happy, or do something about it, move somewhere else, get a higher paid job, something to make a difference!
    Plan
    1) Get most competitive Lifetime Mortgage (Done)
    2) Make healthy savings, spend wisely (Doing)
    3) Ensure healthy pension fund - (Doing)
    4) Ensure house is nice, suitable, safe, and located - (Done)
    5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)
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