Housing Market in 10-20 years time

Batchy

Graham_Devon wrote: »

Oh, and up 15% from todays prices by 2022.

In real terms...? or...

IveSeenTheLight

Batchy wrote: »

In 20 years, I predict, most people on this forum will own their house outright... regardless of what happens.

A very valid point.

Although mortgages are historically taken over a 25 year period, it would be interesting to see how long they actually are serviced over.

If this was plotted, despite house price increases, I would hazard a guess that the amortization period would be reducing as people now understand the benefits of over paying the mortgage and reducing the overall interest costs.

Radiantsoul

Batchy wrote: »

In 20 years, I predict, most people on this forum will own their house outright... regardless of what happens.

You might well be right. I suppose we can't all be rich either.

Bullfighter

On a timescale that long you need to factor in the trends in energy and the environment, not just the economy.

The descent into an energy poor future will have a fundamental effect on society. Good, bad... who knows.

angrypirate

In 20 years time we'll be in another boom. Most bears right now will probably own their house outright and will be busy saying - its different this time - there wont be crash.

Graham_Devon

Batchy wrote: »

In real terms...? or...

Whatevers closest to 15% in 2022 is what I meant

Radiantsoul

Bullfighter wrote: »

On a timescale that long you need to factor in the trends in energy and the environment, not just the economy.

The descent into an energy poor future will have a fundamental effect on society. Good, bad... who knows.

Presumably energy intensive items will be relatively more expensive. I am not sure where houses fit on the scale. Probably relatively they use little energy as many are already built and much of the value is in their scarce location. So houses ought to have risen by less than petrol or utility bills.

bigbigmamamoo

Radiantsoul wrote: »

Presumably energy intensive items will be relatively more expensive. I am not sure where houses fit on the scale. Probably relatively they use little energy as many are already built and much of the value is in their scarce location. So houses ought to have risen by less than petrol or utility bills.

but different houses will be effected differently surely. commuting costs will go up as will heating costs, making detatched homes with long commutes less affordable, but city centre flats more cost effective

Bullfighter

Radiantsoul wrote: »

Presumably energy intensive items will be relatively more expensive. I am not sure where houses fit on the scale. Probably relatively they use little energy as many are already built and much of the value is in their scarce location. So houses ought to have risen by less than petrol or utility bills.

Yes.. but bear in mind that everything requires energy to supply in today's society. Food, water, travel & clothing.

olly300

bigbigmamamoo wrote: »

but different houses will be effected differently surely. commuting costs will go up as will heating costs, making detatched homes with long commutes less affordable, but city centre flats more cost effective

In the UK city centre flats are poorly built.

If they were built like in lots of Europe i.e. heating from a communal boiler then they would be more energy efficient.

Plus those in detached houses can use wood or coal to heat their houses. A bit hard if you are in a flat built after 1960 as they don't tend to fireplaces and chimneys.