Debate House Prices
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Nationwide November -0.3% MoM
Comments
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Things seem to still be going in the right direction which is nice, as much as I do see the point of seasonal adjustment are people not buying because its cold or because prices are dropping? likewise once it warms up will those same people suddenly decide to buy?
People are not buying because the banks are not lending
Credit Crunch and all that:cool:
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People are not buying because the banks are not lending
Credit Crunch and all that
People are not buying because the banks are not lending as irresponsibly anymore that caused the credit crisis. Instead they are lending responsibly like they use too, its just housing is too overvalued for these prudent lending standards.
People are also not buying now because they can see house prices falling, inflation, taxes rising and less job security.:exclamatiScams - Shared Equity, Shared Ownership, Newbuy, Firstbuy and Help to Buy.
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LOL @ this thread.
"House prices rise....the bulls WIN, you bitter bears, ha ha ha".
"House prices are flat, they have stagnated, the bulls WIN! You poor bears, everyone hates bears, ROFL"
"House prices have fallen....the bulls WIN! You bears must be so bitter, 90% off...hahaha who said that, PMSL".0 -
Graham_Devon wrote: »LOL @ this thread.
"House prices rise....the bulls WIN, you bitter bears, ha ha ha".
"House prices are flat, they have stagnated, the bulls WIN! You poor bears, everyone hates bears, ROFL"
"House prices have fallen....the bulls WIN! You bears must be so bitter, 90% off...hahaha who said that, PMSL".
Basically what you're trying to say, in your own way, is that when predictions of complete collapse of the housing market of values falling by 70% don't come true after you've been banging on about it for five long years, you look rather stupid.
Is it anyone wonder people come out and tell you 'I told you so'?0 -
Blacklight wrote: »Basically what you're trying to say, in your own way, is that when predictions of complete collapse of the housing market of values falling by 70% don't come true after you've been banging on about it for five long years, you look rather stupid.
Is it anyone wonder people come out and tell you 'I told you so'?
You know, you are right. I really do look highly stupid now. Infact, everyone who said prices will probably fall do.
Prices are falling, like many of us have been suggesting for a while now. But they didn't fall 70% in 3 months. I mean, we must look like complete morons now.
I'll take a valuable lesson from yourself, and follow your posting examples, to hopefully come across as intelligent.0 -
Generali's take on things:
- Nationwide figures are seasonally adjusted. Non-seasonally adjusted prices are down 0.06%
- A fall of 0.08% next month will leave nominal house prices exactly flat for the year on the Nationwide measurement
- Nationwide's prefered measure of change (average of the last 3 months house prices vs average of the preceding 3 months) is down 1.3%, slightly less than last month but higher than at any point since April 2009
- So far in 2010, the average house price measured by Nationwide has risen by £83.
- With RPI at 4.5%, real house prices have fallen in 2010. Unfortunately so have real wages but that's for another thread
- Monthly house price figures are just noise.
- House price : earnings ratio remains higher than historic norms
- Base and mortgage rates remain a very long way below historic norms
At some point interest rates will rise. That's going to be interesting in many ways. Frankly their impact on the housing market may well be the least of the problems in the economy. If you want an example of a possible impact, look at the GBP/AUD exchange rate over the past 2 years. The UK is a trading nation so very sensitive to changes in exchange rates.0 -
Blacklight wrote: »It wasn't an insult, just a statement of fact. I'm sorry you took it that way... say it all.
ROTFLMFHO
mate look say what you like if it makes you feel better
at the end of the day you leverage up, the debt is almost choking you and now you have realised that prices can go down.
:cool:
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Generali's take on things:
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At some point interest rates will rise. That's going to be interesting in many ways. Frankly their impact on the housing market may well be the least of the problems in the economy. If you want an example of a possible impact, look at the GBP/AUD exchange rate over the past 2 years. The UK is a trading nation so very sensitive to changes in exchange rates.
Would be interested to hear more about your thoughts on the effect that rising interest rates will have on the broader economy.0
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