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Debate House Prices
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housepricecrash.co.uk finally remove 2008 forecast of 40-50% drops.
Comments
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House prices peaked at the beginning of 2008 at £186k (all figures based on LR). Over the last 3 years inflation has averaged 3.01%. This means that for that house to maintain its value it would need to be worth £203.5k now. The average house was £165,505 at the end of October. This means the average house is worth £40k less (in real terms) than 3 years ago. Prices are still falling, and inflation is higher than the average of the last 3 years.
I've never been overly persuaded by the idea prices would halve from peak (or similar). I do think the combination of inflation and price drops will knock another 5-15% off house values in the next year (based on LR figures Nov-Nov). This would mean that houses would drop to the equivalent of £140-155k
Maybe you should just look at it as how your deposit fares against inflation. If you bought a house for £180k with an £18k deposit and its now worth £165k then effectively you lost about £15k for living in a house for 3 years. Not a great result but at least you have lived through the crash and are not yet in negative equity. We can all paint this up to suit our own agenda but I find it better if we are all just up front about this.0 -
House prices peaked at the beginning of 2008 at £186k (all figures based on LR). Over the last 3 years inflation has averaged 3.01%. This means that for that house to maintain its value it would need to be worth £203.5k now.
You choose such a limited timeframe.
Why not spread it over a longer timeframe and see the results from a wider basis.
Indeed if it helps, here is a graph showing that house prices have increased in trend by 2.9% per annum over the last 30 years.
Indeed, it appears that house prices are indded undervalued in relation to the long term trend
A far truer representation over the life of a mortgage:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
You've got to give it to the HPC rejects. Their obssession brought on by their humiliating dismissal knows no bounds and they never give up. :rotfl:
Actually I agree with Gloomy.
Let's get it into perspective here. It's a two bob crappy website. Members consist of nutters who sit in shopping centers with a packed lunch hoping to start a conversation with strangers.
Who cares what they think?
It was fun taking the p### out of them when they realized there would be no house price crash. Now it's starting to become boring.
I won't be looking on there anymore.
To me they have the same effect as when the Jehova Witnesses walk up your drive.0 -
Bangkok-Dave wrote: »Actually I agree with Gloomy.
Let's get it into perspective here. It's a two bob crappy website. Members consist of nutters who sit in shopping centers with a packed lunch hoping to start a conversation with strangers.
Who cares what they think?
It was fun taking the p### out of them when they realized there would be no house price crash. Now it's starting to become boring.
I won't be looking on there anymore.
To me they have the same effect as when the Jehova Witnesses walk up your drive.
i think you care because you care enough to take time to post about it.Maidstone Prices - average reductions at 8.5% (£19,668) Feb 2012 - We thought the dudes were not allowed to drop prices?0 -
who come over to this site to harass the people they kicked off their own site at HPC.co.uk... sad but true...Bangkok-Dave wrote: »It's a two bob crappy website. Members consist of nutters0 -
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pmsl - are you completely stupid or do you just act that way?Graham_Devon wrote: »New one on me, who are the harrasers that have come over here from HPC?0 -
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don't you see the new user id's with zero posts that pop up that know Hamish et al from HPC.co.uk and rip into them - it's pretty obvious if you don't see it.Graham_Devon wrote: »Stock answer.
But can you follow the stock answer up with a reasoned response?
I genuinely don't know who the harrasers are that have come from HPC to haunt those they rejected?
stock answer because it's true... reasoned responses are a waste of time with you, tried that - never again
now jog on Devon before i rip you a new one
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don't you see the new user id's that pop up that know Hamish et al from HPC.co.uk and rip into them - it's pretty obvious if you don't see it.
No.
Unless you mean geener? But he's not from HPC.
I'm also surprised you have been seeing these names pop up, considering, apparently, you haven't even been here, and second, they don't appaear to be popping up anyway. That's pretty clever.
Did you not like someone questioning you? Surprise there!now jog on Devon before i rip you a new one
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