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Debate House Prices


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December Nationwide MoM +0.4%

245678

Comments

  • chucky
    chucky Posts: 15,170 Forumite
    10,000 Posts Combo Breaker
    edited 31 December 2010 at 10:51AM
    Generali wrote: »
    To be fair, you've got to be spinning better than Swann to make this into positive news.
    going back to this - they've 'fallen' or are negative in nearly all regions for the quarter but are positive or have 'risen' over 6 months and also YoY.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Generali wrote: »
    Brits seem not to mind losing money to inflation but hate losing nominal cash. It's probably the same everywhere.

    I think you've already identified why here.....
    However, unusually, mortgage rates are at or below inflation so while the value of the debt is being eroded, the cost of servicing the debt has fallen. It's why people with debt tied to the base rate but incomes tied to inflation are making out like bandits.

    Many of us are "making out like bandits".
    “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”
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    chucky wrote: »
    going back to this - they've 'fallen' or are negative in nearly all regions for the quarter but are positive or have 'risen' over 6 months and also YoY.

    Annually up 0.4% or £660. Not a huge amount nominally and pretty poor vs inflation.

    Down 4.3% over the past 6 months on average.

    Not looked at the quarterly numbers but the kiddie fireworks are about to start.
  • love2Pervert
    love2Pervert Posts: 5 Forumite
    +0.4% is wonderful news as we see exit 2010 :)
  • Pimperne1
    Pimperne1 Posts: 2,177 Forumite
    Saynowt wrote: »
    If that method is correct it's worthwhile pointing out that anyone who borrowed, say £200,000 in October 2007, has effectively had their debt reduced to £184,162 in 'real' terms.

    ;)

    Never seen that response before. Excellent.
  • chucknorris
    chucknorris Posts: 10,795 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Generali wrote: »
    To be fair, you've got to be spinning better than Swann to make this into positive news.

    Not sure about that, I tend to view the market in the context of the dire state we are in, so I certainly take a positive view of this. It's at least 1% better than I expected.

    I think the market will stay approximately flat but there are signs that it is starting to fall again in real terms. If inflation drops back then that might translate into bigger nominal falls.

    I hope you are right, I'm expecting a little worse than than that, a few percent down in 2011, followed by up to 2 years of stagnation, then a slow pick up. But I'll happily take that with hopefully a return to 2007 nominal prices by about 2017.

    Brits seem not to mind losing money to inflation but hate losing nominal cash. It's probably the same everywhere.

    I hate losing cash on my savings but as a net borrower with tracker mortgages I'm not cheering for rate hikes.
    Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop
  • System
    System Posts: 178,374 Community Admin
    10,000 Posts Photogenic Name Dropper
    *makes out like a bandit*
    This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Late christmas pressie for some! :)
  • abaxas
    abaxas Posts: 4,141 Forumite
    Graham_Devon wrote: »
    Late christmas pressie for some! :)

    How can a seasonal adjustment be a good xmas pressie?
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    abaxas wrote: »
    How can a seasonal adjustment be a good xmas pressie?

    Well it always is seasonally adjusted, so no point in trying to look at it some other way really. The index is what it is.
This discussion has been closed.
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