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Debate House Prices
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Industry leaders summoned to crisis meeting on first-time buyers
Comments
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When will the penny drop I wonder? You don't need first time buyers in a housing or any other market to sustain values.
The inevitable result of the increase in housing prices is that fewer people will be able to afford them, from the peak of 70ish % currently. That means that the most wealthy 70% of the country, reducing over time, will hold the housing stock and trade it between each other essentially as a function of imputed or real rent.
Which is the historical norm.
The solution isn't more lending - that simply fuels more inflation and is self defeating. If you want more affordability, build more houses.
Fantastic and just lock everybody else out. That will be really good for society I'm sureHi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
Graham_Devon wrote: »Our solution to the problem of lending too much? Lend more. It's a disgrace that we should reign in excess lending. Lend MORE I say, and this time, do it proper, lend double the amount!
Erm, I think he means lend more than is being lent currently, not lend more than at peak when all the problems happened.This is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0 -
HAMISH_MCTAVISH wrote: »And yet prices as a national average today are hovering around 2006 levels.
And average salary levels to that of 2005.
Seems there is a correction underway.0 -
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Thrugelmir wrote: »And average salary levels to that of 2005.
Seems there is a correction underway.
So house prices back to 2006, and salaries back to 2005......
Remind me again why that's good news for the bears?“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”0 -
Erm, I think he means lend more than is being lent currently, not lend more than at peak when all the problems happened.
So, just a little bit more, eh ?
http://www.youtube.com/watch?v=BlK62rjQWLk30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
HAMISH_MCTAVISH wrote: »So house prices back to 2006, and salaries back to 2005......
Remind me again why that's good news for the bears?
Remind me again, what is the reason that the banks aren't lending, and the property market is in a mess ?30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
HAMISH_MCTAVISH wrote: »So house prices back to 2006, and salaries back to 2005......
Remind me again why that's good news for the bears?
Merely an observation. I trade on facts not misguided sentiment.0 -
I am getting paid a lot more than I did in 2005 so it works for me.Have my first business premises (+4th business) 01/11/2017
Quit day job to run 3 businesses 08/02/2017
Started third business 25/06/2016
Son born 13/09/2015
Started a second business 03/08/2013
Officially the owner of my own business since 13/01/20120
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