"Oversupply the cause of house price crashes"

Graham_Devon

HAMISH_MCTAVISH wrote: »

Are you really daft enough to to discount the reality that supply shortages have a far bigger impact?

Supply means nothing if people can't afford it.

You could supply 50,000,000 ferraris to the UK market. But it's a bit pointless if they are all £500,000 each.

In terms of houses, supply means nothing when people cannot afford their mortgages, or can't afford to get a mortgage.

adr0ck

FATBALLZ wrote: »

Looks like George Osbourne is a member of HPC then, since he is making planning laws far more pro-development.

was that meant to be a funny comment?

Percy1983

As mentioned there is many factors in house prices.

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alisonmeyers

RenovationMan wrote: »

Are you joking or did you seriously spend time tracking someone down on the internet?

googling someone's name is hardly a grand effort at tracking someone down :rotfl::D

CloudCuckooLand

Remind me, how large was the degree of over-supply in 2008 ?

alisonmeyers

RenovationMan wrote: »

Pulling the wings off a dragon fly is hardly comparable with torturing humans but that is how Jeffrey Dahmer started.

Every journey begins with a single step. I would not even bother googling someone's name, alison meyers, nee Davidson of 34 High Street, Cambridge.

Baah! you got me! :rotfl::beer:

wotsthat

Graham_Devon wrote: »

Supply means nothing if people can't afford it.

You could supply 50,000,000 ferraris to the UK market. But it's a bit pointless if they are all £500,000 each.

In terms of houses, supply means nothing when people cannot afford their mortgages, or can't afford to get a mortgage.

Is that £500,000 the asking price for a Ferrari?

Maybe there'll be a spring bounce - Ferraris always look better with some sunshine on them.

geneer

Wow. What a spectacular FAIL.

Conrad

The fact remains a young couple can buy a property in much of the UK with an 85% mortgage that is very affordable. Now the pessimist will say 'ahhh but what about when Mrs leaves work to have kids', but as ever this is a non starter as the vast bulk of people simply plan ahead and find a way which for example often involves parental subsidy.

Prices will not meaningfuly fall now, barring a major catastrophic event, and no, rising oil prices is not such an event. Why would they fall, unemployment is lower than in 1991, mortgages are very cheap and will only rise modestly and gradualy, the cuts take us back to 2007 levels - no big deal.

Bears have to accept that house prices are what they are, and get on with it. As I previously pointed out, affordable property can be had right accross the UK, and yes that includes vast swathes of the South East such as North Kent.

The daffs are up, the royal wedding is imminent, UK goods are cheaper, manufacturing is on the rise and the new dawn has broken, rejoice.

shortchanged_2

Conrad wrote: »

Prices will not meaningfuly fall now, barring a major catastrophic event, and no, rising oil prices is not such an event.

Conrad if you really believe this statement then I'm afraid you lack any credibility.