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A little-noticed milestone: This week, house prices will have fallen over 30 per cent
geneer
Posts: 4,220 Forumite
http://blogs.telegraph.co.uk/finance/andrewlilico/100010665/a-little-noticed-milestone-this-week-house-prices-will-have-fallen-over-30-per-cent-in-real-terms/
Article linked already. However, a more relevant thread title seems warranted.
Interesting that that house prices only fell 15% in nominal terms in the 1990's. And around 34% in real terms.
What did they call this back then. Oh yes thats right. A crash!:rotfl:
Naturally that does count as a crash nowadays.
On account of the fact that a handful of mentalists on an obscure house price forum have attempted to redefine what "crash" means.
(70% nominal falls apparently).:T
In the 1990s, house prices fell 15 per cent in nominal (cash) terms, reaching their pit in February 1993, but it was more than two years later (in September 1995) that they reached their pit in real (inflation-adjusted) terms, by which point they had fallen 34 per cent.
Article linked already. However, a more relevant thread title seems warranted.
Interesting that that house prices only fell 15% in nominal terms in the 1990's. And around 34% in real terms.
What did they call this back then. Oh yes thats right. A crash!:rotfl:
Naturally that does count as a crash nowadays.
On account of the fact that a handful of mentalists on an obscure house price forum have attempted to redefine what "crash" means.
(70% nominal falls apparently).:T
0
Comments
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http://blogs.telegraph.co.uk/finance/andrewlilico/100010665/a-little-noticed-milestone-this-week-house-prices-will-have-fallen-over-30-per-cent-in-real-terms/
Article linked already. However, a more relevant thread title seems warranted.
Interesting that that house prices only fell 15% in nominal terms in the 1990's. And around 34% in real terms.
What did they call this back then. Oh yes thats right. A crash!:rotfl:
Naturally that does count as a crash nowadays.
On account of the fact that a handful of mentalists on an obscure house price forum have attempted to redefine what "crash" means.
(70% nominal falls apparently).:T
You so much want there to have been a crash don't you?
I think we all know why.
If I don't reply to your post,
you're probably on my ignore list.0 -
In light of this milestone, This looks interesting
http://uk.news.yahoo.com/06112006/325/million-pound-starter-home-2024.html
(now why would they erase an item like that eh?)
http://www.findaproperty.com/displaystory.aspx?edid=00&salerent=0&storyid=10228.....under construction.... COVID is a [discontinued] scam0 -
In light of this milestone, This looks interesting
http://uk.news.yahoo.com/06112006/325/million-pound-starter-home-2024.html
(now why would they erase an item like that eh?)
http://www.findaproperty.com/displaystory.aspx?edid=00&salerent=0&storyid=10228The maths works like this: if house prices and incomes continue to follow their current growth trend, the average salary will be £146,188 in 18 years, while the average first-time buy will cost a cool million.
That's a very very big if. Nothing in economics ever follows the same trend for 18 years.
I have no idea what will be happening in 18 years time, but it sure as heck won't have got there in a straight line from here.Do you know anyone who's bereaved? Point them to https://www.AtaLoss.org which does for bereavement support what MSE does for financial services, providing links to support organisations relevant to the circumstances of the loss & the local area. (Link permitted by forum team)
Tyre performance in the wet deteriorates rapidly below about 3mm tread - change yours when they get dangerous, not just when they are nearly illegal (1.6mm).
Oh, and wear your seatbelt. My kids are only alive because they were wearing theirs when somebody else was driving in wet weather with worn tyres.
0 -
have you had inflationary pay rises over the last 3 years?
No?
Looks like there has been a wage price crash too?
Doh...
SInce many people had a 10% drop and public sector have had a 3 year pay freeze...
see the similarities?Plan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0 -
have you had inflationary pay rises over the last 3 years?
No?
Looks like there has been a wage price crash too?
Doh...
SInce many people had a 10% drop and public sector have had a 3 year pay freeze...
see the similarities?
Oh look. Turns out this meme is a load of old [EMAIL="b@llsh@t"]b@llsh@t[/EMAIL].
Who would have thunk it.
https://forums.moneysavingexpert.com/discussion/comment/44842860#Comment_448428600 -
Oh look. Turns out this meme is a load of old [EMAIL="b@llsh@t"]b@llsh@t[/EMAIL].
Who would have thunk it.
https://forums.moneysavingexpert.com/discussion/comment/44842860#Comment_44842860
I'll try it out but I don't think you need to hide the word "ballshat".0 -
Oh look. Turns out this meme is a load of old [EMAIL="b@llsh@t"]b@llsh@t[/EMAIL].
Who would have thunk it.
https://forums.moneysavingexpert.com/discussion/comment/44842860#Comment_44842860
Tell that to the strikers AKA public sector workers...
Inflation over last 3 years... CPI around 11%...
Total payrise... NIL
Net effect Wage crash (for public sector workers)
Add into that falling house prices, the only thing that is keeping them on the breadline is low interest rates...Plan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0 -
Tell that to the strikers AKA public sector workers...
Inflation over last 3 years... CPI around 11%...
Total payrise... NIL
Net effect Wage crash (for public sector workers)
Add into that falling house prices, the only thing that is keeping them on the breadline is low interest rates...
I'm sure you will agree that median salary increases are much more relevant than average, wouldn't you say?
Theres little doubt that for the last couple of years inflation has indeed been outstripping salary increases.
But we're looking at real houseprices from peak right?0 -
yep... i see your argument is you want the word crash?
where have you been living for the last couple of years... its come, been crashed and gone, we are at stagnation now!Plan
1) Get most competitive Lifetime Mortgage (Done)
2) Make healthy savings, spend wisely (Doing)
3) Ensure healthy pension fund - (Doing)
4) Ensure house is nice, suitable, safe, and located - (Done)
5) Keep everyone happy, healthy and entertained (Done, Doing, Going to do)0
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