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Debate House Prices
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The pound!
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We could export property !!!!!!. That's something we're good at. Aim to bring moral degradation and ruin to rival countries by creating house-price bubbles.What we need is higher house prices. I mean, the rest of the world must look on in slight envy that we have a property shortage and fairly strong private rental market. If we could only get some strong HPI back again, the country will be quids in."It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
In my opinion anyone with any sense would move to Canada or Australia immediately. I wish I could because we are in for one hell of a rough ride in the next 20 years......
These are the main two resource rich countries still completely self sufficient when the !!!! hits the fan - as it will.
The current global economy is a mirage and it's about to all come crashing down...horribly0 -
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Good buying opportunity. High rates keep prices down. Then rates come down and prices shoot up.Thrugelmir wrote: »Mortgage interest rates are nearer 8%. Does that make sense to want to move there?"It will take, five, 10, 15 years to get back to where we need to be. But it's no longer the individual banks that are in the wrong, it's the banking industry as a whole." - Steven Cooper, head of personal and business banking at Barclays, talking to Martin Lewis0 -
The prices have shot up there over the last 7 or 8 years regardless of interest rates!0
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The pound has been lucky ,due to stupidity and a guilt trip the Americans put an idiot in charge so the dollar has fallen in parallel with the pound. I think we may be in trouble if someone sensible takes over in the US and stops wasting money on the poor and sick.0
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Good buying opportunity. High rates keep prices down. Then rates come down and prices shoot up.
With mortgage rates of between 7% and 8% currently, Australian average house prices still hover around 5 times household income on average.
In most of the major cities, median prices are more like 8-12 times average single salary. Taxes are higher, and cost of living is arguably higher as well.
So high rates don't necessarily keep prices down, and mortgage rates rising to 8% doesn't necessarily cause a crash, even with price to income ratio's higher than the UK.“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 -
In my opinion anyone with any sense would move to Canada or Australia immediately. I wish I could because we are in for one hell of a rough ride in the next 20 years......
These are the main two resource rich countries still completely self sufficient when the !!!! hits the fan - as it will.
The current global economy is a mirage and it's about to all come crashing down...horribly
Pull yourself together and give up the hyperbole - there's a dear.
If Australia is self-sufficient why does it - as Generali himself pointed out - import more by value than it exports.
No country is self-sufficient. The only one that has tried to be (North Korea) has failed spectacularly to the point that its people are starving and it resorts to drug trafficking and international crime to survive.
Irrespective of mineral wealth, Australia is NOT a manufacturing economy. Nor has it proven itsself to be particularly innovative in the past. Like every other country, it needs to trade with the rest of the world for the things it doesnt have and that - in a nutshell - is why the world economy is not a mirage and is not going to collapse - horribly.0 -
We could export property !!!!!!. That's something we're good at. Aim to bring moral degradation and ruin to rival countries by creating house-price bubbles.
The UK already does. We get Beeny, Krusty etc over here. We even have a Pommy estate agent telling Aussie EAs how to sell houses.0
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