We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
Debate House Prices
In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non MoneySaving matters are no longer permitted. This includes wider debates about general house prices, the economy and politics. As a result, we have taken the decision to keep this board permanently closed, but it remains viewable for users who may find some useful information in it. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Nationwide -0.6%
Comments
-
Graham_Devon wrote: »I still wonder how people can maintain the market can surge ahead.
Who has said this? You mean this bit?
Sluggish demand for homes, combined with only a gradual
rise in the supply of available properties, has helped to keep
property prices stable since last summer. We expect this
trend to be maintained over the remainder of 2011
Has anyone used the word "surge?"0 -
Who has said this? You mean this bit?
Sluggish demand for homes, combined with only a gradual
rise in the supply of available properties, has helped to keep
property prices stable since last summer. We expect this
trend to be maintained over the remainder of 2011
Has anyone used the word "surge?"
Surge...soar. Much of a muchness really.0 -
The only way transaction levels can go up significantly is if a mortgage bonanza starts up again, wage inflation kicks off in a big way, or if prices come down a lot.
The alternative scenario is continued low numbers of sales and a raft of behind the scenes measures to stop prices falling.
Evidently scenario two is the one that the powers that be are fighting for. Presumably in the hope that is enough time elapses scenario one will eventually come back via default.0 -
Graham_Devon wrote: »
Surge...soar. Much of a muchness really.
Woah woah woah - your best example of this is a headline to the Daily Express?
How about from someone sensible?0 -
Aug 10 166,507
Aug 11 165,914
So I could have brought my house cheaper all be it only £593 ... however, could I have paid around £4k off my mortgage while renting in the same period, and reduced my mortgage by another year? I have eaten into my mortgage period, reduced my Debt, and lived in a lovely home, had plenty to do doing it up how I wanted it, and have a house worth more than it was purchased for as a result.
Instead of having to pay 213k from the start of a new mortgage I only have 204k left to pay, ive made 9k worth of progress on my mortgage payments. Instead people pay rent, and then say well I saved 5k waiting 12 months... well you havent, cause you had to live somewhere and probably paid around 8-9k for the equivalent house in rent, moving costs, etc... and your now starting from fresh/scratch. ie, 213k and 25 years less £593 quid for the average house decrease from 12 months ago.
Unless your living somewhere rent free think about this, unless when you buy your house on a shorter mortgage ... are you actually saving anything? Interest rates move, SVR's move, House values move, your earning capacity changes... you need to balance them all off and get in sooner rather than later. IMO things have never been so good... 10 year fix for 3.99%???? seriously??? snap their hands off! Well I will be in Aug 2012. And by the end of it if not sooner (depending on charges), hope to have cleared said mortgage in full.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 -
Woah woah woah - your best example of this is a headline to the Daily Express?
How about from someone sensible?
It was good enough for one certain forum member......HAMISH_MCTAVISH wrote: »
HOUSE prices are set to soar by 21.3 per cent over the next five years, according to economists.
In what is hailed as “fantastic” news for the property market, the average value of a home in England is expected to rise from the current £214,647 to £260,304 by 2016.............
The large bold text indicates a high level of arousal, I believe.
As far as that newspaper goes, I think the headline "The Ultimate Back To School Survival Guide" says it all. I suppose if it gives advice to those of us who have been enjoying the quieter morning traffic recently, then it may have some credibility.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
Woah woah woah - your best example of this is a headline to the Daily Express?
How about from someone sensible?
You asked for anyone.
It's clear that there are many who believe the market will move onwards and upwards at quite a pace. Including the reports out in the last 2 days, not just from the Express, that have been argued about on here.
If you are totally oblivious to all of this (though you take part in the threads) then I can't help you. Equally, I can't give you anyone "sensible" who has been involved in those discussions, as anyone sensible wouldn't have said it in the first place.0 -
Stagnation...
July YOY 0.4%
August YOY 0.4%
The rest is just noise... in this market anyone who reduces their price is either desperate, forced too, or just a bit silly. But everyone has reasons.
I think Stagnation is where it needs to be, and it points very much to Japans situation... Stagflation... is coming.
I think you lost a couple of minus signs there if you mean the Nationwide figures.
I'm not aware of Japan having stagflation. Deflation has been more their problem.
A graph of prices from 1980 - 2009 in Japan:
http://3.bp.blogspot.com/_up3_ViopRks/SqAjbZOn8kI/AAAAAAAACIA/I8qWkbPyor8/s1600-h/CPI_Japan_1980-2009.png
Inflation has risen to about 1.5% on the back of rising fuel and food prices after the graph cuts off. Excluding food and fuel (Japan's core inflation measure) prices are still falling.0 -
Are you saying that particular member is sensible.
No.
Any sensible person would have dismissed the headline as blatant ramping (although the figure given is rather low for a ramping article).30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 353.6K Banking & Borrowing
- 254.2K Reduce Debt & Boost Income
- 455.1K Spending & Discounts
- 246.7K Work, Benefits & Business
- 603.1K Mortgages, Homes & Bills
- 178.1K Life & Family
- 260.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards