House prices rising in uk

mattdragon2

People seem to be acting like rising house prices are a good thing. They aren't!

Take sweetpees example. A house at £100k in the 90's now costs £500k. Now imagine buying a house for £200k in the 90's. It cost you 100k extra when you sell your £100k house.

But if the £200k house rose by the same amount as the £100k then the £200k house would be worth £1million. So to upgrade from your £100k house to buy that £200k house, you would need £500k and the interest paid on it. I would have prefered paying £100k and the interest on that.

So when people think it's good they might get more for their house and try to rise prices, it's only hurting themselves in the long run.

I still stand by my point that I believe house prices are going down. It seems the only money left to take from people are their houses and there's a lot of money invested in houses in England.

teajug

breadlinebetty wrote: »

Rubbish!

Fifty these days is young. People stay fitter for much longer than they used to. Are you saying people like Madonna, Hugh Grant, Gerge Clooney etc all belong in a care home?:rotfl: You muppet!

I know a lot of elderly folk in their late 80s who still live at home and are as fit as a fiddle. Those who aren't as agile as they once were either have home-helps who pop in, or relatives who look after them.

Others move in with their children (great idea - granny flats) so NO, not everyone goes into care homes. And NO - not everyone gets artrhritis and dementia once they hit 50!:rotfl:

I did not say everyone get these condition but a lot do, everyone gets old perhaps you will not, but in the end we all have to leave this world and that is a fact unless they have produced a drug to keep us all a live forever and that would create its own problems.

Of course a lot of people in the 80 and even up to 100 lives in their own home but they will not be able to do the gardening or other things around their homes as when they were younger. Also, 50 to 100 is not old if you are healthy, but that is not always the case is it. The last thing you will have on your mind is how much you will get for your home and negoitating with estate agents and how to sell your home in your 80's as at that age to start moving to another homes or care home would be the end of you if you do not have people to do it for you and lets face it when you get to that age you do not have many friend around or family members as they will all gave pass away or moved on... :eek:


http://forum.alzheimers.org.uk/forumdisplay.php?27-Younger-people-with-dementia

ognum

teajug wrote: »

I did not say everyone get these condition but a lot do, everyone gets old perhaps you will not, but in the end we all have to leave this world and that is a fact unless they have produced a drug to keep us all a live forever and that would create its own problems.

Of course a lot of people in the 80 and even up to 100 lives in their own home but they will not be able to do the gardening or other things around their homes as when they were younger. Also, 50 to 100 is not old if you are healthy, but that is not always the case is it. The last thing you will have on your mind is how much you will get for your home and negoitating with estate agents and how to sell your home in your 80's as at that age to start moving to another homes or care home would be the end of you if you do not have people to do it for you and lets face it when you get to that age you do not have many friend around or family members as they will all gave pass away or moved on... :eek:


http://forum.alzheimers.org.uk/forumdisplay.php?27-Younger-people-with-dementia

Both my parents have died my Dad died at age 75 within 24 hours of having a massive stroke my Mum died in her own home suddenly at the age of 86 neither of them needed a care home/home help despite the fact that they had made provision through their lives and had money to pay for care

It is a vast generalisation to believe everyone will ot be able to cope or live in their own home until they die

Will I sell their home, No, why, because in iterest rates are too low and inflation will destroy the value of the money in the bank! So, it will become another family home that becomes a rental, one less home in a nice village with good schools for others to buy The effects of the financial situation do not in my case increase the housing stock for sale they decrease it

Think about what you wish for because it has different effects on different people!

teajug

ognum wrote: »

Both my parents have died my Dad died at age 75 within 24 hours of having a massive stroke my Mum died in her own home suddenly at the age of 86 neither of them needed a care home/home help despite the fact that they had made provision through their lives and had money to pay for care

It is a vast generalisation to believe everyone will ot be able to cope or live in their own home until they die

Will I sell their home, No, why, because in iterest rates are too low and inflation will destroy the value of the money in the bank! So, it will become another family home that becomes a rental, one less home in a nice village with good schools for others to buy The effects of the financial situation do not in my case increase the housing stock for sale they decrease it

Think about what you wish for because it has different effects on different people!

Read what I said not everyone will get these conditions but a lot do, you did unfortunately died of a stroke and if he had survived then he would have had lots of problems, with his health. I have seen it in my family. I have said that 50 to 100 is young if you have good health but that is not always the case. I am a pensioners and owned homes in 80's and 90's and do not anymore, but if I did I would not be able to manage the maintenance of it as I got arthritish from the age of 45. It was a very big relief for me now that I am renting and do not have to worry about the roof leaking and dealing with builders, or if the central heating goes and have to get a plumber in to fix it, also would not be able to decorating or DIY things that I used to do like keeping the front and garden in good order. These things are very stressful when you reach a certain age.

I am not wishing for anything as you say things have different effect on different people and we are not all the same thank god.

My sister has dementia and she got it in her sixties also she was a home owner many times but we cannot see into the future to what will happen to people from day to day both young and old.:o

NEO72

mrandmrswilliams wrote: »

I own my house outright. Bought it in 1997 for £120k and it's now valued at £530k.


And before you start spouting and saying £530k is only the asking price - ALL the properties down my road are around the same price - and a couple have been sold around that price in the last year.

You can't grumble at that can you?

Yes my house too has risen in 'value', we should give ourselves a big pat on the back for being so very financially astute....

...or alternatively, we by sheer chance bought before the largest credit bubble in history pushed prices to ridiculous levels? A credit bubble which almost broke the entire western financial system. A credit bubble that in an attempt to keep it inflated brought us QE and artificially low interest rates resulting in inflation and lowering living standards for the majority of the country. A credit bubble that now means hundreds of thousands of people who paid over the odds are in negative equity, literally prisoners in their own homes. A credit bubble that future generations will be paying for for a very long time

But as long as your house has increased in value that's a small price to pay eh? Go on, give yourself another pat on the back

At least I can understand the motivation of Hamish and the other price rise chearleaders - like all last entrants to any ponzi scheme, they were stung when the music stopped and want to encourage others to take their place - they're driven by fear, whereas you are driven by out-and-out greed. Well done you.

Thermidor

Well if my house rose that much in price I certainly wouldn't be moody about it, and if I decided to sell it and was offered over half a million for it I wouldn't say "Oh no! I cant take that much for it! Just give me £200k instead, I don't want to look GREEDY!":rotfl:

pararct

Economic indicators going forward have worsened considerably this week. In addition it is very likely the Government will miss its deficit reduction target's by a Country Mile.

What can we take from that? Recession is now almost certain, very probably record unemployment figures, further austerity from this Government will be in the pipeline this will involve larger cuts to the public sector (and most of the last lot have not yet taken place) pay freezes and very possible tax hikes. Further devaluation of Sterling is about to take place (the £75 Billion printing spree announced by the BOE), this will keep inflation high for the foreseeable and at a time when the vast majority of the working population are in a pay freeze (public sector) or are unable to negotiate meaningful pay rises (private sector) due to the recession.

The Eurozone is on the verge of collapse and it is only the appointment practically by Brussels of unelected leaders (in Italy and Greece) which is keeping the markets at bay. Will it implode? Who knows but it is not in a very good place and there is certainly no glimmer of even a shard of light of a solution to this on the horizon..

Living standards are falling and will continue to fall for quite some time. If the Eurozone does implode it could take us right back to a standard last enjoyed in the 1970's....

And some people think this is an environment where property values will continue to rise unchecked? :eek:

If the Euro goes down and the deficits become such where the markets are calling the tune then expect large reductions in Welfare/benefit payments and the re-introduction of food stamps. Mark my words.

marblesfound

Brit,

I agree with much of what you said above however there was also a joker in the pack - QE. Pre QE in 2008 house price falls were made worse by the prospect of deflation. In a deflationary scenario you want to liquidate assets as cash is king. However post QE the situation has changed - cash is being trashed therefore the last thing you want to do is sell an asset - this has helped to keep the bubble from deflating too rapidly. People are now terrified to hold cash for fear of it becoming worthless.

geoffky

This post reminds me of early 2007......where are they all now? they all done a runner..Hamish only appeared on hpc after the northern rock run and oh boy was he a very worried man..He admitted it himself,he was cacking his pants..

Tiddlywinks

mrandmrswilliams wrote: »

I won't be going in a care home.:) We've planned our future and a care home is something I'll never need.

I'm genuinely interested in what plan you have in place to prevent you needing a care home. Here are those I can think of...

A. Moving in with relatives? As another poster has said, some illnesses can make your care needs very personal indeed (dementia can strike at any time and you can live for 10 years or more from diagnosis with middle and latter stages causing incontinence) and where care is required 24 hours a day. Would you want your children or grandchildren to be changing you? Perhaps they could employ carers to come in but that would be very expensive indeed and not much less impersonal than being in a care home.

Also, your family members may develop troubles of their own that may not fit with your needs.

B. Employ carers for your own home? Again, some conditions might make it impossible to live independently - visits from carers for 3 - 4 times a day may not be enough to keep you safe.

C. One way ticket to Switzerland - I don't mean this to be disrespectful, it is an option to avoid long term care BUT you have to be of sound mind to make that call and some conditions can arrive suddenly and take away your choices.

Don't take this the wrong way as I am not wishing you ill but even those with the healthiest of lifestyles cannot predict where their health will take them in later years - parkinsons, stroke, arthritis, MS, dementia can all be VERY life limiting and I think it is short sighted not to plan for these eventualities and accept that some family members will not be able to care for older relatives - not because they don't love them enough but due to their own particular circumstances.