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Debate House Prices


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When will house prices go back to 07 levels

245

Comments

  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Or woo, and indeed hoo, depending on your position on the housing ladder.

    It's not really anything to celebrate or cheer really, as any situation is a double edge sword. If house prices stagnant way below inflation for tens of years it will probably go hand in hand with our economy stagnating as well. So you get a cheap(er) house, but you're operating in a poor economy. Pays your money, takes your choice I guess.
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Cleaver wrote: »
    Why is this a 'silent killer'? Sounds alright really - houses get more affordable for people and they don't crash suddenly in price for people who currently who own. I understand the bigger economy stuff, but for individuals it's an okay situation.

    Well, it seems we are following the Japan route.

    That, generally, is not seen as good....for anyone.
  • Cleaver
    Cleaver Posts: 6,989 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Well, it seems we are following the Japan route.

    That, generally, is not seen as good....for anyone.

    I have a good friend who has lived in Japan for years and he still can't really get his head around why it's a bad thing. People just happily get on with their lives and stuff stays the same price. I know there's lots of complex economic reasons why it's bad overal for the country, but for joe public it's not a major concern really is it? I'm being slightly tongue in cheek, but you know what I mean.

    And I think it's still up for debate if we're going down the 'Japan route'. We'll probably have our own route, for better or worse.
  • We sold our house in 2010 and it made more than sales of other houses on the same estate in 2007. Depends where you live I suppose; some areas have been devastated and some areas are virtually unscathed. Location, location, location, as they say.
  • Inflation is the "silent killer" - every year, relatively the value of the house stays the same (broadly) but inflation means that in fact the value of the the house is going down by a few per cent every year.

    What is it going down against though? Not against wages unless we start seeing wage inflation. Not against savings, unless we start seeing interest rates rising.
  • I would love for there to be a housing boom again, people taking equity out to buy stuff, really kick start everything again
  • geneer
    geneer Posts: 4,220 Forumite
    We sold our house in 2010 and it made more than sales of other houses on the same estate in 2007. Depends where you live I suppose; some areas have been devastated and some areas are virtually unscathed. Location, location, location, as they say.

    Of course you did.
  • geneer
    geneer Posts: 4,220 Forumite
    Cleaver wrote: »
    It's not really anything to celebrate or cheer really, as any situation is a double edge sword. If house prices stagnant way below inflation for tens of years it will probably go hand in hand with our economy stagnating as well. So you get a cheap(er) house, but you're operating in a poor economy. Pays your money, takes your choice I guess.

    What was the alternative Cleaver?
  • Dan:_4
    Dan:_4 Posts: 3,795 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Cleaver wrote: »
    Do you live in Aberdeen or wherever it is that Sibley lives?

    No, why? I live in Horley, Surrey.
  • Sibley
    Sibley Posts: 1,557 Forumite
    Ninth Anniversary Combo Breaker
    2007 prices are about the norm in most Kent areas.
    Anything decent holds its price. People dont need to sell so either get the asking price they want or stay put.

    With rents rising their is no panic to do anything silly.
    We love Sarah O Grady
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