BOE's David Miles: House Prices will "Rise for Years"

RenovationMan

Graham_Devon wrote: »

Some would ask if you are trying to hard.

Too hard for what? What's up Graham, don't you like your own words thrown back at you? What's good for the goose and all that?

All this false piousness you've started to portray recently is laughable. You're no better (or worse TBF) than the bulls you target.

Graham_Devon

RenovationMan wrote: »

Too hard for what?

To hard to make a non point, of no relevance to the discussion to start yet another "please give me attention - pleeeeeease" argument.

suburbanwifey

CRASH_BANG_WALLOP wrote: »

they are not going up everywhere! surely you are not that thick missy

Apparently I am that thick, as I think they will continue to rise, albeit at a slower pace than the last decade. But tell you what, we'll see won't we. None of us here have crystal balls, so we will all have to wait and see. If you are right, I'll take my hat off to you.

RenovationMan

Graham_Devon wrote: »

To hard to make a non point, of no relevance to the discussion to start yet another "please give me attention - pleeeeeease" argument.

Interestingly enough from a phychological standpoint, I simply reflected your own point back at you. Hence your analysis is self-critical.

Graham_Devon wrote: »

So you are happy with the return on investment to come from price manipulation?

So long as you benefit personally?

Nice.

The 'Nice' comment you made at the end of your post was clearly a device to try and cause a negative response from wotsthat and allow you to indulge in yet another argument. Do you need attention?

Pimperne1

N1AK wrote: »

Sorry SUW but you got lucky. Judgement had very little to do with it. If you'd been 19 in 2007 and bought then the property would be worth around 20% less (ignoring the considerable inflation during the last 5 years). You'd probably be locked in negative equity and wishing you hadn't.

I rented for 5 years after leaving uni (2006-2011). Bought a house in 2011 for the price flats were going at back in 2006, own 50% of the property and will have it paid off before I turn 31.

I also got lucky when it came to timing and I'd prefer a system where prices were more consistent so luck was less important.

Wrong I would say. Even if you judged that buying a house in 2007 was a good idea I would say that your judgement was good. It would have been better if you could see into the future and bought in 2009 but either way in 25 years you will be looking back and saying - "Me buying a house was pretty good judgement". If you are only looking 5 years into the future then house buying can be fraught with danger but no-one does that.

DervProf

RenovationMan wrote: »

Do you need attention?

Says the man with the "acreage" :rotfl:

I'm trying to decide if you do this for a laff, or you are really serious.

If it's for a laff, well done !

If not, it is funny anyway. I think this is known as a win-win situation (at your expense).

Thrugelmir

Graham_Devon wrote: »

Miles also suggested that companies will sit on land, rather than building on it, in order to manipulate and push existing house prices up.

Builders have bank loans. To service the debt they need to generate profit. This they achieve by selling houses.

Built houses which are unsold cost money. Factoring in the time it takes to develop a new site. Builders are unable to turn production on and off like a tap.

N1AK

Pimperne1 wrote: »

Wrong I would say. Even if you judged that buying a house in 2007 was a good idea I would say that your judgement was good. It would have been better if you could see into the future and bought in 2009 but either way in 25 years you will be looking back and saying - "Me buying a house was pretty good judgement". If you are only looking 5 years into the future then house buying can be fraught with danger but no-one does that.

It really is too early to say if buying in 2007 was a good long term decision. I think it probably would be vs renting perpetually but that's not certain.

Regardless if you simply bought when you could afford, rather than considering the market, then it is a luck game and those who bought in 2007 were unlucky compared to people who have bought at most other times in the last 30 years.

Sibley

!!!!!!, you live in a shanty town in the 3rd world and had to buy your missus out of a catalogue. Everyone's a winner compared to you!

Tut tut. Sticks and stones and all that.

I'm sitting on my condo balcony looking out over the sea as we speak.
Cataloge wifes in Bangkok. I'm with the cataloge 45 kilo Go Go girlfriend. :rotfl:

wotsthat

Graham_Devon wrote: »

So you are happy with the return on investment to come from price manipulation?

So long as you benefit personally?

Nice.

I don't really feel a strongly as you that the price is being manipulated so I don't need to question my investment ethics.

People buy and hold all sorts of things because they anticipate an increase in value.

If you think there are countless riches to be had by investing in land there's nothing to stop you getting involved. Add a builder to your portfolio plus shares in all the other people that you think p**s profit at your expense - BP (diesel), British Gas (gas & electric), South-West Water (water) etc. etc.