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Debate House Prices
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House Prices Rising
HAMISH_MCTAVISH
Posts: 28,592 Forumite
An average of the major UK house price indices shows that prices have risen strongly by 4.7% since the start of this year.
http://blogs.independent.co.uk/2012/08/02/average-price-of-a-uk-home-is-now-205309/
Excellent news.
:beer:
http://blogs.independent.co.uk/2012/08/02/average-price-of-a-uk-home-is-now-205309/
Excellent news.
:beer:
“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”
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”
0
Comments
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Prices may well rise but values are falling.House Prices 2007/08 £200K, Silver £5oz
Ratio 40,000 oz to 1 house.
2012 Fallen to £160K, Silver risen to £20 per ounce. So house/silver ratio fallen to 8000.
Prediction for the end of the decade, will keep falling at current rate until 1000 oz or less valued same as average house.0 -
Interesting.0
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If they are saying that prices are up 4.7% so far since the end of 2011, and they are projecting that prices will increase by 3% in total during the calendar year 2012, aren't house prices actually now falling?0
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Treadstone2.0 wrote: »Prices may well rise but values are falling.
Actually a 4.7% rise in the last 7 months outpaces both inflation and wages, and massively outpaces "alternative stores of value" such as commodities.
“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 -
"claims a new report from property experts Assetz."
FAIL!0 -
FAIL!
Yet ironically, he's demonstrably been much closer with his predictions than the bear heroes such as Jonathan Davis or Capital Economics.
“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 -
HAMISH_MCTAVISH wrote: »Yet ironically, he's demonstrably been much closer with his predictions than the bear heroes such as Jonathan Davis or Capital Economics.
This isnt a prediction, they are spouting it as fact.0 -
This isnt a prediction, they are spouting it as fact.
And it is.....
They use data from Acadametrics, Nationwide, Halifax, ONS and Rightmove to create a blended index.
Don't hate the data just because it doesn't agree with what you wish had happened....;)“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 -
They are furious about this news over on hpc.co.uk. They are shouting!0
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HAMISH_MCTAVISH wrote: »Actually a 4.7% rise in the last 7 months outpaces both inflation and wages, and massively outpaces "alternative stores of value" such as commodities.
yes but as the housing market traditionally increases in the first half and falls back in the second half, it is in any way valid to compare its performance in the first half to "alternative stores of value" which do not follow the same seasonal pattern?
the prediction for the year from the same source in the same article is +3% which is roughly in line with general inflation.
so in other words "house prices flat in real terms".
i wonder if you would get similarly excited about the price milk remaining stable in real terms?0
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