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Debate House Prices
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House prices to SURGE beyond peak thanks to Help to Buy
Comments
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marathonic wrote: »As would you have been if you had chosen a career path that involved taking a percentage. There's no point in trying to fool yourself, or anyone else, into believing that you wouldn't be.
In my opinion, calling people like solicitors, estate agents and insurance salespeople parasites has a tone of jealousy towards it. I don't feel that anyone has a right to call anyone a parasite just because, at second-level education, they chose a different career path to you.
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I agree with this, but how many of these "parasites" castigate the public sector for the same reasons? I can see that insurance is necessary so it follows that IT to support it is useful to society. Probably not as useful as say a nurse or a teacher but still useful.Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.0 -
I agree with this, but how many of these "parasites" castigate the public sector for the same reasons? I can see that insurance is necessary so it follows that IT to support it is useful to society. Probably not as useful as say a nurse or a teacher but still useful.
I can see the point about insurance being a necessity but certain services, although not a necessity, do give some value to society as a whole.
Take, for example, estate agents (and I'll probably get flamed for this). If there was no such thing as an estate agent, people would revert to selling their houses in a similar manner to selling their cars.
What percentage of people sell their cars without knowing their true value and end up getting 10%, or even 20%, less than it's worth?
Anyway, this is a whole other topic so I'll try not to sidetrack this thread...
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IveSeenTheLight wrote: »Mortgage lenders lend to make money.
If the housing maket proves to be more stable / we see sustained HPI, the mortgage lenders will see decreased risk on the money loaned and the mortgage product market will become more competative.
Mortgage rates usually go up (other than linked to the BR) if they want to reduce the money lent.
If the loans are less risky, they want to be more competative.
As with the house prices, they may come down in the short term but when the bubble bursts the risks will return and the rates will go up.Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social environment. Most people are incapable of forming such opinions.0 -
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IveSeenTheLight wrote: »In real terms in your opinion (just to clarify)
Nominally they will increase just less than inflation (in your opinion)
I think price means nothing value is everything.
Price will depend on how many units of currency the BOE expands the supply in the next decade. Value can be measured many ways, at the moment yes property is around 20% overvalued, there will come a time when property is undervalued by any number of measures. But the price is irrelevant.0 -
IzzyFreedman wrote: »I think price means nothing value is everything.
Price will depend on how many units of currency the BOE expands the supply in the next decade. Value can be measured many ways, at the moment yes property is around 20% overvalued, there will come a time when property is undervalued by any number of measures. But the price is irrelevant.
So let's start at the beginning of the home ownership cycle.
Potential buyer views a property and is willing to make an offer.
Is the nominal price relevant?
Is the "real term" valuation from 2007 relevant?
Is the "real term" valuation from 1996 relevant?IzzyFreedman wrote: »I think price means nothing value is everything.
Price will depend on how many units of currency the BOE expands the supply in the next decade. Value can be measured many ways, at the moment yes property is around 20% overvalued, there will come a time when property is undervalued by any number of measures. But the price is irrelevant.
How do you calculate that property is 20% overvalued?:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
marathonic wrote: »I can see the point about insurance being a necessity but certain services, although not a necessity, do give some value to society as a whole.
Take, for example, estate agents (and I'll probably get flamed for this). If there was no such thing as an estate agent, people would revert to selling their houses in a similar manner to selling their cars.
What percentage of people sell their cars without knowing their true value and end up getting 10%, or even 20%, less than it's worth?
Anyway, this is a whole other topic so I'll try not to sidetrack this thread...
There is nothing wrong with a number of "parasites" providing you have a healthy thriving host.
The problem arises when the host gets sick.
Hopefully your IT skills will enable the insurance company to become more efficient and less of one."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »There is nothing wrong with a number of "parasites" providing you have a healthy thriving host.
The problem arises when the host gets sick.
Hopefully your IT skills will enable the insurance company to become more efficient and less of one.
By that reckoning, you could say that anyone that accepts cash for anything is a parasite.....0 -
marathonic wrote: »By that reckoning, you could say that anyone that accepts cash for anything is a parasite.....
Why? ......."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
IveSeenTheLight wrote: »
How do you calculate that property is 20% overvalued?
How do you calculate that property is undervalued?
I would say that without going into details my valuation holds more water.0
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