MSE News: House prices rising faster, Halifax says

christopher1977

HAMISH_MCTAVISH wrote: »

The market price is set at that point where both buyers AND sellers agree to transact.

Problem is the market price is rigged at the moment as you well know:D

Anyway i'm going to be a homeowner in a couple of months (if mortgage is agreed!) so i will then not care at all if they go up or down in price because i'm staying put for 15-20years:T

HAMISH_MCTAVISH

christopher1977 wrote: »

Problem is the market price is rigged at the moment as you well know:D

Well the market price has certainly been artificially repressed for the last few years of mortgage rationing.

But that's ending now.:D

harrup

harrys_dad wrote: »

You have to be kidding, especially about the "supply response". Developers (most of whom contribute to Conservative Party funds) are sitting on over 440000 agreed planning permissions for houses yet to be built. Current build levels are the lowest for decades, and barely half what is needed to stand still. Builders do not build much quicker, because rising house prices mean land on their books becomes more valuable, so profits (and executive pay) go up without actually doing anything.

This is an artificial bubble, inflated by Government money, to help their friends make profits and to try to generate a "feel good factor" ready for election time in 2015 before it all goes pop again.

The simplistic analysis that says "rising house prices good falling house prices bad" has no relation to reality for most of the population. The only people that gain are those who are "downsizing" , those who are inheriting an extra house from a dead relative, and Buy to Let landlords. Rising prices makes it more difficult to buy your first house, or to trade up, which is what most people do. it also puts rents up.

I speak as a house owner with no mortgage, so stand to gain by the price of my main asset increasing (or at least my children will when I die, which may not be long given what this is doing to my blood pressure). Unlike some, I still have a concern for others, including my grandchildren, who are facing a future of significant housing uncertainty.

Yes...and ditto.

I literally have no dog in the houseprice race. We are fortunate that we own our house outright, we have other assests and investments and frankly, I don't really care - for ourselves - whether HP go up, down or stay the same.

But for the life of me, and I have carefully considered posts from Hamish and other pro HP increase advocates over the years, I cannot understand HOW high HP are a grand thing in the scheme of things.

It is terrible for FTB, the vast majority of parents wouldn't be that joyous about the prospect of equity release to assist their kids just as they enter into their golden years either, half of the youngsters leaving uni can't get a job in their chosen/hoped for profession, there are cutbacks virtually anywhere be that in the public or private sector, no meaningful large scale new industries are on the horizon, full time, secure jobs are thin on the ground.....so WHO is going to pay for these ever more expensive houses and with WHAT?

Are the young people entering the housing market supposed to hope that their parents pop their clogs because that may be their best hope of buying or trading up? Is it really a good thing to drown themselves in immense debt? Especially in these economically uncertain times?

I simply can't see it.

I get the zealous interest in high HP from property investors and developers. But peddling this as "the truth" goes byond self-serving propaganda.

And nobody is THAT naive that they don't think that there is an intimate relationship btw. HP and a looming general election.:)

ess0two

Brummygold wrote: »

As a potential first time buyer and a member of a site where its members like to save money i do not see this as good news. Rising house prices do not benefit joe public. This is good news if you are a banker, property investor, and the like.

This site is good for money off coupons etc,but its hardly gonna effect house prices etc.

makeyourdaddyproud

Not so good news If you are trading up to a bigger property, we are going from a 3 bed to a 6/7 bed in a seaside town. Not only did we have to find a further 50k, we are facing an erosion on our life savings as well.

We have a significant share portfolio, I can only hope to god the portfolio will rise at an equivalent or better pace than house prices, or I might just cash them in and buy a couple of btls. Not sure what to do now following this news...

harrys_dad

The rich get richer, by owning their own increasing value asset, and several more that they rent out at a huge profit. The poor get poorer, by having their wages squeezed and their rents increased.

makeyourdaddyproud

harrys_dad wrote: »

The rich get richer, by owning their own increasing value asset, and several more that they rent out at a huge profit. The poor get poorer, by having their wages squeezed and their rents increased.

A job is not a rite of passage: if you wish to improve your amenity then do something about it such a starting a small enterprise. Moaning about it on this thread is not going to crystallise you a house.

DragonQ

Annoying. I bet by the time I'll be in a position to buy prices will have risen to pre-credit crunch levels again.

makeyourdaddyproud wrote: »

A job is not a rite of passage: if you wish to improve your amenity then do something about it such a starting a small enterprise. Moaning about it on this thread is not going to crystallise you a house.

I love this attitude that the poor should just start their own businesses. Are you American?

harrys_dad

makeyourdaddyproud wrote: »

A job is not a rite of passage: if you wish to improve your amenity then do something about it such a starting a small enterprise. Moaning about it on this thread is not going to crystallise you a house.

If you had taken the trouble to read my earlier post on this thread you would have noticed that I already have a completely paid for house. Believe it or not there are many of us on here who are concerned about other people, not just themselves. You are correct in one respect, I do not have a job, mainly because I have retired after 40 years of work.

makeyourdaddyproud

harrys_dad wrote: »

...Believe it or not there are many of us on here who are concerned about other people, not just themselves.

On this thread? Not in a million years.