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Debate House Prices
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Blog on current housing situation
Comments
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Hamish - you and Clapton are the only two people who make these claims. I think you got your ideas from a newspaper article by Stephanie Flanders which sank without trace.
The collapse was worldwide, and was without doubt caused by all sorts of dodgy mortgages and property valuations. All the western banking systems and all the western governments played their part.
TruckerT
The fall is prices was about 20% after 2007 : hardly a collapse
the real problem then was the collapse in house building which sadly is stopping people finding nice and affordable homes for their families.
the increase in house prices over the last few months shows that the vast majority of people who put their money where they mouth is are willing to pay the current prices which are broadly back at pre-2007.
I'm comfortable that there is no serious reports that blamed residential UK house prices or mortgages for the banking collapse
Generally, In 10 years time few will have regretted buying a house in this period but a lot of people who hold back will be deeply regretting it.
London may well be in small bubble territory but even that isn't certain.0 -
HAMISH_MCTAVISH wrote: »We know.
And that's OK, as neither does Brit.
Which is why he thought prices would fall 50% by Xmas 2009.:rotfl:
The reason why the arithmetic of the housing market is unfathomable is because the housing market is artificially manipulated by the lenders and by politicians.
TruckerTAccording to Clapton, I am a totally ignorant idiot.0 -
I learnt that irresponsible lending and too low interest rates fuel property bubbles and collapses before 2007. Now I see even lower rates and a return to irresponsible back again re-inflating the bubble again.
Unlike the previous cycles everything done was done to stop this bubble correcting unlike before. I believe the 20 year cycle is irrelevant on this basis and we will have a downturn a lot sooner. Do you agree chuck?
1. Why have you removed the "First Time Buyer's Strike" claim fron your strapline. Are you now in the market but unable to afford?
2. On the assumption you haven't bought, are you still waiting for yet another mythical "crash" and then jump on the bandwagon?
Incidentally, the 'blogger' is no Estate Agent.Mark now has over 30 years experience as an entrepreneur and investor – initially backing himself but now also backing others.
He is Chair of Search Acumen which provides conveyancing searches.
He is an Advisory Partner at Rockpool Investments which facilitates tax efficient business funding opportunities of between £2 and £10 million.
He is Chair of Profile Financial Services which delivers low cost regulated financial advice to the mass market.
He owns Highbank House Ltd which funds property developments in north-west Kent.
He founded SearchFlow, transforming the way that legal practitioners access land and property data. SearchFlow became the leading property search provider with over 3000 law firms as its customers. He sold the business for £26 million in 2006 when it had a turnover of £150 million and 300 staff.
In 2003, Mark was recognised by the National Business Awards as “Entrepreneur of the Year”.0 -
The reason why the arithmetic of the housing market is unfathomable is because the housing market is artificially manipulated by the lenders and by politicians.
TruckerT
the market is simple to understand for any one that has two brain cells and doesn't believe conspiracy theories
basically an expanding population and too few houses being built.0 -
The fall is prices was about 20% after 2007 : hardly a collapse
the real problem then was the collapse in house building which sadly is stopping people finding nice and affordable homes for their families.
the increase in house prices over the last few months shows that the vast majority of people who put their money where they mouth is are willing to pay the current prices which are broadly back at pre-2007.
I'm comfortable that there is no serious reports that blamed residential UK house prices or mortgages for the banking collapse
Generally, In 10 years time few will have regretted buying a house in this period but a lot of people who hold back will be deeply regretting it.
London may well be in small bubble territory but even that isn't certain.
Our recent woes were not caused by a collapse in house prices, they were caused by a collapse in western economies which were in turn caused by a collapse in western banking systems.
The collapse in western banking systems is universally attributed to their failed exploitation of imaginery property values.
It is irrelevant to try to blame or to exonerate any particular component of the western world economy.
TruckerTAccording to Clapton, I am a totally ignorant idiot.0 -
the market is simple to understand for any one that has two brain cells and doesn't believe conspiracy theories
basically an expanding population and too few houses being built.
So why were prices sky-rocketing prior to 2007/8? There was no shortage of houses/flats being built.
TruckerTAccording to Clapton, I am a totally ignorant idiot.0 -
HAMISH_MCTAVISH wrote: »It's wholly relevant.
As UK mortgage lending didn't cause the problem, then restricting UK mortgage lending is not the solution.
Who is 'restricting' UK mortgage lending? And why?
TruckerTAccording to Clapton, I am a totally ignorant idiot.0 -
HAMISH_MCTAVISH wrote: »It's wholly relevant.
As UK mortgage lending didn't cause the problem, then restricting UK mortgage lending is not the solution.
Not entirely true as overtrading and reckless lending practices by one or two mortgage instutions did hilight their woeful lack of capital and liquidity which didn't exactly endear confidence in the system. I believe they were lending on residential mortgages.
Interesting you cite in your earlier post 6% of UK mortgages became bad and doubtful. I was under the impression it was below 1%."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
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