house price madness

blinko

help to buy = 95% mortgage

One can buy a 600k house for only 30k deposit

System

The_White_Horse wrote: »

but i can't work out who is buying them!!

.

People who are richer than you, presumably.

I don't see why you need to know who they are, or what you would do with the information if you were told.

wymondham

but as everyone keeps telling me, high house prices are good for people and good for the country and must be maintained at all costs.... good to see prices are nice and healthy over your way!

ruggedtoast

I think he owns his house doesn't he. Probably had it a while.

MSE New Year drinks on you then Horsey?

Blacklight

I'm seeing the same round my way. Rises of at least 4% in nominal terms since 2007. It's just bubble upon bubble I tell you.

You have to have 3 jobs each and BOMAD and BOGMAD and BOGGMAD and your rich aunt to have left you millions just to think about having a little flat in Mayfair these days.

Personally the people I pity are them on the ISS. Rusty tin can that can't have cost more couple of quid to make. I could weld a few dustbins together and make that. Talk about shoebox! What do they want for an open plan kitchen-diner-bedroom-bog made out of tin? $150,000,000,000 that's what!.

You can't even raise anywhere near $7.5 Billion deposit on the average wage of a single mum, even with Help to Buy.

Worlds gone mad! We need a correction!

doughnutmachine

Last month I was a bit bored and went on rightmove to see how many houses were on sale in London for over a million.... It was something like eight thousand!!!!


Sheesh, I just don't know where the money comes from. Even a couple earning a hundred grand each would struggle to buy a million pound house.

harpoboy

Blacklight wrote: »

Worlds gone mad! We need a correction!

We have had the correction.

Q1 2008 to Q1 2009.

Market has been largely flat since then. It's only in the past 18 months or so that the market has started to recover.

House prices have a long way to rise yet.

Thrugelmir

blinko wrote: »

help to buy = 95% mortgage

One can buy a 600k house for only 30k deposit

Find me a lender who'll offer a mortgage on those terms.

Difference between the notional ceiling and the realities of the market.

purch

We don't do reality on here mate

danielhermann

I think if you see the increase in realty prices vis-a-vis the increase in consumer goods and inflation, you would find a co relation. The costs of construction have gone up. Also the facilities offered have also seen a rise. The price you pay is for the state of the economy at that point of time, the general neighbourhood, the facilities on offer like a school, a hospital, a park in the vicinity, the general crowd, the quality of construction, the type of fixtures etc. Purchasing a house is a big ticket purchase and a long-term purchase. Therefore purchase a house which not only meets your current needs but could accomodate certain future needs too. As long as you are not paying over the top, it is still value-for-money. Also remember, the seller always rues that price is not high enough and the purchaser always rues price is too high.