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Debate House Prices


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Nationwide Jan: +0.7% MoM +8.8% YoY

1246

Comments

  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    Dan: wrote: »
    Great news for everyone!

    I wonder how Brit, CarolT, WHF? etc are getting on these days?

    Dan. CarolT was the victim of sustained bullying. Particularly at the hands of that nasty piece of work, Dithering Dad.

    You should not celebrate her departure.

    Brit is updating his sig.

    !!!!!! joined the army.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    HAMISH_MCTAVISH wrote: »
    Yes.

    Still in single digits, still below previous nominal peak, and massively below the previous real terms peak.

    This so called 'boom' is showing a distinct lack of ambition so far....:)

    House prices can't increase by > GDP indefinitely. That's just maths.

    Nominal GDP is up ~4% over the last year.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    Generali wrote: »
    House prices can't increase by > GDP indefinitely. That's just maths.

    Nominal GDP is up ~4% over the last year.

    the maths clearly shows that house prices can increase by greater than GDP growth indefinitely

    and indeed it probably will unless we build sufficient for peoples wants
  • moneyinmypocket
    moneyinmypocket Posts: 908 Forumite
    Pump it, pump up the jam
  • wotsthat
    wotsthat Posts: 11,325 Forumite
    Graham_Devon wrote: »
    Show me any of my 40k+ posts where I cheer on reposession or do any of that you are talking about.

    Who said anything about cheering on repos?

    My musings assumed house prices would fall to a level approved by the DSE and that you'd buy a whole house - clearly a fantastical scenario.

    Point being, it's a bit rich to trying to garner sympathy for the crashaholics when you'd have zero sympathy for the HPI fans if the tables were turned.
  • HAMISH_MCTAVISH
    HAMISH_MCTAVISH Posts: 28,592 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Generali wrote: »
    House prices can't increase by > GDP indefinitely. That's just maths..

    Indeed.

    But they can rise a long way from here, for a long time yet...
    “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”
  • moneyinmypocket
    moneyinmypocket Posts: 908 Forumite
    House prices rises are here to stay. It's a supply and demand issue
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    CLAPTON wrote: »
    the maths clearly shows that house prices can increase by greater than GDP growth indefinitely

    and indeed it probably will unless we build sufficient for peoples wants

    Eventually a house would cost more than the entire output of the UK. That clearly isn't a tenable position.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    Generali wrote: »
    Eventually a house would cost more than the entire output of the UK. That clearly isn't a tenable position.



    in simple terms if you divide GDP into Housing (H) and Non Housing (N)

    now if GDP increases but our non housing costs stay unchanged
    then the increase in housing costs can absorb the entire increase in GDP

    which means that housing spending can increase at a higher percentage rate than GDP but would never equal GDP although it would over time, asymtotically approach
  • the_flying_pig
    the_flying_pig Posts: 2,349 Forumite
    CLAPTON wrote: »
    in simple terms if you divide GDP into Housing (H) and Non Housing (N)

    now if GDP increases but our non housing costs stay unchanged
    then the increase in housing costs can absorb the entire increase in GDP

    which means that housing spending can increase at a higher percentage rate than GDP but would never equal GDP although it would over time, asymtotically approach

    not sure what the appropriate smiley is here but, in short, i disagree with this.
    FACT.
This discussion has been closed.
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