What Crash ?

wlfc1

Just had an email from Ourproperty.co.uk and prices in my area are clearly up again, Nationwide have also just released the HPI figures for June and prices have risen 1.1%.

I can't see any signs of this crash that the doom and gloom mongers keep banging on about?

BTman

Why are people who would like HPI / house prices to return to sensible levels doom and gloom mongers?

Do you think 10%-20% HPI every year is really sustainable for ever and ever?
Or are you just starting another crash thread for the attention?

CB1979_2

hopefully this will continue for another 14 months or so, I'll get my free cash from the sale of my place and go travelling

dannyboycey

wlfc1 wrote: »

Just had an email from Ourproperty.co.uk and prices in my area are clearly up again, Nationwide have also just released the HPI figures for June

Two impartial bodies then? :rolleyes:

It'll take a while (6-8 months is my guess) for official Land Registry figures to show Year on Year falls in all areas, but there'll be no 'spinning' of the figures then. It'll be game over.

Dead_Eye_Jones

Yeah those who understand basic economics well understand that huge HPI is not a good thing for us.

Maybe OP is just getting a bit carried away in a childish "who is right" argument. I think most of us however simply hope for a happy ending - the longer it goes on the more people that get hurt. But hey dont let that get in the way of ya point scoring. *sigh*.

wecanhelpu

I hope she keeps posting though, so I can look at her avatar

mystic_trev

wlfc1 wrote: »

Just had an email from Ourproperty.co.uk and prices in my area are clearly up again, Nationwide have also just released the HPI figures for June and prices have risen 1.1%.

I can't see any signs of this crash that the doom and gloom mongers keep banging on about?

OK lets use NATIONWIDES figures on a 10 year basis.

The average Property is now worth £184,000 If HPI is the same for the next 10 years the average home will the be worth £578,781 Do you think that will happen?

tara747

wlfc1 wrote: »

Just had an email from Ourproperty.co.uk and prices in my area are clearly up again, Nationwide have also just released the HPI figures for June and prices have risen 1.1%.

I can't see any signs of this crash that the doom and gloom mongers keep banging on about?

Yes, you are quite right. Just because it hasn't happened yet, it never will. No chance. Thank you for your insight into the world of economics, I feel a lot better now.

dannyboycey

wlfc1 wrote: »

I can't see any signs of this crash that the doom and gloom mongers keep banging on about?

It also bothers me that I'm labelled a 'doom and gloom monger'. I'm not saying there will be a crash for yours or anyone elses benefit. Call me harsh, but I couldn't care less about joe public's financial housekeeping. That's their business.

What you fail to realise is that many of these so called doom mongers have made a judgement based on a sound understanding of economics.

Many of the more 'bullish' people on this forum talk about out of control inflation as if it's a really good thing! A house worth 30 times your salary and a toilet roll to wipe your ar*e on costing £20 doesn't sound like my idea of fun. The current rate of HPI is unsustainable. Fact.

We're in the final stage of the upward part of the cycle, which is characterised by people believing they must get a property at any cost before it's too late and they get priced out. The same thing happened last time. The same thing happened in the US and Japan. But I suppose we are different? I suppose Gordon was telling us the truth when he said "no more boom and bust"? I suppose it's different this time?

sm9ai

Yeah the ironic thing is those who want these silly price rises are actually doom and gloom mongers as high hpi will burn everyone.

phlash

I don't really see the seas rising from global warming either, but it doesn't mean that global warming isn't going to happen/happening!

Sheessh. Blinkered.:rolleyes: