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Debate House Prices


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All of a sudden "HPI" seems to be a bad thing.

135

Comments

  • mayonnaise
    mayonnaise Posts: 3,690 Forumite
    Bantex wrote: »
    Went to an "open house" thing a couple of weeks ago with a young couple who are looking to buy a 1 bed flat. Out of around 20 people there at least 75% were investors. My friends got outbid.

    How do you know? Did they wear an 'investor' name tag, or did you ask each and every one?
    Don't blame me, I voted Remain.
  • MFW_ASAP
    MFW_ASAP Posts: 1,458 Forumite
    mayonnaise wrote: »
    How do you know? Did they wear an 'investor' name tag, or did you ask each and every one?

    I thin it's a requirement for these sorts of open house things. They also make sure that everyone signifies their class positions. Working class people have to wear cloth caps, middle classes have to wear bowler hats and the upper classes all wear top hats.
  • Bantex_2
    Bantex_2 Posts: 3,317 Forumite
    mayonnaise wrote: »
    How do you know? Did they wear an 'investor' name tag, or did you ask each and every one?
    I talk to people and most were happy to discuss their portfolios.
  • chewmylegoff
    chewmylegoff Posts: 11,469 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    purch wrote: »
    All those presenters who have been transferred to Salford are worried in case they ever get sent back to work in London

    They sold their nice house in London, and bought a mansion in Cheshire with the proceeds, but at the rate it's going when they sell the mansion all they will be able to buy in London is a tent in the corner of Battersea Park :eek:

    Battersea Park? They won't take riff raff public servants in their tent city. They might be able to pitch a tent in Finsbury Park or Hackney Marshes though...
  • mayonnaise
    mayonnaise Posts: 3,690 Forumite
    Bantex wrote: »
    I talk to people and most were happy to discuss their portfolios.

    Of course.
    Don't blame me, I voted Remain.
  • mobfant
    mobfant Posts: 293 Forumite
    Part of the Furniture Combo Breaker
    mayonnaise wrote: »
    Of course.

    I've had the same experience on various open houses. And feedback from agents backs it up. Of course it's not the same everywhere, but in popular locations like Brixton or Hackney, it certainly is.
  • Bantex_2
    Bantex_2 Posts: 3,317 Forumite
    mobfant wrote: »
    I've had the same experience on various open houses. And feedback from agents backs it up. Of course it's not the same everywhere, but in popular locations like Brixton or Hackney, it certainly is.
    This was Croydon.
  • DervProf
    DervProf Posts: 4,035 Forumite
    CLAPTON wrote: »
    how did the credit crunch i.e. an inability to borrow, lead to high house prices?

    The credit crunch was the result of what led to high house prices. Low interest rates are what have prevented them from becoming low.

    A property shortage is the underlying problem, low interest rates are the "catch 22" fix.
    30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.
  • DervProf
    DervProf Posts: 4,035 Forumite
    MFW_ASAP wrote: »
    Lots of new buyers were plunged into negative equity during the housing crash and so any HPI gains were good news for them. Once we are above pre-HPC levels then they will all be out of NE and so HPI is no longer a good thing.

    Back in 2006, I remember HPI widely being seen as a good thing, despite little or no NE.
    30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.
  • CLAPTON
    CLAPTON Posts: 41,865 Forumite
    10,000 Posts Combo Breaker
    DervProf wrote: »
    The credit crunch was the result of what led to high house prices. Low interest rates are what have prevented them from becoming low.

    A property shortage is the underlying problem, low interest rates are the "catch 22" fix.



    we need to build more houses: the rest is incomprehensible
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