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Debate House Prices
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Should we listen to the Nordics?
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Thrugelmir wrote: »Eventually everyone.
How?
If the two of us are unable to get a mortgage how do we decide who gets to rent that nice house we both like?
Great for the landlords who have been able to pick up cheap yield thanks to the implementation of the 'Graham rules'.
Are you thinking of the benefit of reducing mortgage debt but missing the transfer of wealth from poor to rich and the concentration of wealth amongst the already well off?0 -
If the two of us are unable to get a mortgage how do we decide who gets to rent that nice house we both like?
Price would be the usual way for the market to allocate goods in short supply.
But I think the usual suspects would prefer a lottery, or maybe waiting lists.....“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”0 -
HAMISH_MCTAVISH wrote: »Price would be the usual way for the market to allocate goods in short supply...
but does that have to be price that's supported by 4 times joint income mortgages, HTB, etc? wouldn't any old price do just as well?FACT.0 -
HAMISH_MCTAVISH wrote: »Price would be the usual way for the market to allocate goods in short supply.
But I think the usual suspects would prefer a lottery, or maybe waiting lists.....
Either you are not listening to what is being said, or you are just being purposely difficult for the crack.
Price is defined by many things. The availability of debt being just one factor. If you increase the availability and access to the funds (debt) house prices will rise.
If you decrease it, they will fall.
This happens even with short supply, as short supply itself does not create the money needed to buy.
For possibly the third time though, this thread is NOT about supply. It's about credit risk. The two issues are seperate.0 -
the_flying_pig wrote: »but does that have to be price that's supported by 4 times joint income mortgages, HTB, etc? wouldn't any old price do just as well?
no, it has to be a price that brings supply and demand into balance
so building more would reduce the price or halving peoples wages etc0 -
HAMISH_MCTAVISH wrote: »Price would be the usual way for the market to allocate goods in short supply.
But I think the usual suspects would prefer a lottery, or maybe waiting lists.....
A little like the German rental threads. Plenty of grass is greener but little in the way of data.
According to Numbeo (never heard of it) LTV's and mortgage as a % of income are pretty much the same in the UK and Norway. Bet they've got more renters paying through the nose though.0
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