So no higher than 2004 then!

UserJong_2

So outside London house prices are about the same for a decade?

Crashy_Time

MrRee wrote: »

In truth, once you buy and climb aboard the gravy train you benefit from the unique amazing money growing properties of bricks and mortar.

I struggled like hell to buy, but now I may be considered asset rich. It's just how it is and how it happens.

No-one is to blame - just a shortage of property.

It was too much credit that did it, nothing to do with the actual value of the house. Let`s see how much shortage there is if this sell off gets legs. The problem with it all being based on lending is that you have less and less people able or willing to buy from you at bubble prices.

Crashy_Time

michaels wrote: »

People would still be willing to pay the same proportion of their income on housing, there wouldn't suddenly be any more houses.

People seeing price drops would wait for more price drops, they only paid out (or should I say borrowed) because they were conned into believing that property would always rise or stay high. When that is shown to be wrong it is game over.

chucknorris

Crashy_Time wrote: »

People seeing price drops would wait for more price drops, they only paid out (or should I say borrowed) because they were conned into believing that property would always rise or stay high. When that is shown to be wrong it is game over.

You mean like in the early 70's, late 80's and 2008, so conned by who? Were they too lazy or stupid to look at the historical data? There is nothing new about house price corrections, there will another one along sometime, my guess is sometime in the 20's.

Crashy_Time

chucknorris wrote: »

You mean like in the early 70's, late 80's and 2008, so conned by who? Were they too lazy or stupid to look at the historical data? There is nothing new about house price corrections, there will another one along sometime, my guess is sometime in the 20's.

Yes. And besides, nothing from the 70`s and 80`s is comparable to the madness we witnessed during the blowing of this bubble.

ukcarper

Crashy_Time wrote: »

Yes. And besides, nothing from the 70`s and 80`s is comparable to the madness we witnessed during the blowing of this bubble.

Prices increased faster in the early 70s then they are now

Crashy_Time

ukcarper wrote: »

Prices increased faster in the early 70s then they are now

The numbers of people involved was much smaller, most people stayed in a council house?

ukcarper

Crashy_Time wrote: »

The numbers of people involved was much smaller, most people stayed in a council house?

Most people didn't stay in council houses in the 70s there is no way a single person or childless couple would have got a council house. Home ownership in creased more between 1971 and 1981 than it did between 1991 and 2001 and it has decreased since then.

Crashy_Time

ukcarper wrote: »

Most people didn't stay in council houses in the 70s there is no way a single person or childless couple would have got a council house. Home ownership in creased more between 1971 and 1981 than it did between 1991 and 2001 and it has decreased since then.

Are you trying to say that the biggest credit boom in history, with the general public having access to more credit than ever before is somehow the same as the things we have already seen and is not uncharted waters?

ukcarper

Crashy_Time wrote: »

Are you trying to say that the biggest credit boom in history, with the general public having access to more credit than ever before is somehow the same as the things we have already seen and is not uncharted waters?

I'm saying that prices have boomed as much in the past if it's all down more credit why did home ownership hardly rise in the 90s and fall between 2000 and 2011