Will House Prices Crash in 10-20 Years?

michaels

allthingsmustpass wrote: »

6 minutes later !

So this is what you do with your life? Try and make others feel small on an internet forum because they didnt have the opportunities you did to buy a house?

All this (alleged) freedom, and look at you.

You come here to be envied. No-one envies you. No-one respects you. They pity you.

I still saw no dispute of the facts about crashys predictions coming to fruition, because there is no dispute. Other than your silly flat contradiction flying in the face of the observable facts.

Poor you. Yes. Poor. Where it counts you are absolutely poverty stricken. A modern day morality tale.

I envy him. He spotted and opportunity to seize economic rent and took it whilst others like me sat out too long having been scared by the 89 crash and stagnation.

Sure the rules are wrong with house building limited but we all had a chance to play the game and mr norris has played it well. Good for him.

chucknorris

michaels wrote: »

I envy him. He spotted and opportunity to seize economic rent and took it whilst others like me sat out too long having been scared by the 89 crash and stagnation.

Sure the rules are wrong with house building limited but we all had a chance to play the game and mr norris has played it well. Good for him.

Thanks, but I know that you don't really envy me, you just wish that you had done something similar (I often think that about other things too). Envy is a much more powerful emotion, that would lead someone to log onto to a forum and start hurtling insults about, and make a complete fool of themselves, just like someone has done on this very thread here today.

michaels

chucknorris wrote: »

Thanks, but I know that you don't really envy me, you just wish that you had done something similar (I often think that about other things too). Envy is a much more powerful emotion, that would lead someone to log onto to a forum and start hurtling insults about, and make a complete fool of themselves, just like someone has done on this very thread here today.

Luckily we are confident enough in our life choices not to care what others think and can just ignore their jealousy. Sure we had opportunities they didn't - but the reverse is also true.

Crashy_Time

wotsthat wrote: »

It's a pity your predictions are crap when there's money on the line and they're about something which affect your life rather than the minutiae of Hamish & Aberdeen.

Your housing prediction has cost you £450/ month for how many years?

You'd look somewhat smarter if you were outside of the ponzi by virtue of living in a paid for house rather than getting a landlord to play on your behalf.

Is £450 a lot of money to you?

Aberdeenangarse

Crashy_Time wrote: »

Is £450 a lot of money to you?

It is for your Landlord!

Crashy_Time

Aberdeenangarse wrote: »

It is for your Landlord!

Not even sure I understood that?? Is English your first language?

BobQ

westernpromise wrote: »

Few are aware that it was not until 1988 that Lawson finally got rid of this sexist anachronism.

A timely reminder of this taxation policy!

It sits quite neatly with the civil service "granting" women who resigned following marriage a marriage gratuity. One months pay per year of employment for surrendering their accrued pension. Great deal, not.

The crash then happened and is the main thing anyone remembers about the UK property market of that era. But by about 1996 prices were starting to recover ...................

Are you suggesting that this tax change was a factor in the housing crash of that time? Surely the high interest rates were more to blame?

wotsthat

Crashy_Time wrote: »

Is £450 a lot of money to you?

Not really but it's all relative.

It probably represents a near 10% rental yield for your landlord whereas I'm paying c 2% in mortgage interest. If I was still paying 5% I would've cleared the mortgage already.

I'd rather use the difference to put into a pension with a 40% tax rebate and clear the mortgage with tax free cash if it's worthwhile.

With all the money you've put into mortgage payments and rent you could've been mortgage and debt free and living in a nicer gaffe too. £450 isn't much but, in your case, it's the epitome of dead money.

ruggedtoast

anotheruser wrote: »

So all those people who bought houses at rock bottom prices in the 1970's/1980's and 1990's - will they struggle in the future?

There's loads of that generation of people who will come to sell their house, probably around the same time. Do you think house prices will crash down because there will suddenly be loads on the market?
Or are we still not building enough houses / able to fill houses easily / will have many more migrants to fill the houses / more buy to let landlords...

Debate!

The boomers are facing the demographic catastrophe they have created and are about to harvest the whirlwind.

Decades of rightist low tax, high house price, neoliberal boomer pleasing governments have slashed public services for everyone and every thing other than the golden generation.

The remainder is now meant to care and pay for an absolutely colossal number of asset rich, but often cash poor, pensioners, who outnumber them and will live for decades expecting free healthcare, generous pensions, state handouts, free bus travel and heavily subsidised or fully funded twilight care.

Gen X and Y is meant to provide all this for them while

A) Having nowhere proper to live themselves
Being unable to save due to the extortionate costs of private rents
C) Subsisting on wages that are so far below the cost of living that many families rely on in work benefits to just about survive
D) Having no chance of receiving any of the above benefits themselves when they retire

Just to compound the problem, the boomers have now voted us out of the EU. Mainly as far as I can see 'Because we weren't in the EU in the 70s and there are too many foreigners'

Well a lot of things were different in the 70’S. House prices included, and an awful lot of those low low wage jobs the boomers have benefited from having done by other people, are done by the people they now now longer want around.

Despite the Tories having doubled the national debt to a trillion quid just as Gen Boomer starts to cash out of the working economy (and any responsibility for paying it back) themsleves, there simply isn't the money in the economy to keep them in the means to which they have become accustomed and to shrink the population of young people. Unless we all start working for nothing.

I would say house prices will drop in real terms through rampant inflation.

The £250k 'My house is my pension' many older people seem to have been relying on like some kind of lotto God of unearned wealth, isn't going to last long when care home bills already cost £700 a week and there isn't an army of minimum wage staff from Poland to staff them.

westernpromise

BobQ wrote: »

A timely reminder of this taxation policy!

It sits quite neatly with the civil service "granting" women who resigned following marriage a marriage gratuity. One months pay per year of employment for surrendering their accrued pension. Great deal, not.



Are you suggesting that this tax change was a factor in the housing crash of that time? Surely the high interest rates were more to blame?

No, in the recovery. Prices crashed because of interest rates and this hid the inflationary effect of the tax change.