House Prices 'Will Hit 15 TIMES The Average Income', Leading Economists Predict

HPC_Ghuol_Hunter

This following article has really let the doctor loose among the loons over at HPC centrum today...

http://www.thisismoney.co.uk/money/mortgageshome/article-4825858/House-prices-hit-15-TIMES-average-income.html

Back of the net.

:beer::j:money::p;):D:T:rotfl::cool:

Jack_Johnson_the_acorn

HPC_Ghuol_Hunter wrote: »

This following article has really let the doctor loose among the loons over at HPC centrum today...

http://www.thisismoney.co.uk/money/mortgageshome/article-4825858/House-prices-hit-15-TIMES-average-income.html

Back of the net.

:beer::j:money::p;):D:T:rotfl::cool:

GET IN!

in all seriousness, as a homeowner I care very little about HPI, I wan't to be rid of any mortgage / rent before I retire and that's about it.

HPI gives a little freedom for later on in life if myself and the Mrs decide to downsize and live a more comfortable lifestyle. Also means a larger inheritance for our son which can only be a good thing for him. :beer:

Koldweather1

I think this is one of those "we will be driving flying cars by 2000" type predictions you used to get in the 70s and 80s. Utter nonsense and has no real grounding in any semblance of reality.

HPC_Ghuol_Hunter

This has really got their knickers in a twist at goon centrum. TheCountOfNowhere is threatening to march on Downing Street. Gud times.

westernpromise

Koldweather1 wrote: »

I think this is one of those "we will be driving flying cars by 2000" type predictions you used to get in the 70s and 80s. Utter nonsense and has no real grounding in any semblance of reality.

I know what you mean, but the trouble is, nobody thought average prices of 10x salary were possible either, yet they've been a fact of life in London for years now.

The article is cracking HPC bait, in that it blows apart their cherished assumptions while telling them stuff they refuse to allow to be posted on HPC:

• Young Britons hoping a house price crash will let them buy a home could see their dreams thwarted - check
• home values ... can continue rising for several generations - yikes!
• we may all end up renting and owning small stakes in homes through pension funds - yikes!

The HPC comments are very funny too, in that they have no rational rejoinder to the logic. There's the argument from personal incredulity: "Equally they my hit 1.5 average earnings. I actually suspect my estimate is more likely than theirs", from "Houdini" - some powerful reasoning there.

Equally persuasive is "Darby Ram", who provides his own penetrating analysis and reminds us that we should dismiss the article because it's only the views of "a pea-brained former member of the BoE's MPC", who's obviously a complete lightweight compared to himself.

One of the authors has also been tactless enough to voice a heresy and so deserves nothing but HPC's scorn ('David Miles has also spoken out against "attacks on landlords", the poor dears.').

The whole reaction, as they are presented with all the information and reasoning that is normally censored out of HPC, is really most entertaining.

mystic_trev

I haven't browsed HPC for ages, but it's always worth a look, if only for a laugh!

I see this particular news item has bought out the three Village idiots. CountOfNowhere, Bruce Banner and Venger. These guys must have lost serious amounts of money and are now unable to buy any decent Property. They've been banging on about a HPC for the last dozen years, or so, meanwhile Property prices have doubled or trebled in the areas they're looking at.

I don't usually take much pleasure in other people misfortune. In their cases I've made an exception.:D

chucknorris

mystic_trev wrote: »

I haven't browsed HPC for ages, but it's always worth a look, if only for a laugh!

I see this particular news item has bought out the three Village idiots. CountOfNowhere, Bruce Banner and Venger. These guys must have lost serious amounts of money and are now unable to buy any decent Property. They've been banging on about a HPC for the last dozen years, or so, meanwhile Property prices have doubled or trebled in the areas they're looking at.

I don't usually take much pleasure in other people misfortune. In their cases I've made an exception.:D

Did the countofnowhere not move to a luxury villa in France?

westernpromise

mystic_trev wrote: »

I haven't browsed HPC for ages, but it's always worth a look, if only for a laugh!

I see this particular news item has bought out the three Village idiots. CountOfNowhere, Bruce Banner and Venger. These guys must have lost serious amounts of money and are now unable to buy any decent Property. They've been banging on about a HPC for the last dozen years, or so, meanwhile Property prices have doubled or trebled in the areas they're looking at.

I don't usually take much pleasure in other people misfortune. In their cases I've made an exception.:D

You forgot to mention Bland Unsight, who fancies himself as the site's resident intellectual. IIRC he's a comprehensive school physics teacher, so he's bright compared to someone like Venger who can only communicate in note form, but this is a low bar indeed. How bright they are really is best indicated by whether they are still short property or not after 14 years of complaining about it. This is a test they largely fail.

Venger in particular appears to be excruciatingly dim. He continues to wish for a crash despite having noticed that in a crash nobody sells:

Oh yes; 2008. I forget that some people consider that a HPC. (Admittedly there are places where prices did fall back and are fairer value today than 2007) Didn't touch my own area in South Manchester/Cheshire. Not really. Very few houses went up for sale, and national charts of falls weren't considered as proper falls for many owners, 'my house is special'.

You have to admire the circularity of the thinking. There was a crash in 2008, but he didn't manage to buy even then because "very few houses went up for sale". Therefore it wasn't a proper crash, one in which there are lots of lovely cheap houses, and so he's still waiting for a crash that meets his expectations. This is even though he's now seen an actual crash and should know what they're actually like (very few houses go up for sale, basically); instead he insists a better crash (for him obviously; everyone else can go hang) will be along soon.

You simply cannot help people like that.

Crashy_Time

http://www.express.co.uk/life-style/property/845308/house-prices-property-for-sale-news

Crashy_Time

Being banned from HPC has obviously had a very profound and long lasting effect on some posters here, pity only about six people, on a good day, are reading this fascinating output.......:(

Malthusian

Leading Economists Predict

I stopped listening to the opinions of so-called "expert" economists 10 years ago. When I received my Economics degree.