House prices

Jack_Johnson_the_acorn

MobileSaver wrote: »

"people struggling to sell"?!?!? Land Registry report for August 2017 states...

https://www.gov.uk/government/news/uk-house-price-index-hpi-for-august-2017

His explanation for that will be either,

1, You're stupid if you believe government stats.
Or
2, yeah but what about the sold quantity.

Sold prices prices don't determine prices anymore. Or Foxtons shares have dropped so hahaha.

Crashy_Time

Jack_Johnson_the_acorn wrote: »

His explanation for that will be either,

1, You're stupid if you believe government stats.
Or
2, yeah but what about the sold quantity.

Sold prices prices don't determine prices anymore. Or Foxtons shares have dropped so hahaha.

Number 2 nails it, you get a Gold Star, high prices on tiny volumes mean a lot of people can`t sell their house. :T

Crashy_Time

Jack_Johnson_the_acorn wrote: »

Nope not really. Because if you choose to work like most civilised people do, you won't be aspiring to live in social housing. You'll likely want to be a homeowner. Unless you cant rent a luxury apartment in Edinburgh for a fiver a month like those lucky soul's on that HPC website.

Plus you generally buy a better property than the soical stock.

Can you figure out where your very appealing little scenario breaks down?

Jack_Johnson_the_acorn

Crashy_Time wrote: »

Can you figure out where your very appealing little scenario breaks down?

No, do go on. I'm dying to hear your expert opinion. I mean you're a perfect example of how to play the property game.

If you work and earn an average wage you wont be entitled to social housing & neither should u aspire to. Sitting on the edge of my seat now in anticipation of your insightful knowledge.

MobileSaver

Crashy_Time wrote: »

Number 2 nails it, ... high prices on tiny volumes mean a lot of people can`t sell their house.

Since when is 100,000 transactions a month considered "tiny volumes" ?!?!?!?

Crashy, seriously, you need help; you cannot possibly believe the carp you are posting? As I have said before, one of the problems you and the HPC crowd have is that you are too scared to admit you are wrong while the vast majority of people (over 100,000 in fact in August and over 1 million in the last 12 months) just get on with life and enjoy their homes safe in the knowledge they're paying off their own mortgage, not their landlord's.

sevenhills

Jack_Johnson_the_acorn wrote: »

If you work and earn an average wage you wont be entitled to social housing & neither should u aspire to. Sitting on the edge of my seat now in anticipation of your insightful knowledge.

I know different areas have different lettings policies; but here in Leeds earnings is a minor issue in the lettings policy.
25% of housing is let to those that have been on the housing list the longest, I know of people that own their own house - but still qualified for social housing.

calicocat

Crashy_Time wrote: »

Why are people struggling to sell houses in the North if they are such a good deal? :rotfl:

I’m in the north, houses where I am often get snapped up in days, and I don’t see houses struggling in general , but I am just talking about where I am.

Prices for some have stayed pretty much the same for some in the last 4 years, generally the smaller 3 bed semis , others have gone up.

Some link I looked at said my house is down 16% over the last few years, but in reality this isn’t the case as they are selling for more than 4 years ago. Not that it matters greatly to me right now as it is my home.

buglawton

To re-quote the initial post:

Gorgeous_George wrote: »

There is a possibility that interest rates could rise next month. I'm not as confident as some people but let's assume that they do. This would be a huge downward pressure on house prices... <snipped>
GG

I suspect that the only effect will be to depress prices of all other non-essential goods except for housing. This is exactly why the Chancellor is in such of a dilemma.

- He needs to control inflation due to the simple remit he's been given. Raising rates will divert money to interest payments - less money for consumer goods - and raise the £. So it might work.

- But to raise the rate would depress economic activity for the same above reasons. And eventually depress tax take for HMRC.

The base rate is the other side of the coin called Tax & Spend. Yet the 2 are treated as totally decoupled dimensions. A way of passing the buck around really.

michaels

I think we forgot to mention Halifax October back up to 4.5% yoy - timber...err?

http://www.bbc.co.uk/news/business-41898943

Thrugelmir

buglawton wrote: »

I suspect that the only effect will be to depress prices of all other non-essential goods except for housing. This is exactly why the Chancellor is in such of a dilemma.

- He needs to control inflation due to the simple remit he's been given. Raising rates will divert money to interest payments - less money for consumer goods - and raise the £. So it might work.

- But to raise the rate would depress economic activity for the same above reasons. And eventually depress tax take for HMRC.

BOE controls interest rates not the Chancellor. Their mandates being to control inflation and provide financial stability. The independence of the BOE removes political pandering. The Chancellor as a consequence has far less room to manoeuvre. Expect a neutral cost budget.