Do you want house price to rise or fall?

andrewf75

MobileSaver wrote: »

Yes, often discussed and every time it's debunked.



An odd thing to say considering this is the Debate House Prices section of the forum.



Around 100,000 properties are bought and sold every month and that's been consistent for years so please clarify what the "problem" is that I'm dismissing...

Bit of a delayed reply, sorry!

I'm well aware that plenty of people buy houses. Clearly that is the case or prices wouldn't be so high! The problem/crisis/call it what you like is the inequality. What I mean by this not being the place to discuss it is that people here are biased towards looking after their own finances rather than caring about the state of the country as a whole.

I actually don't think the problem is house prices. There is no reason why those on low wages should be able to afford to buy. But they should be able to rent at a much lower rate and have more stability.

snowqueen555

I also don't think you can just look at national figures, and just figures alone. There are regional and socio-economic issues you fail to take into account.

phillw

andrewf75 wrote: »

But they should be able to rent at a much lower rate and have more stability.

What do you mean by "much lower rate" & "more stability"?

If you mean that you shouldn't be able to ask them to leave or put the rent up, then buyers would end up subsidising them & why should we? If I was renting my house then I'd be complaining to the land lord about all the work that needs doing. I'll do it to my house when I can afford it, how would it be sustainable if renters can get a better deal for less.

lisyloo

phillw wrote: »

What do you mean by "much lower rate" & "more stability"?

If you mean that you shouldn't be able to ask them to leave or put the rent up, then buyers would end up subsidising them & why should we? If I was renting my house then I'd be complaining to the land lord about all the work that needs doing. I'll do it to my house when I can afford it, how would it be sustainable if renters can get a better deal for less.

I think the current legislation favours tenants
E.g. it take a landlord months to get a court case heard if they need to evict someone and even councils advise people not to make themselves intentionally homeless.

I’m a homeowner and tenant btw.

If people want security of tenure then they should do something about their circs - second/third job, move so you can buy rather than moan ts not a plate for them in their chosen location.
Harsh but fair.

triathlon

movilogo wrote: »

Just a simple poll to see what MSE members want.

PS: Please assume rise means a value higher than inflation and similarly, fall means value lower than inflation adjusted figures.

Alaternatively, you can also consider

rise = average house price / average income => ratio going up
fall = average house price / average income => ratio going down

Anybody who owns a house wants to see it rise in value, but after two great decades 2019 is going to be a little rest period, might even see some very slight falls in value. But I predict for 2020 it will be full steam ahead again, don't get caught out again you doom mongers.

swindiff

Not true if you read my previous post. I am a home owner and I would be quite happy to see the prices of property fall.

ukcarper

swindiff wrote: »

Not true if you read my previous post. I am a home owner and I would be quite happy to see the prices of property fall.

I'm also a home owner but I don't want to see prices fall but I would be quite happy with a period of stagnation.

AKRev01

As a first time buyer, fall crash and burn!

mwt_2

I selfishly want my property value to increase so when I come to remortgage my LTV falls in to the lowest bracket. However, I don't believe out of control property prices are a good thing, and I think we need to see a period of stability i.e. no rise/fall, so that earnings can catch up.


I don't see a massive house price crash as being good for anyone. Owners will be less likely to sell due to negative equity, reduced equity affecting onward purchase (such as higher LTV), unaffordability due to change in circumstances etc. The property market doesn't work like the whoopsie aisle in ASDA, the properties don't HAVE to be sold. The only exception will be reposessions and auctions, and they exist today, no crash needed.

phillw

mwt wrote: »

I selfishly want my property value to increase so when I come to remortgage my LTV falls in to the lowest bracket.

If property prices increase then it's because people have more money to spend, if there is more money to spend then lenders can afford to increase interest rates.