Do you want house price to rise or fall?

lisyloo

phillw wrote: »

If house prices were lower but wages were the same, but that is unlikely to be the outcome.

Lower house prices would allow you to offer lower wages.

I don’t think that’s true in my industry (IT).
Wages haven’t moved much over the last 10-15 years.

It might be true in low pay/min wage jobs.

Wages in IT have never been related to living costs and that’s probably true for most white collar jobs.
Most companies couldn’t offer lower wages due to competition for skills in skilled professionals.

lisyloo

A_to_B wrote: »

High house prices kills creativity. It just locks you into high mortgage repayments with hardly any cash left for anything else. It simply benefits landlords and that's it. How many prospective Bill Gates or Elon Masks have to work second jobs in supermarkets just to keep up with mortgage repayments.

If they were that creative they’d find a solution - like living on a canal boat for example

Thrugelmir

lisyloo wrote: »

If they were that creative they’d find a solution - like living on a canal boat for example

Options are limited though. Impossible for everyone to find an alternative.

lisyloo

Thrugelmir wrote: »

Options are limited though. Impossible for everyone to find an alternative.

We weren’t talking about everyone, we were talking about bill gates/Elon musk/James dyson types so very few.
They’d find a way if they were that creative/inventive.
They’d live in a tatty caravan if they have enough self-belief.

Living with parents is also an example that would be available to most when starting out in life, so it isn’t essential to partake in the housing market immediately in your youth unless you’re in the minority who’ve been in the care system or abandoned by parents (in which case I agree you are disadvantaged but a minority).

Thrugelmir

lisyloo wrote: »

We weren’t talking about everyone, we were talking about bill gates/Elon musk/James dyson types so very few.
They’d find a way if they were that creative/inventive.
They’d live in a tatty caravan if they have enough self-belief.

These are all extremely bright and well educated individuals. Someone born on Teeside (for example) unfortunately is going to struggle to gain the same exposure to the real world. However talented they be when they were born. Opportunities require more than creativity. Access to a network of contacts comes in handy too.

lisyloo

Thrugelmir wrote: »

These are all extremely bright and well educated individuals. Someone born on Teeside (for example) unfortunately is going to struggle to gain the same exposure to the real world. However talented they be when they were born. Opportunities require more than creativity. Access to a network of contacts comes in handy too.

Absolutely.
Some are born much more privileged than others. That’s a fact.

However I think that to say everyone’s hopes and dreams in the uk are entirely shattered due to high house prices is an extreme exaggeration.
People born in this country are privileged on a global scale.
There are some (Alan sugar springs to mind) who have made something of themselves without having privilege on their side.

It’s more possible now for people of all classes and genders to go to university than its ever been despite debts.
My mother born in the 40s didn’t have the opportunity purely because of gender prejudice, so opportunities are better now.

High house prices are not putting opportunities/lives on hold e.g. more young people than ever now go to university.

They are making it harder for people to have a comfy retirement but longevity is playing a bit part there too.
They aren’t stopping people being inventive or incredibly talented people from making something of themselves on the whole.

Btw - I’ve already stated I’d like nominal stagnation to help younger people without hurting existing owners. I don’t believe it’s helpful to wish for a big crash as I don’t share the unicorn view that low house prices can come without damaging effects.

What is it you want me to do?
Sympathise with those born in one of the best countries in the world with a stable political system, freedom and opportunity?
Sorry but I think people born here are in general extremely lucky and even those of teeside share that (of purse there are exceptions who have suffered abuse, so I’m talk8gn generally).

20SmthngSver

Anyone with or without a mortgage wants house values to rise, naturally.

Anyone who doesn't have a house yet wants house values to drop, naturally.

Rising prices are not a good thing at the rate they've been rising, especially since Help to Buy which has swelled the big 4 pockets to astonishing levels wholly unnecessarily which has caused prices to rocket for FTB.

swindiff

I have a mortgage, I do not want house prices to rise, what good does that do me? If I want to move the house I move to will have risen also, in fact if I am upsizing it will likely have risen by more than the value that my house has.
I have children who are all in their 20's and cannot afford to buy property atm. So actually I would prefer prices to fall, makes no difference to me already being on the housing ladder.

lisyloo

20SmthngSver wrote: »

Anyone with or without a mortgage wants house values to rise, naturally.

I wish we could move away from this idea that everyone is entirely selfish.
Most parents want to help their children and grandchildren.

20SmthngSver

swindiff wrote: »

I have a mortgage, I do not want house prices to rise, what good does that do me? If I want to move the house I move to will have risen also, in fact if I am upsizing it will likely have risen by more than the value that my house has.
I have children who are all in their 20's and cannot afford to buy property atm. So actually I would prefer prices to fall, makes no difference to me already being on the housing ladder.

But if you re-mortgage to a better deal or the end of your fixed rate term, you will have reduced your mortgage while your house value has gone up, so you'd be in a better position for a new deal as you have greater equity now than when you started the deal.