Why are house prices still so high?

Brown_Bear

sofarbehind wrote: »

Thanks. As someone on the 'poor end' I wish I had understood this 15 years ago. Now I just have to work out what I'm going to do about it..

You could try getting a job with the pension scammers or the internet banking fraudsters involved in push payment frauds. They seem to be doing well at the moment.

triathlon

GreatApe wrote: »

Well there are two ways to look at it

1: be happy that the majority do get hand downs
2: be sad that you dont and be resentful of those in group 1

#2 really does not help anything so I choose #1

As mentioned about a decade ago I was poor and I didn't even realize it
While I had an ok income about £25,000 at the time I had nothing else and of course post university I started out with nothing or actually negative net assets due to student loans

If you want to get better off there are only a few ways to go about it.
1: get higher paid work and keep getting higher paid work
2: start a successful business or work for yourself in some way
3: marry into wealth

If I had to advise someone I would advise #3 because it is the most likely and if you really try it can be even more effective than #1 & #2

One of my friends a true working class boy married into wealth will probably get £10 million + he and his kids are sorted I laugh when I think of it I tried #1 & #2 and worked some years 363 days of the year and I am only at a fraction of his net worth and inheritances.

Without a doubt you are trolling, is this you way of trying to get a bitter message out there that hard work gets you nowhere as those who inherit will do better than you, which is not totally true I might add,

GreatApe

triathlon wrote: »

Without a doubt you are trolling, is this you way of trying to get a bitter message out there that hard work gets you nowhere as those who inherit will do better than you, which is not totally true I might add,

Your not half as smart as you think you are, triathlon

GreatApe

ruperts wrote: »

Half a house unless they plan to screw their average of one sibling out of their inheritance (which given your comments about gold digging earlier I wouldn't be surprised if you've considered). They'll also have to wait until they're about 60-years-old on average to receive it, which is a bit late for raising a family of their own. Not to mention the real possibility that their parents might want or need to release equity for a variety of reasons.

Yes they get half a house, but whoever they partner up with or marry will also get half a house from their side of the family. So their household will get 1 inherited house

It is actually more than this because only about half of the wealth gifted and inherited is via housing there is a tremendous amount of other wealth also passed down

In total about £6 trillion per per generation (30 years) is passed down

phillw

triathlon wrote: »

is this you way of trying to get a bitter message out there that hard work gets you nowhere as those who inherit will do better than you, which is not totally true I might add,

It's not that hard work gets you nowhere, it's just not a very consistent way to make you rich. Especially if you are employed.

Inheriting or marrying requires less effort, but has other barriers to entry.

Essentially if knowing how to get rich was easy then we'd all be doing it. Working hard is what they tell everyone to do, so it's unlikely to have any real benefit. You need an edge, once you have that edge then you may have to work hard to make it happen. It's the edge that is important.

PhilE

House prices are still high, as demand exceeds supply. It would take a massive economic crash, the kind that leaves you worried about where your next meal comes from, to permanently affect house prices.

Even if immigration were stopped altogether, which it won't be at this point, the UK population will continue to rise.

Many Brexiters had the impression that house prices would drop, and they would pop down the estate agents to buy a few mansions.

As with the saving of the NHS, you didn't quite think that one through, Im afraid.

phillw

PhilE wrote: »

Many Brexiters had the impression that house prices would drop, and they would pop down the estate agents to buy a few mansions.

The people to benefit from brexit have already been informed, mostly they were the hedge funds who got information that was passed to Farage who went on TV and lied that the result was likely to remain. Reese Mogg settled the family feud after his dad tried to stop us joining the EU in the first place and was made a laughing stock.

I'm sure they send their thanks and hope you don't cause too much trouble on your way out the door.

The-Joker

When you’re in a world with trillions of dollars of negative-yielding debt, nothing really makes sense.

Interest rates are the price of money. And when that price is negative… what does that say about the world?

AG47

PhilE wrote: »

House prices are still high, as demand exceeds supply. It would take a massive economic crash, the kind that leaves you worried about where your next meal comes from, to permanently affect house prices.

Even if immigration were stopped altogether, which it won't be at this point, the UK population will continue to rise.

Many Brexiters had the impression that house prices would drop, and they would pop down the estate agents to buy a few mansions.

As with the saving of the NHS, you didn't quite think that one through, Im afraid.

It's looking like the 30%+ property crash due to bexit no deal uncertainty is back on the cards.

phillw

AG47 wrote: »

It's looking like the 30%+ property crash due to bexit no deal uncertainty is back on the cards.

What a difference a day makes.