House Value

Crashy_Time

letitbe90 wrote: »

It is called supply/demand, high property prices are common in pretty much all economically developed towns and cities, subject to population. You may fantasise about the day a house costs only 1x your salary at best, but you are living in lala land.

https://www.todaysconveyancer.co.uk/main-news/uk-property-transactions-fall-third/

quantumlobster

Crashy_Time wrote: »

https://www.todaysconveyancer.co.uk/main-news/uk-property-transactions-fall-third/

And yet property still costs what it it costs, you're still stuck in a bedsit, and the OP is still looking at buying a house.

Your analysis of the market and how selling works is consistently and reliably wrong.

Crashy_Time

quantumlobster wrote: »

And yet property still costs what it it costs, you're still stuck in a bedsit, and the OP is still looking at buying a house.

Your analysis of the market and how selling works is consistently and reliably wrong.

Really? I have been predicting falling transactions for some time now.

caprikid1

"Really? I have been predicting falling transactions for some time now. "


I think if you predict a crash for 20 years and one happens you can hardly been seen as a reliable pundit. I think your credibility gap is more of a chasm.


I predict in the next 60 years I am going to die.

Crashy_Time

caprikid1 wrote: »

"Really? I have been predicting falling transactions for some time now. "


I think if you predict a crash for 20 years and one happens you can hardly been seen as a reliable pundit. I think your credibility gap is more of a chasm.


I predict in the next 60 years I am going to die.

20 years? Who was predicting a property crash (or bubble for that matter) 20 years ago? However my point was about predicting falling transactions (because property is too expensive, and credit conditions have changed dramatically)

Albala

Crashy_Time wrote: »

20 years? Who was predicting a property crash (or bubble for that matter) 20 years ago? However my point was about predicting falling transactions (because property is too expensive, and credit conditions have changed dramatically)

Personally I've thought for many years that the market is overheated and that prices would drop, quite possibly dramatically, as I remember previously overheated markets dropping like bricks, and I can't think a market is sustainable when the average wage is increasingly far off the price of the average house, and when housing costs a far higher proportion of income than it used to do. But it hasn't happened. Difference between me and you is that I'm happy to admit I have been wrong....(so far, but eventually all markets get a drop of some sort- but the point is, I HAVE been wrong for about 10 years, and so far, how long have you been wrong for?):rotfl:

Crashy_Time

Albala wrote: »

Personally I've thought for many years that the market is overheated and that prices would drop, quite possibly dramatically, as I remember previously overheated markets dropping like bricks, and I can't think a market is sustainable when the average wage is increasingly far off the price of the average house, and when housing costs a far higher proportion of income than it used to do. But it hasn't happened. Difference between me and you is that I'm happy to admit I have been wrong....(so far, but eventually all markets get a drop of some sort- but the point is, I HAVE been wrong for about 10 years, and so far, how long have you been wrong for?):rotfl:

This isn`t a market any more though, it is a debt bubble propped up by central bank intervention, those who saw how this would play out were right in 2008, and also right that the social/economic mess caused by high house prices and the attempts to keep them high would morph into a wider political crisis (right about now) The idea that basic shelter should be really really expensive will go down as one of the daftest ideas (good for bankers though) in history IMO.