50% house price crash does not = more affordable homes

qwert_yuiop

westernpromise wrote: »

I think all these utopian pipedreams about droids and robots are simply unduly influenced by clich! from popular entertainment


Yes, Will Robinson


Anything like that would also be impossibly costly for many people to own if it was actually capable of useful work. In ancient Rome, human slaves were astonishingly expensive.

It was similar in old America. A young slave was worth the equivalent of $100,000. Some true believers in the self evident truth that all men are created equal like George Washington had hundreds of slaves. Give me liberty or give me death, or something.

Herzlos

GreatApe wrote: »

Anyway at some stage we will have enough homes but we won't stop building new homes

Why won't we stop building new homes? We stop building new homes every time there's a recession and sales dry up.

MaxiRobriguez

lisyloo wrote: »

Prices are still rising and that’s with only 3 months to go to no deal.
It’s a lot more resilient that I thought.

Prices are based on supply/demand.

The demand side has fallen in the run up to Brexit but crucially the supply side too has fallen as everyone waits to see what comes of Brexit.

The only two things which will create an increase in supply are the unemployment rate jumping to 7%+ or central bank interest rates going to 2.5%+, which will create forced sellers. Until then, prices are going nowhere.

Edit: Remember too the biggest demographic of home owners are those without a mortgage, and these people will simply not take a lower offer unless they really, really have to.

buglawton

MaxiRobriguez wrote: »

The only two things which will create an increase in supply are the unemployment rate jumping to 7%+ or central bank interest rates going to 2.5%+, which will create forced sellers. Until then, prices are going nowhere.

In effect, the only thing that'll increase supply is homelessness. How ironic.