Housing gloom 'worst in 30 years'

Datasafe_2

Kez100 wrote: »

My feelings are that houses will always be worth something in this country- we just don't have an oversupply.

Japan had a bigger supply problem than us, and that didn't stop their prices crashing. The overcrowded island arguement just doesn't hold water.

Pez2

!!!!!!? wrote: »

I doubt we'll see the same scale of 'destruction' where quite literally whole neighbourhoods become deserted and derelict and values there become effectively zero. The resulting carnage destroyed lenders' capital on a large scale and hence the credit crunch which has hit the world.

I wouldn't be quite so sure. Remember that at the bottom of the last crash their where some places in the north where you could buy whole rows of houses for a few grand. Many of those areas are not much improved since then and could easily revert back to those levels.

adr0ck

Datasafe wrote: »

Japan had a bigger supply problem than us, and that didn't stop their prices crashing. The overcrowded island arguement just doesn't hold water.

your not understanding the basic principles of the Japanese housing market

you need to understand how quickly the japanese replace their homes

think its every 30 Yrs

compared to UK every 1000 Yrs

therefore you cannot compare these markets

Paul_N_4

adr0ck wrote: »

your not understanding the basic principles of the Japanese housing market

you need to understand how quickly the japanese replace their homes

think its every 30 Yrs

compared to UK every 1000 Yrs

therefore you cannot compare these markets

Can you find a link for this info please. I tried a few months ago after you mentioned about this before but couldn't find anything. Genuinely want to read about how their property system works.

adr0ck

Paul_N wrote: »

Can you find a link for this info please. I tried a few months ago after you mentioned about this before but couldn't find anything. Genuinely want to read about how their property system works.

http://www.economist.com/finance/displaystory.cfm?story_id=10431721&CFID=2510984&CFTOKEN=17826789

m00m00

I'd be amazed if some of the new build city centre flats will last 30 years.

hasn't the bull's constant mantra been it's the LAND that's expensive not the buildings anyway.

Datasafe_2

adr0ck wrote: »

your not understanding the basic principles of the Japanese housing market

you need to understand how quickly the japanese replace their homes

think its every 30 Yrs

compared to UK every 1000 Yrs

therefore you cannot compare these markets

Replace does not mean in addition to, so the amount of housing is the same. The amount of land remains the same.

So everyones house in the uk is going to last 1000 years? yeah right. That statement is just pie in the sky. How many 1000 year old houses can you think of? :rolleyes:

adr0ck

m00m00 wrote: »

I'd be amazed if some of the new build city centre flats will last 30 years.

hasn't the bull's constant mantra been it's the LAND that's expensive not the buildings anyway.

lands expensive in this country because of our overly (IMO) restrictive planning

adr0ck

Datasafe wrote: »

Replace does not mean in addition to, so the amount of housing is the same. The amount of land remains the same.

So everyones house in the uk is going to last 1000 years? yeah right. That statement is just pie in the sky. How many 1000 year old houses can you think of? :rolleyes:

i didn't say everyones house in the uk is going to last 1000 yrs

i said the rate at which we build new homes will take us approx 1000 years to replace our housing stock

in japan it takes approx 30 years

neverdespairgirl

Datasafe wrote: »

How many 1000 year old houses can you think of? :rolleyes:

Not many, but my parents' place in Kent was built in the 1320s, from memory.