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About LinkBacksRead more.As the FTSE 100 has its best ever three months, UK house prices return to pre-Lehman levels.
Read more.As the FTSE 100 has its best ever three months, UK house prices return to pre-Lehman levels.
(waits quietly for Rave to post a rant...)
Unemployment is still rising...
Fake headlines.
It's simply demand - it's always been there and coupled with low interest rates this is no surprise.
Crosshair VIII Hero (WIFI), 3900x, 32GB DDR4, Many SSDs, EVGA FTW3 3090, Ethoo 719
That and the lack of supply on the market.
Prices might be high still but there is little activity in the market, the agents are empty (2 have closed within 50m of my flat this year and the rest look dead).
Rental prices are down to. This time last year I would probably have expected my rent to rise £50pcm, but it just dropped by £25pcm... (tied to the retail price index I think).
Still not a good time to be an estate agent, not that I feel sorry for them that much!
Unemployment always lags behind all other markers in the economy. Usually recoveries are well established on other metrics before unemployment starts to go down.Originally Posted by DeludedGuy
However, I am still not convinced by the housing market. All we have at the moment is a small number of people chasing after an even smaller number of properties.
Not around too often!
Gentlemen, get out your bicycle pumps, and get that bubble growing!!
You'd think they'd have learnt the first time around.
Only caused by artificial inflation of prices by our wonderful banking system and government who think that we can continue in the same vain we have for the past five years.
It's just like all this talk that Lehman's was the cause of the bubble bursting, eh NO it was well on it's way to crashing well before that ever happened, just our illustrious leaders are so far removed from reality that they didn't see what was going on until that event when they finally realised they had to pull their fingers out, but they still had their own grubby snouts in the gravy trough.
Want house prices to rise? Bring back 120% mortgages. No wait, can't cause' the bankers are still stuffing their own pockets. Less City workers just mean more to go around. As if any UK government is ever going to let their City meisters go "hungry".
As someone with my house on the market looking to buy one of similar value (To get out of an hour (one way) commute by car) all I can say is this isn't news. My house looks like it might sell within a week of marketing and I'm having real trouble finding properties that haven't sold already. Houses are selling so quick due to large demand. Everyone like me who put off moving for the last year is now trying to move.
My personal prediction - prices will level out but don't expect them to go down. There is just way to much demand.
Also I'm only 28 and single but I'm still able borrow at least 4 times my wages on a mortgage. If you have a deposit or decent equity then your fine. Its just the first time buyers who are stuffed (We come down to to supply and demand again).
Edit - for the record if I was a first time buyer now instead of 6 years ago I'd be stuffed too.
Last edited by cheesemp; 02-10-2009 at 01:08 PM.
So fewer workers meaning more money to go around.No wait, can't cause' the bankers are still stuffing their own pockets. Less City workers just mean more to go around. As if any UK government is ever going to let their City meisters go "hungry".
With such an incite on economic theory, I'm guessing your not someone who's worked near the markets?
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Spelling or typos, if one is generous, aside, there's no point to the discussion if one takes things out of context..... *shrug*So fewer workers meaning more money to go around.
With such an incite on economic theory, I'm guessing your not someone who's worked near the markets?
There's no knowledge in hatred.
Not surprised by the headlines really. Looking around my home area, the rare amount of houses that i do see go on sale, seem to sell within a week or two - (i even heard sealed bids are back as well)
Only have to look at the supply and demand, to many people chasing few available properties. An expanding population, throw in immigration and lack of planning for new housing, many people on existing low interest BOE trackers or svr's i just cant see prices going down to far from here. If interest rates and unemployment goes up considerably then can see some pressure on prices, unemployment indeed is a lagging indicator, just have to see where interest rates go.
Just throwing it out there that having people squandering money is good for the economy in many ways.
Take footballers, the fans are in my mind stupid enough to pay for Sky Sports + extremely expensive tickets, the players can be paid an annual salary a week.
They then go and keep all the people in the Bently factory employed, Lansons champaign in good business and the hookers n drug dealers too.Bigger boy changed my title.There's no knowledge in hatred.
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I reckon its the dead cat bounce they will be back on there way down early next year.
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