Friday, Jun 23, 2006
Cliff Darcy's latest take on the housing market
Motley Fool: The Terrible Truth About House Prices!
Frankly, I'm stunned that UK house prices have continued to rise for as long as they have. Indeed, according to data from the Halifax, the average house price has risen every single year since 1996, notching up a ten-year winning streak, as the following table confirms:
Posted by webmaster @ 04:32 PM (191 views) Add Comment
4 Comments
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1. Surfgatinho said...
Interesting to see wage inflation is well above 2% I'd have though that would have had more effect on overall inflation than it apparently has?
2. sirgoogle said...
Surfg
The inflation figures are worthless. Every time something on the index rises in price it gets removed from the basket of prices so that the basket iis made of things that are not really part of everyday life. E.G. The falls in inflation around easter were due cheap DVD players (and just how many of those do we need to buy a week eh!). Interestingly fuel, debt repayments and the cost of homeownership is not included.
The rich BastRD2 in the "city" want the entire nation on its knees paying through the nose just to live.
3. bidin'matime said...
Many would say that house prices had gone so low in the early 90's that the ratio we have now might well be more appropriate, but the graph on this site (View graph) shows the ratio going back to 1953, showing clearly that the current situation is more extreme than ever.
4. inbreda said...
We certainly are in a new paradigm. Not one that will see prices go up and stay up, but one that will see the largest peak to trough difference ever. With such a high proportion of bankrupts claiming the reason for default as simply "borrowed too much" the credit contraction, when it comes, is going to reveal the true effect of the 'new paradigm'.