Its been quite a week on the bbc news, I have followed what I can and now feel really sorry for those just waiting for a HPC.
Start of the week there was a slot on the 6 o'clock news talking about the way britain has changed over the past 5 years, Many more of us now living alone.
It had a couple of people saying how they prefered for the time being to live alone, But one day to buy somewhere with someone else. This goes against all whats been said about prices being unaffordable and many having to shack up together just to buy. It also sends out the message that housing demand is going to increase over the next few years if this trend continues.
Then April 12th a big day on housing for the BBC - The first article "where now for house prices" it was the first indication of things look set to change and that the bubble looks set to burst, Telling homeowners with larger mortgages to get ready and prepare yourselves. So this article I thought was a good bit of news for the HPCers
Then on the 6 o'clock news slot another housing bit regarding key workers and their chances of buying property. To buy in the area they work is at an all time low.
Did'nt really know how to take this because it in some ways keeps the HPI wagon rolling, Prices always go up and will continue to and key workers will need affordable housing etc.
The same piece also went on to say that mortgages were still affordable, 17% of a persons take home pay again more HPI spin, get on the market now while you still can.
Finally it showed some EX MOD houses being sold and people camping out overnight to buy and the price £150,000 still not cheap.
http://search.bbc.co.uk/cgi-bin/search/res...l&link=next Key workers 12/04/2007
Then at 10pm we had the famous FP and the under pressure investor, I still think they knew what they were doing by putting all the HPI stuff on earlier and the HPC stuff on later, 10pm on a Friday night.
I think most would of watched the 6pm news and gone out for the evening with that firmly in their heads, HPI to continue.
Finally a point on the 10pm piece, I thought it was great and FP really put his point over, But for many the 4-6 year wait for a correction to take full effect may be to long and that is if it does ever happen. So I feel many will still take the plunge now while rates are still fairly low.