Guest The Relaxation Suite Posted August 27, 2009 Share Posted August 27, 2009 yep, +3.3%% QoQ, which would equal +13.9% a year. How can anyone think this is a good and sustainable thing, especially after what happened last time they were rising like this; it's not like it was 20 years/a generation ago so we think things have changed and it's all ok this time. At least the nationwide report makes it clear that as soon as forced sellers become a part of the equation or interest rates rise then we're going to lose all these gains we're seeing now. Don't get too upset about it. Remember the statistics are being manipulated to maintain public order. The economic fundamentals, for those who can be bothered to look them, show us that housing in the UK is still around 40% over-valued and this will be corrected at some point because the markets always corrects itself. Like I have said before, bears survive by being patient. Quote Link to comment Share on other sites More sharing options...
19 year mortgage 8itch Posted August 27, 2009 Share Posted August 27, 2009 (edited) up 1.6 haha its seems quite hard to swallow but to be honest like the rest of you i dont care anymore.i for one point blank refuse to ever buy at these prices +1 Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime. I'm going to learn how to fish instead Edited August 27, 2009 by daiking Quote Link to comment Share on other sites More sharing options...
moonriver Posted August 27, 2009 Share Posted August 27, 2009 up 1.6 haha its seems quite hard to swallow but to be honest like the rest of you i dont care anymore.i for one point blank refuse to ever buy at these prices I agree. I prefer to rent, than risk paying these ridiculous prices still being asked right now. Quote Link to comment Share on other sites More sharing options...
arby1 Posted August 27, 2009 Share Posted August 27, 2009 Don't get too upset about it. Remember the statistics are being manipulated to maintain public order. The economic fundamentals, for those who can be bothered to look them, show us that housing in the UK is still around 40% over-valued and this will be corrected at some point because the markets always corrects itself. Like I have said before, bears survive by being patient. I agree, I'm just baffled that this will be greeted as good news. Quote Link to comment Share on other sites More sharing options...
Guest The Relaxation Suite Posted August 27, 2009 Share Posted August 27, 2009 (edited) I agree, I'm just baffled that this will be greeted as good news. In a society where the ultimate status symbol is your own home, and where a large percentage of the population already "own" their homes (pay rent to Nationwide rather than Mr Aziz), the editorial line taken is bound to be rising prices = good. The young people and others waiting to buy are simply forgotten about. Also, we have lived through a long period where any amount of money can be borrowed from a bank, so endlessly rising house prices presented no real problem, so were always a good thing. Now that money is harder to borrow a new meme will gradually work its way round society - that high house prices are not always good, and can mean misery for a lot of people. Edited August 27, 2009 by D-503 Quote Link to comment Share on other sites More sharing options...
pete.hpc Posted August 27, 2009 Share Posted August 27, 2009 I still think this is temporary and they won't be able to keep the QE plates spinning forever, but it's time to acknowledge; NuLabour is the party of high house prices, they are completely reliant on prices not falling further and will do absolutely anything to stop this. They have destroyed the finances of the country with the sole intention of bailing out banks so wreckless they bankrupted themselves and the country, borrowers so wreckless they can only survive on 0% interest rates. NuLabour are the party of scum like those on Beeny the other night, buying "20 odd" BTLs so they don't have to work. They are the party of The Wilsons. They do not care for those generations that follow, or those who are not on NuLabours HMS Property. It's time for an election, and for the nation to make a choice. Quote Link to comment Share on other sites More sharing options...
piece of paper Posted August 27, 2009 Share Posted August 27, 2009 SIBLEY! Could we have your valuable input please? p-o-p Quote Link to comment Share on other sites More sharing options...
IMHAL Posted August 27, 2009 Share Posted August 27, 2009 I still think this is temporary and they won't be able to keep the QE plates spinning forever, but it's time to acknowledge;NuLabour is the party of high house prices, they are completely reliant on prices not falling further and will do absolutely anything to stop this. They have destroyed the finances of the country with the sole intention of bailing out banks so wreckless they bankrupted themselves and the country, borrowers so wreckless they can only survive on 0% interest rates. NuLabour are the party of scum like those on Beeny the other night, buying "20 odd" BTLs so they don't have to work. They are the party of The Wilsons. They do not care for those generations that follow, or those who are not on NuLabours HMS Property. It's time for an election, and for the nation to make a choice. All true... and depressing. Quote Link to comment Share on other sites More sharing options...
the_duke_of_hazzard Posted August 27, 2009 Share Posted August 27, 2009 I believe that this is a misconception - there would be a small second order effect but they adjust for the mix of houses sold. Your conjecture would be true if their index was just the mean average house price sold in the month, regardless of size, but I believe it is not.I haven't researched Nationwide but I did look it up for Halifax (http://www.lloydsbankinggroup.com/media1/research/halifax_hpi.asp): Mix-adjusted for what characteristics though? Flat vs flat? Terraced vs terraced etc? If there's no forced sellers and people are bringing cash in then I'd expect the better of these properties to be sold, not the worst. Quote Link to comment Share on other sites More sharing options...
Willy Weasel Posted August 27, 2009 Share Posted August 27, 2009 Do the Nationwide say how big their sample size is now? My guess is that it's now too small to be statistically significant. My prediction for falls for all three months of the last quarter still stands. Quote Link to comment Share on other sites More sharing options...
shedfish Posted August 27, 2009 Share Posted August 27, 2009 I feel sad for young people. +1 it does take a particular kind of callous stupidity to delight in a nation eating its young Quote Link to comment Share on other sites More sharing options...
better-than-expected Posted August 27, 2009 Share Posted August 27, 2009 I feel sad for young people. +1 Though we all moan on here about the whole mess. Can you imagine what it is like for this years school leavers? No job, no uni place and if you do manage to get a job then the chance that you will ever have enough money to buy, or even rent a half decent home on your own wage is pretty much zero. Gordon must be so proud. Quote Link to comment Share on other sites More sharing options...
Prof Posted August 27, 2009 Share Posted August 27, 2009 Not even a hint of this on BBC Breakfast News headlines. Usually they`d be grinning from ear to ear and reporting the "good news". Strange. Or is it ? Quote Link to comment Share on other sites More sharing options...
bajista Posted August 27, 2009 Share Posted August 27, 2009 Do the Nationwide say how big their sample size is now? My guess is that it's now too small to be statistically significant. My prediction for falls for all three months of the last quarter still stands. It is quite big, based as it is on all the properties it has been selling to itself. Quote Link to comment Share on other sites More sharing options...
Three Pint Princess 2 Posted August 27, 2009 Share Posted August 27, 2009 0.5% Base rates must be helping along with buying up mortgages from lenders through the BOE. The engines are running at full power way out of spec and eventually they have to back off and let the fall continue. Quote Link to comment Share on other sites More sharing options...
Lambie Posted August 27, 2009 Share Posted August 27, 2009 +1it does take a particular kind of callous stupidity to delight in a nation eating its young They printed my comment (first one) surprisingly - i'm sure it will be removed when a sub-editor realises it's not 'on message' Quote Link to comment Share on other sites More sharing options...
IMHAL Posted August 27, 2009 Share Posted August 27, 2009 Not even a hint of this on BBC Breakfast News headlines. Usually they`d be grinning from ear to ear and reporting the "good news".Strange. Or is it ? Quote Link to comment Share on other sites More sharing options...
singlemalt Posted August 27, 2009 Share Posted August 27, 2009 Don't get too upset about it. Remember the statistics are being manipulated to maintain public order. The economic fundamentals, for those who can be bothered to look them, show us that housing in the UK is still around 40% over-valued and this will be corrected at some point because the markets always corrects itself. Like I have said before, bears survive by being patient. +1 Quote Link to comment Share on other sites More sharing options...
jmzr Posted August 27, 2009 Share Posted August 27, 2009 if the figures are true, it must be unsustainable. its's just basic maths....people cannot continue to borrow so much when things are on the precipice of being so bad if they are sample wobble, or massaged, then when this all goes wrong, it's going to be catastrophic.....for everyone one thing i do know, is that the longer it goes on, the more scared i'm getting Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted August 27, 2009 Share Posted August 27, 2009 They printed my comment (first one) surprisingly - i'm sure it will be removed when a sub-editor realises it's not 'on message' Low interest rates have helped to make properties more affortable for first time buyers while the Government's £50 billion injection of cash into the economy through the quantitative easing programme was also fuelling the housing market's mini-boom, the building society said. so borowing more is more affordable, and QE is clearly entering the pockets of FTBs. Quote Link to comment Share on other sites More sharing options...
bear_or_bull Posted August 27, 2009 Share Posted August 27, 2009 I feel sad for young people. + 1. Higher house prices, greater mortgage debt, more student debt, higher taxes, higher cost of living. But high house prices are good news, right? I'm afraid they've been turned over. It's all over, for now. Quote Link to comment Share on other sites More sharing options...
bear_or_bull Posted August 27, 2009 Share Posted August 27, 2009 if the figures are true, it must be unsustainable. its's just basic maths....people cannot continue to borrow so much when things are on the precipice of being so badif they are sample wobble, or massaged, then when this all goes wrong, it's going to be catastrophic.....for everyone one thing i do know, is that the longer it goes on, the more scared i'm getting Agree - but they kept the party going for 8 years post the dotcom crash. It might take that long again. Not only that, but the other option is social change. We may become a nation (or a world) of rentiers. Your're supposed to think that's a good thing by the way Quote Link to comment Share on other sites More sharing options...
symo Posted August 27, 2009 Share Posted August 27, 2009 Sibley will love this. Good on him. It's only going to make the final reduction to mean more painful though. Selling the future to buy votes; well done GB. Quote Link to comment Share on other sites More sharing options...
New_Renter Posted August 27, 2009 Author Share Posted August 27, 2009 HAHAH not my pockets im sure of that. Its kind of funny we watch the HPC for 18 months or more and when things get closer to being able to afford and have your own home the Gov move the goal posts as noraml. I am now under the imprression that i will go and rent with some friends and we can all save a fortune in the process. im currently at home with parents but this is driving me mad so renting i think in April is my choice. Also give me 7-8 months to watch the market and see what happens. It is very bad news that this Gov do not care about the young (29) or FTB all they care about is winning the GE. The only thing i find Sad is the greed of the public as no matter what they want prices to rise. Quote Link to comment Share on other sites More sharing options...
singlemalt Posted August 27, 2009 Share Posted August 27, 2009 I'm begining to think that the whole thing's going to go P-O-P! and there's no way of hedging against it. It's clearly unsustainable and when it does eventually go terminal it's taking everyone with it - Bull, Bear and Humpty Dumpty's Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.