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benjamin

Housing Market Is Saturated

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ooo what a bargain, 4.54% below asking price for negotiating. I'll have 10 of yer cheap clone box flats please mr seller, at a knock down price of £1Million each, it's a steal!

:angry:

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housing has been over hyped over inflated over run. Just to expensive, its not rocket science.

It is not just housing that has gone up 100% Council Tax has too.

In fact most of our home produced goods and services have been the subject of high inflation.

Therefore wages need to go up in the private sector.

Its no good giving record payrises to the public sector if the private sector is being left behind, HPI is a direct consequence of holding down wages whilst presiding over massive inflation in just about everything.

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holding down wages whilst presiding over massive inflation in just about everything.

Indeed. Real inflation has been out-running wages for years, it's just been hidden due to reduced cost of DVD players from China and borrowing that's allowed people to continue spending even while disposable incomes are going down in real terms.

Now we can no longer afford to borrow more and Chinese currencies and wages are increasing...

Edited by MarkG

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It is not just housing that has gone up 100% Council Tax has too.

In fact most of our home produced goods and services have been the subject of high inflation.

Therefore wages need to go up in the private sector.

Its no good giving record payrises to the public sector if the private sector is being left behind, HPI is a direct consequence of holding down wages whilst presiding over massive inflation in just about everything.

Now I'm no economist Laurejon, but in saying 'HPI is a consequence of holding down wages' are you seriously suggesting that putting up wages [in the private sector?] will halt House Price Inflation? I must tell the Minister of this new theory for controlling inflation: pay folk more....

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The cost of public services have gone up 200% and the resource is principally Labour costs.

Look around and you will see many other products that have gone up a similar percentage as houses.

Councils needed to raise the take over 100% to make ends meet, so its not suprising that house prices along with Oil, and many other products have gone up.

I'm afraid the so called Chancellors shopping basket is not a common one, the public dont eat Caviar and they dont drive Mercedes SLK's thats the preserve of the Public Service workers. The public eat Rich T and drive the second hand vehicles the Civil Service and the Councils trade in as ex Company smokes.

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The cost of public services have gone up 200% and the resource is principally Labour costs.

Look around and you will see many other products that have gone up a similar percentage as houses.

Councils needed to raise the take over 100% to make ends meet, so its not suprising that house prices along with Oil, and many other products have gone up.

I'm afraid the so called Chancellors shopping basket is not a common one, the public dont eat Caviar and they dont drive Mercedes SLK's thats the preserve of the Public Service workers. The public eat Rich T and drive the second hand vehicles the Civil Service and the Councils trade in as ex Company smokes.

Right. Glad we got that one cleared up.

Know many public sector workers with SLKs do you?

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they probably dont drive slk's . but they are getting too much and we cant afford to pay them all.

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Right.  Glad we got that one cleared up. 

Know many public sector workers with SLKs do you?

I work for the council at the moment, the car park is full of flash cars

5xJag's

1xLotus

4xMg's

12+ BMW 4x4

lots of 2003-2005 reg Clio, Focus, etc

and

1 old Metro &

my diesel Fiesta

Edited by Kam

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I work for the council at the moment, the car park is full of flash cars

5xJag's

1xLotus

4xMg's

12+ BMW 4x4

lots of 2003-2005 reg Clio, Focus, etc

and

1 old Metro &

my diesel Fiesta

Sounds like your council have a lot of the boys and girls 'on the take'

its just like the eighties all over again

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I work for the council at the moment, the car park is full of flash cars

5xJag's

1xLotus

4xMg's

12+ BMW 4x4

lots of 2003-2005 reg Clio, Focus, etc

and

1 old Metro &

my diesel Fiesta

you should ask for a pay rise. or did your colleagues just MEW to get their motors?

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you should ask for a pay rise. or did your colleagues just MEW to get their motors?

I have sat and watched the car park empty while waiting for lift home,

Most are 40-50 years olds, so I'd guess MEW and high paid non-jobs (theres been a few lately in the internal job sheet)

I do see people my age (28) but they all seem to walk/cycle out.

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House prices remained almost static last month having gradually reduced since last August, say the National Association of Estate Agents (NAEA). The NAEA recorded an average of 78 properties being offered per agent over the second quarter of the year compared with 55 in the same quarter of 2004 - a whopping increase of 29.4%

55 properties for sale last year ........an extra 23 this year???? I was never any good at maths but i'm sure that's more than a 29% increase.

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The cost of public services have gone up 200% and the resource is principally Labour costs.

And the cost of private services (accountancy, legal, plumbing, almost any "trade" or "profession") has gone up the same amount (or more). What does that tell you? That the UK is pricing itself out of its own market. Result: recession. Don't keep blaming the public sector exclusively.

Any one who recently visited a lawyer, surveyor, accountant or plumber will know only too well. Keep your arguments balanced Laurejohn, or no-one will listen!

VP

Edited by VacantPossession

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House prices remained almost static last month having gradually reduced since last August, say the National Association of Estate Agents (NAEA). The NAEA recorded an average of 78 properties being offered per agent over the second quarter of the year compared with 55 in the same quarter of 2004 - a whopping increase of 29.4%

55 properties for sale last year ........an extra 23 this year???? I was never any good at maths but i'm sure that's more than a 29% increase.

Yes, that is missleading, the actual increase was 41.8%.

What they have worked out was 23 as a percentage of 78 (the new figure).

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Guest Riser
Now I'm no economist Laurejon, but in saying 'HPI is a consequence of holding down wages' are you seriously suggesting that putting up wages [in the private sector?] will halt House Price Inflation?  I must tell the Minister of this new theory for controlling inflation: pay folk more....

I think Laurejon means that fiddling inflation figures to keep them low has enabled the government to keep artificially low interest rates which have fueled HPI, and keep the lid on inflation by using the low iflation figures to justify low wage increases.

This has worked in the short term but now the debt caused by the growig difference between wages and real inflation has resulted in a consumer spending crunch. The party is over, its time to pay, even a .25% interest rate cut is unlikely to make up for the increased cost of servicing peples debt that has piled up since last year!

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I think Laurejon means that fiddling inflation figures to keep them low has enabled the government to keep artificially low interest rates which have fueled HPI, and keep the lid on inflation by using the low iflation figures to justify low wage increases.

This has worked in the short term but now the debt caused by the growig difference between wages and real inflation has resulted in a consumer spending crunch. The party is over, its time to pay, even a .25% interest rate cut is unlikely to make up for the increased cost of servicing peples debt that has piled up since last year!

OK. This I can understand and, to an extent, agree with. Laurejon, I did you a dis-service: your point wasn't clearly made.

But I still don't drive an SLK (7 year old Honda fyi).

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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