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House Price Crash Forum

We Know Houses Are Overpiced!

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Never really discussed house prices with people at work before, but was having a grumble to myself at work about an advert that said "why rent when you can buy for x per month, pay 70% own 100/%"

"what a load of ******** that is, you own nothing, but pay 100% it's just that the 30% is deferred, and the monthly repayment figure is based on the lowest interest rates"

I have to admit I was surprised with the response I got -

houses are 30% overpriced'

I wouldn't buy if I was young'

I remember when one wage would have got a house'

Having a house should be a basic human right, and not a means to make profit'

All in my opinion is well informed and rational, maybe I got lucky, probably has a lot to do with the fact they have children late teens early twenties, and can see how ridiculous the situation is?

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Look at Hong Kong. House prices went up decades ago and stayed up ever since. They got to the point where people couldn't afford houses, so they just started getting smaller and more shared. House prices can carry on going up while people are prepared to sub-divide or share.

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