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exiges

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As usual, they're banging on about not enough supply of new houses, disregarding how house prices shot up in the oversupplied Irish market.

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As usual, they're banging on about not enough supply of new houses, disregarding how house prices shot up in the oversupplied Irish market.

The Irish market was oversupplied, and has since crashed. The UK market clearly hasnt crashed yet, and many of us are wondering if it can, let alone will. Supply always helps determine price.

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The Irish market was oversupplied, and has since crashed. The UK market clearly hasnt crashed yet, and many of us are wondering if it can, let alone will. Supply always helps determine price.

Yes it has !!!!

The market is down 20% in nominal terms and about 15 in real terms taking inflation into account.

That's 35% off peak prices.

The Irish haven't devalued their currency like the British.

Relative to gold UK house prices are down about 70%.

Would people stop saying there hasnt been a crash...there has.

The only thing that hasn't happened is that you've not been able to take advantage of the crash because of govwernment funded low interest rates keeping people in houses that are worth 35% less than they were 3 years ago.

Edited by TheCountOfNowhere

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The Irish market was oversupplied, and has since crashed. The UK market clearly hasnt crashed yet, and many of us are wondering if it can, let alone will. Supply always helps determine price.

Insert 'of credit' in there and you are correct.

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Insert 'of credit' in there and you are correct.

Correct....Ferarri could build 1,000,000 new cars tomorrow and charge 250K for them,...but no one would be able to buy them without....finance.

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Insert 'of credit' in there and you are correct.

I think you mean credit as in the credit to help buy the product rather than produce it. The statement is about supply, not demand.

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Yes it has !!!!

The market is down 20% in nominal terms and about 15 in real terms taking inflation into account.

That's 35% off peak prices.

The Irish haven't devalued their currency like the British.

Relative to gold UK house prices are down about 70%.

Would people stop saying there hasnt been a crash...there has.

The only thing that hasn't happened is that you've not been able to take advantage of the crash because of govwernment funded low interest rates keeping people in houses that are worth 35% less than they were 3 years ago.

I dont see a crash where I am. Sure you can find asset classes whose prices have risen relative to housing, and compare the two and lo, you appear to have a crash. But you do not really, as few people get paid in gold or euros.

The only thing that matters though are prices in proportion to post-tax wages in GBP. I dont see much improvement there. It seems that perhaps the North East might be seeing improvements, and Northern Ireland even more so, but the rest of the nation isnt seeing things get any better.

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Correct....Ferarri could build 1,000,000 new cars tomorrow and charge 250K for them,...but no one would be able to buy them without....finance.

And if no one could buy them at 250K, he either drops the price, or keeps a lot of the stock. More supply, lower prices.

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Yes it has !!!!

The market is down 20% in nominal terms and about 15 in real terms taking inflation into account.

If you live in the North.

If you live in the South, most asking prices are at or above peak

tim

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And if no one could buy them at 250K, he either drops the price, or keeps a lot of the stock. More supply, lower prices.

Unless you get lots of buy to let Ferrari dealers who can buy them with cheap never ending credit subsidised by the UK taxpayer. Different story then.

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Guest

I dont see a crash where I am. Sure you can find asset classes whose prices have risen relative to housing, and compare the two and lo, you appear to have a crash. But you do not really, as few people get paid in gold or euros.

The only thing that matters though are prices in proportion to post-tax wages in GBP. I dont see much improvement there. It seems that perhaps the North East might be seeing improvements, and Northern Ireland even more so, but the rest of the nation isnt seeing things get any better.

+1

My salary and a reasonable mortgage... gives a max house of £100k. Euros and gold are irrelevant to me.

Edited by Guest

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If you live in the South, most asking prices are at or above peak

Same here (Northants)

I also think any drops have been in for overinflated "flats" rather than real houses.

Edited by exiges

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Correct....Ferarri could build 1,000,000 new cars tomorrow and charge 250K for them,...but no one would be able to buy them without....finance.

I think you are underestimating the inequality in the UK.

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  • 312 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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