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RichM

Just What Is Going On With The Housing Market?

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I especially like the quote from Mr Bolton King:

"This is supported by the fact that levels of unemployment have been decreasing since 2003 and inflation levels have remained broadly the same."

WTF? Is he on a different planet from me?

Guns are not the answer though, we need a bird-flu outbreak!

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Martin Ellis "Healthy household income growth and high employment are supporting the market"

Real incomes fell last year for the first time since 1990, unemployment has risen for 7 straight months. This man is supposed to be a professional economist.............how can he bear to keep spouting such rubbish it's a complete transgression of his fiduciary duty.

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So many contributers and absolutely no balance. Nice. :angry:

I agree, I saw the title of the article and thought this could be interesting, no surprise, same old....Same on syndicated news services for property, very few dissenting voices, the weight of these opinions often buries the reality. I do not expect the words House Price Crash in the mainstream but a bit of balance to create a healthy debate should be out there.

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Perhaps the best collection of VI yet seen in the past year. Classic spin. Bull porn.

It is the usual old crap which isn't really useful when making a decision to commit to 25 years of mortgage debt.

The most important thing when buying a house is where the housing market is going in the future, not where it is right now.

Where it is right now, is basically an artificially created soft landing which will not last.

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I especially like the quote from Mr Bolton King:

"This is supported by the fact that levels of unemployment have been decreasing since 2003 and inflation levels have remained broadly the same."

WTF? Is he on a different planet from me?

Guns are not the answer though, we need a bird-flu outbreak!

Ha,

There was a whole bunch of bollax to be argued with in this article (although it is getting a bit boring now).

You picked out exactly the bit that me laughed the loudest... this "expert" apparently didn't hear about unemployment rising each month for quite some months now and hasn't noticed that inflation has actually risen quite sharply (both admittedly from very low levels). He really should take his fingers out of his ears once in a while.

So many experts, so many facts to ignore and so much HOPE to advance.

:D

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Guest The Dude

Hard to hold down the bile.

Just what is going on with the housing market?

Perhaps the best collection of VI yet seen in the past year. Classic spin. Bull porn.

How I hate the Times.

Everyday, in everyway, I am being pushed into going on a gun rampage...

"Catherine Riley puts the question that is vexing the property world to the professionals"

As soon as I read "professionals".....I stopped reading...

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John Wriglesworth, Hometrack

and with rising household incomes they will start to move towards more affordable levels, encouraging buyers to come back to the housing market

Rising household incomes! Your kidding arent you! :blink:

David Pretty, Barratt Group chief executive

The elusive element at the moment is buyer confidence, which will gradually return on the back of modest price rises over the next year or two, which in turn will improve affordability and encourage those buyers who are sitting on the fence to come back into the market.

Just how is something thats heavily overpriced at the moment and growing still modestly get more affordable??!?! :blink:

More classic VI spin that will look good quoted back in the near future.

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But what do you expect the VIs to say? "Get your money out now, the whole house of cards is about to fall over!"

It is interesting that most are retreading the same arguments for unending growth they were a year ago, e.g. the fundamentals are sound, employment and the general economy is healthy, etc. These statements are beginning to sound at odds with reality, not just to HPCers but also, I suspect, to the man in the street.

I thought Stansfield was fairly balanced:

Clear evidence of a significant upturn in new buyer numbers is hard to find and in any case seems at odds with the generally weak news from the wider economy. It’s still too early to call the end of the housing market slowdown.

And Springett wasn't bad either:

the real story is the amount of stock that has come on to the market — 50 per cent higher than a year ago and still rising. It’s this sector that needs a reality check on prices, and it’s likely that there will be a noticeable correction in the coming months

Also interesting was the comment by Barret CEO David Pretty

But there is still business to be done, particularly for those housebuilders who, like us, have a wide geographic spread and product range, together with a high percentage of brownfield development and social housing.

It appears they are looking to developments funding by public spending to drive growth as the private sector continues to weaken.

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Getting sick of all this crap. :angry: It really wears me down. :(

Its like a form of hypnosis. If they keep repeating their mantra long and loud enough people will fall for it.

It all makes me feel sick. :(

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Getting sick of all this crap. :angry: It really wears me down. :(

Its like a form of hypnosis. If they keep repeating their mantra long and loud enough people will fall for it.

It all makes me feel sick. :(

I feel your pain, I really do. The sh!t these people propagate is outrageous.

We need to strike back SB, you've seen "Young guns".

Bagsy I'm Emilio Estevez.

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I feel your pain, I really do. The sh!t these people propagate is outrageous.

We need to strike back SB, you've seen "Young guns".

Bagsy I'm Emilio Estevez.

And to top it all off I havent even seen "Young Guns". :(

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And to top it all off I havent even seen "Young Guns". :(

Alright, "a bridge to far", i'm gene hackman but with a better polish accent

(i'm not polish by the way)

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I feel your pain, I really do. The sh!t these people propagate is outrageous.

We need to strike back SB, you've seen "Young guns".

Bagsy I'm Emilio Estevez.

Summed up by Blackadder goes forth....

"...if all else fails a blatant pig headedness to refuse to look facts in the face will see us through....."

This I might make that my footer actually.

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I feel your pain, I really do. The sh!t these people propagate is outrageous.

We need to strike back SB, you've seen "Young guns".

Bagsy I'm Emilio Estevez.

The E/As I trust are telling me business is very brisk.

My B2L freinds are adding stock.

Rates are very low and fixing is popular.

Lots of us are mewing and buying abroad, rather than sitting about moaning how unfair life is.

B)

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To quote the article, "Bricks and Mortar has asked some of the industry’s top commentators what they are seeing on the ground and in what direction they think movement — if any — will occur. Let us know what you think."

Hmm -where to start....?...

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Getting sick of all this crap. :angry: It really wears me down. :(

Its like a form of hypnosis. If they keep repeating their mantra long and loud enough people will fall for it.

It all makes me feel sick. :(

We're not even into the fight yet :)

The big kid is pushing the little kid all around the playyard, in about 5 minutes the little kids older brothers, inflation and unemployment will turn up to walk thier little brother home. When the little kids big brothers see the big kid shoving thier lil brother about they will stomp the big kid. The big kid is no whimp and he will put up a fight but, the brothers will drop him and start laying the boot in, at that point the little kid can also kick him in the face and nuts.

Its a long time 5 minutes, very long indeed when your being pushed about but if you get up every time the big kid pushes you down, if you dont run away or kiss his a*se then in 5 minutes time you will get to see your big brothers turn the corner and come running over fists raised.

Edited by theChuz

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We're not even into the fight yet :)

The big kid is pushing the little kid all around the playyard, in about 5 minutes the little kids older brothers, inflation and unemployment will turn up to walk thier little brother home. When the little kids big brothers see the big kid shoving thier lil brother about they will stomp the big kid. The big kid is no whimp and he will put up a fight but, the brothers will drop him and start laying the boot in, at that point the little kid can also kick him in the face and nuts.

Its a long time 5 minutes, very long indeed when your being pushed about but if you get up every time the big kid pushes you down, if you dont run away or kiss his a*se then in 5 minutes time you will get to see your big brothers turn the corner and come running over fists raised.

No I believe we are in the middle of the fight. Its now about who has the more stamina. As soon as things even begin to seriously unravel it will get easier.

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Shockingly biased reporting!

Have just emailed the Times the following on email: letters@thetimes.co.uk

I have to say that I was shocked and stunned to read the Times Article on the UK property market http://property.timesonline.co.uk/article/...31900_2,00.html which purports to take a serious look at the current state of the market. Does the writer of this article perhaps have a substantial property profile? Otherwise, it does beg the question as to why the evidence base is 99.9% based on businesses and organisation's opinions who have vested interests in the property market. Shamefully poor and biased article. An insult to the intelligence of your readers.

As a previous reader of the Times I will no longer be buying your paper.

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No I believe we are in the middle of the fight. Its now about who has the more stamina. As soon as things even begin to seriously unravel it will get easier.

We've still got years to go imho and when it does finally get easier you probably wont even want to own bricks and mortar :)

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We've still got years to go imho and when it does finally get easier you probably wont even want to own bricks and mortar :)

We might have years to go but I think this is the most critical part. Because as soon as Joe Public finds out what they have been sold into and prices start to tumble at Bubbs projected cruise speed things will get easier to see.

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It's funny isn't it.

Any economist who knows anything about the cyclical nature of the property market knows full well that there is indeed a risk of a "correction" and the chance of a serious one cannot be ignored. It's not as if it has never happened before.

The title "Just What Is Going On With The Housing Market?" and some of the commentary (not all, as posters have pointed out) in this article and everywhere else smacks of "how the Hell can this be happening, for crying out loud, it's about time prices started going back up again properly, as they always do and should be expected to - what on earth is wrong with it?" as if it's the fault of, among other things, this website, skinflint buyers, students who can't manage finances, the weather, the Pope, the Summer, the Winter, and so forth. It's all such a mystery.

Any notion of an affordability issue is quickly brushed aside, after all just like property, wages always go up, don't they. It was selling OK last year, the economy isn't down the pan yet and as we all well know, you need IRs at 15%, huge unemployment and a full blown recession before the robust housing market could even start to take a knock. Those fundamentals VIs were spouting about last year together pointing to continued HPI just aren't playing ball and it's so unfair.

Wretched first time buyers, they had better get with the programme, or the middle classes will start stamping their feet especially those who charitably took the risk and bought to let to "safeguard their future" after their pensions were shafted. Can't the Government cut IRs? Can't they "do something"? After all, we don't want the "disaster" of falling prices on our hands, do we.

It's quite hilarious really.

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I actually think it's a case of the school bully beating up the cooller, smarter, and younger pupil, a Michael J Fox character c. 1985 or maybe a Cool Hand Luke, and who is getting his head flushed down the toilet repeatedly but refuses to bow to the bully's demands that he give up his terms dinner money.

He knows that he only has to hang on before his intimidating chum Negative Equity, whom he had given a packet of Jaffa cakes only earlier that morning, turns up to save the day.

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  • 338 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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