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apom

Look Bulls.. You Are Missing The Point.

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Thats all it is..

People got very excited about Housing.. of course they did..

They trebbled in a few years..

Thats going to get investors attention..

but as has always happend they are now falling.. Yawn..

Its so obvious.. the herd looses sight of what is right in front of them..

there are enough houses.. they havent increased in value..

(actually they decreased when inflation became strictly controlled...)

they are the same property now as they were 8 years ago.. But in a weaker economy and there are more of them..

there is no reason that houses became more expensive beyound the fact that it was easy to make money on them.

Not money from the houses you understand, but more money from people prepared to pay more..

what is amazing is how obvious this is..

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the amazing thing is no one will voice this by protest.

and nor have they ever..........the price of houses has never been a political issue even though to me it's so important (and always was) there should be a ministry of housing..............you have to remember in most families high house prices although of course skewing wealth distribution in favour of older people have a neutral economic effect.........eg my old chestnut of the 48yo bus driver friend of mine living in the £300,000 house fully paid off but whose 3 children can't afford to leave home.......

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the amazing thing is no one will voice this by protest.

I'm afraid that is not amazing. Protests which were by groups who had significant portions of the population behind them achieved nothing in recent years (fuel protests, stop the war etc.) I'm sorry to have to point out that for a majority of people, rising and high house prices is good news. I know that for a lot of them it is in fact bad news, and that a lot of them are being idiots thinking it is good, and that a small minority of people without a property of their own are being financially punished by this idiocy. But that's just the way it is. In my opinion, protests will only ever achieve anything when they are by a majority against a minority who are exploiting them. At the moment, that's just not the way people see it.

The only hope is to go on trying to educate people, and trying to swing people's opinion round. That is a terribly difficult problem, because

1) most people can't do the simple maths to see why their beliefs about HPI are mistaken

2) a lot of people are happy to live on credit, including money borrowed against their house

3) a lot of people are scared of "missing the boat", and are going to follow the herd so keeping things going.

But education is the only hope. Most likely however, is that no attempt to change things by argument and reason will work, and the change will occur, if it does, because the economic outcomes change, such that people buying high priced houses actually start to suffer financially, and it becomes "folk knowledge" that prices are too high.

Edited by Levy process

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"£300,000 house fully paid off but whose 3 children can't afford to leave home......."

Nonsense.

They can rent, even if it means sharing.

Most of us did that for some years

Why pay 400 quid a month for a room in a shared flea pit when you can live at home, get home cooked meals each night, and contribute "at cost" to the household bills? Lots more money to buy cars / bikes, go out, get lashed up, pick up chicks and generally enjoy yourself.

Most of us rented when it wasn't so obscenely expensive to do so.

I still do. My landlord hasn't put the rent up in 6 years.

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  • 301 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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