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Stupid Obvious Point

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Remember the boom was never about buying homes.

the prices were driven by speculative investment into an asset class that saw significant inflation.

It is therefor illogical to move into the market at current levels in effort to buy what you wish to be a home.

buy when prices reflect a sustainable level that would allow a market to be bought into by home owners.

for eventually speculative investors will leave the market as they leave any market..

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It wasn't just about speculation:

Some of it was about fear - they believed the spin - buy now before it's too late

Some of it was about vanity - I must appear successful so must have the house that reflects my status - whatever the price

Some of it was about stupidity/lazyness - the nice person in the EA told me prices only go up and I can't be bothered to research a multi k purchase

Some of it was government - longest period of stability, lowest mortgage rates, have a SIPP

Some of it was lender mendacity - go on borrow, you can afford it

Some of it was fraud - the market value is.....

All of it was a bubble

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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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