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How On Earth Can This Be Happening?

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Getting angry now!

HOW on this planet can house prices still be rising?

FTB at the lowest for 25 years blah blah blah & yet they are still going up? Its utter bo**ocks on every level!

This country SUCKS in every way!

:angry:

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It still annoys me that people in general think house price inflation is a good thing. Why? When your next leap will have grown even further. Your debt is still the same, but the next house is now more expensive!

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Getting angry now!

HOW on this planet can house prices still be rising?

FTB at the lowest for 25 years blah blah blah & yet they are still going up? Its utter bo**ocks on every level!

This country SUCKS in every way!

:angry:

Yep, I'd be very angry if I wanted to buy a house right now.

I'm off abroad for a couple of years though, so hopefully something will have changed when I return, if not i'll be looking elsewhere.

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Some house prices are going up in some areas.

Some house prices in some areas are falling.

Perhaps you need to earn more in the area you wish to buy, or move to another area. Or resign yourself to long term renting.

It's not a level playing field. You are competing against a sentiment driven public who believe house prices always rise. And a planning process that reinforces the lack of the right sort of housing.

Harsh, but reality.

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Getting angry now!

HOW on this planet can house prices still be rising?

FTB at the lowest for 25 years blah blah blah & yet they are still going up? Its utter bo**ocks on every level!

This country SUCKS in every way!

:angry:

One word - spin! Don't believe it! Even Kirsty said yesterday on Richard and Judy: Don't believe everything you read in the papers!

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Steve is right, get to grips with what is happening on your very own doorstep. Watch it like a hawk.

Also don't believe everything you read!

I'm turning schizophrenic and having arguments with myself. This situation plays on my mind, its not good.

I firmly 100% believe that 5 years from now it will be possible to pick up a dream home for 3.5 times salary compared to what I'd get now for much more.

But can I come to terms with renting for that amount of time? Can I buggery. I turned 33 on Sat and I just want to put down some roots. I'd like to get a dog....I'd like to get a bit arty with the old interior dec, I'd like some privacy sometimes.....etc etc......

I just want a bloody house that's all.

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Some house prices are going up in some areas.

Some house prices in some areas are falling.

Perhaps you need to earn more in the area you wish to buy, or move to another area. Or resign yourself to long term renting.

It's not a level playing field. You are competing against a sentiment driven public who believe house prices always rise. And a planning process that reinforces the lack of the right sort of housing.

Harsh, but reality.

I live in brighton at the moment where me & boyfriend earn about 55k jointly & yet that wont even buy us a shed- we are just normal "average" people - if we cant buy earning what I think is a reasonably OK wage, then who the hell can?

Its just all out of control- I dont want to rent anymore - I want to have children & settle down. I like living here & I dont nescessarily want to move but it looks like, along with a lot of other poeple, I will be forced to do that just to have a normal, average life- I am sick of it. I dont think that buying is a right but an entire generation of people are being forced to rent & are stuck in a certain point in their lives.

The long term implications of all of this are serious for the country at large in my opinion.

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It still annoys me that people in general think house price inflation is a good thing. Why? When your next leap will have grown even further. Your debt is still the same, but the next house is now more expensive!

But house inflation is a good thing for many. I include myself in this and make no apologies for it. It's just luck, right place at the right time. Winners and losers just like life I suppose.

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Some house prices are going up in some areas.

Some house prices in some areas are falling.

This is definitely true. I am still waiting for the geog break-down of the Hometrack release (when they choose to put it on the website - finally... ) because I am certain that there is strength in London and weakness/stagnation in much of the country outside London.

That is what the Rightmove survey showed. Why would asking prices be down in most regions outside London if the market was still strong?

Averages can be very misleading. If I lived outside London, I would not be worrying about rising house prices.

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I dont think that buying is a right but an entire generation of people are being forced to rent & are stuck in a certain point in their lives.

The long term implications of all of this are serious for the country at large in my opinion.

Quite. Social implications of prolonged HPI are huge. Consider the amount of people putting off marriage/children because they can't afford to buy and there is no social housing.

These future citizens are the intended taxpayers who will fund the NHS/Pensions of the boomers.

What happens if they never get born in the first place? Meanwhile, those who do come into the world are saddled with debt to pay for their education.

Doesn't look too rosy, does it?

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I live in brighton at the moment where me & boyfriend earn about 55k jointly & yet that wont even buy us a shed- we are just normal "average" people - if we cant buy earning what I think is a reasonably OK wage, then who the hell can?

Its just all out of control- I dont want to rent anymore - I want to have children & settle down. I like living here & I dont nescessarily want to move but it looks like, along with a lot of other poeple, I will be forced to do that just to have a normal, average life- I am sick of it. I dont think that buying is a right but an entire generation of people are being forced to rent & are stuck in a certain point in their lives.

The long term implications of all of this are serious for the country at large in my opinion.

I agree the long term social implications are the biggest evil of this HPI.

I thought Brighton house prices were falling though? I've seen lots of posts on here to that effect.

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Quite. Social implications of prolonged HPI are huge. Consider the amount of people putting off marriage/children because they can't afford to buy and there is no social housing.

These future citizens are the intended taxpayers who will fund the NHS/Pensions of the boomers.

What happens if they never get born in the first place? Meanwhile, those who do come into the world are saddled with debt to pay for their education.

Doesn't look too rosy, does it?

Isn't this kind of argument fallacious though ? Looking for reasons for things that don't actually exist unless you fit them to your argument. Kids will always be born and there are no reasons to put them off because of pure financial reasons, there would always be some reason not to if you looked too deep.

Society is always changing, where are the cotton mills, where are the peasant workers on the land, the thatchers, the coopers, the millers. If we had adopted a negative attitude to progress we would still be a peasant rural backwater economy. Think positive.

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Isn't this kind of argument fallacious though ? Looking for reasons for things that don't actually exist unless you fit them to your argument. Kids will always be born and there are no reasons to put them off because of pure financial reasons, there would always be some reason not to if you looked too deep.

Society is always changing, where are the cotton mills, where are the peasant workers on the land, the thatchers, the coopers, the millers. If we had adopted a negative attitude to progress we would still be a peasant rural backwater economy. Think positive.

The point is that the Industrial Revolution and the movement from a predominantly rural society to an urban one caused the population to grow massively.

Thus the infrastructure of the country was built.

However, population numbers are now in decline in this country and across Western Europe. This therefore means that taxation revenue will decline. Its not rocket science.

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But house inflation is a good thing for many. I include myself in this and make no apologies for it. It's just luck, right place at the right time. Winners and losers just like life I suppose.

That is a very unhealthy attitude if I may say so. You could say that being jewish in germany in the 30s or being black in south africa up until the 80s was just 'winners and losers' - the wrong place at the wrong time? Hard luck.

Of cause, I'm not comparing current FTBer's plight with these global injustices, just your attitude towards them.

Unless we fight against injustice for others, we have no right to expect justice for ourselves.

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Do we think so much media money is now wrapped up in house sales that they'll be able to ramp it for a while yet?

Pretty depressing ... I've seen a couple of houses go SSTC on local websites - yet the one house that's been for sale for 2 years is still for sale.

Other local anomolies include a house that was for sale for well over a year developed a to let sign and now is a let by - not seen anyone living there yet though...

Overpriced house come off the market so I assume they've had no viewings or sensible offers.

Small terraced street near above house - constantly selling on there - but no parking and tiny 2 bed terraces going for 80-90k

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However, population numbers are now in decline in this country and across Western Europe. This therefore means that taxation revenue will decline. Its not rocket science.

Instead of decline, think reaching a new equilibrium. Less people, yes indeed, means less tax, but less people need less tax so its an equilibrium.

I for one would relish a reduction in the population. 60 million on a small island is way too many.

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How On Earth Can This Be Happening?

You may well ask... its important to remember that the current siutation is akin to a small child gorging themselves on sweets and chocolates and all the nice things they can get their hands on!

Only one of two things will bring this to an end:

1) Parents saying no! (equivilent to BoE and Government taking action)

2) The child gets sick! (equivilent to not being able to afford/borrow any more)

Either way I think our credit feast is nearly over.....

- Pye (property speculation ninja :ph34r: )

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Steve is right, get to grips with what is happening on your very own doorstep. Watch it like a hawk.

Also don't believe everything you read!

I'm turning schizophrenic and having arguments with myself. This situation plays on my mind, its not good.

I firmly 100% believe that 5 years from now it will be possible to pick up a dream home for 3.5 times salary compared to what I'd get now for much more.

But can I come to terms with renting for that amount of time? Can I buggery. I turned 33 on Sat and I just want to put down some roots. I'd like to get a dog....I'd like to get a bit arty with the old interior dec, I'd like some privacy sometimes.....etc etc......

I just want a bloody house that's all.

I second that.

Unfortunately I believe the government are happy to sit back and watch it happen. When they got into power in 1997 I'm sure they said one of their aims was to close the North/South gap. Well it's happening by a process of forced migration. Those FTB's that can't buy in the south have little choice but to head North, along with many businesses that are struggling with "Profit Margins", the BBC for example relocating eventually to Manchester area.

I don't believe that Tony & Co have engineered this whole immoral sitiuation, but it's played into their hands nicely.

And it's all of no help to those in the North seeing their house prices rocket out of reach of the average buyer.

I'm fast coming to the conclusion that we won't see a real correction in house prices in the South (50% drop), as much as I'd like to believe all the evidence mounting for it.

We now have a huge number of young people who are disillusioned by the whole thing, whose lives are on hold and probably permanently scarred by the whole sorry state of affairs.

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That is a very unhealthy attitude if I may say so. You could say that being jewish in germany in the 30s or being black in south africa up until the 80s was just 'winners and losers' - the wrong place at the wrong time? Hard luck.

Of cause, I'm not comparing current FTBer's plight with these global injustices, just your attitude towards them.

Unless we fight against injustice for others, we have no right to expect justice for ourselves.

You are entitled to your opinion as am I.

I find your analogies somewhat incredulous and over dramatic. What is this injustice you are speaking of ? I make no bones about my position, it was more luck than judgement, yet I find myself in a lucky position vis a vis my home and the equity. What should I do ? Wear sack cloth and ashes and give my home at a knock down price to some unfortunate homeless person ?

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You are entitled to your opinion as am I.

I find your analogies somewhat incredulous and over dramatic. What is this injustice you are speaking of ? I make no bones about my position, it was more luck than judgement, yet I find myself in a lucky position vis a vis my home and the equity. What should I do ? Wear sack cloth and ashes and give my home at a knock down price to some unfortunate homeless person ?

Is your benefit simply that you have perceived wealth in your home?

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You are entitled to your opinion as am I.

I find your analogies somewhat incredulous and over dramatic. What is this injustice you are speaking of ? I make no bones about my position, it was more luck than judgement, yet I find myself in a lucky position vis a vis my home and the equity. What should I do ? Wear sack cloth and ashes and give my home at a knock down price to some unfortunate homeless person ?

The injustice I speak of is 93% of people priced out of buying their first home, whilst tax breaks are given to buy-to-letters, social housing is non-existant and tenancies are effectively restricted to a year.

There is nothing you can do about this personally, I'm not suggesting you give you home to charity, but unless we (as a society) shake off this 'I'm alright jack' attitude then we can only expect more of the same. You say you have been lucky. We're all going to need some luck if we economically exclude a generation and expect them to suffer it.

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Is your benefit simply that you have perceived wealth in your home?

Not entirely.

I have one home in London and one somewhere else. I intend to return to London this year, sell up and move to another much nicer location within the UK. I have had my mortgage paid for by my tenants in London. I have therefore enjoyed two healthy doses of house inflation. As I have said it was no master plan, it just happened, I did not make up the rules.

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Possible explanation is that FTB-type property is not selling but larger family houses are. Thus the "average" is made up of fewer, larger than "average" properties. Hence the average increases over time, but is not the true average when you look at the entire housing stock in the UK, rather than just what's being sold at any point in time.

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  • 302 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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