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House Price Backlash

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Is it just me, or is the nation gradually waking up to the idea that high and rising house prices could be bad news?

First BBC Radio 5 Live, now the Metro ... it seems to me a backlash against high house prices has begun.

Perhaps this is not surprising when ordinary people and even those on above average salaries cannot afford to buy a home.

Come to think of it - who is waking up first? The media or the general public?

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Is it just me, or is the nation gradually waking up to the idea that high and rising house prices could be bad news?

First BBC Radio 5 Live, now the Metro ... it seems to me a backlash against high house prices has begun.

Perhaps this is not surprising when ordinary people and even those on above average salaries cannot afford to buy a home.

Come to think of it - who is waking up first? The media or the general public?

The B o E are waking up:

http://business.guardian.co.uk/story/0,,1713410,00.html

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Is it just me, or is the nation gradually waking up to the idea that high and rising house prices could be bad news?

First BBC Radio 5 Live, now the Metro ... it seems to me a backlash against high house prices has begun.

Perhaps this is not surprising when ordinary people and even those on above average salaries cannot afford to buy a home.

Come to think of it - who is waking up first? The media or the general public?

Maybe I'm optimistic, but I think you're right about this. I thought exactly the same thing when I read the Metro this morning. The idea that a story in a mainstream paper on rising house prices would include a multiple-sentence 'counter-point' which argues that such rises are only good for a very narrow stratum of people was, I would say, unthinkable as recently as last year. I do sense a change in the mainstream press, now at least willing to regularly question the idea that 'everyone wins' with higher house prices.

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Guest Winners and Losers

i also think its just you,

it'll shock the majority when the crash comes.

It is true. No-one sees it coming. It is going to take a while for the sheer disbelief to sink in. It will be like grieving for many.

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If

Labour government = re-elected on Gordon Brown's "record"

Gordon Brown = impression the UK is wealthier

impression of wealth = HPI since 1997

HPI since 1997 = no longer seen as a good thing

Gordon Brown = no longer seen as a good thing

Labour government = out at the next election

Any backlash against HPI will mean a backlash against Labour. The electorate will demand "anything but what we've already had". Cameron seems like a nice chap. Quite good looking.

It's easy to see it happening.

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...

Labour government = out at the next election

Any backlash against HPI will mean a backlash against Labour. The electorate will demand "anything but what we've already had". Cameron seems like a nice chap. Quite good looking.

It's easy to see it happening.

I don't believe it. Homeowners seem to believe that HPI is the greatest free lunch since time began. And I don't see that changing.

What could possibly change is whose side the media is on. Possibly.

Billy Shears

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They really won't know what's hit them

Conversation with someone the other day, degree educated. Had never heard of the dotcom market crash only a few years ago. Never even heard of the phrase 'dotcom'. Completely oblivious to the goings on in the world and historical market crashes in property etc. "But property always goes up..."

The majority wont see it coming and they wont know whats hit them. They will be looking for someone to blame.

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I don't believe it. Homeowners seem to believe that HPI is the greatest free lunch since time began. And I don't see that changing.

True, a lot of the blokes I fly with are a bit older than me and have children leaving home arround now. For the last few years they have looked like dogs with two dicks because they are so rich through hpi and they get a funny glazed expression when they talk about house prices.

When you point out that their childern will be denied the life they have had, they have a moment of guilt, then get the funny glassy expression again. A bit like my dog when she has a really really thick turn. Same look when you point out they cant spend the money and their children will have retired by the time they inherit it.

Is there any evidence of humans eating their young I wonder?

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I think it is slightly starting to emerge in the press but your average Joe Public still thinks HPI is great. To demonstrate the sheer ignorance on their part, even people wishing to trade up would rather have HPI than lower prices. You try explaining it to them and they just don't get it.

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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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