Realistbear Posted June 13, 2006 Share Posted June 13, 2006 (edited) http://www.thisisbath.co.uk/displayNode.js...&folderPk=89096 HOUSE PRICES COULD CRIPPLE BUSINESS Be the first reader to comment on this story 11:15 - 13 June 2006 Rising house prices could end up paralysing business unless something is done, says a new group. The South West Housing Initiative says the continuing climb of house prices across the Bath and Wiltshire region is hampering recruitment and affecting pay claims. The group brings together home-builders, housing associations, housing professionals and private business. And the new body has come to the conclusion that unless something is done to combat the region's 'housing crisis' the money-making businesses that fuel its economy could face a bitter battle for survival . "The south west has the biggest affordability gap between average earnings and average house-prices, at a time when home-building is not keeping pace with demand," said Michael Clarke, the chairman of the South West Housing Initiative. A few more wake up and smell the coffee. Of course HPI has been crippling business. That is why our manufacturing base is dissappearing abroad where its cheaper to make things. IT is being offshored because houses are cheaper in Asia! Duh. HPI sucks the lifeblood out of the economy into houses that are meant to be a place to live not a vehicle for speculation or crippling debt. As people struggle to pay for over-priced houses with 70% or more of their disposable income guess how much is left over to keep the local economy going? Not much. Tick tock, tick tock.................. Edited June 13, 2006 by Realistbear Quote Link to comment Share on other sites More sharing options...
SCUMBAG Posted June 13, 2006 Share Posted June 13, 2006 http://www.thisisbath.co.uk/displayNode.js...&folderPk=89096 HOUSE PRICES COULD CRIPPLE BUSINESS Be the first reader to comment on this story 11:15 - 13 June 2006 Rising house prices could end up paralysing business unless something is done, says a new group. The South West Housing Initiative says the continuing climb of house prices across the Bath and Wiltshire region is hampering recruitment and affecting pay claims. The group brings together home-builders, housing associations, housing professionals and private business. And the new body has come to the conclusion that unless something is done to combat the region's 'housing crisis' the money-making businesses that fuel its economy could face a bitter battle for survival . "The south west has the biggest affordability gap between average earnings and average house-prices, at a time when home-building is not keeping pace with demand," said Michael Clarke, the chairman of the South West Housing Initiative. A few more wake up and smell the coffee. Of course HPI has been crippling business. That is why our manufacturing base is dissappearing abroad where its cheaper to make things. IT is being offshored because houses are cheaper in Asia! Duh. HPI sucks the lifeblood out of the economy into houses that are meant to be a place to live not a vehicle for speculation or crippling debt. As people struggle to pay for over-priced houses with 70% or more of their disposable income guess how much is left over to keep the local economy going? Not much. Tick tock, tick tock.................. Global liquidity has been used to inflate asset bubbles rather than stimulate new business that helps the economy grow. Quote Link to comment Share on other sites More sharing options...
undersupply Posted June 13, 2006 Share Posted June 13, 2006 Just got a comment in on this, you don't need a real e-mail address folks I am Mr E Agend. Quote Link to comment Share on other sites More sharing options...
MarkG Posted June 13, 2006 Share Posted June 13, 2006 Indeed. Why weren't these papers warning about these things five years ago? Ah, because rising house prices were good back then. Quote Link to comment Share on other sites More sharing options...
undersupply Posted June 13, 2006 Share Posted June 13, 2006 Who is Trevor Piemuncher then? Quote Link to comment Share on other sites More sharing options...
Cheston Pelvis Posted June 13, 2006 Share Posted June 13, 2006 In a similar vein, this is from the front page of yesterday's EDP, Norwich's local rag. It's a shame they didn't run this story on Friday to accompany their whacking great 100-page property supplement... Rich blamed for rural housing crisis Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted June 13, 2006 Share Posted June 13, 2006 http://www.thisisbath.co.uk/displayNode.js...&folderPk=89096 HOUSE PRICES COULD CRIPPLE BUSINESS Be the first reader to comment on this story 11:15 - 13 June 2006 Rising house prices could end up paralysing business unless something is done, says a new group. The South West Housing Initiative says the continuing climb of house prices across the Bath and Wiltshire region is hampering recruitment and affecting pay claims. The group brings together home-builders, housing associations, housing professionals and private business. And the new body has come to the conclusion that unless something is done to combat the region's 'housing crisis' the money-making businesses that fuel its economy could face a bitter battle for survival . "The south west has the biggest affordability gap between average earnings and average house-prices, at a time when home-building is not keeping pace with demand," said Michael Clarke, the chairman of the South West Housing Initiative. A few more wake up and smell the coffee. Of course HPI has been crippling business. That is why our manufacturing base is dissappearing abroad where its cheaper to make things. IT is being offshored because houses are cheaper in Asia! Duh. HPI sucks the lifeblood out of the economy into houses that are meant to be a place to live not a vehicle for speculation or crippling debt. As people struggle to pay for over-priced houses with 70% or more of their disposable income guess how much is left over to keep the local economy going? Not much. Tick tock, tick tock.................. I thought you'd said that house prices were falling? Quote Link to comment Share on other sites More sharing options...
BoredTrainBuilder Posted June 13, 2006 Share Posted June 13, 2006 (edited) As with many posters on this website you seem confused about the meaning of the word 'bear' (someone taking a view that a particular asset will decline in value in the future). In this case the author of the article is expressing concern at the effects of HPI, which he or she presumes will continue, and is therefore a 'bull' in the parlance. Perhaps there needs to be new term for someone wanting house prices to fall as opposed to believing that they will. Edited June 13, 2006 by BoredTrainBuilder Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted June 13, 2006 Share Posted June 13, 2006 As with many posters on this website you seem confused about the meaning of the word 'bear' (someone taking a view that a particular asset will decline in value in the future). In this case the author of the article is expressing concern at the effects of HPI, which he or she presumes will continue, and is therefore a 'bull' in the parlance. Perhaps there needs to be new term for someone wanting house prices to fall as opposed to believing that they will. I'd support that. I want a hpc, so I consider myself a Bear. However, because I don't think it will happen now, and sometimes challenge the more ridiculous bear assertions, many accuse me of being a bull. I don't really care, but it would be helpful to clear up the definition! Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 13, 2006 Author Share Posted June 13, 2006 I thought you'd said that house prices were falling? Not in Bath, according to the ODPM they are still soaring: Bath And North East Somerset Average Cost: £249,488 Detached: £364,655 Semi-detached: £219,784 Terraced: £226,782 Flat: £202,185 Change in last quarter: 1.1% Change in last year: 3.6% Detached didn't do quite so well: Bath And North East Somerset £364,655 -11.8% But Flats broke all records: Bath And North East Somerset £202,185 14.3% Semis did a little worse/better depending on whether you are a bull or bear: Bath And North East Somerset £219,784 -4.8% Finally, Terraced were strong: Bath And North East Somerset £226,782 4.7% Overall 1.1% up for the Q not quite as good as a bank savings account but better than nothing. Figures supplied by: http://news.bbc.co.uk/1/shared/spl/hi/in_d...l/region8.stm?d Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted June 13, 2006 Share Posted June 13, 2006 Not in Bath, according to the ODPM they are still soaring: Bath And North East Somerset Average Cost: £249,488 Detached: £364,655 Semi-detached: £219,784 Terraced: £226,782 Flat: £202,185 Change in last quarter: 1.1% Change in last year: 3.6% Detached didn't do quite so well: Bath And North East Somerset £364,655 -11.8% But Flats broke all records: Bath And North East Somerset £202,185 14.3% Semis did a little worse/better depending on whether you are a bull or bear: Bath And North East Somerset £219,784 -4.8% Finally, Terraced were strong: Bath And North East Somerset £226,782 4.7% Overall 1.1% up for the Q not quite as good as a bank savings account but better than nothing. Figures supplied by: http://news.bbc.co.uk/1/shared/spl/hi/in_d...l/region8.stm?d 1.1% per quarter is soaring? What term would you use to describe, say, 3%/quarter? Quote Link to comment Share on other sites More sharing options...
Xurbia Posted June 13, 2006 Share Posted June 13, 2006 I think it's rather selfish that those employed in the Bath area don't retrain into higher paid jobs. It is widely known that GPs and the other more highbrow professions attract substantial renumeration. This in turn would sustain the exorbitant prices we have become accustomed to. e.g. based on £100K a year it is easy to qualify for a mortgage of £364,655. Perhaps those living in the region are just indolent or worse? Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted June 13, 2006 Share Posted June 13, 2006 I think it's rather selfish that those employed in the Bath area don't retrain into higher paid jobs. It is widely known that GPs and the other more highbrow professions attract substantial renumeration. This in turn would sustain the exorbitant prices we have become accustomed to. e.g. based on £100K a year it is easy to qualify for a mortgage of £364,655. Perhaps those living in the region are just indolent or worse? No, that would just push prices up higher. More money available = higher prices. Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 13, 2006 Author Share Posted June 13, 2006 1.1% per quarter is soaring? What term would you use to describe, say, 3%/quarter? My choice of words was, of course, tongue in cheek. EAspeak if you like. In reality I would describe the present Bath market as DIW (dead in the water) awaiting a Tidal wave. Quote Link to comment Share on other sites More sharing options...
Xurbia Posted June 13, 2006 Share Posted June 13, 2006 No, that would just push prices up higher. More money available = higher prices. Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted June 13, 2006 Share Posted June 13, 2006 My choice of words was, of course, tongue in cheek. EAspeak if you like. In reality I would describe the present Bath market as DIW (dead in the water) awaiting a Tidal wave. So I go back to my original point. If it's dead, what's the problem? Quote Link to comment Share on other sites More sharing options...
cynic Posted June 13, 2006 Share Posted June 13, 2006 So I go back to my original point. If it's dead, what's the problem? Because prices need to fall significantly for the general good? Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted June 13, 2006 Share Posted June 13, 2006 Because prices need to fall significantly for the general good? Well, according to all of RealistBear's posts it's well on course for a huge crash. Everything's going nicely, he posts evidence of this several times a day. Quote Link to comment Share on other sites More sharing options...
Xurbia Posted June 13, 2006 Share Posted June 13, 2006 Well, according to all of RealistBear's posts it's well on course for a huge crash. Everything's going nicely, he posts evidence of this several times a day. At least that's settled then. Quote Link to comment Share on other sites More sharing options...
BoredTrainBuilder Posted June 13, 2006 Share Posted June 13, 2006 Well, according to all of RealistBear's posts it's well on course for a huge crash. Everything's going nicely, he posts evidence of this several times a day. It's called faith - the more avid, the better. If praying doesn't work, just pray harder. Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted June 14, 2006 Share Posted June 14, 2006 i believe you just caught a trout... hahah ... Quote Link to comment Share on other sites More sharing options...
sam Posted June 14, 2006 Share Posted June 14, 2006 As with many posters on this website you seem confused about the meaning of the word 'bear' (someone taking a view that a particular asset will decline in value in the future). In this case the author of the article is expressing concern at the effects of HPI, which he or she presumes will continue, and is therefore a 'bull' in the parlance. Perhaps there needs to be new term for someone wanting house prices to fall as opposed to believing that they will. Exactly, nothing would please me more than a whopping big fall of 40%, but it just is not going to happen(or unlikely to happen), and the falls that we do get will take years. Ok, start the "Sam's a troll posts" Quote Link to comment Share on other sites More sharing options...
Guest grumpy-old-man Posted June 14, 2006 Share Posted June 14, 2006 I'd support that. I want a hpc, so I consider myself a Bear. However, because I don't think it will happen now, and sometimes challenge the more ridiculous bear assertions, many accuse me of being a bull. I don't really care, but it would be helpful to clear up the definition! Hi CO, when you say a hpc won't happen now, why not & do you thing there will be one or not at all? thanks Quote Link to comment Share on other sites More sharing options...
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