Discussion On Uk/aus/world House Prices

[VHB]

Hey HPCers,

Go check out and contribute over at Ben Jones's site - he has a thread today about the UK and AUS and global non-US house prices. It would be great to get some contributions from across the pond. Trans-atlantic anglosphere bubblesphere collaboration!

http://thehousingbubbleblog.com/?p=984

linky

[Guest Alright Jack]

Nice site, Yes.

I should post this:

= = =

Some in the UK speak of "Unmet demand in the capital" pushing up London property prices

What is more accurate is:

Speculative buying at the top end, including some buying by wealthy families attracted by London's status as a low tax haven for the non-domiciled, have skewed the indices, to make it look like there is a rally going on.

Reality is:

According to home.co.uk, London prices are not rising but have fallen 4.1% since June last year, while prices across the nation are down 1.9%.

Source: http://www.greenenergyinvestors.com/index.php?showtopic=565

1.9 % fall annually is not meaningfull in any way in the light of nigh on a decade of double digit gains.

My suspicion is that inflation in the broader economy will have the greater effect in redressing the issue. To be clear, the issue I refer to is the low affordability (house prices in relation to wages) of homes these days.

What is your opinion these days?