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sam

Waking Up This Morning Was Just That Little Bit Nicer After 1.2% Fall

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Three years ago alarm bells were ringing as far as i was concerned, consumers were borrowing too much and house prices were rising at an unsustainable level. Over the last 2 years i have been in a postion where i have needed prices to drop before i can buy again, i have watched succesfull people who over the last 5 years have educated themselves/created a business/got that promotion during the rapid HPI, now having to bite their lip as those that never bothered who just brought a house on a McJob(in those days when it was possible) and who are now declaring themseves more savvy than us for doing so, because we cannot now afford what they have.

I have always thought that at some point this so called miracle economy would blow up in Browns face and the homeowners that think they have done so well out of it, but waiting has been tough at times, especially when the monthly indicies were showing rise after rise, time after time.

Yesterday Halifax showed a large fall of 1.2% and how did i feel, EXHAUSTED TO BE HONEST, there was no punching the air with joy. I was not looking for the Halifax data as i was now programmed to except that they would just show another rise as usual, but when i did see the data it was tottally unexpected.

I know this was just one months data, and i am now too old in the tooth to get carried away, but waking up this morning was just that little bit nicer :)

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Over the last 2 years i have been in a postion where i have needed prices to drop before i can buy again, i have watched succesfull people who over the last 5 years have educated themselves/created a business/got that promotion during the rapid HPI, now having to bite their lip as those that never bothered who just brought a house on a McJob(in those days when it was possible) and who are now declaring themseves more savvy than us for doing so, because we cannot now afford what they have.

The biggest factor influencing how much disposable income you have in your pocket at the moment is when (and if) you bought your house/flat. Almost regardless of what you earn.

That is such a demotivating thing for a young person to watch. What is the point getting paid an extra 5k per year when you need multiples of ten to make any visible difference to your living standards?

I met a mother the same age the other day who doesn't work and lives in a massive house on her husbands relatively modest wage. Her explanation was "Well while you were at university studying, I was working and got onto the housing ladder earlier than you. That is why we have a bigger house" Which is rubbish - no number of years on the ladder will ever let anyone catch up.

The thing is that people have all got an explanation of why they deserve the extra wealth - they do not put it down to luck.

Welcome to the American dream, British style...

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Yep, they were all so smart they could not see the writing on the wall for housing prices for the last 5 years !!!!...lol

Edited by mercsl

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Believe me, every dog has its day. If everything is so wonderful with the housing market we wouldn't have all these stats thrust down our throats so regularly. The gloating show is over. I'm keen to see how slow wage-inflation and unsustainable MEW plays out.

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Three years ago alarm bells were ringing as far as i was concerned, consumers were borrowing too much and house prices were rising at an unsustainable level. Over the last 2 years i have been in a postion where i have needed prices to drop before i can buy again, i have watched succesfull people who over the last 5 years have educated themselves/created a business/got that promotion during the rapid HPI, now having to bite their lip as those that never bothered who just brought a house on a McJob(in those days when it was possible) and who are now declaring themseves more savvy than us for doing so, because we cannot now afford what they have.

I have always thought that at some point this so called miracle economy would blow up in Browns face and the homeowners that think they have done so well out of it, but waiting has been tough at times, especially when the monthly indicies were showing rise after rise, time after time.

Yesterday Halifax showed a large fall of 1.2% and how did i feel, EXHAUSTED TO BE HONEST, there was no punching the air with joy. I was not looking for the Halifax data as i was now programmed to except that they would just show another rise as usual, but when i did see the data it was tottally unexpected.

I know this was just one months data, and i am now too old in the tooth to get carried away, but waking up this morning was just that little bit nicer :)

Doesn't it bother you one bit that all the FTBs up to their necks & their families that have lent/given them money to have recently bought are in some type of mire now, you'll lose a bit of support for the protest march won't you.

Again, how far will prices be allowed to drop before a fresh feeding frenzy begins by FTBs now able to purchase, which will doubtless happen & keep the market out of reach for quite a few for quite a while.

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Guest Alright Jack

You guys are so silly!

Give me one example in history where deflation was experienced under a fiat money system.

GET REAL.

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You guys are so silly!

Give me one example in history where deflation was experienced under a fiat money system.

GET REAL.

Japan 1990 - 2006

frugalista

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Guest Bart of Darkness

Japan 1990 - 2006

frugalista

That real enough for ya Jack?

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  • 337 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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