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Wouldliketobuy

Found An Old Newspaper From 2000....

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I was clearing out some junk yesterday and found an old local newspaper from 2000. It really brought home to me how hyped up this housing market is. 3 bed terraces for £29.950 (one on the same street is now £105,000) and there was a 3 bed detached for £69,000.

No point to this really. It was just a shock seeing it in black and white.

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houses from 96 to 99 were shockingly cheap, however not all properties have gone up by as much. I have evidence of properties from ourproperty. houses bought in 2001 for 160k, that sell for 200k now! Ofcourse in 2000 they were selling for 130k! Some places go up faster than others some places were less and more undervalued in 2000....

Edited by moosetea

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I was clearing out some junk yesterday and found an old local newspaper from 2000. It really brought home to me how hyped up this housing market is. 3 bed terraces for £29.950 (one on the same street is now £105,000) and there was a 3 bed detached for £69,000.

No point to this really. It was just a shock seeing it in black and white.

Prices have spiralled rediculously but we should never be able to go back to those values - What if you had found a similar article from the 1970's?

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And back in those days if someone didn't find the perfect house they would wait until they did. A year later and another 5% or so didn't make much difference, not over 25 years anyhow.

Now everyone is falling over themselves trying to get onto the ladder because every year that passes makes it that much more difficult.... at least where I am anyhow.

In hind sight i'd have stretched myself to buy a bigger place but lenders were not so generous anyway.

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Prices have spiralled rediculously but we should never be able to go back to those values

There is no economic law that says that prices cannot return to 2000 levels. It curious how people expect an overshoot on the way up but refuse to believe that such overshoots can also occur on the way down.

Edited by dog

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I've kept hold of the old EA leaflets I collected from 1995-99, so I can look at them whenever I'm tempted to move. It's now getting REALLY stupid, which says to me that things are about to end in tears.

Our house cost £120K in 1999. It's a new build 3 bed detached with a decent garden and cul-de-sac location. I feel we paid a fair price for it. At the weekend I spotted a 1 bed mid terrace about a mile away, in a worse neighbourhood, with an asking price of £150K!!! I sold a 2 bed mid terrance in the next street for £65K, so I reckon a 1 bedder would've been no more than £45-50K back then. That's a trebling of prices in 6 years.

I don't think we've ever seen property bubble like it. If you compared prices between the 70s and 80s, you would indeed have seen prices spiralling like like, but we had double digit inflation then too!

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I've kept hold of the old EA leaflets I collected from 1995-99, so I can look at them whenever I'm tempted to move. It's now getting REALLY stupid, which says to me that things are about to end in tears.

Our house cost £120K in 1999. It's a new build 3 bed detached with a decent garden and cul-de-sac location. I feel we paid a fair price for it. At the weekend I spotted a 1 bed mid terrace about a mile away, in a worse neighbourhood, with an asking price of £150K!!! I sold a 2 bed mid terrance in the next street for £65K, so I reckon a 1 bedder would've been no more than £45-50K back then. That's a trebling of prices in 6 years.

I don't think we've ever seen property bubble like it. If you compared prices between the 70s and 80s, you would indeed have seen prices spiralling like like, but we had double digit inflation then too!

As we're in retro mood, I've found a local area guide at my parents' from November 1989 - Winkworth ad.

- 3 times joint salary & up to 4 x single salary

- 100% mortgages up to £150,000

- Remortgages to raise cash for any purpose

- Non status loans up to 80%

- Interest rates from 9.25%

Of course, the one big difference is IRs but looking on the bright side the debt mountain will not erode without wage inflation so the average joe is well and truly stuffed :D

I think we may be looking at Japanese style deflation, unless the fat controller (scumbag Gordo) and the FED give us a short inflationary shock. Whatever way you cut it, asset deflation will hurt a lot of people. :P:P

Edited by shermanator

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There is no economic law that says that prices cannot return to 2000 levels. It curious how people expect an overshoot on the way up but refuse to believe that such overshoots can also occur on the way down.

There's too much pent-up demand for this to happen at present - Common sense tells me it wont happen unless our economy were to collapse

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There's too much pent-up demand for this to happen at present - Common sense tells me it wont happen unless our economy were to collapse

Last week we heard that economic growth had been higher than expected. It turned however that this was attributed to spending in the shops and an upturn in the housing market. Meanwhile manufacturing companies are laying off 10,000 people a month (1 million since labour came to power). UK employment has risen in recent years because the Gordon has been pouring money in public funded projects (and recruited 3/4 million public servants).

The UK economy has survived on rising private debt and spiraling government spending for 10 years. What happens when the music stops. People and the government will have to curb spending sooner or later. When that comes, we will go from boom to bust. It will be worse than the labour busts of the 70s because global competition is much fiercer. Living standards in the UK are set for a very painful correction.

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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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