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Wolverine

House Prices 'up By 25% By 2013'

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Has anybody any views on this recent report?

are you referring to the daily diana express feature?

if so, my view is that andrex does a better job

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Has anybody any views on this recent report?

Housing developments have stopped, with no houses being built how long did everyone think it was going to take before these predictions started.

If I was selling at the moment I would take it off the market and wait and see, you might even make another 25%.

Edited by statinstoinker

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Housing developments have stopped, with no houses being built how long did everyone think it was going to take before these predictions started.

If I was selling at the moment I would take it off the market and wait and see, you might even make another 25%.

There is between 1 & 1.2 trillion dollars to be written off the global financial mess. So any suggestion that banks will "hey-ho" back to the lax lending standards is unlikely in our generation

This would suggest there is going to be massive wage inflation.

The only way you will know the mess is over is when the blood on the street has dried up, there is a sh8tstorm coming and as cgnao might say "protect yourselves"

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Has anybody any views on this recent report?

I would not believe everything you read in the papers. Or on the internet for that matter. Do your own research and make up your own mind.

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This would suggest there is going to be massive wage inflation.

Yes, if the average nurse, fireman and teacher is earning £60,000 each, then house prices will be up in 2013. That is the ONLY way it is going to happen.

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Yes, if the average nurse, fireman and teacher is earning £60,000 each, then house prices will be up in 2013. That is the ONLY way it is going to happen.

Yea, and apparently that is the mark of the inflation beast :lol:

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My view is that under no circumstances will I be asking Oxford Economics - co-authors of the report - for financial advice. Gordon Brown must have taken advice from them when he sold our gold reserves for tuppence in 1999.

Edited by RajD

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Two points.

1) This does not seem unfeasible. It would mean that prices would have returned to the level of the previous peak in the space of 6 years - a bit faster than previous cycles, but not impossible. By no means does it dictate that prices cannot drop significantly in the shorter term.

2) This is an early prediction of a return to boom. It has limited economic justification. Do not forget how long it took for early predictions of a crash to become reality. Like there were naive and blind people calling the crash, there will be similarly naive and blind people who will call the next boom.

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Two points.

1) This does not seem unfeasible. It would mean that prices would have returned to the level of the previous peak in the space of 6 years - a bit faster than previous cycles, but not impossible. By no means does it dictate that prices cannot drop significantly in the shorter term.

2) This is an early prediction of a return to boom. It has limited economic justification. Do not forget how long it took for early predictions of a crash to become reality. Like there were naive and blind people calling the crash, there will be similarly naive and blind people who will call the next boom.

Another thing to consider is, if there were huge population growth it would effect house prices in a way not related to banks situation. At the current rate of growth i calculate that in 570 years there would be one person per square metre in Northern Ireland........................ :lol:

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Looks good! Just don't miss the boat this time.

However, this isn't the pace of appreciation I feel entitled to. hopefully, NI will be in the forefront again, with 50+% increases YoY on YoY on YoY... forever!

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The report was reported by the papers, and came from the totally clueless in economics. Here it is...

House Prices to rise 25%

and here is there 2006 report saying that house prices would cost on average £290,000 by 2011...

2011 prices

These guys are clueless. Thde rhethoric about supply and demand just doesn't wash. Japan has a severe land shortage yet it didnt make one iota of difference to the end game.

Money is "macro", and houses are "micro", therefor it is the supply and demand of the macro which effects the micro element as money is the base of the broad exchange element within a society. Houses are only one commodity within many, so are a micro element. It doesn't matter that there could be supply/demand issues within the micro if the broader supply and demand of credit(macro) is restricted...However, I have been around quite alot of new build estates in recent weeks around county Antrim and I m counting scores of empty houses,and for sale signs. One just outside the Ballymoney area has lots of forsales signs, and the gardens and the weeds are growing up in many of the houses. The road ways have weeds on them, and at the back of the estate has loads of half built neglected houses.

One of these houses is on TDGTTS this week...this one...Dervock Another 30 grand was knocked off this week. I think they were knocking the door on 200,000 originally, but can't be sure...So with all these empty houses, I can't see how there are shortages....

Another anecdotal from my cousin. He was telling me that just after last summer, a man and his family had bought at the height in some new development that wasn't too far underway, and he is now the only one living in it. He is surrounded by a building site as the developer has not managed to sell any since that time...I think this is why alot of these new builds that are occupied have for sale signs up also. The people could barely be in these places a year,unless they are only renting.

The article goes on to say...

"One in thirteen households is registered as being in housing need, with four million people now living in cramped or difficult conditions.

The operative word is "households"...not homeless.

This in itself doesn't mean there is a shortage of housing. This just means they are't economically sufficient to own a better property. This is down to individuals, and their own actions or lack of them there of... I think socialism goes much too far. Sorry if that sounds harsh.

They should visit cities like Delhi, the slums in Mumbai(Bombay), Calcutta and see what cramped or need for housing really is. I m not being cynical, but I know myself from direct experience that lots of people do sponge and lie and would do anything to avoid improving their life, but expect handouts...This type of socialism and welfare is putting a great strain on the social fabric of society.

Unintelligent charity results in alot of misery. It has bred respectable beggars. A French writer says,"charity causes half the suffering she relieves but can't relieve half the suffering she has caused"...

Sorry rant over... :D

Edited by VedantaTrader

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Have any of you guys seen the news section of Property One? http://www.propertyone.co.uk/news

These guys must desperatly search the internet looking for any story that protrays the housing market in a bull light, because the stories they carry in their news section must be an accurate record of almost all the limited number of "positive" stories since the start of the year! If you just read the stories they have there you'd swear that the housing market was in great shape!

What I find most amusing though is that, as you might expect, they carry the Daily Express story about 25% rise in house prices (yes, even though this only applied to England, not NI), but look at the very end of the article they quote - they seem to have taken off the last bit in the Express article about the falling prices for the 10th month in a row!

As an aside, I see that the latest Halifax survey puts NI Average prices at circa £180,000, so even if prices did rise 25% here by 2013 they would still be £25,000 lower than they were in August 2007, and that doesnt even factor in inflation!

Edited by Jacko79

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  • 399 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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