Saturday, April 7, 2007

Against all the odds House Prices March on!!!

UK factory output falls sharply

The last paragraph is telling ..... "In stark contrast, Britain’s housing market continued to flourish despite three interest rate rises since August. House prices rose 1.0 per cent in March, taking the annual three-month rate to a two-year high of 11.1 per cent, the Halifax house price survey showed."

Posted by auntie @ 03:33 PM (553 views)
Please complete the required fields.



9 thoughts on “Against all the odds House Prices March on!!!

  • This is not a problem! We don’t need to produce things to sell to the rest of the world to make money. We can sustain our economy by building houses which we can sell to each other or rent out. And we can sell ‘services’ to the rest of the world!

    Reply
    Please complete the required fields.



  • “But statisticians said the food, drink and tobacco sectors however faced a more worrying outlook as more and more companies chose to locate abroad.”

    More companies choosing to locate abroad, who can blame them? Is it viable to produce almost anything in the UK anymore when the wages demanded by high house prices don’t allow it. Compare wages here with an Eastern Block country. An employer for example in the Russia or Ukraine can get 5 or more employees for the cost of a UK worker. Go to China and the factor is even greater. The employer is also not burdened down with loads of stupid expensive ‘social legislation’ either. What happens when Sterling collapses? Have any of the economists factored this into their models? The ‘post house price correction’ future will be very bleak for the majority of the UK population.

    Reply
    Please complete the required fields.



  • sovietuk,

    You are so right! Personally, I am getting very fed up of the lifestyle in this country. You have to earn the equivalent of the GDP of a small Eastern block country – and for what? – to live like a f#*king peasant! I have started exploring my job prospects abroad.

    Reply
    Please complete the required fields.



  • Sovietuk is correct. The UK cannot continue to prosper by generating fake revenue by swaping money between our islanders. However, the comments made about Eastern Europe and Asia need revising. We compete internationally on quality, not price. Components for disposable technology (such as mobile phones and TVs that get binned once they are out of fashion) are made in cheap countries. However, quality products that need to last are made, or at least designed, here in the UK; train parts, aircraft carriers, fighter jets, chemicals, cable, furniture to name but a few.

    The financial sector in London is booming and is responsible for most of the growth. But I wonder what will happen when the Russian oligarchs (mafia) move their money elsewhere. I suggest you read the book; the Washing Machine.

    Reply
    Please complete the required fields.



  • Calm down Royston. I am also a would-be first time buyer planning of living abroad. Did you know that 1 in 10 brits live abroad permanently? This ranks us third in the world for population spread. Only Chinese and Indians have more communities worldwide. What part of the UK are you in anyway and how much do you get paid?

    Reply
    Please complete the required fields.



  • I am absolutely certain a massive crash is being engineered by NeoLabor so we can be dragged into the euro when the pound and the economy crashes in order to be ‘rescued’ by those jolly nice people in the E.U.

    One thing is for sure, Teflon ‘n’ Gordo will do very nicely out of it whilst the ordinary folk of the U.K. are shafted.

    Reply
    Please complete the required fields.



  • japanese uncle says:

    Mediterrenean countries are the best. The problem is the language. Few speak English there.

    Reply
    Please complete the required fields.



  • Of course a house price crash is looming. I don’t know why people think it is not. House prices cannot outstrip wage inflation in the long term. Something is only worth what people can afford to pay for it. If house prices continue to rise, who do people think they are going to sell their house to – Richard Branson? The situation right now is that someone on an average wage looking to buy a house cannot afford a 25-year mortgage on the average house – by some distance. Add the fact that more and more people are now going to university (rightly or wrongly, who cares?) and the level of debt they now incur doing so is far higher than it was 10 years ago. And the coup de grace. Four years ago the base rate of interest was 3.5%, now it is 5.25% and likely to rise further. People now cannot afford to pay what people paid for houses four years ago, let alone a 50% to 60% hike on that 2003 price. I wish everyone would wise up. Its retarded to think house prices can outstrip wage inflation forever and ever. You’re only ripping off your own kids, which you might not have had yet. Every time house prices outstrip wage inflation, you make it yet more difficult for your own children to get on the property ladder. Yeah, that’s right. See people who are always bragging about how fabulous it is that their house is just rocketing in value (about 95% of the population), they don’t seem to care that they are consigning the people who follow them to carry a huge burden of debt. The people who follow them? The guy who was two years below them at school, the kid down the the street, the kids who are their sons and daughters!!!! And as for people who think they can climb the property ladder – gies a break!!!? Let’s say you buy a house for £200,000. In five years your house has magically doubled in value (see that money fairy, I think she’s been at the sherry again) to £400,000. WOW! A profit of £200,000 now you can move up the ladder and get that house you saw five years ago that was valued at £300,000. Well, it’s now worth £600,000. So you now need a £400,000 mortgage for a house you could have bought for £300,000 five years previously . . . mmmmmmm

    Reply
    Please complete the required fields.



  • enuli,

    Funny Blair has his Future in Brussels what a coincidence.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>