Sunday, October 4, 2009

House prices are still way to high

Are first-time buyers really in an advantageous position?

Nothing surprising for regular readers just a straightforward commentary on current price levels: "I would go so far as to say that 2007 was a bubble within a bubble, like the last days of Rome. Indeed, whenever I hear any estate agent/ lender/ journalist crow that prices have returned to 2007 levels, I wonder exactly what they were doing in those crazy days, or what they had had for breakfast that morning."

Posted by quiet guy @ 12:20 PM (858 views)
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3 thoughts on “House prices are still way to high

  • WOW isn’t it lovely to read people who actually make some sense (I know I haven’t got much room to talk when so much of what I say is not very articulate), but there have been quite a few articles over the past few day including one by the BBC’s Economics Editor that SAY IT LIKE IT ACTUALLY IS, and the guy that wrote the Citywire piece obviously feels strongly:

    “….to compare anything to two years ago is lunacy, given that it was the housing market at its maddest……Whatever the future direction of house prices, however, buyers would surely be bonkers to rely on interest rates staying that low for too long.

    They might, but they might also be forced up sharply if inflation returns (very possible), and that should be a key consideration in the calculations of any FTB.

    Finally, and perhaps most obviously: HOUSE PRICES ARE STILL WAY TOO HIGH!!

    Sorry for the capitals and exclamation marks, but it’s a message that just doesn’t seem to get through to some people.

    By any reasonable historical measure, apart from those that factor in wafer-thin interest rates until the end of time, house prices are still stratospherically high. ”


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  • 1. sybil13

    Strange? Very!

    The Freedom of Guilt.

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