House prices booming

[DimPrawn]

http://news.bbc.co.uk/1/hi/business/5233720.stm



House price growth picked up in July and the overall market remains "fairly buoyant", according to the Nationwide.
The building society's latest housing survey found that prices rose by 0.8% last month, up from 0.3% in June, pushing the annual growth rate to 5.9%.


We need more immigrants to keep house prices rising.

[sasguru]

I'm in the market at the moment and it's boiling over in London. And no it's not the immigrants that are causing it, they've got more sense. The banks are now routinely lending 6 times salary (!! - I know because I was offered it with no checks) and there are plenty of muppets who are taking on those kinds of debts.

[ASB]

Try Moscow then. Average "local" salary circa 400 USD p.m. 150sqm Western apartment circa 400k USD. Rent of the same about 7000 USD. p.m.

I know it's still a frontier economy, but even so it's getting well ahead of itself.