House prices back to 2008 levels

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Iron Condor replied

3 October 2009, 09:09
Originally posted by TimberWolf View Post

When you sell it, the money you get is worth less because the currency is worth less.

Average Uk house prices have varied between 100 and 700 ounces of gold over the last 35 years.

Back in the 1970s one could be snapped up for 100 ounces of gold.
In middle of this decade they cost almost 700 ounces of gold.

Today an average house can be bought for 260 ounces of gold. Which is 20% up on the start of this year.
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Doggy Styles replied

3 October 2009, 09:04
Doggy Styles: "It's a blip. The economy has been inflated again by the newly-borrowed money, plus the printed money. When that runs out, house prices will go down again. That's quite apart from unemployment increasing."

DimPrawn: "That's not what Kirsty and Phil are saying."

People will believe anything, which is why the economy has been allowed to get into this mess in the first place.

Hardly anyone is saying what I said, but it is true.
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uky kozak replied

2 October 2009, 15:53
Originally posted by TimberWolf View Post

Can house prices be allowed to fall too far? What if, say, a million people in negative equity called in their chips. Wouldn't this bring the banks down?

Nope thats why you pay a mortgage indemnity fee even if you voluntarily hand in the keys or still owe the banks.

http://www.mortgagesorter.co.uk/home...insurance.html
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NoddY replied

2 October 2009, 14:11
The whole financial apparatus of the State applied to keeping the bubble going - and the best result is a reduction in house price falls. Gordon will not be happy.
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BolshieBastard replied

2 October 2009, 11:37
Need to come down further. House prices are still massively inflated.
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TimberWolf replied

2 October 2009, 11:20
Can house prices be allowed to fall too far? What if, say, a million people in negative equity called in their chips. Wouldn't this bring the banks down?
Leave a comment:
DimPrawn replied

2 October 2009, 11:16
Originally posted by Doggy Styles View Post

It's a blip. The economy has been inflated again by the newly-borrowed money, plus the printed money. When that runs out, and as unemployment carries on increasing, house prices will go down again.

That's not what Kirsty and Phil are saying.
Leave a comment:
Doggy Styles replied

2 October 2009, 11:16
It's a blip. The economy has been inflated again by the newly-borrowed money, plus the printed money. When that runs out, house prices will go down again.

That's quite apart from unemployment increasing.
Leave a comment:
TimberWolf replied

2 October 2009, 08:56
Originally posted by Platypus View Post

How is a house in Britain worth anything globally?

When you sell it, the money you get is worth less because the currency is worth less.
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Platypus replied

2 October 2009, 08:55
Originally posted by TimberWolf View Post

They've dropped in real terms though, as compared to what they are worth globally. And here due to inflation too.

How is a house in Britain worth anything globally?
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badger7579 replied

2 October 2009, 08:52
Can I get a "Woop Woop"
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TimberWolf replied

2 October 2009, 08:14
Originally posted by DimPrawn View Post

http://news.bbc.co.uk/1/hi/business/8286028.stm

UK house prices have now recovered to the same level as a year ago, according to the latest Nationwide figures.

The average price of a home last month was equal to September 2008, it said.

The building society said that UK house prices rose by 0.9% in September compared with August, the fifth consecutive monthly increase.

http://newsimg.bbc.co.uk/media/image...ces_1oct09.gif

Gordon has saved us.

They've dropped in real terms though, as compared to what they are worth globally. And here due to inflation too.
Leave a comment:
DimPrawn started a topic House prices back to 2008 levels

2 October 2009, 07:43
House prices back to 2008 levels

http://news.bbc.co.uk/1/hi/business/8286028.stm

UK house prices have now recovered to the same level as a year ago, according to the latest Nationwide figures.

The average price of a home last month was equal to September 2008, it said.

The building society said that UK house prices rose by 0.9% in September compared with August, the fifth consecutive monthly increase.

http://newsimg.bbc.co.uk/media/image...ces_1oct09.gif

Gordon has saved us.
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