House prices to rise 14pc to record highs by 2015

[lukemg]

Calm down people - 14% in 4 years is likely to be a drop in real terms !! Prices are going sideways at best as incomes catch up and credit is released to the market. Can't rule out another bubble but next 5 years looks steady enough which I think is the best outcome even if a consumer boom based on house prices increasing might help us out short-term !

[Jeff Maginty]

..

[scooterscot]

Where all the potential buyers for 14% higher house prices are going to come from?

After that arrive in Kent from far far away they'll have saved up enough benefits by then?

[VectraMan]

Tenants are slaves.

You have to translate the percentage of money paid in rent into time worked.

If you're paying 58% of your earnings in rent, then effectively you work from January to September picking your land lords crops. Just so you can have a crappy rough over your head.

And if you're paying 58% of your earnings in mortgage interest, then effectively you work from January to September picking your bankers crops. Just so you can have a crappy rough over your head.

The next generation of young professionals are going to have £50K's worth of university debt to pay for on top of the costs we might have had. Where all the potential buyers for 14% higher house prices are going to come from?

[scooterscot]

Bought my first home when I woz 22

£35K! in upper north kelvinside (aka maryhill)

[scooterscot]

All those poor kids having to either get knocked up to get a council house or live with their parents until they too are old.

This path will lead to riots.

This quote does well to look at the bigger picture of what's going on:

The government wants the cash to be used to build affordable homes, to make up for a significant reduction in grants.

No. They want to drive the tenants into the arms of the property flippers.



But with private sector rents in England having risen to 58% of the gross weekly wage of the lowest paid, and to 72% in the case of London, there are fears many on benefits will be unable to afford the impending increases.

Tenants are slaves.

You have to translate the percentage of money paid in rent into time worked.

If you're paying 58% of your earnings in rent, then effectively you work from January to September picking your land lords crops. Just so you can have a crappy rough over your head.

If you're in London, you're working for your landlord for three quarters of the year.

It's slavery, cleverly done with little pieces of paper

And the cruellest part of the joke, is how the landlords finance their purchases of property by money the banks pull out of thin air. They produce nothing and they suck up the fruits of everyone else's labour.

Parasites.

There is no other word. Blood sucking parasites.

Families 'will be priced out of social housing by plans for higher rents' | Society | The Observer

[TimberWolf]

You know the market is f****d up when the average first time buyer's age is now 35.

All those poor kids having to either get knocked up to get a council house or live with their parents until they too are old.

This path will lead to riots.

The average age of a first-time buyer is 35 today compared with just 23 in the 1960s.
Half of first-time buyers given up hope - Telegraph

[PAH]

You know the market is f****d up when the average first time buyer's age is now 35.

All those poor kids having to either get knocked up to get a council house or live with their parents until they too are old.

This path will lead to riots.

[centurian]

Financial expert Jasmine Birtles, of Moneymagpie.com, said: “This is finally some good news amid a lot of recent bad economic news.

And WTF is it good news... even as a home owner myself, the last thing I want to see is for house prices to spike again. You're no richer - you have to pay the same inflated prices when you move somewhere else.

“It is particularly welcome for people who don’t have enough pensions savings as they will be able to make money from their property.

Oh, so basically "free" money then - just buy a house and you're guaranteed to make money - exactly the attitude that got us into the housing boom in the first place.

[TimberWolf]

That would make it 14% more impossible for first time buyers to buy a house.

[PAH]

Another reporter with the same story:

Express.co.uk - Home of the Daily and Sunday Express | UK News :: SHOCK RISE IN HOUSE PRICES

The above is by:

Twitter

I can see a theme. Tasty lasses that have obviously already had their brains f***** out!

[scooterscot]

We're saved!

[Jog On]

According to Emma Wall (below):

The housing slump is over, according to the Centre for Economics and Business Research (CEBR). The think tank has predicted that by 2015 house prices across the UK will have risen on average 14pc – to an all-time high.

Link

Boomed!