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Reply to: House prices are BOOMING!!!!!!!!1
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Previously on "House prices are BOOMING!!!!!!!!1"
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Originally posted by zeitghostI really enjoyed Sarah Beeny's prog last night.
She'd found a new ager who was concerned about putting crystals under the floorboards and taking all the internal walls out of 3 stories of her house.
And a pair of space cadets (one was an astronomer) who were into recycling bits of tat out of skips....
Mind boggling.
Young lizards of today and all that...
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I did hear on the grapevine that the Government was thinking of recognising families with multiple husbands, who would then share the burden of a mortgage.
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Originally posted by zeitghostI really enjoyed Sarah Beeny's prog last night.
She'd found a new ager who was concerned about putting crystals under the floorboards and taking all the internal walls out of 3 stories of her house.
And a pair of space cadets (one was an astronomer) who were into recycling bits of tat out of skips....
Mind boggling.
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Originally posted by DimPrawnHouse prices - "To infinity and beyond!"
Sounds better than "We're doomed!"
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It's incredible. Think, in 100 yrs, the average 3 bed semi can be paid off and the equity would be enough to buy a small 3rd world country or large tropical island.
Everyone in the UK will have the wealth of Bill Gates.
All through the diligence and skill of Gordon Brown. Gawd bless im.
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Originally posted by BlasterBates...well I've finally capitulated, for the last three years I've been waiting for a housing crash, but it aint going to happen, I now predict that house prices will rise indefinitely at 10% a year.
Heck if I lived in the UK I wouldn't work I'd just live off the capital increases take out bigger mortgages, paying off the bigger mortgage with an even bigger mortgage the following year.
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Don't you get the feeling that your "perceived wealth" isn't worth quite as much as it was ten years ago? Perhaps fractional reserve banking has something to do with it...
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House prices - "To infinity and beyond!"
Sounds better than "We're doomed!"
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...well I've finally capitulated, for the last three years I've been waiting for a housing crash, but it aint going to happen, I now predict that house prices will rise indefinitely at 10% a year.
Heck if I lived in the UK I wouldn't work I'd just live off the capital increases take out bigger mortgages, paying off the bigger mortgage with an even bigger mortgage the following year.
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Originally posted by The Lone GunmanThe next step is to introduce 100 year or family mortgages that can be passed on to your kids.
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Originally posted by hyperDDon't laugh: the Ruskies did that to the Hungarians.
re: 8% - with wage rises ~ 3% you would expect a market correction/slowdown unless of course there is pressure on demand, such as immigration.
According to a report I read on the BBC yesterday (cant be arsed to find it again for a link) lenders are now willing to loan 6 times salary as opposed to the 2.5 it used to be. This is allowing the bubble to expand.
Obviously this can't go on forever. The next step is to introduce 100 year or family mortgages that can be passed on to your kids.
As long as mortgages are affordable the price will keep on rising.
Apparently all the pointers for a stable economy for the lenders are good. Low inflation, steady/low unemployment and steady interest rates are all part of it.
<Anybody else see a slight problem here?>
Dont shout at me I am only relaying what I read.
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Originally posted by DimPrawnThat is until the New Lie in 2010 bring in the "home ownership fairness initiative legislation" which means all homes are snatched by the government and then handed to the 15,000,000 asylum seekers.
re: 8% - with wage rises ~ 3% you would expect a market correction/slowdown unless of course there is pressure on demand, such as immigration.
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What's interesting is over the same period, average pay WILL NOT match 8%, making home ownership less and less affordable.
That is until the New Lie in 2010 bring in the "home ownership fairness initiative legislation" which means all homes are snatched by the government and then handed to the 15,000,000 asylum seekers.
HTH
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Originally posted by DimPrawnAverage house prices in England could rise from £195,000 to nearly £290,000 by 2011, research from Oxford Economic Forecasting (OEF) has said.
The numbers sound nice, but I'm in two minds as to whether anyone should get excited about it.
On the HIP side of things, does this mean NL might actually consider bringing in something useful instead?Last edited by Joe Black; 19 July 2006, 19:21.
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