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Originally posted by Dauphin
I want UK house prices to fall.
I want UK house prices to fall.
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Same here, although I have been looking now and again and I think the same trend is happening here...nothing too dramatic mind you...let us hope for more of the same
Speaking of Erith:
"It's not twinned with anywhere, but it does have a suicide pact with Dagenham" - Linda Smith -
The bbc website has house prices in the south east up 6% on last year, surrey up 10% and my council up 20%. You keep holding onto that pipe dream mate.
Safer worlds through superior firepowerComment
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This is bad for America but good for me.Christianity: The belief that a cosmic Jewish Zombie who was his own father can make you live forever if you symbolically eat his flesh and telepathically tell him you accept him as your master, so he can remove an evil force from your soul that is present in humanity because a rib-woman was convinced by a talking snake to eat from a magical tree...Comment
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One might argue that a soft landing is better than a bubble burst for everyone, including the losers."The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists."
-Joan RobinsonComment
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Re: Re: US Median House Prices Fall
Greenspan said a lot of nonsense in his day, but this language probably helped the US stay out of recession during the period.Originally posted by Colon™
Of all the stupid fads Greenspan launched "goldilocks economy" certainly stood out.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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Why would this be bad?
it is good for people who need to buy a house, young couples etcI need a foot massageComment
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It will cool off the economy. So many people in the US use their overvalued houses to secure loans to spend money.
If I may quote an economist:
"The man who borrows in order to spend will soon be ruined, and he who lends to him will generally have occasion to regret his folly."
It wasn't said about this in particular, but I feel it appropriate."The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists."
-Joan RobinsonComment
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If you are a house buyer , especially a family looking for increased space, then a hard, hard landing is in your interests.Comment
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do you mean a first time buyer? or existing owners looking to buy a new house?Safer worlds through superior firepowerComment
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Anyone moving up, but first time buyers is the most extreme example.Comment
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The UK housing crisis (what crisis? grin the propertied classes) is forcing millions of Britons into some of the worst living standards in the industrialised world. I gather in London prices have been rising by as much as 20% a year. I have been scrimping and saving for years, but prices rise faster than its possible to accumulate savings or increase income.Originally posted by Provost Harrison
Same here, although I have been looking now and again and I think the same trend is happening here...nothing too dramatic mind you...let us hope for more of the same
We need another million houses - in the green belt please, London is already overflowing with rabbit-hutch sized flats. If the middle class nimby w*nkers complain then send in the tanks, I say.Comment
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Assuming of course that you don't lose your job in the process. High housing prices are financing borrowing in the US, a hard crash will lead to bankrupcies and a general decrease in consumer spending. This will result in an economic downturn. The severity of the housing market decline will determine if this is a minor dip or a recession.Originally posted by TCO
If you are a house buyer , especially a family looking for increased space, then a hard, hard landing is in your interests."The purpose of studying economics is not to acquire a set of ready-made answers to economic questions, but to learn how to avoid being deceived by economists."
-Joan RobinsonComment
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I don't think you can say that. There are a lot of factors in our economy besides house prices.Originally posted by Victor Galis
The severity of the housing market decline will determine if this is a minor dip or a recession.I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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That brings up an interesting point that I've been wrestling with personally. If you mark your home to market, an increase in price while interest rates are stable or rising only adds to your carrying cost for the space.Originally posted by Flubber
Thats the way I feel. My house is up HUGE is the 4 years since we built it and if I sold I could probably pocket about 350K.
But whats the point? Unless I change cities I would just end up buying back into the same market -- -
Banks let you borrow against the new equity after an appraisal so its all goodI came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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I don't know how anybody with a normal income can afford to live in London. It's tough enough finding something nice in some U.S. cities nowadays.Originally posted by Snotty
The bbc website has house prices in the south east up 6% on last year, surrey up 10% and my council up 20%. You keep holding onto that pipe dream mate.
I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891Comment
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