House prices

[pred]

They will hit the deck, when, who knows. About 30-50%

And that's the basic truth. Predicting when a market is going to correct is almost impossible to do, all we can say with certainty is that houses are overvalued and a correction will happen. When is anybody's guess.

The houses are not overvalued!!
We are under paid!!
The gap between rich and poor is greater now than in Victorian times.
My first job in 1969 i was earning a massive £10 per week, now i dont get out of bed for less than £10 per hour and there are those that snigger at £10ph, look at history, house prices are low, wages will increase due to the Bank of England printing off £300 billion odd, once the bankers have stuffed enough into their own pockets then it will start to trickle down.

 

[EddieM]

errr yeah and that just in a decade.

The average wage in 1969 was around £1,600 pa the average house price was £4,600. Therefore approx 3x earnings.

The average wage in 2011 was about £26,000 pa average house price approx £160,000. Therefore approx 6x earnings.

 

[Nige F]

Ah , that`s how Pops got his house . So it`s twice as hard for my offspring now - no wonder they are waiting for me to turn up my toes And no, it`s not a bloody caravan . Freehold prime estate - on a hill with no river in sight

 

[LargeWrench]

They will hit the deck, when, who knows. About 30-50%

And that's the basic truth. Predicting when a market is going to correct is almost impossible to do, all we can say with certainty is that houses are overvalued and a correction will happen. When is anybody's guess.

The houses are not overvalued!!
We are under paid!!
The gap between rich and poor is greater now than in Victorian times.
My first job in 1969 i was earning a massive £10 per week, now i dont get out of bed for less than £10 per hour and there are those that snigger at £10ph, look at history, house prices are low, wages will increase due to the Bank of England printing off £300 billion odd, once the bankers have stuffed enough into their own pockets then it will start to trickle down.

Bearing in mind the average house price is around 160k and the average wage is around 26k, how can you say housing isn't overvalued? My generation (young 20's) have been totally screwed over by the massive rise in house prices. We need at least a 10k deposit which isn't easy to find, especially with youth unemployment the way it is. I live at home but am still finding it hard to save up a deposit as are most people. Only those who have help from family can do it easily. Bet it's easy for you to say that though when you probably got on the property ladder when things were far more reasonable and affordable.

 

[noseall]

The houses are not overvalued!!

Yes they are and by a massive amount.

 

[AronSearle]

The gap between rich and poor is greater now than in Victorian times.

1. Who cares about the wealth gap if we are all richer, only an utter plonker would say we are not richer than 20-30 years ago, let alone Victorian times when most of us lived in abject poverty.

2. The rich don't live in 2 bed homes, so please tell me how the wealth gap is making such places so expensive?

errr yeah and that just in a decade.

The average wage in 1969 was around £1,600 pa the average house price was £4,600. Therefore approx 3x earnings.

The average wage in 2011 was about £26,000 pa average house price approx £160,000. Therefore approx 6x earnings.

That's because we have gone from 1 person being "the earner", to both the man and woman working, house prices have always been set to what people can afford, they are priced on 2x people working rather than 1x (3-6x).

 

[Nige F]

Well the feminists wanted to work - now they ( and most other women ) have to . And there`d be more work for plumbers in Victorian times. The only Gas Safe bods would be the lamplighters and Fanny by Gaslight on every corner

 

[HERTS P&D]

2. The rich don't live in 2 bed homes, so please tell me how the wealth gap is making such places so expensive?

It's the rich buying these 2 bed properties and renting them out.

I worked for a guy who bought property for his wife to look after, (she was bored at home) At the last count she had 32.

Andy

 

[pred]

OMG there are some right thicko's on here, i din't say we are poorer, i said the gap is bigger now between the rich and the poor.

When did anyone on here have a payrise recently, i'm on less now than i was in 2005 and the cost of living has increased so that makes it even worse, if we were paid £50k pa instead of £25k then we could afford to buy a house, instead of dragging people down to your level rise to theres.

 

[noseall]

i'm on less now than i was in 2005

That simply means you were overpaid in 2005.

I don't know where average ordinary people get the idea that they are entitled to drive a brand new 4x4 and have brand new furniture and electrical goods, each time the latest design hits the streets.

People got stupidly greedy when house prices peaked thinking they were wealthier than they actually were. I do smile when i see poor Callum, Tyler and Britney squashed into the back of a 12 year old motor when they were once smirking down at me from their posh 4x4, whilst in my old passat.

People lived frugally once and they can do it again.

To many work shy idiots in this country feel they are entitled to an easy life. We've had our boom, now it's someone elses turn. Deal with it.

 

[AronSearle]

It's the rich buying these 2 bed properties and renting them out.

UK owner-occupation has increased from >40% in the 60s to >60% now.

So that kind of poo poo's your theory, that and why would people pay over the odds to rent out, having ready cash makes it easier to haggle down the price (makes bad business to pay over the odds).

OMG there are some right thicko's on here, i din't say we are poorer, i said the gap is bigger now between the rich and the poor.

Yea, but who gives a **** except those green with envy.

Rich people don't live in dives, so why are even the dives so expensive.

2x wages instead of 1x for mortgages and supply and demand.

When did anyone on here have a payrise recently, i'm on less now than i was in 2005

A statistical insignificant time period, based upon anecdotal evidence.

 

[chainsaw_masochist]

It's the rich buying these 2 bed properties and renting them out.

UK owner-occupation has increased from >40% in the 60s to >60% now.

So that kind of poo poo's your theory

Perhaps not, as this increase will be substantially influenced by the numbers council property right-to-buy enthusiasts. How many were there, now? Two million?

 

[dhutch]

It's all about timing .

Its easy!!

Untitled

• dhutch
• 31 Oct 2012
• 1

 

[gas112]

Aronseale . Why would people pay over the odds to rent out ???
Simple they can afford the higher rent than the mortgage would be but dont have 15,000 plus to put down as a deposit so are trapped in rental

 

[Norcon]

It's all about timing .

Its easy!!

Untitled

• dhutch
• 31 Oct 2012
• 1

The property speculators were convinced the values hit the high points and stayed there.
Mugs.