craig12 Posted November 9, 2008 Author Share Posted November 9, 2008 yes i know, its just annoying seeing something happen that historicaly shouldnt have happened and now its everyone that suffers, house prices should have kept rising at 10% per year and because of 2007/8 nobody can accept the downturn , but 2007/8 prices were wrong and owners are still clinging onto the fact thact they were correct, greed britain again Link to comment Share on other sites More sharing options...
craig12 Posted November 9, 2008 Author Share Posted November 9, 2008 yes you can quote car prices, wages, beer prices, but houses are different , b/societys always lent no more than 2.5/3 joint income so that makes the house you could afford £90.000 but they knew that wouldnt buy you owt so they made it 5 x joint income in 1970 -1990 you wouldnt have been offered 5 x joint Link to comment Share on other sites More sharing options...
Little Buzz Posted November 9, 2008 Share Posted November 9, 2008 So to summarise: Prices rose to quickly - you feel they are too high You're not happy that they are going through a period of adjustment either. You can't please some of the people any of the time... Link to comment Share on other sites More sharing options...
craig12 Posted November 9, 2008 Author Share Posted November 9, 2008 correct, oh and theyre gonna fall still further because of recession and gdp , u see if house prices were retained at their normal growth rate, we wouldnt have had to have this thread, or negative equity Link to comment Share on other sites More sharing options...
craig12 Posted November 9, 2008 Author Share Posted November 9, 2008 you can please some of the people all of the time you can please all of the people some of the time but you cant please all of the people all of the time Link to comment Share on other sites More sharing options...
Little Buzz Posted November 9, 2008 Share Posted November 9, 2008 Whoosh ...... Link to comment Share on other sites More sharing options...
craig12 Posted November 9, 2008 Author Share Posted November 9, 2008 could you punctuate that please Link to comment Share on other sites More sharing options...
Little Buzz Posted November 9, 2008 Share Posted November 9, 2008 could you punctuate that please Ooh, we'll get the thread closed at this rate, but if you insist: Could you punctuate that, please? Link to comment Share on other sites More sharing options...
craig12 Posted November 9, 2008 Author Share Posted November 9, 2008 i take it that you think house prices are about right then? Link to comment Share on other sites More sharing options...
Little Buzz Posted November 9, 2008 Share Posted November 9, 2008 I've explained my thoughts earlier in the thread, but to summarise: All prices are set by the interaction of supply and demand. House prices are high largely because of high demand (lots of people want to buy houses - there are more people, fewer people want to rent, and more people want to live on their own - and finance has been readily available). As demand falls, so will prices. Prices are only 'wrong' when the market fails. It hasn't in the case of the housing market - the price just represents the relatively scarcity of houses in relation to the number of people wanting to buy them. This is why a house in Consett, say, is cheaper than one in Notting Hill. Link to comment Share on other sites More sharing options...
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