Don’t worry guys, the big wage earning workers for the “haves” are back earning the big bucks.
Why is it called “growth” for houses and “inflation” for everything else?
Yet people at housepricecrash still waiting for the crash lol
There used to be a guy who knocked around British subs saying that owning was bad and renting was better for most people.
Not seen him for a while now.
The market is slow .
Lots of small independent EA going bust.
Here comes the peak, millennials everywhere are waiting for the bubble to burst so the landlords will all sell & we can finally get on the market
Edit: Yes, I’m well aware the burst isn’t going to come. Prices are only ever going to go up, your wealth is safe. Millennials are all paying a mortgage, it’s just someone else’s mortgage.
And they wonder why younger Millenials and older Gen Z aren’t happy lmao
People waiting for the crash are the same as those trying to time the stock market, there are rare dips but the general result is it continues to climb.
There’s too much money stored in property, peoples pensions back it, and there is just too massive a demand vs supply problem. Not to mention as others have, if there are situations where they begin to fall, affordability disappears with pumping interest rates.
A lot of smug comments here for useless data.
I dont really care much but never ever take what bank says at face value. These numbers don’t include cash buyers for starters…
The data that’s valuable is land reg one. For some reason the media doesn’t report on this anymore.
Anyways. Back to work I go lol
Yet another metric for why every day in every way the country gets worse.
And with every Government consistently failing to increase building. It will only continue to get worse as demand outstrip supply.
*Run from it, dread it, undesirable house inflation arrives all the same.*
I wish we used affordability as the main metric.
House price affordability down.
This is not good news. I hate the way the press always spin it as ‘growth’.
If energy is prices go up, pressure groups rightly shout about those who can’t afford it and how some people will be pushed into poverty.
If food prices go up, the same thing happens.
But when house prices rise, seemingly all media sings and dances about how the economy is buoyant, completely ignoring that the ever inflating cost of actually just having a roof over your head is crippling families, younger people particularly, and this collectively has a way bigger effect on poverty than energy or food costs combined.
Can the media, and politicians actually wake up to this dire situation, and actually do something about it.
So it rose by 3.2% in 2 years? Not really what the headline would impress
Anecdotally I know a couple of people selling houses who are having problems selling. They have dropped their asking price and still not selling. They went with the asking price the estate agent recommended initially. This is in good area in the south east and both houses are pretty much immaculate ready to go.
I honestly don’t understand how the housing market is still functioning. It makes no sense how people are still affording prices. I understand we have a supply shortage but I just can’t wrap my head around how the market is not stalling because no-one can afford to buy.
Other countries are sustaining a worse house price to income ratio. There is no way the UK crashes before them. And it seems people are burning their covid savings to tank the high interest rates now to get in earlier before house prices rise further. Since everyone expects those rates to go down which they will do.
17 comments
Don’t worry guys, the big wage earning workers for the “haves” are back earning the big bucks.
Why is it called “growth” for houses and “inflation” for everything else?
Yet people at housepricecrash still waiting for the crash lol
There used to be a guy who knocked around British subs saying that owning was bad and renting was better for most people.
Not seen him for a while now.
The market is slow .
Lots of small independent EA going bust.
Here comes the peak, millennials everywhere are waiting for the bubble to burst so the landlords will all sell & we can finally get on the market
Edit: Yes, I’m well aware the burst isn’t going to come. Prices are only ever going to go up, your wealth is safe. Millennials are all paying a mortgage, it’s just someone else’s mortgage.
Why a bubble burst wouldn’t help anyways:
https://www.reddit.com/r/unitedkingdom/s/BFY1x0GoLx
And they wonder why younger Millenials and older Gen Z aren’t happy lmao
People waiting for the crash are the same as those trying to time the stock market, there are rare dips but the general result is it continues to climb.
There’s too much money stored in property, peoples pensions back it, and there is just too massive a demand vs supply problem. Not to mention as others have, if there are situations where they begin to fall, affordability disappears with pumping interest rates.
A lot of smug comments here for useless data.
I dont really care much but never ever take what bank says at face value. These numbers don’t include cash buyers for starters…
The data that’s valuable is land reg one. For some reason the media doesn’t report on this anymore.
Anyways. Back to work I go lol
Yet another metric for why every day in every way the country gets worse.
And with every Government consistently failing to increase building. It will only continue to get worse as demand outstrip supply.
*Run from it, dread it, undesirable house inflation arrives all the same.*
I wish we used affordability as the main metric.
House price affordability down.
This is not good news. I hate the way the press always spin it as ‘growth’.
If energy is prices go up, pressure groups rightly shout about those who can’t afford it and how some people will be pushed into poverty.
If food prices go up, the same thing happens.
But when house prices rise, seemingly all media sings and dances about how the economy is buoyant, completely ignoring that the ever inflating cost of actually just having a roof over your head is crippling families, younger people particularly, and this collectively has a way bigger effect on poverty than energy or food costs combined.
Can the media, and politicians actually wake up to this dire situation, and actually do something about it.
So it rose by 3.2% in 2 years? Not really what the headline would impress
Anecdotally I know a couple of people selling houses who are having problems selling. They have dropped their asking price and still not selling. They went with the asking price the estate agent recommended initially. This is in good area in the south east and both houses are pretty much immaculate ready to go.
I honestly don’t understand how the housing market is still functioning. It makes no sense how people are still affording prices. I understand we have a supply shortage but I just can’t wrap my head around how the market is not stalling because no-one can afford to buy.
Other countries are sustaining a worse house price to income ratio. There is no way the UK crashes before them. And it seems people are burning their covid savings to tank the high interest rates now to get in earlier before house prices rise further. Since everyone expects those rates to go down which they will do.
The crash just won’t happen.