Does anyone still think the housing market isn't broken?

The point of raising interest rates is to reduce inflation by encouraging you to save rather than spend.

There's confusion at the moment because inflation should be higher than it is. IMO it's because they're not measuring it properly. So my prediction is a new measure of inflation coming soon to an economy near you.
 
Efour said:
What a great contribution to the discussion.
Has he rubbed your noses in it enough?
He doesn't need your money anymore so might throw the crumbs off to you soon.

The basic stuff of life, a roof over your head.
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“I’m alright jack.”
 
purplesky said:
The higher rates and higher inflation parts are correct - they're coming. Unfortunately, higher wages aren't. The globalists saw to that.
In the future it's more likely more people will be living in cardboard boxes under street lighting in the local park with plenty of smashed cider bottles nearby.
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Brexit will mean higher wages.
 
Edrof said:
Have you been able to raise your rental prices in that time, due to more people having to rent because of house-prices being unaffordable?
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I've kept the rent in line with the local areas and wages. Sometimes rents go up, sometimes down. I was lucky getting involved with property years ago though when prices were cheaper. People getting involved in buy to let today though probably won't do well, not unless they can buy the property outright to begin with like I did.
 
Scam said:
Wow, gosh. A whole year? How did you cope? Firstly your obviously ridiculous assumptions aside (most people I know don't buy a phone every year, don't spend every night in the pub, don't own a flash car; if any) that part of your post proves you have absolutely no idea what is going on in the real world. Have you even looked at the prices of places further south than Birmingham? Even saving £1k per month for a year only nets you £12k. You give £12k to someone in the south for a deposit and they'll laugh you out of town. You ain't get diddly squat with that. It's just impossible. The average deposit is over £33k, so pull the other one with your holier-than-thou attitude; http://www.independent.co.uk/news/b...-housing-market-report-mortgage-a7816321.html :rolleyes:

If you really want to compare apples to apples then fortunately Shelter and other bodies have already done the independent research for you. If grocery prices had risen as much as house prices than a 4 pint of milk would cost over £10 and a whole chicken would cost more than £50. Now do you still think house price inflation isn't out of control? https://www.theguardian.com/money/2013/feb/07/shelter-extent-dysfunctional-housing-market
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You're proving my point though. You want to live in the south you pay south prices you want a cheap house move else where. Exactly what I mean about people wanting everything.
Basic supply and demand, move where there is less demand.

I'm happy for house prices to keep rising.
 
Moses said:
Both of my brothers need to live in London, or a commutable distance, as they work for central government. What should they do?
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They don't need to live in London they're choosing to live there. I'm guessing they chose they're jobs and weren't forced to do them.
So change jobs. What's a commutable distance I drive 1 hour 30 minutes to work so that I can work where I want and live where I want.
 
LabR@t said:
Turn the tap off on cheap labour, what do you think will happen?

We was warned this would happen by project fear. ( As if it is a bad thing)
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Nothing will happen. Cheap EU labour will be replaced by cheap UK labour.
 
The whole commuting to London thing is kind of ridiculous anyway. Commuting all that way just to sit at a desk in front of a computer.

I'm sure there are people who commute into London just to move numbers around on spreadsheets, and that this could probably be automated.
 
I work in London and I live in Staffordshire. Best of both worlds (pay/cost) but I am at a stage in my career when I can have that luxury and also work from a proper home office or any location really. There is a mindset in London amongst the young where it's all they know. They just assume they must be in London because that's where the work is or that's what they need to do to make money. There is no question that there is much to attract the young to the city, it's one of the worlds most incredible cities.

I can understand that mindset but it's wrong. There are great, high paying jobs across the UK, there are just more of them in London like any capital. London is a huge issue for the UK and we need significant change in legislation to change that. What I see and observe is people actually wanting to be in London because of what it offers and the 'can't get work elsewhere' is actually just a self justification of staying in London. Birmingham, Manchester, Leeds, Edinburgh all have places to earn just as well as London and to pay far less to live, but it's not London. When I see people in mundane jobs it's even less of an argument but what they are actually saing is I am used to earning 40K for a 30K job and don't want to take the drop.....when they could save 10K living somewhere else (a simplistic example). THAT is the reality.
 
billysielu said:
There's confusion at the moment because inflation should be higher than it is. IMO it's because they're not measuring it properly. So my prediction is a new measure of inflation coming soon to an economy near you.
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Agreed. The fact house prices aren't included in inflation figures just proves the government is in on the whole Ponzi scheme. It's laughable.
robj20 said:
You're proving my point though. You want to live in the south you pay south prices you want a cheap house move else where. Exactly what I mean about people wanting everything.
Basic supply and demand, move where there is less demand.

I'm happy for house prices to keep rising.
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Apart from it's not supply and demand. It's a fixed housing market due to BTL, landlord tax breaks, poor rental sector, foreign investment etc. I could go on.

And why is it ok for a a council tenant to insist on living that they grew up in Islington and are therefore entitled to a council house there for the rest of their life, whereas I grew up in the SE and all I want to do is live there?

And what happens when nobody can afford to live anywhere? Prices in Manchester have been rising faster than London. Shall we not live there either? What about Birmingham when that gets trendy? There won't be anywhere left for people. Telling people to move up north is a short sighted sticking plaster to a massive problem that will only get worse and worse.
 
Moses said:
Unemployment’s been going down and down yet we’re seeing real terms wage decreases. If Brexit happens we’ll still have loads of cheap European workers here because industry will say we need things like the seasonal worker visas we used to have etc. Didn’t one of the top cabinet ministers say immigration won’t go down when he gave a speech somewhere in the east? Estonia rings a bell.
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Unemployment isn't going down as such, when you take into account how underemployed people are. There's plenty of people who are nominally employed but very much struggling. It's another misuse of terminology that the government likes. It would be interesting to know the full time equivalent of various levels of employment.
 
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