Alt headline: zoomers still won’t be able to afford a house but it will seem a tiny bit more achievable than it is now
Figures obtained by making assumptions based on assumptions and waving hands round a bit.
This sounds like anti-growth coalition talk, from those well known Remainer Marxist-Leninists at …(checks story)…City AM.
You just have to believe hard enough and the price will stay up!
Don’t listen to the siren call of the AGC!
**Things Can Only Get Better plays in the distance**
Would be amazing.
Would love to see it.
No chance it happens though.
If it went down even 5% it would all get bought up by foreigners especially with pound so low.
Affordable housing isn’t something to be afraid of.
Good, and they need to come down by more than that.
As a home owner, fucking good!
Hopefully this gives people the chance to do what their parents did, ie buy property in the 80s/90s.
Except now in the new 20s.
Yay! We finally managed to get on the property ladder in London after lots of luck and years of skimping. Paid what felt like over the odds to live in “up and coming” but apparently that was the market rate. Excited to be shafted in a new and interesting way.
Damned if you do, damned if you don’t.
It should keep coming down until it’s 4x the income and not 13x times. 4 times like it was in the 60 & 70s.
So that would bring prices down to what they were about 18 months ago?
It’s hard to see them having a huge crash when we have so much inflation. Value relative to all the money in circulation, sure, but not overall.
It sucks that its hard for people to buy housing, but having a large crash now will screw over all the people who got on the ladder over the last 5 years at fairly high prices.
Would prefer to just see prices stagnate for several years now.
I mean London prices are entirely driven by higher earning jobs and proximity to “things to do”
I live in a city a 40minute train ride from kings cross. I know a LOT of people who’ve moved from London to here and are either commuting or remote working
I have a 3 bedroom detached house at a price that would barely buy me a shitty studio in zone 5 yet I can reach central London faster than people who live there.
London housing prices are fucked. Remote working and high speed rail are going to drive it through the floor
Let’s be honest – of all the crap that’s going on right now house prices did need to come down. Hard to hear for recent buyers I’m sure but the housing price bubble has been hampering life in this country for 2 decades now. Condolences to those who will get hurt but bring it on I say, it’s hugely needed.
Meh it’s not what it seems.
All that will happen is boomers/ businesses why buy up the cheaper stock and rent it out.
Rent definitely hasn’t dropped.
The days of buy cheap starter homes is over, the estate agents all recommend they go to auction to maximize profits.
Okay? Treat it as an asset class and the terms of an asset class are what matter.
Your investment may rise and fall in value, previous outcomes are not a gaurenttee of future returns. You may get back less than you put it.
Literally written on every investment classes terms.
I own my place (with a mortgage) and I’d be happy to see this happen. Shit if we lose money on our place, but I’d rather things be easier for those who have been struggling.
It’s all relative anyway. Unless you own more than one……..
ELI5: why is it a disaster for homeowners if house prices fall really low?
I think we should start using a new metric at this point.
>Home owners at risk of house price crash with London properties facing record value drop of two and a half Northern terraced houses.
Good thing if you ask me. Housing becoming cheaper to get is only a good thing. I can afford a monthly interest rate increase, I can’t afford increasing my salary x fold times to even get the privilege to be offered to own one.
Higher interest rates are also positive in other ways. Many landlords will be denied further mortgages for additional buy to rent properties as banks will be more weary of over leveraging. This means that there will be more housing stock for first time buyers to get at more competitive rates.
I’m really sorry to those who just bought but a housing crash is necessary after the sugar rush addiction to cheap debt we’ve had since 2008.
Incredibly based.
I own a home and I’m happy to see this market crash. It’s all so expensive now I can’t afford to upgrade to a larger house (which I need as my family has grown) even though I’ve theoretically gained £150k in equity value.
“at risk of”, “facing”.
A prediction of a possible future. Let’s see if it pans out.
Let me break out the worlds smallest violin
(and yes I’m a home owner, know what I’m going to do with my house if the price goes down ?? **LIVE IN IT** )
Prices have more than doubled since 2008 with people earning more from their home than they do for working in many cases.
It was never sustainable.
Even in 2008, house prices only dropped by ~15% so whilst dropping house prices sounds fantastic, they’ll at best drop to about where they were last year… whilst mortgage rates being 2-3x higher
Seen this since the 90’s, it will recover and slump, recover and slump…that’s life
What’s happened to this country. When are we going to stand up for ourselves?
Everyone’s happy to take a bloody Thursday off work to go see Lizzies corpse get paraded around to distract you but nobody can muster up the stones to protest what’s happening and becoming worse by the day. Priorities are fucked in the UK
27 comments
Alt headline: zoomers still won’t be able to afford a house but it will seem a tiny bit more achievable than it is now
Figures obtained by making assumptions based on assumptions and waving hands round a bit.
This sounds like anti-growth coalition talk, from those well known Remainer Marxist-Leninists at …(checks story)…City AM.
You just have to believe hard enough and the price will stay up!
Don’t listen to the siren call of the AGC!
**Things Can Only Get Better plays in the distance**
Would be amazing.
Would love to see it.
No chance it happens though.
If it went down even 5% it would all get bought up by foreigners especially with pound so low.
Affordable housing isn’t something to be afraid of.
Good, and they need to come down by more than that.
As a home owner, fucking good!
Hopefully this gives people the chance to do what their parents did, ie buy property in the 80s/90s.
Except now in the new 20s.
Yay! We finally managed to get on the property ladder in London after lots of luck and years of skimping. Paid what felt like over the odds to live in “up and coming” but apparently that was the market rate. Excited to be shafted in a new and interesting way.
Damned if you do, damned if you don’t.
It should keep coming down until it’s 4x the income and not 13x times. 4 times like it was in the 60 & 70s.
So that would bring prices down to what they were about 18 months ago?
It’s hard to see them having a huge crash when we have so much inflation. Value relative to all the money in circulation, sure, but not overall.
It sucks that its hard for people to buy housing, but having a large crash now will screw over all the people who got on the ladder over the last 5 years at fairly high prices.
Would prefer to just see prices stagnate for several years now.
I mean London prices are entirely driven by higher earning jobs and proximity to “things to do”
I live in a city a 40minute train ride from kings cross. I know a LOT of people who’ve moved from London to here and are either commuting or remote working
I have a 3 bedroom detached house at a price that would barely buy me a shitty studio in zone 5 yet I can reach central London faster than people who live there.
London housing prices are fucked. Remote working and high speed rail are going to drive it through the floor
Let’s be honest – of all the crap that’s going on right now house prices did need to come down. Hard to hear for recent buyers I’m sure but the housing price bubble has been hampering life in this country for 2 decades now. Condolences to those who will get hurt but bring it on I say, it’s hugely needed.
Meh it’s not what it seems.
All that will happen is boomers/ businesses why buy up the cheaper stock and rent it out.
Rent definitely hasn’t dropped.
The days of buy cheap starter homes is over, the estate agents all recommend they go to auction to maximize profits.
Okay? Treat it as an asset class and the terms of an asset class are what matter.
Your investment may rise and fall in value, previous outcomes are not a gaurenttee of future returns. You may get back less than you put it.
Literally written on every investment classes terms.
I own my place (with a mortgage) and I’d be happy to see this happen. Shit if we lose money on our place, but I’d rather things be easier for those who have been struggling.
It’s all relative anyway. Unless you own more than one……..
ELI5: why is it a disaster for homeowners if house prices fall really low?
I think we should start using a new metric at this point.
>Home owners at risk of house price crash with London properties facing record value drop of two and a half Northern terraced houses.
Good thing if you ask me. Housing becoming cheaper to get is only a good thing. I can afford a monthly interest rate increase, I can’t afford increasing my salary x fold times to even get the privilege to be offered to own one.
Higher interest rates are also positive in other ways. Many landlords will be denied further mortgages for additional buy to rent properties as banks will be more weary of over leveraging. This means that there will be more housing stock for first time buyers to get at more competitive rates.
I’m really sorry to those who just bought but a housing crash is necessary after the sugar rush addiction to cheap debt we’ve had since 2008.
Incredibly based.
I own a home and I’m happy to see this market crash. It’s all so expensive now I can’t afford to upgrade to a larger house (which I need as my family has grown) even though I’ve theoretically gained £150k in equity value.
“at risk of”, “facing”.
A prediction of a possible future. Let’s see if it pans out.
Let me break out the worlds smallest violin
(and yes I’m a home owner, know what I’m going to do with my house if the price goes down ?? **LIVE IN IT** )
Prices have more than doubled since 2008 with people earning more from their home than they do for working in many cases.
It was never sustainable.
Even in 2008, house prices only dropped by ~15% so whilst dropping house prices sounds fantastic, they’ll at best drop to about where they were last year… whilst mortgage rates being 2-3x higher
Seen this since the 90’s, it will recover and slump, recover and slump…that’s life
What’s happened to this country. When are we going to stand up for ourselves?
Everyone’s happy to take a bloody Thursday off work to go see Lizzies corpse get paraded around to distract you but nobody can muster up the stones to protest what’s happening and becoming worse by the day. Priorities are fucked in the UK