A few months ago it was fear of rising prices, and now it’s fear of them falling? Some people are eternal pessimists, it seems.
Oh we can’t have a month of fall after 22 years of pretty solid rises
In my area house prices need to fall by almost 20% just to be back to late 2019 pre-covid prices.
A once in a generation size crash, larger than the total crash in 2008/9, just to be back to the already high prices of 2 years ago.
Its just nuts.
I live in the South East, house prices would need to fall 60% just to have the same house price to income ratio as we did in the late 90’s. God forbid they fall by 3p without the government pumping them up while keeping supply choked off though, how else would boomers continue their lifetime passion of leeching?
If they could arrange a 50% drop in Cornwall that would be great
I bought my house in June 2020 for 300k. The house down the road has just gone on the market. It’s almost identical to mine, a bit nicer in terms of decoration, but the garden is more of a state.
They’re asking for 425k. Absolute madness.
Also, why is a price reduction only a fear? If houses were priced fairly then prices should reflect the present value of possible future rent payments.
I’ve “made” about 40% on my house in the 6 years I’ve owned it. If the prices drop 20%, that would be huge. I’d still well in profit for doing basically nothing. And I’d actually rather see my younger, less wealthy friends get places to live than personally make 50k to be honest. Especially as that 50k isn’t real money…
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Non-paywalled version: https://archive.ph/zrdV9
A few months ago it was fear of rising prices, and now it’s fear of them falling? Some people are eternal pessimists, it seems.
Oh we can’t have a month of fall after 22 years of pretty solid rises
In my area house prices need to fall by almost 20% just to be back to late 2019 pre-covid prices.
A once in a generation size crash, larger than the total crash in 2008/9, just to be back to the already high prices of 2 years ago.
Its just nuts.
I live in the South East, house prices would need to fall 60% just to have the same house price to income ratio as we did in the late 90’s. God forbid they fall by 3p without the government pumping them up while keeping supply choked off though, how else would boomers continue their lifetime passion of leeching?
If they could arrange a 50% drop in Cornwall that would be great
I bought my house in June 2020 for 300k. The house down the road has just gone on the market. It’s almost identical to mine, a bit nicer in terms of decoration, but the garden is more of a state.
They’re asking for 425k. Absolute madness.
Also, why is a price reduction only a fear? If houses were priced fairly then prices should reflect the present value of possible future rent payments.
I’ve “made” about 40% on my house in the 6 years I’ve owned it. If the prices drop 20%, that would be huge. I’d still well in profit for doing basically nothing. And I’d actually rather see my younger, less wealthy friends get places to live than personally make 50k to be honest. Especially as that 50k isn’t real money…