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House prices in America


four-wheel-drive
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Thanks for that I new that I have seen it somewhere in the end for the most pert it all comes down to work unless you have a privet income and if you did it is not lightly that you would be interested in a small house and a house miles from anything is not much use look at all of the abandoned mining towns all around the world you could pick up a house in one of them for next to nothing with only a few strange people for company.

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I think we are going to see a big correction here soon. Perhaps not as big as US but 30%? I was looking at some stats recently as part of research into buying a second home. Whilst asking prices are only down 5% YoY the number of sales were low and the prices of the house that actually sold were down 25% YoY. At the moment people are still asking a lot and the buyers aren't there willing to pay those prices. People who have to sell are doing so at a discount. When more people have to sell because of the lengthy recession then prices will start to tumble.

 

Mind you I could be talking out of my ****

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I wish that I could believe it but this country is so overcrowded and there is such a shortage of good houses that I cannot see the price ever going down unless one day the killer flue finally arrives and kills off half of the population of this country this is not imposable it tends to happen every 100 years or so then there would be to many houses so the asking price would drop like a stone.

 

When I was young in the 50s there was lots of old houses about and nobody wanted to buy them as everyone wanted a nice clean new house or flat I now of people who picked them up for next to nothing and tuned them in to nice homes mind you the council preferred to condemn them and knock them down.

Edited by four-wheel-drive
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I wish that I could believe it but this country is so overcrowded and there is such a shortage of good houses that I cannot see the price ever going down unless one day the killer flue finally arrives and kills off half of the population of this country this is not imposable it tends to happen every 100 years or so then there would be to many houses so the asking price would drop like a stone.

 

When I was young in the 50s there was lots of old houses about and nobody wanted to buy them as everyone wanted a nice clean new house or flat I now of people who picked them up for next to nothing and tuned them in to nice homes mind you the council preferred to condemn them and knock them down.

 

On the face of it you are right. Number of people wanting a house outstrips supply so we see inflated prices. However, I think you need to factor in who can afford the houses though. When the number of people who can afford a house falls significantly, and I believe it will, then you will see more dramatic falls.

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Its simple supply and demand shortfall, however building more houses is not the answer. Fewer people is the answer. Why we are paying to house chav 4X4s, Roumanian Gypsies and Travellers when all it does is drives up the house prices for ordinary people who can't get on the housing ladder.

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Also in the uk we have also seen the failure of traditional family units lots of single parent families where both parents need 3/4 bed houses, an ageing population who wont sell and downsize instead hiring assistance so they can stay in big houses longer, homes empty for long periods. We tried to buy an empty house needed lots of work the family who owned it still havent sold it or done anything with it. its in limbo as are many many others....

Edited by HDAV
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