How long is it going to take for the property market to recover in the UK (curious of opinions)?
Saturday, January 8th, 2011 at
3:25 pm
I was hoping that I might get some answers from estate agents that had witnessed a crash in the 90s etc? Is a 2012 return to 2007 property values out of the question?
Repossession
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Tagged with: Crash • Property Market • Property Values
Filed under: property crash
It took me 10 years to sell a 5 bedroomed 3 bathroom detatched house in Paignton Devon in the 90,s and the banks werent bust then.Property starts going up in London first of all then moves south,east,west and then north.Recover from what though.The over inflated prices of 2008 caused by speculation that next year your house price increase would beat inflation and bank charges and you could borrow all the money and still make money.With that philosophy nobody needs to work just buy houses with money borrowed from the banks.The shame of it all is that young first time buyers who only want a home not a money making venture suffer most of all having paid far too much money and now face negative equity and possibly unemployment and the loss of their homes.1.1 million people have negative home equity on the news this morning and to try and boost peoples perception of what is happening in the housing market estate agents are saying that surveyors are having an increase in enquiries.I have heard it all now.
it was a totally artificial market …
it should never return to anything like it was
criminally negligent by the governemnt to allow it in the first place
Ja
Het eerste ding om te begrijpen over bezit dat in feite zijn verandering in waarde zowel door de waarde van het huis en ten tweede door de waarde van geld wordt veroorzaakt.
Er was geen inflatie van de huisprijs alvorens Groot-Brittannië van de goudstandaard kwam. Zelfs toen was de inflatie van de huisprijs laag omdat het pond werd verbonden met de dollar van de V.S. die op de goudstandaard was. Het was slechts toen de V.S. van de goudstandaard in 1971 kwamen die de inflatie van de huisprijs van start ging.
De goldern regel op huizen is de verhouding van huisprijzen aan gemiddelde inkomens. Dit slingert normaal tussen 2.5 – 5 keer gemiddelde inkomens. Wegens nieuwe producten (koop om te laten en zelfcertifcation) in deze cyclus zijn de huisprijzen naar 8 keer inkomens gegaan.
Hoewel de huisprijzen zijn gedaald zijn zij nog bij 6 keer gemiddelde inkomens
De verdere te overwegen factor is normaal de cyclus correct door huisprijzen en lonen het toenemen die vallen. In deze cyclus is de inflatie zeer laag en zodat zullen de lonen niet toenemen zodat de overgrote meerderheid van de correctie door huisprijzen zal zijn.
Vandaar hebben de huisprijzen nog eens 50% om hier te dalen van