Are house prices out of control.

[Boomerang]

Is there a disconnect from affordability and house prices.
With a recession and rampant inflation where are house prices headed ??
What's fueling rises, interest rates rising cost of living rising ,will house prices fall, stabilise or just keep on rising.

 

[Northeastfarmer]

I thought house prices were already easing….

 

[Chuckie]

Watching the news, it would seem that the only thing that is too expensive is food

 

[teslacoils]

UK economy built on house prices and laundering money.

 

[copse]

I have just sold a chunk of land for houses and the builders are not one bit worried about prices easing.

 

[honeyend]

I would recommend watching 97% Owned, which explains the money 'supply', we watched it on Netflix.

97% Owned (2012) ⭐ 7.7 | Documentary

1h 44m | 15

www.imdb.com

While there is 'free' money to be made, lending money, there is no reason for property prices to fall, by a huge amount.

On a lighter note, the film The Big Short, https://www.imdb.com/title/tt1596363/?ref_=nv_sr_srsg_0, explains sub prime mortgages, and how they were sold, in an entertaining way.

 

[bobk]

Plenty of money , not enough houses , we can square this circle

 

[kiwi pom]

Apparently, they are falling here after huge increases recently. Blamed on the interest rate rises I think, currently 4.25%, we certainly don't have an oversupply problem.
Isn't the UK trying to do similar?

 

[bobk]

Apparently, they are falling here after huge increases recently. Blamed on the interest rate rises I think, currently 4.25%, we certainly don't have an oversupply problem.
Isn't the UK trying to do similar?

NZ houses have never been cheap unless you live in the sticks

Blame WEF

 

[Still Farming]

Plenty of different angles to it and the increase in Residential Social Landlords and Housing Associations too?

 

[Boomerang]

I have just sold a chunk of land for houses and the builders are not one bit worried about prices easing.

So the young are basically f**ked then .
The housing job is full of shark's.
There is a site near me that's advertising a courtyard development of barn conversions.
But there's never been a barn on it , and the 3 conversions are block work from ground up and not conversions at all.

 

[Hilly]

Yes they are ridiculous price , idiots life time of slavery for the banks paying them off suckers !! Buy a caravan

 

[toquark]

Too many people chasing too few houses = high and rising prices.

It’s a pretty simple supply and demand problem.

 

[Hilly]

An economy built on house prices what a joke this country is .

 

[Boomerang]

So no use anyone waiting for a correction then .
Is this a can that's being constantly kicked down road and will ultimately end in a catastrophic disaster or its OK. Keep increasing debt judgement day will never cone .
The trillions of debt the yanks are in who to China????
The world I'd operating on a MASSIVE bubble of debt it can't end well.

 

[kiwi pom]

NZ houses have never been cheap unless you live in the sticks

Blame WEF

They've always been expensive in Auckland but other cities not so much.
As you say outside of cities, they have been very reasonable (even I have one) but there had been a very large increase until the last few months.
I think government changed rules around being a landlord which has made those who buy an extra house or two to rent out, think twice before doing it.

 

[Oldmacdonald]

And it was all Thatchers fault. Starting the ridiculous right to buy, giving everyone the idea that they need to own a home.

 

[Oldmacdonald]

Blame WEF

??????????

Is this the big baddie we need to blame for everything now you don't have Brussels to complain about?

 

[kiwi pom]

Yes they are ridiculous price , idiots life time of slavery for the banks paying them off suckers !! Buy a caravan

Too many rich folks buying up entry level houses to rent them out.
Houses should be a place of shelter not a money-making business for the wealthy.
Rentals for those who can't/won't buy should be owned by government/councils.

 

[bobk]

They've always been expensive in Auckland but other cities not so much.
As you say outside of cities, they have been very reasonable (even I have one) but there had been a very large increase until the last few months.
I think government changed rules around being a landlord which has made those who buy an extra house or two to rent out, think twice before doing it.

Kids now see a house purchase as part of their pension , not a bad move imo
State pensions won't keep you