On balance, do you reckon it is better if property prices go up? Or would it be better if they came down?

[RattysPicnic]

Following on from the 'prices to drop 20% in the next year' discussion.

Can I ask if you want house prices to drop or to rise?

Presumably lots of people are in the 'I'd like my particular property to rise while all the others become more affordable to me' position . But if ALL property was to go down or up, which would suit you better?

They should go down 50%. I wouldn't give a toss about being £80k in negative equity - it would be better for society and we will eventually pay the mortgage off.

It's a house of cards and it is shored up by the rich. And it utterly screws the young.

Down. I think it would be great for everyone to be able to own their own home especially when renting seems to be so difficult.

We've been in neg equity before. We got out of it and still made a lot on our last house. We don't intend to move out of here so neg equity isn't an issue.

I want my children to be able to buy a place if and when they want to.

Down for sure, although I'm not sure that this will happen to any great extent. When prices are as high as this compared to wages the effects on social mobility are disastrous.

down, definitely - it would do so much good in the long run....

Down down down. Then hopefully youngsters will be able to afford their first home, and growing families will be able to upsize as the differential becomes smaller. Estate agents and lenders will then have to look for their ludicrous profits elsewhere, rather than creaming off hard-working normal people for doing FA.

Looked at a house today. Bought in Nov '8 for £577, came on last summer for £750; came on with a different agent end of last year £715; now on at £698. No extensions, no new kitchen/bathrooms, no conservatory. 20% increase? Blatant profiteering. Us & friends very fortunate, highly solvent, not blithering idiots. Likely not to move at all, and stay in our cosy no-mortgage homes. Any agents looking in?

Why do we need estate agents? Please, someone tell me?
If people feel the need to discuss money through a third party, why not go through solicitors? At least they are professionally trained......rant rant rant

We would love to move, but the way things are we may save ourselves hundreds of thousands, stay where we are, put the children through private school, me give up work, month in the Caribbean every Christmas......stick that in your portfolio

OMG I am such a TK

definately down. so that first time buyers have a chance and so that this property ladder ratrace can stop.
and also, I think this would encourage better more family friendly buildings in the long run. the pokey properties where value is defined by the number of bedrooms is just silly. what use are 3 bedrooms if you can only fit a toddler bed in the third bedroom?