UK house prices post biggest fall since October 2008 - Halifax data today Weds 7th Dec

[jimmyjammy001]

Just a quick note for anyone looking to buy, in particular first time buyers who run the extreme risk of running into negative equity if buying with a low deposit

UK house prices post biggest fall since October 2008

Also its important to note that "Property prices are up more than £12,000 compared to this time last year, and well above pre-pandemic levels (+£46,403 vs March 2020). "

I suspect there will be bigger falls yet still to come as well

It’s very weird the font thing and it’s telling @DeadHouseBounce is not responding my post….

Deadhousebounce is so transparent!

You can well imagine the misogynistic bollocks being spoken over there. It breaks their hearts women have financial freedom

That sound like a foolish idea to me but up to them.
@freyamay74 -what makes you think that prices will rise again (in real terms)?

@Soothsayer1 horrific image!

Last sighted at 17.09 on another thread, hes given up on you lot, youre all doomed 🤣

"A house is always a good investment"

No, overpaying for a house with debt and than having interest rates go up is a very very bad investment.

verysorry
verysorry
I shouldnt have been so direct!😶

... and paying rent is no investment at all which is obvs why you're so bitter about us home owners

no!
the bad investment was the purchase of the WRONG type of crystal ball (*or other divinatory tool) with which to read the future upon which the decision to invest is made

"And in the meantime they will have benefitted from having extremely low housing costs."

With a huge debt attached. Not much to aspire to is it?

A trained monkey with a light bulb could have told you interest rates were going to go up, LOL.

Why so bitter @DeadHouseBounce ?

Your rent been hiked up again?

And a trained monkey could tell you house prices will rise again eventually.
It’s called Inflation. Rents will rise too, sorry about that.

@Soothsayer1,
I imagine @DeadHouseBounce will have a mega pleasure session when a 0.5 interest rate rise is announced later.

If he goes at it hard enough he just might momentarily forget that his rent has gone up by multiples of that!

Not really. A trained monkey would keep doing the same thing again and again without any thought (or in this case thinking the same thing again and again).
Asset price inflation is different to CPI. It's not even included in this measure.

Whether or not anyone agrees with what DHB/ HPC bunch are saying (no one else does), you two sound like a pair of play ground bullies, @Soothsayer1 and @freyamay74
Can't you disagree or ignore like a pair of adults?

And a trained monkey could tell you house prices will rise again eventually.

I agree but I think it will be years & the gains will be much lower. However I think that's a good thing, as a homeowner.

People keep referring back to crystal balls, again do actuaries/loss adjusters/risk managers have crystal balls? No they refer back to past data compared to current environments to plan for probable outcomes.

I’ve said this before several years ago, but ‘buying a house’ is largely the only asset that people ‘choose’ to generally ‘invest’ in (pensions are generally managed elsewhere). It becomes a very personal, emotional attachment (which should never happen with assets when judging by value).

I’ve repeated this since the frothy stamp duty holiday highs, but will do so again. This wider financial environment we face today has not been seen since the 1970’s. We haven’t even begun to tread down this path yet. It will take a lot of adjustment.

House prices are linked to debt not inflation, and debt is going to get expensive. This is not going to change any time soon (most likely the decade).

If a home is a home then it’s not an issue (as long as you haven’t over leveraged). As a financial ‘asset’ however it should be treated entirely differently just the same as any other investment class in relation to their economic macro environments.

Very good point, well made

@Lightscribe and they repeatedly get it wrong.

past performance is an indicator of future performance providing the government doesnt stick its oar in. Which it does. Regularly.

Blame it on what you like. Covid, Putin etc etc.
At the base of it all is that 80% of the global reserve currency was printed in the last two years.

That’s beyond any ‘props’ or intervention by the government as its a global issue. Macroeconomics leads the way, (hence treasuries and gilt yields) and central banks respond accordingly, that is their remit.

Inflation is now here and it has to be dealt with, otherwise the government defaults. House prices and a small proportion of an over leveraged, mortgaged younger generation doesn’t come into it, it’s just an unfortunate casualty.

I'm positively salivating at the thought of interest rate rises, I own my own home outright and could potentially live off of the interest on my savings if it went up to a proper amount like 5%

Interest rate rises are certainly better than the alternative (which is pretty much crashing sterling). I have a mortgage, but I think it's a bad thing for our economy that rates have been so low for so long.