What do you think about the House prices?

Question

I think they are shocking and can't understand how young people can afford to establish themselves. I read that the average price on a house is £ 1,7 mill. Shouldn't anything be done about this? What about those who are single or dependent on one income?

Sorry I meant £ 170,000

Answer 1

whilst people feel that they need a better or bigger house we will continue to have high house prices. stop paying these prices and perhaps common sense will prevail and the price drop to a fair one.

Answer 2

I agree - I have friends who have loads of savings, a very good income but can't afford to buy anywhere but a bedsit without mortgaging themselves up to the hilt. And then if they did that, if interest rates rose even slightly, so would their mortgages and they probably would not be able to keep their homes. Actually, I imagine people have already done this and it is very scary. We were lucky by buying 6 years ago but we are still right at the top of a mortgage we can afford - don't know how people do it. I really don't know what can be done, as you can't mess with the market now that people have bought first homes at such high prices (and mortgages) but I think more, affordable homes need to be built. One and two bedroom houses that single people or young couples without children could start out in. But where? No-one wants new homes near them and there isn't an infinite supply of land! It's a conundrum!

Answer 3

The first question you should be asking yourself is """""who owns and runs the world""""",when you have the answer to that? you will then know why house prices are so high?
everyone of us is controlled,houses prices are only high until the war is over,then it will all come crashing down,its called divide and conquer,take of your rose tinted specks,when you read the news look beyond the story,because that story is very different,we will save you a penny on income tax,yer right,no where for your kids to eat/ live/work/£30,000 a year is not really a bad salary,but try and buy a house? the advancement would be only at 3.5 times your salary £105,000/5 times your salary is £150.000 advancement,so how many people earn £30,000 per year,and how many houses are in the £105,000 bracket,or £150,000 bracket.yes something can be done about it? but the whole of your life would have to change? and I'm sorry but nobody is ready for that kind of change,only the rich survive the poor suffer,as always been and always will be.if you vote you are the problem,one thing we as humans are very well adapted too,and that's pissing in our own drinking water,then complaining."""""the banks run the world""""oh lol happy new year to you all

Answer 4

This is how and why the housing market will soon crash. Right now there is not one place to see what all is for sale and there are more and more homes coming on the market each day. There is not just one MLS or a complete list so buyer are left in the dark as to what is relay for sale

This is how they shorted the market and drove up price by creating a false shortage there by bring in even more investors and shorted the market even more. So now we have a bubble the is crashing.

One day soon there will be a mandatory and publicly assessable MLS, so the market can no longer be shorted.

http://www.breakingbubble.com/index.htm....

Answer 5

I agree, house prices have gone through their roof. While there is a demand however what can anyone do? The `first time buyers` range are being bought by property developers for private rent, of which a lot are being rented out to Eastern European migrants. (they are where I live anyway) I don`t honestly know where everyone is going to live soon. The government can`t keep building new houses `cos there isn`t going to be any land for it, unless they build more on greenfield, (which would be criminal!) but where does it stop?

Answer 6

Yes, it's a bad situation. House prices are increasing faster than inflation, meaning they become less and less affordable to first-time homebuyers. All I know is that in the US, there are government programs available which offer good interest rates and grants to pay your closing costs. Perhaps the UK offers something similar? I wouldn't know because I lived there through age 21 and never bought a home there.

Answer 7

Well it sure is high. What the banks etc are doing now is offering 5-6 times the salary so that means people can buy. Butu man is it hard.......alot of people are being forced out of areas though. What I don't think is being considered at all is that all of this is contributing to a 'debt' culture. Eventually we will all owe so much money without the abilty to pay it back and the cuntry will collapse.......nice thought

Answer 8

House prices are not the problem its the shortage of land - you can still build a traditional property for less than £100k. I remember when the £10,000 semi was predicted and we all scoffed.
The finance schemes have expanded to accommodate the inflated prices and it will end in tears when the next downturn happens. We can expect the mortgage terms to be extended as well like the Japanese who have extended terms and the children inherit the mortgage.
Happy New Year to you all.

Answer 9

I agree. The realtors have jacked prices up out of proportion for the last thirty years. It's criminal. This is what happens when a society learns to depend on their credit cards.

Answer 10

house prices are a bubble ...and. like all bubbles, it will burst. Just wait.