BBC Study shows house prices lower than they were 10 years ago.

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paul514
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I’m really pissed off after seeing this on BBC breakfast this morning.

They said that their research shows that some homes have not kept pace with inflation and in the north east they have dropped 10%

Now they aren’t using wage inflation but just standard inflation aka the increase in prices at checkouts.

As I couldn’t find the data for 2017 yet I looked up 2016 and inflation in that 9 year period was 28%.

So basically these extreme examples showed their house price only grew by 20%!!!

Oh boo boo the thing you brought to live in hasn’t gone up by more than a fifth in the worst example you could find.

Are they living in another planet? Prices are way too high for the vast majority of people under 40 and they made their main story today this!!
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paul514
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I can’t believe no one here cares about this
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username1738683
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The first question people ought to ask is why do the BBC have to carry out such surveys at our expense, the day will come when nobody will be asking any questions at all. Safe areas from that at Uni.

So they have produced yet another social report making the case for the social agenda they peddle, they'll end up accused of political bias at this rate. The media, and the way they distort the picture... that's the lelft-wing methodology all over.

Mate, you're beginning to see it and take it from me... go slow.
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AmeliaLost
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It think it's more complex than that. There are lots of moving parts!

Some of these houses have dropped in value by as much as 50%. Mostly the north and Wales, where property is already very cheap.

As I understand it, the issue with such rapidly falling house prices is live-in homeowners, who pay towards their mortgage thinking they'll be able to trade up eventually, maybe out of the area (e.g. buying something in Kent and hoping to move closer to London) suddenly have their plans scuppered. Obviously falling house prices are usually theoretically good for people who want to get on the ladder, but if house prices in these places are dropping then demand must be falling too; people <30 don't want to live in a tiny Welsh village generally! Current homeowners being unable to move on also dams the supply chain, preventing people getting on the ladder.
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paul514
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(Original post by AmeliaLost)
It think it's more complex than that. There are lots of moving parts!

Some of these houses have dropped in value by as much as 50%. Mostly the north and Wales, where property is already very cheap.

As I understand it, the issue with such rapidly falling house prices is live-in homeowners, who pay towards their mortgage thinking they'll be able to trade up eventually, maybe out of the area (e.g. buying something in Kent and hoping to move closer to London) suddenly have their plans scuppered. Obviously falling house prices are usually theoretically good for people who want to get on the ladder, but if house prices in these places are dropping then demand must be falling too; people <30 don't want to live in a tiny Welsh village generally! Current homeowners being unable to move on also dams the supply chain, preventing people getting on the ladder.
Buying a house for 80k, seriously-lol.

This isn’t the south east only it’s the whole south, east, central, the countryside and I assume at least Manchester and Leeds.
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AmeliaLost
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(Original post by paul514)
Buying a house for 80k, seriously-lol.
Can't tell what you mean by that. You can get an 80k mortgage on 20k a year. Issue is the deposit if you're locked into paying rent.
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paul514
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(Original post by AmeliaLost)
Can't tell what you mean by that. You can get an 80k mortgage on 20k a year. Issue is the deposit if you're locked into paying rent.
It mean it’s stupidly low to the point that it may be cost infective to build.
If there’s no demand because the place is so crap stop building.
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quasa
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(Original post by paul514)
I’m really pissed off after seeing this on BBC breakfast this morning.

They said that their research shows that some homes have not kept pace with inflation and in the north east they have dropped 10%

Now they aren’t using wage inflation but just standard inflation aka the increase in prices at checkouts.

As I couldn’t find the data for 2017 yet I looked up 2016 and inflation in that 9 year period was 28%.

So basically these extreme examples showed their house price only grew by 20%!!!

Oh boo boo the thing you brought to live in hasn’t gone up by more than a fifth in the worst example you could find.

Are they living in another planet? Prices are way too high for the vast majority of people under 40 and they made their main story today this!!

In my area that is utter BS. My parent's house is worth almost 3 times more than it was worth in 2007 due to the efflux of londoners
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