Carl O'Ancelotti
Player Valuation: £20m
Not everywhere. My current property is still worth less than half of it's value in 2007. I also sold one in Liverpool last year for under it's 2007 value.
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orly
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To be fair, that may also indicate they you are terrible at buying property lol
dandydan
Player Valuation: £40m
Do you live in Aleppo?
tsubaki
Player Valuation: £90m
It would absolutely stop the price increase; after all as you said the rise is cause by demand - satisfy that demand and you will very quickly get to the point where prices start to fall.
it wouldn’t, it’d slow it down. Yet it still wouldn’t cause a £450k 2 bedroom apartment to all of a sudden become worth £150k. More housing stock is needed but it’s not reality that house prices will lose 50/60% of their current value, it would cause a financial meltdown if it did
I’m interested to know which area of Liverpool?? I’m going to have a wild guess and say it was a new build
Carl O'Ancelotti
Player Valuation: £20m
A flat near Sefton Park, part of an old house. Still got a lot more than the purchase price in 1997 admittedly, but down on the 2007 valuation.
Some areas and property types have still not recovered from the 2008-13 crash in prices.
tsubaki
Player Valuation: £90m
Why would it only slow it down if the demand was no longer there? Once people know can get good homes for less than what they pay now, house prices will fall to a level at which they become a realistic proposition again. It will probably generate some kind of financial meltdown, yes.
because people move houses and want to progress up the housing ladder, hence the demand for houses will always be there.
financial meltdown = ruining people’s lives. You’d be willing to decrease someone’s property value by a huge percentage and creating a worse situation. Imagine being a 30 year old and then all of a sudden you have £200k negative equity.
roydo
in memoriam - 1965-2024
And down it. In my town, there must have been 8 elderly/retirement apartment blocks built in that last 10 years, plus a dozen non age dependent ones, which are at least 50% elderly owned.
I would guess that most of those have been funded via downsizing. And when those occupants pass on, Bingo, housing crisis/prices solved/fall.
tsubaki
Player Valuation: £90m
You are confusing different types of demand there, though. People will want to move houses, but that requires that they are able to buy them in the first place. The problem now is that people cannot get on the ladder to begin with, which will eventually work its way further up the ladder.
As for the second point, I thought you were claiming that there would be no fall in house prices?
I never said housing prices would fall, i was pointing out that your point would cause serious financial crisis for hundreds of thousands of people
tsubaki
Player Valuation: £90m
er - that has been my point all along; it is the cost of dealing with the housing crisis (and will cost less than if it isn't dealt with)
peteblue
Welcome back Wayne
It is very simple. The price of a house consists on land price, building costs, desirability/location and profit. In the likes of Liverpool or indeed anywhere outside of London, even if you remove the cost of land completely there is still the inescapable cost of materials and building costs. They will not go away. Desirability/location carries a cost and there is no way around it (market forces). Building costs will come up to a minimum £100,000 cost for a small house, and as I say, there is no way around it. So even if we were to build more houses than we ever wanted, there is a minimum cost involved....
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