Serious question

[Georgiesmum]

How long, if ever do you think it will be before this country gets back on its feet again? It doesnt seem to me as if we are making much progress at all at the moment.

[Sqad]

" Back on it's feet"

You mean house prices doubling in a period of 10 years.

Banks lending more than 100% mortgages.

Full employment.

Pension values returned to their past values.

Interest rates for savers......at least 10%

I would guess........2 generations.........40 years.

[cazzz1975]

house prices are unrealistic and have been for years

[NOX]

It tends to go in generational cycles- so not ahead of the next 12-20 years imho.

[petal54]

doom & gloomy witha few blips,should level out,not so many peaks & troughs

[bigbadmarty]

Why would anyone want house prices to double in 10 years ?

[Sqad]

bigbadmarty............to make a tidy profit.

[EDDIE51]

Possibly as long as 10 or 20 years , house prices are at the root of it and they are far too high. Everything stems from housing price and it has to fall a long way before we will see much improvement. I know this is not what property owners mortgage payers want to hear but it is unfortunately true.

[bigbadmarty]

we all like to make a tidy profit but once the price is out of reach of most people
the market stagnates , the construction industry suffers and people are left with negative equity .

still as long as you've got your tidy profit , who cares ?

[craft1948]

I feel very sorry for young people today who are trying to get onto the property ladder. It was bad enough when I was young but it looks nearly bloody impossible now....................

[Sqad]

bigmarty

No ! no!..with house prices doubling, the bank will lend the money and the "negative equity" bit only comes in when house prices start to fall.

With house prices doubling we all have our "tidy profit."

[ChuckFickens]

"With house prices doubling we all have our "tidy profit.""

Apart from the problem that nobody would be able to afford to buy a house for the first time.

[bigbadmarty]

I can sympathise with your position sqad , but its got to end somewhere hasn't it . Salaries would have to also rise at this expotential rate , the price of goods and services would have to rise to pay the salaries , imports would take over , people would be out of work and we're all back to square one .

[Sqad]

Chuck.....when the house market was booming, first time buyers were given 100%mortgages by the banks and we never heard of the plight of the first time buyer.

Now, the first time buyer is in trouble, in an environment of FALLING house prices.

[Sqad]

bigbadmarty....yes......I agree.

[albaqwerty]

neither a borrower nor lender be.

If you must borrow, make sure you have the wherewithal to repay it.

A house bought in 1970, valued at 30K, appears to be worth 100k (for example) in 1990. Imaginary figures. The home-owner (snort, not really unless they paid cash) has equity of 70k, they borrow against an imaginary 70k.
I despair at times, I really do.