the problem with prices down
is that many people have really stretched themselves to buy. so if the prices drop, they are screwed. the banks will not write off the difference.
( rachelswipe with a fork, Mon 21 Nov 2011, 11:54, 1 reply, 13 years ago)

Oh I agree.
But surely they cannot go on going up forever, or do I not know what I am talking about? I'm quite open to this, most economics feels like a confusing joke to me.
( CQ Knows the truth, all of it., Mon 21 Nov 2011, 11:56, Reply)

i think the massive rise was probably unsustainable but generally there should be a slow steady increase in line with everything else
my flat went up by over £100k in the space of about a year, and although i had spent a lot on rewiring etc, that is simply ridiculous. mind you, some 3 years later, it's still valued at the higher level, just not gone up any further
( rachelswipe with a fork, Mon 21 Nov 2011, 12:01, Reply)

I think it's the "in-line with everything else"but that has gone wrong.
25 years ago my dad earning, relatively, not much more than I am now could buy a 4 bedroom house for his family. Now this is most definitely not the case. Sadly short of a massive crash in house prices, or a very long term freeze while pay catches up I cannot see this state returning.
( CQ Knows the truth, all of it., Mon 21 Nov 2011, 12:05, Reply)