Original broadcast (Uk): Tuesday tenth August 2010, 10am-12pm, BBC Radio five Dwell. Stephen Nolan discusses Royal Establishment of Chartered Surveyors (RICS) report that United kingdom property costs are falling. Yet again. News source: www.bbc.co.uk [forty five:14 - 54:34 of 01:11:fifty two] Element 5 00:00 – 00:45 : Introduction. 00:forty five – 01:40 : Caller – Matt, Hertfordshire (Purchased house which is now well worth more than when he bought in 2009). 01:forty – 09:20 : Caller – Dave, Newcastle On Tyne (The amazing “lifecycle of a bubble” residence investor).
Video clip Ranking: 5 / 5
Tags: 10/08/2010, House, Live, Part, Prices
I think dave made alot of people at home shit? there pants lol
Dave’s correct yes but he’s very arrogant .. the mass media use scandalous scare tactics to dupe people into buying &? if you’ve got nowhere you get worried you’ll miss the boat forever
He also says you don’t buy from Estate agents Or Auctions … where do we buy then Dave … from you ??
The presenter should listen to Dave – everything he says is spot? on.
UK house prices are totally? overvalued the average yearly salary ratio to average house price is at 6.9 whilst the historical ratio is 3.5. Absent of government and Central bank intervention, we would be at this ratio already which would be a GOOD thing! All this intervention in the housing market is just temporarily delaying the inevitable reality. All I say is LET the market function clear out the bad mortgages so that in the future we’ll have high house prices based on SAVINGS not CREDIT!
There has been massive? increase in UK house prices over the past 15 yrs – on the demand side this was driven by an increase in the UK population of about 3m people and trend towards smaller family units (a lot more people living alone or in couples). At the same time on the supply side we saw low levels of new units being constructed.
Whilst prices still feel too high the drivers that pushed values up to these levels have not changed.
You don’t need to be Nostradamus to see that the? UK is heading for a major reality check. The economy has been run into ground and the sooner these clowns face up to truth the better.