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House prices
Jul. 28th, 2005 09:11 amAccording to Radio 4 this morning, this month is the first time in 9 years that house prices have increased less than salaries. Presumably they're referring to averages.
However, what this means is that for every other month for the last 9 years, houses have become less affordable to the 'average buyer'.
Now I new house prices were getting silly, but really. Is that what this government sees as 'good' for the economy? Oh I appreciate that the established buyers are now chuckling over their foresight in acquiring an asset that's become more valuable, but there's a limit.
And the limit is when you don't have new buyers entering a market, then it stagnates. That's not a good thing surely?
However, what this means is that for every other month for the last 9 years, houses have become less affordable to the 'average buyer'.
Now I new house prices were getting silly, but really. Is that what this government sees as 'good' for the economy? Oh I appreciate that the established buyers are now chuckling over their foresight in acquiring an asset that's become more valuable, but there's a limit.
And the limit is when you don't have new buyers entering a market, then it stagnates. That's not a good thing surely?
