When/Will house prices cool down?
Discussion
It’s funny that people comment on wage inflation.
In my line of work (not niche) basic salaries are actually dropping as there is a shortage of new roles from restructuring at the large companies in this area and so people are taking the lowest salaries on offer. ‘Flexible working’ is being touted as a benefit here despite everyone only really having a 15-20min commute anyway and every employer offering it.
Salary review is in March and I’m expecting yet another paltry 1.5% increase....
In my line of work (not niche) basic salaries are actually dropping as there is a shortage of new roles from restructuring at the large companies in this area and so people are taking the lowest salaries on offer. ‘Flexible working’ is being touted as a benefit here despite everyone only really having a 15-20min commute anyway and every employer offering it.
Salary review is in March and I’m expecting yet another paltry 1.5% increase....
pb8g09 said:
It’s funny that people comment on wage inflation.
In my line of work (not niche) basic salaries are actually dropping as there is a shortage of new roles from restructuring at the large companies in this area and so people are taking the lowest salaries on offer. ‘Flexible working’ is being touted as a benefit here despite everyone only really having a 15-20min commute anyway and every employer offering it.
Salary review is in March and I’m expecting yet another paltry 1.5% increase....
Indeed. Wage inflation seems very sector-specific and may well not continue, not least because the balance will tip more towards automation. Almost all public sector wages have been losing real-terms value steadily for 13 years. In my line of work (not niche) basic salaries are actually dropping as there is a shortage of new roles from restructuring at the large companies in this area and so people are taking the lowest salaries on offer. ‘Flexible working’ is being touted as a benefit here despite everyone only really having a 15-20min commute anyway and every employer offering it.
Salary review is in March and I’m expecting yet another paltry 1.5% increase....
E63eeeeee... said:
pb8g09 said:
It’s funny that people comment on wage inflation.
In my line of work (not niche) basic salaries are actually dropping as there is a shortage of new roles from restructuring at the large companies in this area and so people are taking the lowest salaries on offer. ‘Flexible working’ is being touted as a benefit here despite everyone only really having a 15-20min commute anyway and every employer offering it.
Salary review is in March and I’m expecting yet another paltry 1.5% increase....
Indeed. Wage inflation seems very sector-specific and may well not continue, not least because the balance will tip more towards automation. Almost all public sector wages have been losing real-terms value steadily for 13 years. In my line of work (not niche) basic salaries are actually dropping as there is a shortage of new roles from restructuring at the large companies in this area and so people are taking the lowest salaries on offer. ‘Flexible working’ is being touted as a benefit here despite everyone only really having a 15-20min commute anyway and every employer offering it.
Salary review is in March and I’m expecting yet another paltry 1.5% increase....
E63eeeeee... said:
pb8g09 said:
It’s funny that people comment on wage inflation.
In my line of work (not niche) basic salaries are actually dropping as there is a shortage of new roles from restructuring at the large companies in this area and so people are taking the lowest salaries on offer. ‘Flexible working’ is being touted as a benefit here despite everyone only really having a 15-20min commute anyway and every employer offering it.
Salary review is in March and I’m expecting yet another paltry 1.5% increase....
Indeed. Wage inflation seems very sector-specific and may well not continue, not least because the balance will tip more towards automation. Almost all public sector wages have been losing real-terms value steadily for 13 years. In my line of work (not niche) basic salaries are actually dropping as there is a shortage of new roles from restructuring at the large companies in this area and so people are taking the lowest salaries on offer. ‘Flexible working’ is being touted as a benefit here despite everyone only really having a 15-20min commute anyway and every employer offering it.
Salary review is in March and I’m expecting yet another paltry 1.5% increase....
That being said, talk is the company I am with now are losing people to local rivals paying 30% more. Certainly our company hasn’t seen inflation level wage increases for at least 5 years. That comparing against official inflation, not even starting to think about real level.
Flip side, I know of a business who recently hired back someone, who had left of their own choice pre-pandemic to work in another industry. They wanted to return, discovered the grass is not greener etc, but they would only come back for 25% over what they were getting 2 years ago. No choice but to pay it either, there’s not a bounty of talent out there despite that industry seeing massive redundancies through the pandemic.
ozzuk said:
I'm not sure he even believes it himself, it is more promoting their agenda. One of them (Crashy_time) posts on MSE, every house value/sale thread that it is the worse time, it is just to try and affect the market. I was forever calling him out, the best was he predicted 30% fall due to covid, I countered they would rise - we may see stamp duty holiday, people would be sick of being in same house and want to move - realise value of garden space etc, interests rates too low for savings/stock market volatile meaning people would look at property. And I was right, but he still says don't buy property.
Sunk costs is such a powerful thing. I do it all the time and even when I know I’m doing it, the temptation to see the initial bet through is compelling. Roaringopenfire said:
Absolutely depends where. And for as long as demand outstrips supply it seems unlikely there will be a crash in they way there was in 2008 and 1993.
There wasn't a crash in 2008, just a minor blip followed by a stagnant, sluggish market for a few years before the QE/ZIRP washed through the system and took effect.mike74 said:
There wasn't a crash in 2008, just a minor blip followed by a stagnant, sluggish market for a few years before the QE/ZIRP washed through the system and took effect.
Many areas outside of London crashed by 25%. Back then I had just graduated, and the houses around where my parents lived dropped by 30% in some cases and didn’t recover for a few years. Fundoreen said:
well they cant sell those flats in battersea that they built the tube extension for. Probably due to china being in a strop at the moment.
Like this one? Blooming eck at the price https://www.zoopla.co.uk/for-sale/details/60139018...
nick30 said:
Could be worse..https://www.rightmove.co.uk/properties/106574207#/?channel=RES_BUYThey're s
te. The whole place is ste. nick30 said:
Fundoreen said:
well they cant sell those flats in battersea that they built the tube extension for. Probably due to china being in a strop at the moment.
Like this one? Blooming eck at the price https://www.zoopla.co.uk/for-sale/details/60139018...
https://www.zoopla.co.uk/for-sale/details/60111293...
nick30 said:
and they don’t mention the service charge which I’m guessing is significant. Pool, gym and 24 hour “concierge” can’t be cheap surely…?nick30 said:
18M and you get bog standard, black railings internally. I know it's location location location but the internal finish on that place does not look like 18M's worth !juice said:
18M and you get bog standard, black railings internally. I know it's location location location but the internal finish on that place does not look like 18M's worth !
Location isn’t really that great, I’m not sure what the fuss is about. You could buy some seriously nice prime zone 1 freehold property for the price of that flat. Only the Chinese / russian will buy that garbage.I bought my first house last September work colleague at the time said I'm waiting for the crash next year when people can't afford mortgages houses get defaulted on. Rollon a year house prices are 10-15% higher than what I paid and less stock around.
Like the stock market time in the market beats timing the market.
Like the stock market time in the market beats timing the market.
MG CHRIS said:
I bought my first house last September work colleague at the time said I'm waiting for the crash next year when people can't afford mortgages houses get defaulted on. Rollon a year house prices are 10-15% higher than what I paid and less stock around.
Like the stock market time in the market beats timing the market.
I dunno.Like the stock market time in the market beats timing the market.
UK net migration is down, and domestic birth/death rates don’t require loads more housing.
Supply is going to boom at some point in many areas... that’ll lead a crash.
BUT, build back green yadda yadda.
Handy we now have COP26 b
ksy balls... rip anything over 25 years old and at risk of losing value, and build back something shiny and new with borrowed money “because environment” and then sell it on as new and shiny and cheaper to run... (despite most being banded loads higher on council tax)Mr Whippy said:
I dunno.
UK net migration is down, and domestic birth/death rates don’t require loads more housing.
Supply is going to boom at some point in many areas... that’ll lead a crash.
BUT, build back green yadda yadda.
Handy we now have COP26 bksy balls... rip anything over 25 years old and at risk of losing value, and build back something shiny and new with borrowed money “because environment” and then sell it on as new and shiny and cheaper to run... (despite most being banded loads higher on council tax)
I can't see it leasing to a crash, more like it'll sort the wheat from the chaff in terms of desirable properties. Much like the London exodus hasn't really crashed the London market: just the price of flats in some areas.UK net migration is down, and domestic birth/death rates don’t require loads more housing.
Supply is going to boom at some point in many areas... that’ll lead a crash.
BUT, build back green yadda yadda.
Handy we now have COP26 b
ksy balls... rip anything over 25 years old and at risk of losing value, and build back something shiny and new with borrowed money “because environment” and then sell it on as new and shiny and cheaper to run... (despite most being banded loads higher on council tax)mwstewart said:
Mr Whippy said:
I dunno.
UK net migration is down, and domestic birth/death rates don’t require loads more housing.
Supply is going to boom at some point in many areas... that’ll lead a crash.
BUT, build back green yadda yadda.
Handy we now have COP26 bksy balls... rip anything over 25 years old and at risk of losing value, and build back something shiny and new with borrowed money “because environment” and then sell it on as new and shiny and cheaper to run... (despite most being banded loads higher on council tax)
I can't see it leasing to a crash, more like it'll sort the wheat from the chaff in terms of desirable properties. Much like the London exodus hasn't really crashed the London market: just the price of flats in some areas.UK net migration is down, and domestic birth/death rates don’t require loads more housing.
Supply is going to boom at some point in many areas... that’ll lead a crash.
BUT, build back green yadda yadda.
Handy we now have COP26 b
ksy balls... rip anything over 25 years old and at risk of losing value, and build back something shiny and new with borrowed money “because environment” and then sell it on as new and shiny and cheaper to run... (despite most being banded loads higher on council tax)Gassing Station | Finance | Top of Page | What's New | My Stuff