Quote:
Originally Posted by Coatsy
as things stand we have a massive shortage of housing which may well help stop the prices from declining too sharply.
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Damn - forgot about that bit! Yep - sounds right - there is not enough housing on the market (tho a blip will have an ripple) and a long way to go before that market saturates with actual home stock.
This is again different to the US where there is an increasing excess stock of homes available for sale - something like 4-5 months worth in a normal sales environment.
Always been amazed at the level UK homes have risen over the past 20 years - really silly money. Also amazing how little you get for the money. A fairly modest semi in eg Brighton seems to cost about 350K+ ish ($700K) - a normal detached home can cost anything from 450K ($900K) up into the millions. Then there's the maintenace costs and property taxes
The differences in other counties can also hit you in the face - like (forgetting any current home problems) - you can get a fairly good home in the US for $400K - that's only 200K GBP. Here, you can get almost get an estate for the cost of the semi in Brighton - tho that has been changing for a few years, but still buys a lump of home. The other absurdity about here is property taxes are around $100-150/year - they would not even move your garbage for that money in the UK
