House prices are way too exspenive

House prices are way too exspenive
I live in the United Kingdom, in this country house prices are now over 700% of average wages. I think this is an unsustainable housing bubble that is propped up by a interest rate of just 0.25% and when the bubble bursts the economy will go into a recession that has never been seen before. It is not just in the UK where a housing bubble has formed but in every western country and even worse countries in the third world are starting to increase house prices.

Citation for wages to house prices: https://www.theguardia...lary-official-figures-ons

Agree

Shortie

I agree!

I completely agree with you. I live in the United Kingdom and even in the small town I live in house prices are extortionate. In my honest opinion I believe that if house prices were not as high as they are more people would be able to get onto the property ladder and own their own home without fear of ending up bankrupt from doing so.

I personally could never purchase my own home right now as it stands and I instead opt for rent over owning.

It would be nice to see one day house prices drop however with the way things are nowadays I believe it would be a miracle if we did.

Posted by Shortie on 05-18-2017
centurion

House prices are too expensive.

Hello Have a wonderful day.

House prices are too expensive in this third world its true. But now in this world 2 types of property can not be sold out for the clever ones. Like land and gold. If you have land you can develop the land property by developer. This is the good way to decrease the rental price. Now a days if you are near to the city or enter on the city than it will be better to think about flat or apartment. Or if you have huge land you can talk to any developer and you can become owner of huge flats or apartments. If you have same minded friend and if they are all rich including you than you all can make a plan for high rise building with apartments and flat facility.

Thanks Centurion

Posted by centurion on 05-17-2017
wikifarmer

In my country too

Agreed, House prices and real estate has been steadily rising in the part decade, In my country, a lifetimes savings will not be enough to purchase a house with two bedrooms, this situation has made it impossible for middle class people to afford a house.
Posted by wikifarmer on 05-19-2017
Jonathan Solomon

Very true!

Real estate as a whole has become expensive. In the United States, if you are buying/renting in any of the major metropolitan areas, your pockets are going to hurt.

Personally, the last job I would want right now is being a real estate agent. From having to sell a high-rise apartment in New York City to 5 a bedroom, 3 bath-type home in Southern California (Santa Monica, Huntington Beach, San Clemente, etc.). Houses and mortgage interest are ridiculous nowadays.

Posted by Jonathan Solomon on 05-17-2017
AlexHarris

Yeah they are expensive in Western Countries

While I 100% agree with a property being ridiculously expensive compared to two generations ago, if you just look in other countries where you can get more for your buck you can find a way to thrive. That is assuming you don't mind moving a bit out of your comfort zone to buy something affordable. I hope in the future something is done about it, but I doubt it since humans will forever be a slave to greed.
Posted by AlexHarris on 05-17-2017
kingrichez

I need house prices to drop

House prices are too high and I am hoping these prices drop, so I can acquire more property.
Posted by kingrichez on 05-17-2017
Rutpan

Time For Price Drop

Yes I do accept the fact that House prices are way too expensive and it is almost a time where in we should see a price drop but as per my knowledge it may not happen so soon. Been living in India which highly populated as per census it is very hard for common man cannot afford to buy it. But to a some extent and with the help of some government schemes yes it is possible to buy a homes. But coming back to the point the price remains the same which is costly and will hurt your pocket.
Posted by Rutpan on 05-17-2017
JeffHart

I have to agree.

The prices for houses in the middle median has definitely increased. Combine that with the inflation of property taxes. I don't see the benefits in owning your own home like in the 1980's.
Posted by JeffHart on 05-18-2017
WildSpirit

Yeah! :-(

In general, I have to agree to this. Prices are getting more expensive, and only seem to increase more and more over time.

However, one aspect that must be considered to "accept" this price, is the relevance and quality that houses usually have... I mean, they are not expensive just because the sellers want it.

Posted by WildSpirit on 07-23-2017
DenisHero

Almost impossible to afford a house

With current prices,I am afraid I will never have the money to buy myself a house.Living on rent whole life is awful. We just have to hope that changes will be made.Every house seller should firstly think of how a modest young couple can afford a living place,up to 100-150.000$. Nearly impossible without borrowing money from a bank and pay twice or threefold the amount received over years.
Posted by DenisHero on 07-15-2017
Marvadaum

Yes

I think that the real estate market takes advantage of the fact that everyone wants to own their own home and inflates the prices. Plain capitalism
Posted by Marvadaum on 09-16-2017
wiseagent

Yes.

Although the price to be fixed depends directly on several different aspects (I guess it's a tricky field), I agree that the values ??are relatively above average. but I do not particularly care about it because I'm from the apartment team
Posted by wiseagent on 09-16-2017
Soulwatcher

they are insane!

When I was a kid $30k bought you a really nice house in a nice area. These days $30k will buy you a run down to the ground house in a poor area. The only way your going to get a halfway decent house these days is if you have $250k+. And sadly most people I know don't have that kind of money!
Posted by Soulwatcher on 10-13-2017
Wubwub

it will only get worse

This is just the natural trajectory and I'm sure decades ago smarter people have already predicted this but I guess it is just how it was always bound to be. The sad part is that it doesn't seem like prices will ever lower again and if it will then I can't imagine how. Myself, if I were to buy a house I'd probably just go somewhere more remote but I can't stand not being in the middle of the city.
Posted by Wubwub on 11-17-2018
Focusedwriter10

Very True

This is not only happening in the UK but in most countries. I live in Kenya, and real estate developers have taken this an opportunity of overpricing houses.

Prices of houses are always way above the wages and salaries of most buyers.

Posted by Focusedwriter10 on 11-09-2018

Disagree

Mahshiemonalisa

really depends on your area

This is truly a matter of the market in which you live or desire to live. The market I am in is highly priced and it's difficult to find a decent "starter" home for a family on a budget. However, I know that in some struggling cities like Detroit you can purchase a house for incredibly cheap. The desirability of the city usually drives the price higher. In general, I believe that $100-$150K would be the perfect range for a small 3 bedroom home in good condition.
Posted by Mahshiemonalisa on 05-17-2017
Barida

Not everywhere.

I think that people that are living in the city are always prone to pay high rent fee and this is different from what we have with those that are staying in some rural areas. One thing that I have come to realize is the need for us to do things that are right.
Posted by Barida on 11-17-2018

Comments

Anonymous
Hello! I have been struggling for a few years to raise some money (at least 50% of the value) to buy an apartment in Romania. The rent is settled to me so I'm not constrained by this aspect. Also, it does not depend on the Prima House program because I already have a sufficient advance and I found a more advantageous loan program (at least for me). What is happening with the price of apartments in the next period, I refer to the period 2017-2018? I notice that the prices have risen initially because the world has gotten to go to the First House and then it would have been easier to lower prices ... at least here in Romania. Is it possible to raise interest rates due to devaluation of the leu? Is it possible to significantly increase the price of apartments?
Posted by Anonymous on 05-17-2017
Corzhens
It is really difficult to purchase your own house when you are struggling with your income. We were renting an apartment for 2 years and then rented a house for 5 years before we were able to take a housing loan from the bank where my husband used to work. That loan afforded us to buy an old house that we refurbished just so we would be saved from the cost of renting. Now we are staying in that house for 17 years now and it is already ours. No more rental costs but we pay the real estate tax every year.
Posted by Corzhens on 11-15-2018
kgord
Home prices are expensive in the US as well, but maybe not to the level they are in the UK. One thing that is ridiculously expensive here are apartment rents. I live in a 3 bedroom average sized home, and a 2 bedroom apartment with significantly less space would be twice as much! No wonder people want to buy!
Posted by kgord on 05-17-2017
vinaya
I live in Nepal. House prices are also way too high in my country. The average house price in the outskirts of the city is around $100,000 for one story house. If you want to buy in the core city, you will have to pay three times that amount. You can get your home financed by a bank, however, you will have to pay 9-12 percent interest, which is also very high interest rate.
Posted by vinaya on 05-17-2017
FatManX
I totally agree with you. House prices are way too high right now. Right now I don't think it's worth it to buy a house. If you chose to buy one you'll be paying a bank for many, many years. I sympathize more with the idea of renting a house. In both situations, you'll be paying monthly to keep the house. But when you buy a house you're stuck in the same spot for years. So, if a better job opportunity in another city pops up you're screwed. But if you chose to rent a house you'll be able to change houses when you want. It's much wiser to just rent a house, for the freedom it gives you. But people love being able to say they own a house. It's part of the American dream after all. But in reality, they don't even really own it.
Posted by FatManX on 05-17-2017
Sino989
I agree, I think houses are a little expensive now a days, especially with the economy and the way it is now. Not a lot of people are making $100,000 a year and can't afford house that are that price. So I think that they are over priced.
Posted by Sino989 on 05-17-2017
Corzhens
I am assuming that this thread is about houses in the US. But here in the Philippines, real estate is also expensive and prices of houses in the market have gone up so high that only a bank loan can buy a home for you. They say that taxes have increased so that is directly connected to the cost of the houses. Besides, materials for construction have also gone up which directly affected the prices of existing houses. I really cannot say that those I mentioned were the real reason for sometimes I think it is still the law of supply and demand. There are more buyers than sellers so the price is going up.
Posted by Corzhens on 05-18-2017
vinaya
I think real estate is expensive everywhere. With my current income, I will never be able to buy a house. I need at least $100,000 to buy a nice house in my country and that is a lot of money.
Posted by vinaya on 01-01-2018
lovely
Really,then this is just way expensive than I thought, gathering this amount to get a home wouldn't be an easy task one would just have to work and toilet so hard to accomplish this, this is rather unfortunate.
Posted by lovely on 03-07-2018
DanoCath
Owning a house or building a house has always been expensive. A house is everyone's basic needs because owning a house will let us find comfort and security. We can only opt to choose between expensive and too expensive houses. However, for privileged and rich individuals there are no expensive houses, but to regular people like me building a house is always expensive.
Posted by DanoCath on 09-08-2017
ColdFlameChris
It will always depend on the location on where will you build your house because there are lands that are more expensive than getting one in any rural areas. If you're planning on building a house in an urban area, might as possible expect that this will definitely cost you a lot. It's always better to build than to purchase a fully furnished home.
Posted by ColdFlameChris on 11-29-2017
lovely
I totally agree with this, in my country houses are just very expensive that you just have to psy through your nose,a small unit of house is just overpriced leaving a lot of people homeless. I think there should be a kind of regulations for house owners
Posted by lovely on 03-07-2018
jaymish
I agree with this, in my own Country house prices are ridiculous. The advantage you have in the Uk is that the interest rate at which you get a mortgage is low. In my country it's almost 14% so getting a house is unsustainable. My brother lives in the UK. The cost of getting a house comparatively with the house prices in other countries where they are bigger houses even with swimming pools, in better areas, costs you less. I agree I don't think the price of housing in the UK is fair. It's to high especially for the ordinary folks.
Posted by jaymish on 11-05-2018