House prices fell at their fastest annual rate in 14 years in August, according to the Halifax building society.
    • Dojan@lemmy.worldEnglish
      13·
      1 year ago

      So they still haven’t fallen enough.

      Another case of you’ll own nothing and be happy. Kids these days wanting to own a home and feel secure? Ungrateful spoiled brats.

      • Aux@lemmy.worldEnglish
        41·
        1 year ago

        You should keep in mind that decent homes are not in the market right now. What is being sold is mostly just dilapidated crap. This creates an illusion that housing prices are going down, but they’re not. We will only be able to draw any conclusions once mortgage rates become more affordable. There’s a huge possibility that if tomorrow rates will drop to 2021 levels then we will see that house prices went up and it will be a huge spike.

    • tal@kbin.social
      11·
      1 year ago

      But that’s nominal prices. Inflation has been severe since the COVID-19 pandemic started. Can’t disregard that.

      https://www.in2013dollars.com/uk/inflation/2020?amount=100

      £100 in 2020 is equivalent in purchasing power to about £125.60 today, an increase of £25.60 over 3 years. The pound had an average inflation rate of 7.89% per year between 2020 and today, producing a cumulative price increase of 25.60%.

      That makes the nominal increase a decrease in real terms.