Nationwide Building Society August 2020 House Price Index Nationwide Building Society August 2020 House Price Index
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  1. #1

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    Default Nationwide Building Society August 2020 House Price Index

    Key points:

    - House prices recover from recent dip to reach new all-time high in August

    - Annual house price growth picked up to 3.7% in August

    - Prices up 2% month-on-month, after taking account of seasonal factors, as momentum builds

    Full report here:

    https://www.nationwide.co.uk/-/media...0/Aug_2020.pdf

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    Great news, here's hoping record rises are the new normal. Hopefully house price charts will make Tesla stock charts look shabby.
    You above all people should know probabilisitic analysis is a stochastic process of independent of deterministic variables subject to constant change....

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    Does it make sense?

    1000's of people losing their jobs. Households are spending less, eating out less. Boomers retiring, Gen-Z fixated on saving. Don't forget the country is just about to TNT all ties with its largest trading parter.

    Does it make even the slightest bit of sense the largest asset bubble in the UK should now further increase?

    If folks paused for a minute to ask those questions you'd release we are about to hit a period of deflation none of us have seen in our lifetimes.
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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    Quote Originally Posted by scooterscot View Post
    Does it make sense?

    1000's of people losing their jobs. Households are spending less, eating out less. Boomers retiring, Gen-Z fixated on saving. Don't forget the country is just about to TNT all ties with its largest trading parter.

    Does it make even the slightest bit of sense the largest asset bubble in the UK should now further increase?

    If folks paused for a minute to ask those questions you'd release we are about to hit a period of deflation none of us have seen in our lifetimes.
    Yes because stamp duty has been reduced which means people are rushing to take advantage of the savings.

    And believe it or not people are stupid enough to spend 5% more over 25 years to save 3% now...
    merely at clientco for the entertainment

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    Quote Originally Posted by eek View Post
    Yes because stamp duty has been reduced which means people are rushing to take advantage of the savings.

    And believe it or not people are stupid enough to spend 5% more over 25 years to save 3% now...
    Houses are always a funny asset class, so very hard to predict which way they'll go and when. You can get a 5 year fix at 1.45% at the moment, so that will also tempt people in, even accepting the risk of price decreases.
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    Quote Originally Posted by eek View Post
    Yes because stamp duty has been reduced which means people are rushing to take advantage of the savings.

    And believe it or not people are stupid enough to spend 5% more over 25 years to save 3% now...
    Let me get this straight... Save on stamp duty now or buy same property with stamp duty after 40% correction. Decisions decisions....

    The folks I feel sorry for are the ones rushing to get a 2-3-5 year deal on a fixed rate believing they are smart only to realise on renewal their property is worth 40% less than when they made the deal. Like a re-run of 2007 all over again, you could set your watch by it.

    Middle classes will get absolutely gutted. But then they voted in a raging loon of a populist, so my pity can only reach so far.
    Last edited by scooterscot; 2nd September 2020 at 11:40.
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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    Quote Originally Posted by Old Greg View Post
    Houses are always a funny asset class, so very hard to predict which way they'll go and when. You can get a 5 year fix at 1.45% at the moment, so that will also tempt people in, even accepting the risk of price decreases.
    Not really - lay house price action over gold price, the relationship is full

    If deflation comes, I'm 90% certain it will, we'll having crashing prices and a BoE losing the fight to keep interest rates low. Can't wait.
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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    Quote Originally Posted by scooterscot View Post
    Not really - lay house price action over gold price, the relationship is full

    If deflation comes, I'm 90% certain it will, we'll having crashing prices and a BoE losing the fight to keep interest rates low. Can't wait.
    Sure thing, poops.


    Quote Originally Posted by Bean
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    Quote Originally Posted by scooterscot View Post

    The folks I feel sorry for are the ones rushing to get a 2-3-5 year deal on a fixed rate believing they are smart only to release on renewal their property is worth 40% less than when they made the deal.
    If you're buying a house to have it as your home, a home that you'll keep for a long time, you don't give a crap about how much it's going to be worth in say 5 years.

    Normal people don't always see everything as an investment in which you absolutely need to have a return.

    People buy houses because they need houses.

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    Quote Originally Posted by PCTNN View Post
    If you're buying a house to have it as your home, a home that you'll keep for a long time, you don't give a crap about how much it's going to be worth in say 5 years.

    Normal people don't always see everything as an investment in which you absolutely need to have a return.

    People buy houses because they need houses.
    Yes and no. There is the opportunity cost of being able to buy it cheaper in a year's time, if you can time the market right...
    Quote Originally Posted by Bean
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