The Past

The past is a foreign country: they do things differently there.

L. P. Hartley   1895-1972 

Friday, 29 July 2011

House prices

A walk into the local town centre this morning had me in an idle moment looking into the windows of our estate agents and perusing what homes were on offer.

Prices in theory may be stabilising in the UK but in this area of Lancashire they are plunging fast - terrace houses worth £95000 a year ago are being offered at £80000 and less - the same applies to other houses - semi detached once £150000 now selling - if that is the right word - for £120000.

One notices that in the town many houses have been on the market for years - no sign of much market activity.

Where is will all end is uncertain - it would appear that prices could drop even further.

In the UK in recent years our economic boom has been sustained by a constant rise in house prices - not the best way to run an economy . Growth should be sustained by manufacturing and agricultural output not by the manipulation of the housing market and the creation of paper wealth.

That's it - my thoughts of the day.


1 comment:

J_on_tour@jayzspaze said...

The way it used to be before Estate agents ruled the world and held people to ransom by dictating what they think people can afford.

Penguins - move your cursor and take them for a walk !!

Say it as it is ......

Shoot for the moon, even if you miss, you'll land amongst the stars.

Look around !!!

What is this life, full of care,

We have no time to stand and stare?

W. H. Davies  1870-1940