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[Lizzie_Zoom]

Yep thats right. 

They were so over inflated, my economics lecturer said how retarded it was that for the money to buy a terraced house in the centre of Dublin you could buy a beach house in Malibu 

Yep, that shows the perverseness of a system that supports the belief that one should buy a house for investment purposes rather than to live in.

Rather it shows the perverseness of a country being saddled with an excessively low (ECB) interest rate and being able to do absolutely nothing about it. 

Perhaps Nick, but the fundamental remains:  Houses are for living in - not for investment or the desire to profit at all costs. (In my view)

In the first instance that is true, but given that homes are purchased by those that have been fairly rewarded for their labour there is no reason why their investment should not grow which produces further return on their work and an ever improving status.  If all homes had limited value, or perhaps none at all (given that all property is theft through some eyes), the incentive to work to better your family and oneself would not exist, and a lot of people connected to property development would be out of work.  In addition who wants to live in homes that all look the same and are of basic design?   

[Banjax]

If we all built each others houses based on peoples value to society then doctors, nurses, police, firemen, soldiers would live in mansions whilst footballers, politicians, bankers and celebrities would live in huts.


True story.
 

[Dishevelled Den]

Yep thats right. 

They were so over inflated, my economics lecturer said how retarded it was that for the money to buy a terraced house in the centre of Dublin you could buy a beach house in Malibu 

Yep, that shows the perverseness of a system that supports the belief that one should buy a house for investment purposes rather than to live in.

Rather it shows the perverseness of a country being saddled with an excessively low (ECB) interest rate and being able to do absolutely nothing about it. 

Perhaps Nick, but the fundamental remains:  Houses are for living in - not for investment or the desire to profit at all costs. (In my view)

In the first instance that is true, but given that homes are purchased by those that have been fairly rewarded for their labour there is no reason why their investment should not grow which produces further return on their work and an ever improving status.  If all homes had limited value, or perhaps none at all (given that all property is theft through some eyes), the incentive to work to better your family and oneself would not exist, and a lot of people connected to property development would be out of work.  In addition who wants to live in homes that all look the same and are of basic design?   

the incentive to work to better your family and oneself would not exist

That does undoubtedly happen Lizzie however would the content of the individual – their drivel, determination and so on - not help to surpass that inclination?

Many people in rented accommodation private or otherwise are just as motivated to better their conditions even though they may never have any tangible benefit in terms of being able to own their own home.

The materialistic emphasis on the way many of us live today has put some into financial distress - none more than those who struggle to pay a mortgage on a property valued far in excess of its true worth.

The hype (and desire for profit) generated by those in property development and sales has partially created this disparity in property value to the extent where many who would like to own their own home can't because of the cost.

In addition who wants to live in homes that all look the same and are of basic design?

Again, I can see that but there should be nothing to demand an imaginatively designed property to be priced at a point that seeks to extract the maximum profit from it.

[Nickbat]

Again, I can see that but there should be nothing to demand an imaginatively designed property to be priced at a point that seeks to extract the maximum profit from it.

Houses are priced at levels the market can bear. It is set purely by demand. The last three decades or so has seen a huge rise in UK population, but house supply has not kept pace. Demand exceeds supply. Simples.