House prices are on the up

Well, apparently, the BBC website says house prices are on the rise. I'm actually seeing certain houses finally selling in my street, so I know there must be some truth to this. This would be the first house price rise ever, in the midst of a recession. Houses are going up in value, because demand is pent up. Everybody wants to own their own property. In the same way people will stretch their finances and take out loans for expensive cars and clothes, they will happily take on a big loan for a property of their own. As soon as the banks start to ease their lending restrictions, there will be a horde of buyers pushing the price up even more.

The reason prices are rising, is that there are not that many houses to buy in Britain as land is scarce, unlike America. Property will never go out of fashion in Britain. In the UK, the drive to own property is all-consuming, and defies the logic of economics. House prices in England will always be expensive  simply because everybody wants one, and there is not enough to go around. In spite of this, I think it's quite a small price rise, and to me it points out that the market has stabilised. This is the bottom of the market. All we need now is for more people to put their homes on the market, enabling moneyseeker3000 to have a better choice when adding to the portfolio.

This must be the shortest recession ever. The bankers are once again getting big bonuses. House prices are rising. Interest rates are low. There's great shopping deals in the high street and on the internet. Financially, for me this has been my best year ever. I've saved up  many thousands of pounds more into my bank accounts, and I'm now monitoring the property market to buy investments that meet my criteria.

Hate it or love it, house prices are on the up, proving that even in the worst financial crisis the world has ever known, property is the number one asset class.