1. sovietuk said...

"Worst figures in 13 years" . Excellent, with a bit of luck there will be alot more bad news in the next few weeks as interest rates go up, debt defaults increase, stock markets plunge and the general situation deteriorates badly. No doubt the decline will be interspersed by the usual 'Sunny Jim, happy rebounding market' claptrap stories from the BBC.

Wednesday, February 28, 2007 11:19PM

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3. Surfgatinho said...

"David Seiders, chief economist for the National Association of Home Builders, said that the sharp drop in January might have been fed by stronger-than-expected sales in November and December, when much of the country had unseasonably warm weather."
You can always spot the desparation when they start blaming it on the weather!!!

Thursday, March 1, 2007 12:00AM

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5. japanese uncle said...

Spare a minute!

http://www.propagandamatrix.com/articles/february2007/270207trustanything.htm

You can hear a BBC reporter clearly saying WTC7 has just collapsed while the live screen clearly shows the building still standing. What a pathetically laughable error! A monstrous staging of inside job terrorism by those with bearly enough talent to stage a school play.

I believe this evidence was long stored and picked out a few days ago, in response to the pathetic hit piece "The Conspiracy Files 911" aired last week. Sadly the BBC has become a propganda machine in every respect, not least to stage housing boom, but also war on terror.

Thursday, March 1, 2007 03:41PM

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7. little professor said...

Guardian:

Negative
equity fears grow as house prices take record tumble

Fears that the housing market is in freefall were
heightened
yesterday when Halifax reported that house prices tumbled at their
fastest pace on record in the second quarter of the year.

The country's biggest mortgage lender said prices slumped 2% in June
from
May, adding to May's 2.5% fall and April's 1.5% drop. The resultant
5.5% drop for the quarter was the worst since Halifax's records began
25 years ago and far worse than at any time during the housing market
collapse of the early 1990s.

An ICM poll for property website Gumtree showed that 60% of adults
would consider selling up and renting instead if mortgage payments
become unmanageable.

The Telegraph

Slide
in house prices is the worst since the Great Depression

Britain is now in the midst of the worst housing slide
since the Great
Depression, economists declared after house price inflation dropped to
the lowest level since records began.

House prices have never fallen by more than 10pc over a year in
recorded history, except in 1931, when Britain left the gold standard.

David Owen of Dresdner Kleinwort said: "Back then, sterling had been
ejected from the gold standard and the currency collapsed, and,
although this helped exports, house prices collapsed. What we are
seeing now has some parallels with then.

Prof Goodhart at the London School of Economics, said: "Output is
going to fall, unemployment is going to rise, possibly quite sharply.
It's a horrible situation.

 The
money tap turns off, leaving the world in short supply

 House
prices falling at fastest rate since 1990s

Housing
crisis by numbers

Fears
for 100,000 jobs as sector suffers 'worst conditions for 50 years'

 Rising
tide of bad debts will flood over banks

The Times

The
bear tightens its grip as Halifax confirms housing market slump

The stock market sank deeper into the clutches of a bear
market
yesterday as
confirmation of an unprecedented slump in Britain's house prices
inflamed
fears of recession.

A decision by the Bank of England to spurn pleas for an
interest rate cut from 5 per cent fuelled another brutal stock market
sell-off, leaving the all-share index down by a further 2.1 per cent.

Free
car with your new home: slump in housing market brings desperate offers

Forget slashing the asking price, offer a free car instead.
This is
the
approach that a developer in Newquay is hoping will help him to beat
the
sales slump as he tries to sell 65 flats.

Another developer is simply threatening to sue buyers who pull out of
purchasing luxury flats in a £25 million development in Plymouth.

The increasingly desperate measures being employed by housebuilders to
sell
their properties reflect the dire state of the housing market.

The value of a typical home has fallen by nearly 10 per cent, or
about
£20,000, since prices peaked in August last year, raising the
prospect of
negative equity for thousands of homeowners who bought their property
with
little or no deposit.

Economists gave warning that there was worse to come. Michael
Saunders, of Citigroup, the investment
bank, said: “It is fair to say that we are now in the worst housing
slide
for more than 50 years.”

House
prices dive 6.1% in worst fall since 1993

Independent

House
prices post biggest fall in two decades

House prices are almost 10 per cent off last August's peak, the Halifax
said, and have fallen by 8.5 per cent since 31 December. The consensus
is for a further decline of about 10 per cent this year and a similar
one in 2009. The most pessimistic observers expect a 30 per cent fall
by the end of next year, or about 40 per cent when inflation is taken
into account.

Financial Times

Falling
off a cliff in slow motion

What might happen to the British housing market? After a
week of dire
news from specialised mortgage lenders and housebuilders, this is an
obvious question. It also plays directly into the darkest obsessions of
the British, for whom nothing is more important than that houses become
ever more ludicrously expensive.

Fathom Consulting began a bulletin released this week by remarking
sardonically that “as the UK housing market downturn gathers pace, it
is common for analysts and commentators to argue that this downturn
will not be as bad as the early 1990s ... They are probably right. It
looks as though it will be worse, perhaps far worse.” Fathom goes on
to argue that nominal house prices are now falling considerably faster
than in the late 1980s: the Halifax price index is down by 9.6 per cent
since August.

What is the bottom line? It is, quite simply, that a big fall in
house
prices is likely, partly because prices became extraordinarily high and
partly because credit to the market has dried up.

The Herald

Property
values fall faster than in 1990s price crash

House prices fell more steeply last month than
at the worst point of the 1992 housing market crash, latest figures
from Halifax Bank of Scotland revealed yesterday.

The UK's biggest mortgage lender reported that prices fell 2% in
June, effectively knocking £20,000 off the value of the average
home
since last year's peak.

The fall of 8.7% from June 2007 has taken the average UK house price
to £180,334, prompting warnings that Britain is suffering the
worst
housing slide in 50 years.

Despite earlier optimism, Scottish estate agents
warned yesterday that Scotland could no longer expect to stay ahead of
the rest of the UK as desperate sellers continued dropping prices to
shift property.

The prediction follows signs earlier this week that Scotland's
traditionally
better position in the UK housing market was being increasingly
threatened by the credit crunch.

James Whitson, director at Scottish estate agents Rettie and Co,
said: "It's a buyers' market. Supply is on the ceiling and demand is on
the floor. The only way people who want to sell will be able to do so
will be by reducing their prices. We are already seeing prices reducing
every day."

Daily Express

Britain
needs a stamp duty holiday

Friday, July 11, 2008 01:54AM

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9. little professor said...

Still testing :p

Guardian:

Negative
equity fears grow as house prices take record tumble

Fears that the housing market is in freefall were heightened yesterday when Halifax reported that house prices tumbled at their fastest pace on record in the second quarter of the year.

The country's biggest mortgage lender said prices slumped 2% in June from May, adding to May's 2.5% fall and April's 1.5% drop. The resultant 5.5% drop for the quarter was the worst since Halifax's records began 25 years ago and far worse than at any time during the housing market collapse of the early 1990s.


An ICM poll for property website Gumtree showed that 60% of adults would consider selling up and renting instead if mortgage payments become unmanageable.

The Telegraph

Slide in house prices is the worst since the Great Depression

Britain is now in the midst of the worst housing slide since the Great Depression, economists declared after house price inflation dropped to the lowest level since records began.

House prices have never fallen by more than 10pc over a year in recorded history, except in 1931, when Britain left the gold standard.

David Owen of Dresdner Kleinwort said: "Back then, sterling had been ejected from the gold standard and the currency collapsed, and, although this helped exports, house prices collapsed. What we are seeing now has some parallels with then.

Prof Goodhart at the London School of Economics, said: "Output is going to fall, unemployment is going to rise, possibly quite sharply. It's a horrible situation.

 The money tap turns off, leaving the world in short supply




 House prices falling at fastest rate since 1990s




Housing crisis by numbers




Fears for 100,000 jobs as sector suffers 'worst conditions for 50 years'




 Rising tide of bad debts will flood over banks

The Times

The bear tightens its grip as Halifax confirms housing market slump

The stock market sank deeper into the clutches of a bear market yesterday as confirmation of an unprecedented slump in Britain's house prices inflamed fears of recession.

A decision by the Bank of England to spurn pleas for an interest rate cut from 5 per cent fuelled another brutal stock market sell-off, leaving the all-share index down by a further 2.1 per cent.

Free car with your new home: slump in housing market brings desperate offers

Forget slashing the asking price, offer a free car instead.
This is the approach that a developer in Newquay is hoping will help him to beat the sales slump as he tries to sell 65 flats.

Another developer is simply threatening to sue buyers who pull out of purchasing luxury flats in a £25 million development in Plymouth.

The increasingly desperate measures being employed by housebuilders to sell their properties reflect the dire state of the housing market.


The value of a typical home has fallen by nearly 10 per cent, or about 20,000 pounds, since prices peaked in August last year, raising the prospect of negative equity for thousands of homeowners who bought their property with little or no deposit.


Economists gave warning that there was worse to come. Michael Saunders, of Citigroup, the investment bank, said: “It is fair to say that we are now in the worst housing slide for more than 50 years.”

House prices dive 6.1% in worst fall since 1993

Independent

House prices post biggest fall in two decades

House prices are almost 10 per cent off last August's peak, the Halifax said, and have fallen by 8.5 per cent since 31 December. The consensus is for a further decline of about 10 per cent this year and a similar one in 2009. The most pessimistic observers expect a 30 per cent fall by the end of next year, or about 40 per cent when inflation is taken into account.

Financial Times

Falling off a cliff in slow motion

What might happen to the British housing market? After a week of dire news from specialised mortgage lenders and housebuilders, this is an obvious question. It also plays directly into the darkest obsessions of the British, for whom nothing is more important than that houses become ever more ludicrously expensive.

Fathom Consulting began a bulletin released this week by remarking sardonically that “as the UK housing market downturn gathers pace, it is common for analysts and commentators to argue that this downturn will not be as bad as the early 1990s ... They are probably right. It looks as though it will be worse, perhaps far worse.”
Fathom goes on to argue that nominal house prices are now falling considerably faster than in the late 1980s: the Halifax price index is down by 9.6 per cent since August.




What is the bottom line? It is, quite simply, that a big fall in house prices is likely, partly because prices became extraordinarily high and partly because credit to the market has dried up.

The Herald

Property values fall faster than in 1990s price crash

House prices fell more steeply last month than at the worst point of the 1992 housing market crash, latest figures from Halifax Bank of Scotland revealed yesterday.

The UK's biggest mortgage lender reported that prices fell 2% in June, effectively knocking £20,000 off the value of the average home since last year's peak.

The fall of 8.7% from June 2007 has taken the average UK house price to £180,334, prompting warnings that Britain is suffering the worst housing slide in 50 years.



Despite earlier optimism, Scottish estate agents warned yesterday that Scotland could no longer expect to stay ahead of the rest of the UK as desperate sellers continued dropping prices to shift property.


The prediction follows signs earlier this week that Scotland's traditionally better position in the UK housing market was being increasingly threatened by the credit crunch.


James Whitson, director at Scottish estate agents Rettie and Co, said: "It's a buyers' market. Supply is on the ceiling and demand is on the floor. The only way people who want to sell will be able to do so will be by reducing their prices. We are already seeing prices reducing every day."

Daily Express

Britain needs a stamp duty holiday

Friday, July 11, 2008 02:02AM

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