Friday, Mar 16, 2007
Not sure whether this is good or bad news, I think a crash will happen but when we least expect it
First Rung: House price crash predicted by 24% of UK adults within 18 months
"The research shows that a high proportion of UK residents have lost their faith in the stability of the UK housing market. With interest rates rising and bad debt soaring, fewer and fewer people can afford to gamble with a mortgage. Young people are particularly affected since they are likely to have substantial unsecured debt and no equity, making it almost impossible to take that first step onto the housing ladder.
We may begin to see a trend whereby those with equity tied up in their homes may begin to sell up to preserve their capital, sparking a crash in the near future."
Posted by andrew - ealing @ 12:41 PM (144 views) Add Comment
6 Comments
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1. Shipbuilder said...
It's all about sentiment.
A sheep is merrily grazing away, but all the other sheep start to turn into bulls. He doesn't want to be left out, so he turns into a bull as well and they all laugh at the bears. Suddenly no-ones laughing anymore and the bulls are turning into bears. The part of his brain that is forever sheep tells him - 'go with the crowd...be a bear'.
Then the man from the abbatior comes a' knockin.....
2. dohousescrashinthewoods said...
Didn't this come out a while back?
Has it been updated since?
3. millard said...
Sounds like good news, it shows sentiment is changing (as expected). Forgive the metaphore, but sentiment is like a snowball rolling down a mountain, as it grows it gets faster, with all that is going on in the US, NI Oz etc... these predictions of 18 months will soon become 12, 9, 6, 3..... Oh it's happening!
The news stories are all over the place at the moment, both positive & negative on housing, even from the same publication! I think we are at the turning point and fully expect it to have kicked off Q2/Q3 as sentiment drops and credit tightens, all filtering through from abroad.
4. Davros said...
I think this is the key thing. It's a self fulfilling prophecy.
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6. Dickdastardly said...
...................And the tides gonna turn, & its all gonna roll your way