Monday, Mar 19, 2007
...thank heaven for the "housing experts" predictions...
Times online: All fall down?
Amid fears of an American-style crash, the Times Property Editor argues that it’s unlikely, but we should never assume that house prices can only rise: and housing experts predict what will happen next. Homeowner psychology is often perverse: the conviction that property prices can only ever appreciate seems to be accompanied by the ever-present fear of an imminent downturn. The latest focus of this anxiety is turbulence in the US property market, where low-income American home-buyers are suffering a rash of repossessions as house prices slide and mortgage repayments soar.
Posted by ian @ 09:41 PM (192 views) Add Comment
8 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. paul said...
The Times is known for its unrealistically bullish outlook.
In 1992, a year into the last crash, they published an op-ed piece entitled "Has the crash bottomed out?". A year later they published an article "When will the crash bottom out?". And now their logic is that Kensington and Chelsea house prices can sustain and prevent the market from collapsing.
Shills all the way, and not very convincing ones.
2. enuii said...
Kensington and Chelsea represent the creme de la creme of UK property prices, only possibly affordable to the top 1% of the top 1% of UK earners and hardly an indicator of the financial wealth or wellbeing of the rest of the UK. I'm sure prices will be rising in these areas ad-infinitum as these people are doing very well thankyou very much whilst the rest of Middle England and the UK in general slip behind.
Is it me or is the UK becomming increasingly polarised with respect to London as our lazy 'n' complacent politicians get ever more out of touch with the suckers who voted them in. The UK is like the Titanic, viewed as unsinkable but skippered by incompetant spivs.
3. Chilli said...
I read the other day that our exports to america weigh in at 6%. So any downturn there, will be a partial effect of 6% of our exports. Hardly much to worry about. The problem here is simple a lack of housing. Winchester is a good 2hours or something on the train, that's 4 hours a day. And that's supposed to be commutable? Goes to show the lengths some people are willing to put up with.
As soon as they start building houses, the supply will depress prices, and no home owner wants that. They would rather travel for 4 hours a day apparently.
Obviously a lot of people feel they are getting rich, so they put up with long commutes etc. I don't imagine these people will ever look at the broader picture.
4. David20040_0 said...
The United States market is cRASHING BUT THE uk WILL NOT DO SO FOR ONE SIMPLE REASON, THE POPUALTION OF THE uk IS INCREASING AT A DRAMATIC RATE ABUT WE IN THE uk DUE TO THE LACK OF SPACE CANNOT BUILD OURSELVES OUT OF THIS PROBLEM.
5. inbreda said...
David,
May I ask you why you think the population of the UK is rising so dramatically?
6. Davros said...
Thanks David, that's cleared that up.
The doubling of houseprices over 5 years is purely down to increasing population. Funny, I didn't know there were twice as many people here as 5 years ago. I always thought it was nearer to 1%. Silly me!
7. Deadspider said...
Me thinks David hasn't seen Google maps satellite views of the UK and the huge expanse of green stuff everywhere . There is no land shortage in this "Green and pleasant land" .
8. Cstanhope707 said...
David
Couple of things how then using your logic do you explain the Japanese Property Crash, also this Bubble has nothing to do with House Supply it is pure speculation, note previous articles on New Builds left empty.
It is equivalent to me maxing out my Credit Card by going through town and buying up every single England Football shirt, trouble is though it will soon be the following season and my purchase won't be worth $£.
No BTL'r has made a single penny just lost money until they sell up and sell for more than what they paid!!!!
Population increase from Eastern Europe is short term eventually they will move back to Poland etc, when the economy in there countries improves also note that the Housing Boom starting in Eastern Europe will make it less sensible to come to the UK for a minimum wage job with nothing at the end of it!!!!
And when people start investing Overseas for bigger returns why get ripped off in the UK!!!!!