Monday, May 21, 2007
Have we reached the peak?
The Times: Signs emerge that UK housing is off the boil
Mortage lending is falling and house prices are stabilising as the fourth interest rate rise in ten months begins to take hold
Posted by becky @ 03:03 PM (312 views) Add Comment
5 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...
I'm quite sure such a headline existed a year ago in the US.
"Realtors confirm that house prices are stabilizing, Fed breathes sigh of relief".
Keep watching as prices keep heading south.
2. Mike said...
I don't wish for a crash, but house prices are WAY too high and need to come WAY down (30%+) I consider myself reasonably well paid and cannot afford to buy a home, so how on earth do people on minimum wages ever expect to own their own home?
I personally blame estate agents, Those that I have ever dealt with are greedy, truth bending and generally slimy creatures. Even renting a property has become impossible, most want to know your intimate history for the past 3 years, plus pay them over £200 for the privelege just to let you pay 6 weeks deposit + a months rent in advance just to RENT a place. Inj most cases this equates to well over £2000 for even a small place to live that you will never own. Disgraceful.
3. dohousescrashinthewoods said...
Likewise, I don't "wish" for a crash, as the human misery it will entail is awful.
However, the market is out of whack and will likely return to form.
I too would like to buy a house (or rather, some land) and would be pleased to buy at the bottom of a cycle rather than the top. No sense in financially shooting yourself in the foot if you can help it.
This cycle looks huge so I don't think it will rise again for a long time, compared to previous cycles. 20 years of negative equity coming right up!
4. Orwell said...
The last bit is interesting: "Rightmove also revealed today that the looming Home Information Pack deadline of June 1 had resulted in an increase of people advertising their homes for sale. The company said 200,000 more homes were listed on its site in May, beating the previous record in June last year, when advertisements rose by 178,158."
Nick Raynsford is a lobbyist for these or other Home Pack individuals. And he is probably one of the only ones who have decalred such interest having some semblance of left wingishness left. I wondered until hearing this why the spin meisters were so determined to bring them in. Now 200,000 properties and that is at the trough and not the peak of repossessions which reached over 80,000 last time - Hold onto your hat!!
5. Orwell said...
Why 20 years negative equity then? Where is your method and science in that comment?