Monday, Oct 22, 2007
Spin spin spin
Mirror: Is your house price about to plummet?
Nick Webster asked the experts what we can expect in the next 12 months... Yes says JASMINE BIRTLES, from moneymagpie.com and presenter of Homes Under The Hammer. "It's looking likely that we'll have a house-price crash next year. Certainly we will have a slowdown in prices and that has already started. Repossessions have been rising this year and are likely to rocket as people with poor credit ratings and little equity in their homes are refused a new mortgage when their current fixed rate finishes."
Posted by confused76 @ 04:44 PM (760 views) Add Comment
2 Comments
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1. inbreda said...
"JASMINE BIRTLES, from moneymagpie.com and presenter of Homes Under The Hammer
... It's looking likely that we'll have a house-price crash next year. ... Don't rush to sell your home unless you absolutely have to have the money. The market will bounce back."
So even the man who thinks prices will crash is saying not to worry it will bounce back.
I'm sure it will bounce back, but I think he should have explicitly stated a 30 year timescale. Bit misleading otherwise.
2. Icarus said...
Firstly, these 'experts' are answering 'yes' and 'no' but I'm not sure what the question is. Secondly, aren't you just sick of listening to these people? You cannot be a 'housing expert' without having a good model/theory of the UK economy (no good saying there's strong employment unless you know what that's based on and how it might change under specified circumstances) and of the workings of global financial markets and where the current problems there might lead. I just wish that Fionnuala Fionnuala would keep quiet until she has something to say.