Friday, Nov 16, 2007
House Price Rises 'Set To End'
sky news: house prices set to end
The UK's house prices boom will soon be well and truly over, according to one of the most respected property market commentators.
Posted by it will happen @ 05:34 AM (520 views) Add Comment
5 Comments
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1. harold said...
In reality it was over some time ago.
2. Lierbag said...
The 'credit crunch' isn't even the main issue. The bedrock of all wealth creation is the ability to exploit natural resources - and we're starting to hit a brick wall on all fronts. There are roaming gangs digging up the roads and railway networks to scavenge copper; church roofs are being pillaged for lead across the length and breadth of the UK; glass manufacturers are begging for more recycling; the price of aluminium is forcing up packaging costs for tinned goods; there is a world grain shortage; milk production is lierally being siphoned off to satisfy exponential growth in the Chinese market and - glowering over all - is the issue of Peak Oil; currently taking petrol over £1 perlitre, and destined to rise further as OPEC refuses, or is unable, to increase production despite the West clamouring for its product with an open chequebook.
Too right house prices are going to fall.
3. Wdbeast said...
This is the same Fionnuala Earley who announced a 1.1% increase in the Nationwide house price index for October, just 2 weeks ago.
How can she be so bearish, when her own statitics show such a robust housing market?
Someone's been telling porkies haven't they!
4. New User 2007 said...
My issue is them calling her a respected analyst.
I can explain why they are all bearish. I may be a bit autistic in spotting patterns, but I wish the BoE would spot how these announcements work (bearing in mind that most of these VIs assumed an interest rate cut in November was a done deal and that the BOE looks at what these "VI economists" publish)......
....the reports from the Halifax and Nationwide should be seen as a piece of artwork. When interest rates may be on the way up or on hold they concentrate on the negative in the housing market but provide plenty of reasons as to why the market will remain strong in the press release overall (trying to scare the Bank while reassuring house buyers). When the housing market is weakening and the Bank is not expected to be close to raising interest rates, they focus on the positives.
5. denzil said...
I love the title, "House Prices set to end".
Near Pished myself over that one.