Friday, Nov 30, 2007
House prices fall 'fastest for 12 years'
Daily Mail: House prices fall 'fastest for 12 years'
One of the comments:
I read the articles on this site and then go to work and listen to colleagues who are continuing to buy property, completely oblivious it seems to the crash that is taking place around them. How strange I think, are they insane? Do I work in a supermarket with people of limited financancial sophistication. No I work in the City of London, they're still buying and as long as they do, I can't see this 30% fall in London and the south east. Personally, I wish they would as I want to upgrade and my salary would go further if prices were cheaper.......
Posted by eagle @ 08:02 AM (241 views) Add Comment
1 Comment
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1. Aaron_m said...
Of course they are buyers. There will always be an equal number of buyers and sellers because each transaction includes one buyer and one seller! This anecdote is simply "evidence" of high volume. High volume might just be a sign of high velocity movements, not a sign of upward movement.
Prices are moving down quickly, and all this tells us is that there are still plenty of suckers buying making it easy for the wiser ones to get out.