Saturday, Nov 17, 2007
Old turkeys too celebrate Christmas
Times' Anne Ashworth: Is it Christmas already? Tell Santa to break out a rate cut without further delay?
"Even the most downhearted RICS members do not report any panic selling, confirming the suspicion that there lies ahead not a price slump but a period of stagnation, with the number of transactions subsiding. Meanwhile, after the signal from the Bank of England that interest rates could be cut next year, some people are already looking beyond the slowdown, trying to spy out the locations that could be the first to start moving upwards again – or become the next hotspots" ... and of course the American "infidels" are killing themselves on the road to Bagdad
Posted by confused76 @ 02:46 PM (942 views) Add Comment
6 Comments
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1. bidin'matime said...
"There may be predictions of further deterioration in the US housing market... But UK investors with strong nerves are seeking bargains in Arizonia" (sic)
Or should that read Narnia?
But who knows - maybe we have yet to see the 'K-Autumn' fully played out - maybe Ben the Banke will really drop cash from helicopters and Gordo too - maybe more fools will rush in and prices push yet higher... The only brake at the moment seems to be the banking system, but even that may dissolve as banks realise that they could all do what Northern Wreck did and the government would bail them out. I don't know who came up with the term 'Moral hazard' - it sounds far too coy for what amounts to wreckless behaviour. Either way, the government has signalled that it either has no idea of the concept or simply doesn't care - Mr Kondratiev wrote the script and they are trapped into their roles in the whole sorry saga - no one seems to want, or know how, to break out of the ride of doom. But doomed they all are - the only question now is whether we have to suffer yet more months of being called 'doom-mongers' before the ride finally crashes.
2. paul said...
Oh there's wishful.
RICS have reported panic selling. Quoted in the Times Online, no less!
"Confidence in the property market has changed since the credit crunch. The Royal Institution of Chartered Surveyors reported this week that new properties have flooded the market as would-be sellers make a dash for the exits, with the number of homes on estate agents’ books rising by 9 per cent in October."
http://business.timesonline.co.uk/tol/business/money/property_and_mortgages/article2886568.ece
3. sold 2 rent 1 said...
Nicely put bidin
4. geed said...
Paul - Just read that very article in the Times. I have just recently returned from overseas and I am astounded at the huge turn in sentiment. No Economics "expert" can now convince me that there will be soft landing (not that they ever could!). The mainstream press are seriously dire in their predictions, the sheeple are listening and their minds have been swayed. Time to sit, wait and watch for the next 12 months before even thinking of looking to buy, and then it will be only repossessions at auction that may offer some value.
5. Letthemfall said...
Tell us how much your house is worth, Anne. You know you want to
6. Cheekie Charlie said...
Lady Muck's defiant to the end.