Wednesday, Nov 07, 2007
Still any doubt ?
Mail: 'Half the country' to see house prices fall
Half the country will see house price falls in the next 18 months driven by the knock-on effects of the worldwide squeeze on credit, according to a study out today
Posted by confused76 @ 07:04 PM (1196 views) Add Comment
10 Comments
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1. uncle chris said...
It's fascinating to watch sentiment slowly, and in some cases very reluctantly, changing. We have gone from "prices can only ever go upwards", to "rises will be limited to 6-7 %", then 4%, then 1%, and are currently at "prices will drop in half the regions". There is really no way this can end in anything other than a full blown crash .... just like in the USA and Ireland. For those of us old enough to remember the last crash, the headlines are uncannily similar. Then the economic shock was the ERM and now the credit crunch (which we all predicted would come at some point). Oh how history repeats itself.
2. dohousescrashinthewoods said...
I can't get to the article - does anyone havs the direct link?
3. paul said...
www.thisismoney.co.uk/mortgages/house-prices/article.html?in_article_id=426054&in_page_id=57&ct=5
4. Firemang said...
Here-
http://www.dailymail.co.uk/pages/dmstandard/frame.html?in_bottom=http://www.thisismoney.co.uk/mortgages/house-prices/article.html?in_article_id=426054&in_page_id=57&ct=5
5. paul said...
Oops. I mean http://www.thisismoney.co.uk/mortgages/house-prices/article.html?in_article_id=426054&in_page_id=57&ct=5
6. harold said...
"Half the country will see house price falls in the next 18 months"
Only "half"? That's wildly optimistic to say the least.
7. inbreda said...
"half" is very optimistic. What exactly are they saying "half the country will have to face up to reality and the fact that inflation is higher and house prices hideously overvalued, but the other half will be allowed to continue living in fantasy land"
??
8. Pelethar said...
Uncle chris has nailed it. What's really interesting is not necessarily what is being said - how the hell can anyone know exactly what house prices are going to do in particular areas anyway - but how rapidly it is changing. What happened to the Daily Express front pages of "House Prices to Double says Industry Expert"? That was only six months ago or so. To go from there to here in such a short time is astonishing: where will we be in another six months?
9. Crash Already! said...
I think the half to which they refer is the half with houses on it. The half that won't suffer house-price falls is the half on which we have yet to build.
10. doomwatch said...
I think they have failed to factor in a big axe that will be swinging through the City after Xmas.
London prices won't look too "robust" then.