Friday, Nov 09, 2007
The crash is officially underway
Bloomberg: U.K. House Prices Fall for Second Month
The single monthly decline in September was dismissed as a blip. But this second monthly decline in October almost certainly exposes a trend.
Posted by paul @ 10:17 AM (268 views) Add Comment
5 Comments
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1. Mark said...
it is funny really, all reporters seem to think the public are pretty intelligent and that the buyers are staying away for all sorts of reasons only bankers could understand.., this is simply not true the public in general are not good with finance, the only reason buyers are staying away is because prices are now way too high, simple really...
The public dont understand SIV, CDO, etc etc.
2. Mark said...
For the first time today I saw a for sale sign with a big reduced sticker on it.. in Cheshire, is this the start of a mass reduction in prices? If i could put a pic of it on here i would...
3. Magnifico said...
... and another suggestion of rates cut.
Who are they trying to protect with this ridiculous effort not to let a correction ( which in almost anyone's book is long overdue) to take place.
would it be those who by sheer greed have completely distorted the social fabric of society? Should we feel sorry for them if they are made to sell their little nest-egg? They'll still have their homes to live in which is more that can be said about people who cannot get on the property ladder to save their lives, but then again those tend not to vote at Elections.
( a provocation this may well be, but there is a truth there also).
4. Dobbsie said...
Look at the sponsored link at the very bottom!!
5. Davros said...
We're told this is normal for a 'stagnating' market, however the Halifax's own figures betray this as a myth. If you look at the long term trend, there's nothing random about it. We've reached the peak and we're on the way down.