Tuesday, Dec 11, 2007
Bolt-on King says: flat, steady, stable, zero growth, supply, demand, single, households, HIPs, London-and-the-SouthEast, Rate-cuts
Firstrung: UK house prices to show zero growth in 2008 - NAEA
"The market as a whole is clearly not as strong now as it has been over the past seven years and this is down to a combination of factors. While we expect to see a much more subdued picture in 2008, the underlying strengths remain the same and we are hopefully that these will help the market to weather adversity over the coming year." Laugh, laugh, laugh
Posted by confused76 @ 01:09 PM (380 views) Add Comment
6 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Hpwatcher said...
I think *hopefully* is the important word there.
2. Sid Public said...
... but Japan’s bubble took a decade to unravel.
It'll happen... but will it happen in 2008?
It think we'll know come March/April next year...... the US and UK are going through a repeat of the Asian debt crisis of 1998, though this time the Asians are the creditors. And it seems to be these Asian creditors who are meant to suffer the loss of supposed rate freeze plan for sub-prime mortgages in the US. If so, what foreign lender will dream of lending into the US mortgage market?
3. denzil said...
They can't actually admit that prices will decline next year can they?
4. wdbeast said...
Following the "zero growth" they will have to come to grips with "negative increases".
This will then be followed for the next few years with "positive declines" in the market.
One thing is for sure it's going to be messy and people are going to get hurt, I hope you are all battening down the hatches!
The tipping point has been reached!!
5. converted lurker said...
Tell you what guys the industry denial is fascinating to watch, as someone who has swum againt the zeitgeist tide of industry opinion for so long now it's good to be accepted as a bit of a 'sage'. ;¬) Each day the murmurs in the mortgage industry get louder, only a year ago (Nov 06) I was laughed at by office minions for having the temerity to suggest to the MD of one of the top five brokers in the UK that; credit would dry up, then applications would shrivel, and house prices would follow, and he'd have to lay of half of his staff (mind bended minions didn't like that one!) I gave it about 18 months to reach the epicentre of panic...That takes us 'till May
6. converted lurker said...
Denzil no THEY can't, was tempted to use an image of Steven Hawking in zero gravity, stupid quants have had their day ;¬)