Sunday, Dec 16, 2007
House price will fall... the same boring news
Tgraph: Citigroup predicts 10pc fall in house prices
There isn't really anything new to say, but it strikes me the change of tune of the media over the past 2 weeks. "Whether you call it a crash or a slump, this is going to be very painful," said [Citigroup's] Michael Saunders. The central banks' move to inject liquidity into money markets would not "remove the prospect the economy will slow sharply because of the drag from severe housing weakness, high household debts, rate hikes and the tightening of credit availability"
Posted by confused76 @ 09:32 AM (226 views) Add Comment
3 Comments
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1. Cheekie Charlie said...
"Whether you call it a crash or a slump, this is going to be very painful," said [Citigroup's] Michael Saunders.
Come on Michael, you got the above statement correct. But 10%!! You can get more than 10% off asking price without even asking!
I think its a case of lets put the word on the street its only 10% and hope it sticks. Looks like these so called expert predictions will be reviewed on a regular basis.
2. Orwell said...
"....though the 10 per cent fall could easily come in one go..."
Mmmmmmm says it all really they don't know.
3. Uncle Fargas said...
"...and Rightmove is expected to announce a larger-than-expected drop in average asking prices in its December Index."
If its expected, then how is it larger than expected? Quality.