Thursday, Dec 13, 2007
Let us celebrate 4 months of house price "negative growth"
Fool: House Prices Keep On Falling
"Great news for would-be buyers everywhere. The latest housing market data reveals house prices are falling in all regions across the country. Even London, which experienced the strongest house price growth over the summer, has fallen into decline." AYYAYYA YYEEEEEEEEESSSSSSSSSSSSS
Posted by confused76 @ 10:39 PM (694 views) Add Comment
5 Comments
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1. alan said...
"Where next for the housing market?
Well, it's hard to be sure, but this month's base rate reduction could go some way to stimulating the flagging housing market. Moreover, affordability may look up over the coming months as the country's two largest mortgage lenders, Halifax and Nationwide, have already lowered rates in response to the Monetary Policy Committee's (MPC) quarter point cut last week. This could lead to renewed activity but it looks like further reductions may well be needed for a lasting impact".
I reckon this is coded language for "cut rates again, soon, to make houses go up again".
Oh dear, the bubble needs to continue slowly deflating, not be reinflated by IR cuts.
2. wiltshire said...
A woman on the ITV news tonight in Cumbria has reduced her price from 340K to 250K. Ouch! All that lovely stamp duty lost. By the way, why in this day and age do they persist in calling it that? Is it because it sounds vaguer than House Purchase Tax????
3. Stevie Dee said...
more is on its way
4. drewster said...
@wiltshire,
There are a lot of euphenisms in politics. Sometimes they are just a historical quirk of the language but often as you say they hide the real impact. They name things as they wish they were rather than how they actually are. Examples include:
Asylum Seeker = Illegal immigrant
Climate Change Levy = Industrial tax
Congestion Charge = Driving tax
Hydrocarbon Oils Duty = Petrol tax
Investing (in the NHS, in education) = Spending
National Insurance = Income tax
National Lottery = Pet projects slush fund
Prevention of Terrorism Act = An excuse to scrap centuries-old liberties
Safety Cameras = Speed cameras (or even revenue cameras)
Standard Class (on a train) = Second class
Stamp Duty = House purchase tax
Temporary loan from the BoE = Nationalising Northern Rock
Vehicle Excise Duty = Car tax
and finally.....
Soft Landing = Massive price crash!
5. tyrellcorporation said...
A few more from the House of Labour
Sensible Debate = We've already decided now f*** off!
Tsar = Overpaid incompetent Quangocrat
Sustainable Strategy = Not in any way sustainable unless you mean sustaining monstrously wasteful public sector institutions.
Deliverables = Never intended to be delivered even if you could think of a way to deliver it.
Initiative = Headline grabbing statement
Key Worker = Labour voter/State automaton
Ten Year Plan = After the last ten year plan failed
Prudence = Deranged hose-piping of taxes on crackpot schemes
etc, etc...
...I quite enjoyed doing that! :)