Saturday, Mar 29, 2008
Nationwide concedes the market has turned!
Nationwide: House prices
Page 2: negative momentum is building, for the first time more people think prices will fall than rise. Page 3: the 2006-2007 mini-bubble is well and over. Footnote 1: but still the (relative) majority of people think prices will be flat... good try Fioanuanallalllalla!
Posted by confused76 @ 12:35 PM (100 views) Add Comment
1 Comment
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1. new user 2007 said...
They are admitting falls now only because unless there is a sharp reversal in month on month price trends i.e. they rise next month, then they would look very silly sticking to their stable market forecast. The reason they would look silly is that if the month on month figures now remain close to zero then by May we will start seeing year on year falls for technical reasons.
This is probably about to happen so they need to remain credible by finally admitting problems. The like of David Smith will no doubt say that the Nationwide is balanced and called the turning of the market, rather than remember that they left it until they could not deny it.