Wednesday, Apr 30, 2008
Analysis - Nationwide's latest house price figures
MoneyWeek: House prices record first annual fall since 1996
"no amount of rhetoric or grandiose 'special liquidity schemes' will persuade banks to start lending against the value of falling assets without demanding big deposits or charging higher interest rates, or both. The soft landing that so many bulls have been praying for isn’t going to happen."
Posted by damien @ 05:51 PM (319 views) Add Comment
2 Comments
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1. hpwatcher said...
Greenbay and all the other housing bulls that frequent this site.....take note!
2. Andrew Beale said...
hpwatcher, i have been watching this site for a while and whilst i think greenbay can be a bit arrogant at times, his reasoning behind his claims does seem justified to me? you guys on here are commenting on the whole market, whilst he believes you must discount new builds etc that have been way overvalued even to greenbays standards, but hey lets give him credit atleast hes had the guts to express his opinion because believe me there are more optomists out there than you would believe.
And to be honest i have to go against the grain here too to a point, i believe property will drop 10% this year 5% next year before returning to 5-8% growth upto 2012. by which time we will have to assess the situation again when the economy starts to improve...