Monday, Apr 28, 2008
ITV sounding bearish
ITV News: 'House prices continue to fall'
Plenty of good news from ITV:
"The latest falls helped tip the annual rate of growth into negative territory".
"Those who do manage to sell their home are having to accept an average of 92.7 per cent of their asking price,"
"Furthermore, virtually every other element of the Hometrack survey pointed to further house price weakness ahead."
Posted by thecountofnowhere @ 03:11 PM (520 views) Add Comment
6 Comments
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1. whiteknight said...
Got to laugh about how everybody has decided its a 25% - 30% fall at the worst.
From the BofE special liquidity provision (government) on down. Oh well. Who am i yet to say any different.
We let them think its just a matter of PR and talking it all up. Unfortunatley the lesson will be that substance does matter and it will be a lesson to the contrary of this thinking.
2. doomwatch said...
"Hometrack's April survey makes pretty depressing reading all round ..."
Not exactly sure why cheaper homes will be "depressing", apart from the few chinless wonders
whose bonuses and/or commission is derived from over-valuation.
3. str 2007 said...
@ Whiteknight
Sorry am I missing something where does it say in that article about 25-30% falls ?
They seem to be under the illusion that it's just like 2004/5 - nothing to worry about as I read it.
Not like the nineties crash they say.
How is the BofE special liquidity provision factoring in 25-30% falls ?
These I admit happen to be my fall predictions (20% actual with 2 years of inflation). I'm not sure beyond that.
These falls could then cause a further meltdown or somehow the bottom will be found with enough people able to make the numbers work to give some price support.
4. justwatching said...
Did this make the 6 O'clock news, NO
ITV news at 6:30, NO
WHY??????
5. Ijjhall said...
@just watching
Because house price falls are no longer news..
6. japanese uncle said...
British economy is as it were, an Ebenezer Scrooge who ingored Jacob Marley' preliminary warning from hell, and even took the piss out of the three Ghosts that visited him later, without a grain of remorse. You may not wish to even imagine how hard the day of reckoning should be.