Thursday, May 15, 2008
Home Truths
Times: Q&A: Why house auctions are hitting the headlines
Cheerleader Senior First Officer Judith Heywood is facing the hard reality of the forced sales. And property has stopped shfting even in the auction room! "And even the Government, which likes to talk up the market, now believes that the best case scenario is a fall of 5 to 10 per cent this year - a projection revealed inadvertently by Caroline Flint, the Housing Minister" And now even the Times, which likes to talk up too, is confronted with the humiliation of repossessions! "So why are buyers not biting?" Laugh, laugh...
Posted by confused76 @ 10:03 PM (310 views) Add Comment
3 Comments
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1. Bleakhouse said...
Looks like the journos have been following M21er's excellent auction reports. Looking forward to the next 'live' auction on HPC!!
2. uncle tom said...
If the auctioneers said the market's in a tail spin, they wouldn't sell a thing, which is awkward for them as they generally like to think of themselves as the good guys in the property market, giving straight honest descriptions in their catalogues.
As it is they are standing at the podium, selling some property to a blinkered sucker in the audience and thinking 'what's the betting we sell that one again in a a couple of years - as a repo..'
3. plato said...
"So why are buyers not biting?"
1 : "Once Bitten,Twice Shy"
2 : FTBs only need to wait, they will have their day. Why would anyone not want them to ?
3 : Anyone buying at the beginning of a falling market has only one intention:- To keep prices high.
4 : Lenders are even more wary of the market than customers.
5: The prices are still out of proportion to average net (repeat net) income.
Feel free to add !!!