Friday, Jul 18, 2008
you've guessed it!
Mail Online: Revealed: Middle Britain will be hardest hit by falling house prices
''...Middle Britain will be hit harder by falling house prices than the rest of the country, research shows. It warns that on average almost £40,000, or more than £100 a day, will be wiped off the value of these homes this year. A typical Middle Britain property will fall 18 per cent between January and December, according to the insurance firm AXA and the Centre for Economics and Business Research...''
Posted by hpwatcher @ 09:15 AM (357 views) Add Comment
5 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. drewster said...
There's another Wait-And-Let person in the comments.
"I am a home owner and I am moving, but rather than panic I am just going to let my house - and there's now a huge demand for rental properties. I simply refuse to accept that prices will never recover. Houses are not worth inherently less there is just a shortage of demand caused by fewer people qualifying for mortgages. It will improve. For people worrying about lower house prices the answer is just don't sell!"
- Paul, Lancs UK, 18/7/2008 9:31
I can understand his logic but, as Keynes said, "the market can remain irrational longer than you can remain solvent". I wonder if he has told his mortgage-lender that he is now a landlord....
2. mark wadsworth said...
I'm glad that The Mail has come over to our way of thinking. Is The Express on-side yet?
3. Whostolemyendowment said...
It is only a Midde Britain - built on high property values or BTL porfolios....not whether they are in skilled manufacturing or managerial jobs with decent salaries......
4. Oldhills said...
If you are solvent and paying your mortgage and you simply want somewhere to live, let the bankers and mortgage brokers worry, currently their jobs are on the line. If you have been trying to be clever attempting to be a property investor; tough! that's busness. Has anyone noticed how the housing shortage has gone underground? The truth is there never was a housing shortage; people have been buying property simply as an investment and out of lemming like panic so creating a shortage. If you can comfortably rent your now difficult to sell property and remain with your head above water, good luck you have made a shrewd move somewhere along the line.
5. brian t said...
That "wait and let" guy has it bass-ackwards: "Houses are not worth inherently less there is just a shortage of demand caused by fewer people qualifying for mortgages" ?
"worth inherently less"... than the over-inflated price you might have been quoted during the bubble?
"fewer people qualifying for mortgages" ... than the numbers who were incorrectly sold mortgages they could not afford to re-pay, once the introductory teaser rate expired?
It's all relative - but he's thinking relative to the bubble, while HPC readers are thinking relative to prices as they should be, and sensible mortgage lending practices.