Wednesday, Sep 24, 2008
They have given up predicting future prices !
Telegraph: House price predictions 'futile' says CML
House price predictions are "futile" (me: so is trying to stabilise your investments) in the current market, according to the Council of Mortgage Lenders which has abandoned forecasts for this year. The CML admitted that its prediction in May that house prices would drop by 7 per cent in 2008 had "underestimated the extent to which property values are set to adjust".
Posted by landedgentry @ 11:45 PM (195 views) Add Comment
3 Comments
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1. it_is_going_with_a_bang said...
That just means they know where is going but they don't want to tell you.
So when you go for a new house or mortage think about it .....
Would you get on a bus if the driver won't tell you where he is driving? Or would you wait for the next bus? .....
2. This comment has been removed as it was found to be in breach of our Blog Policies.
3. handle_it said...
"Industry commentators urged the CML to reconsider its decision, saying house price data is a useful tool for those buying and selling homes." Derrrr ! That's why they stopped ! :)