Thursday, Aug 27, 2009
More cold water poured on the housing market recovery
Money Week: Don't believe the bulls: US house prices will take years to recover
David Stevenson explains why he thinks the recent bounce in house prices won't last.
Posted by will @ 12:42 PM (724 views) Add Comment
7 Comments
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1. mark said...
interesting, this could mean our banks will take another hammering??
2. japanese uncle said...
'Years' should read 'decades', I am rather sure.
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4. stillthinking said...
http://en.wikipedia.org/wiki/Lost_Decade_(Japan)
says it here
5. bluebeach said...
I know the title relates to the US housing market, but all this bluster about UK prices increasing lead me to look at my local market, the market where I want to buy in and live in. Rightmove has 169 houses within 1 mile radius of the village on offer (I know that Rightmove's 1 mile is alot greater than our normal welsh mile!) Only 4 houses over £150k are under offer with 13 under offer in total (including plots). Now one plot has been "sold" on Rightmove for more than 2 years, therfore I don't believe that even the 4 sales above 150K represent the "latest" market activity. Therefore, I don't believe the bluster... asking prices, price increases don't mean a jolt around here if nothing is actually moving. It will only act as a wall between sellers who want near the full price and the buyers who don't believe that the property is worth anything near the asking price. Nearer Chester, and Wrexham / Chester border, things are picking up and moving (can this go on?)but up in the hills, not as clear cut me thinks ;O)
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7. paul said...
Thanks JU. I didn't know it had its own page on wikipedia - thanks stillthinking.
Just as an aside, while on this topic, I trust you're aware that "Quantitative Easing" is a crude translation of the Japanese term "量的金融緩和" (ryouteki kin'yuu kanwa) - lit. "quantity finance easing".