Monday, Aug 10, 2009
More falls expected.
Telegraph: Sorry - the house price crash isn't over yet
The housing market crash is over; prices have fallen as much as they are going to; sit back, strap up and prepare for the recovery. That, at least, is the impression we’ve been left with after a number of institutions effectively declared that the slump is at an end. Last week the Royal Institution of Chartered Surveyors binned its forecast for a 15pc fall in house prices this year and replaced it with the prediction that home values could actually rise. This morning, the Centre for Economics and Business Research said we could expect a (small) rise in house prices between next quarter and the end of 2009.
Posted by flintster1994 @ 02:56 PM (1170 views) Add Comment
5 Comments
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1. mrflibble said...
Good read, the two major points being:-
1. It is almost unheard of for the property market to bounce back when unemployment is still rising at a fair whip.
2. This small pocket of activity cannot dispel the simple fact that house prices are unlikely to be fair value at the moment. They simply have not come down enough.
Until we get the FTB's back in I simply cannot see the market going upwards for long, and you would have to be a crazed FTB to touch this market at the minute with prices still at silly levels, hard to find credit and the risk of unemployment around every corner.
2. yoyo1 said...
'So is the house price crash really over? I’m afraid not - at least not as far as I’m concerned'
I get it
1st HPC wave is not predicted by media at all ~ (traitors)
2nd wave is cleverly predicted by media ~ (heroes)
3. japanese uncle said...
Telegraph is the best mainstream medium in its reporting on economic affairs.
Well-balanced analysis. Far superior to the Times, which will not be missed for a nano-second if it will no longer be free on line.
4. growler said...
@3 JU.
100% agree. The Times has become visibly more related to other "newspapers" of the group. The Telegraph have at least become more agressive towards Conservatives and I think are moving into independent territory.
As far as the article goes, it's good to see some common sense in print. More please, for the sake of the average man in the street fed on junk press and property pull-outs in Estate Agent advertising-dependent local newspapers
5. Kernowoggie said...
I think a lot of people (like myself and pand my partner) want to sell and move but are hanging on until things improve. We own two properties here in Cornwall and one we run as a business ie a holiday cottage. If we only had one property to sell we'd probably just go for it. Also, the property we live in we have spent a considerable amount of cash improving it. It isn't just a case of being greedy and wanting to make money for nothing, we would just like to break even and get back what we have spent. Our proposed move back to the midlands will wait years if necessary, we aren't in any hurry to lose a shed load of hard earned cash.