Saturday, Aug 01, 2009
Stats and stuff
FT: House prices pose sizeable question
Are the house price rise figures of recent months a reliable indicator?
Answer: no.
Posted by letthemfall @ 03:47 PM (889 views) Add Comment
3 Comments
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1. will said...
If we are out of the woods, then why are the majority of houses being advertised at their pre-crash prices, with the exception of a few. Or has the correction only been in a few parts of the country? Denial still exists in the West Country and talk of rising prices will only strengthen the resolve of those who couldn't sell 18 months ago. Stalemate. I envisage folk advertising their homes for many years to come at totally unaffordible levels, and many sadly will be dead before they realise their assets. Meanwhile, as prices start to go up again, who has been awarded a huge pay rise to climb the housing ladder? Sadly not for most of us. How will the banks create a future wealth illusion to tempt us into extraordinary large mortgages now that many already have 'interest only' or 40 year terms. Nothing has changed since the market topped in 2007.
2. paul said...
Indeed the irony of this false dawn is that it will significantly protract the house prices downturn.
3. clockslinger said...
and the sizeable question is why the FT led on the Foxton story today