Wednesday, Aug 05, 2009
What's going on? Is the house price crash over?
MoneyWeek: Has the housing market bottomed out?
What's going on? Is the house price crash over? MoneyWeek don't think so. There's certainly been a bounce in prices. But there are good reasons to believe that this is unsustainable.
Posted by damien @ 12:18 PM (903 views) Add Comment
3 Comments
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1. paul said...
Good to see you're still with MoneyWeek damien - you've been quiet recently.
I like this quote from the article:
"As David Smith of property consultancy Carter Jonas puts it: "There is a stark shortage of property on the market and this, above all, is driving the rebound we are seeing. The worry is that this shortage of property will cause buyers to sit on the fence again, as they shy away from committing to a purchase at a higher price."
Someone called David Smith talking sense? Wonder never cease an all that ...
2. mystie010 said...
I have been looking to buy a property for the last 5 years. We came off the property ladder becuase we needed to relocate and the area we moved to was more expensive than the one we came from. I have been waiting patiently for five years for prices to return to a sensible level. All this rebound has done is make me even less likely to buy a house. So I totally agree with David Smith I am going to carry on sitting on the fence for as long as it takes for prices to drop. The UK has gone mad! Let the idiots buying right now get on with it - they really do deserve to get their fingers burned.
3. robh said...
It would be interesting to know the breakdown of how long people have been waiting. I sold up in 2003 for work reasons. Where I moved to seemed too expensive to me so I waited for the drop... a rather long wait! Still waiting. My view remains that overpriced hovels do not become 'worth it' because other people will pay silly money. Obviously for those with savvy it was a good way to make a bob or two, but from what I see a lot of people really weren't very good!