Thursday, Mar 11, 2010
The Mode think house prices will rise
Moneysavingexpert.com: What'll happen to house prices?
7000 votes and 68% think there will be no drop this year
Posted by ontheotherhand @ 05:32 PM (880 views) Add Comment
7 Comments
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1. Smugrenter said...
moneysavingsexpert.com, the site where people go looking for something for nothing? (free financial advice and great 'deals')
no wonder they expect house prices to rise...
2. fallingbuzzard said...
71% of households own their home outright or with a mortgage. 29% do not own. Shame they didn't cut the sample by ownership status.
3. mick rupert said...
All stats are open to interpretation.
You could say that 52% do not believe prices will rise.
Or that FIVE TIMES as many people who believe there will be 20%+ boom (1%) believe there will be a 20%+ crash (5%).
A cut by type of personal occupancy would be useful. No way of verifying it, however. Also wonder if there would be a category for "new build flat flipper", "cocky know-it-all estate agent" or "MP with a portfolio of property who also has a say in fiscal policy".
Anyway, MSE is hardly the bleeding edge of monetary theory. You may as well go to Battersea Dogs Home and ask the hounds how often they think they'll be going for walkies in 2010. Woof.
4. mick rupert said...
Also, dear readers, also consider what the consensus of events was in June 2007. The sheeple had no idea what was gonna hit them.
I'm getting a strong, strong sense of deja vu.
5. rumble said...
Down 30% from two years ago?
6. Topher Bear said...
This is good news. If the gen pub are expecting further falls, I wouldn't! If they think the market is going to continue to recover, they may be more likely to put their houses on the market and increase supply.
7. house said...
@4, Rumble
I would like to think house prices could be down 30%, but I do not think so unless everybody in the chain reduces the price to achieve the sale. This would require good negotiators to achieve these reductions. This is what happened in the last crash. When the market stalled the estate agents had to convince their sellers to reduce their prices (expectations) and this goes through the whole chain. The estate agents will have to work a lot harder to earn their commission.
Or maybe the British public like the idea of getting into higher debt and continue to pay the unaffordable prices ??
Time will tell.