Tuesday, May 11, 2010
House prices pendulum swings and points to rises
Investment and Business News: House prices in pre-election pick up
The latest round of housing data is now complete. The Halifax, Nationwide and Hometrack have all released their April surveys; the Bank of England’s latest data on mortgage approvals was out a couple of weeks ago; and this morning it was the turn of RICS. By far the most interesting of the findings of late has been the change in the dynamic between demand and supply, with the RICS index tracking new instructions soaring, but the index tracking enquiries declining, suggesting house price falls later in the year. But did this trend may have reversed in April.
Posted by mike @ 09:07 AM (278 views) Add Comment
2 Comments
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1. Annony-mouse said...
First the risk was one of Solvency, [as a pose to liquidity] of the banks.
That risk of bank default has now been transformed into a Sovereign Risk.
We may be looking at a downgrade of the UK, in the weeks following the election, but even if we are not. Sovereign ‘debt’, the Euro, the Pound, will most certainly be under attack. And will devalue. [Probably around 10%]
Forcing IR rises?
So even by following a hyper-inflationary route, or allowing deflation to occur, we come to the same conclusive end.
50%-60% devaluation in houses.
Its just a matter of time.
2. Positivo said...
Nationwide, Halifax and all other EA's should sign an agreement that states if the property market crashes, they are NEVER allowed to predict again, as its so obvious that they are 'biggin it up' to hope the sheeple will start buying at stupid prices again.