Wednesday, Jun 02, 2010
What will trigger the fall in house prices?
MoneyWeek: What will trigger the fall in house prices?
Merryn Somerset Webb looks at what that might trigger a fall in UK house prices, and reflects on what could well be the worst financial decision she has ever made.
Posted by damien @ 02:43 PM (1200 views) Add Comment
5 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. clockslinger said...
Nothing that hasn't been conjectured endlessly and incorrectly on this site, that's for sure!
2. sureseam said...
Well clockslinger - on that basis, six months ago you would have been advocating the Greek approach to public finances.
The fundamentals has been pointed out endlessly but they never provide a timescale, especially when a bubble occurs.
The property market is illiquid and about to become more so. Time to sell or hold but not buy- methinks.
3. wiltshire said...
Clockslinger, does being incorrect include the downturn in the market (2007-2008)? Does that include the fact that we were hours away from global financial meltdown? Does that include sub-prime mortgage apocalypse? Cos all those things were predicted on this blog long before they happened.
The only thing that countered that 2007-2008 downturn was 14 months of interest rates at an ALL-TIME low and the printing of £200 BILLION of QE (all linked to Gordon Brown desperately trying to make it to May 2010 without the whole economy blowing up in his face).
Now, if you think that is something to celebrate and the basis for purchasing property then I wish you all the luck in the world because you are going to need it.
4. hpwatcher said...
Nothing that hasn't been conjectured endlessly and incorrectly on this site, that's for sure!
You can always tell when the housing market is about to take a hit......lots of VIs' turn up on HPC spreading their propaganda, helping the 'war effort' to keep house prices high.
5. Jayk said...
hpwatcher,
You can always tell when those calling a big crash every week for eight years are starting to panic and realise they have been consistently wrong and made a HUGE mistake: they call everyone who disagrees with them a "VI" and complain bitterly when contrary views are posted. They also whoop and claim it as incontravertible proof when Haliwide calls a monthly fall, and claim Haliwide is full of crap and just make up their numbers when they call a monthly rise.
According to the self-appointed "experts" on this site throughout 2007 and 2008, today the average house price should be about 90k, oil should be about $300 a barrel, the FTSE should be about 2,000 points, BTL should be dead and buried and all the UK's big banks should have closed down. The so-called "VIs" (e.g. anyone who disagreed), even the ones like me who desperately wanted a house price crash, said rubbish to all that and get real. I was mocked for arguing against most of these things. Remind me who was right?
Sooner or later you have to accept that you can't apply past performance, indicators or events on the current market because the market has changed fundamentally. The days of widespread home-ownership are over. We will become a nation of renters with a relatively small number of landlords holding an increasingly-large proportion of the stock. Just like it used to be, and just like most of Europe has always been. MSM knows this (though she hasn't got the guts to admit it to us) which is why she has now bought a house. No-one with a brain falls for her faked "oh what a terrible mistake I've made" rubbish in the FT this week.