Thursday, Sep 09, 2010
Bear Food
The Move Channel: Britons to 'lose average salary' off home
Britons will lose the equivalent of a typical annual salary off the value of their home by the end of next year, new figures reveal... Economists warn the gloomy economic outlook and the reluctance of banks to lend money will push prices even lower, leading to a second house price crash. It comes as the latest house price index from Nationwide reported typical values dropping 0.9 per cent in August... He forecasts property prices will drop 5 per cent this year and a further 10 per cent in 2011. It means a typical property costing £163,500 at the beginning of the year will lose almost £23,000 by the end of next year.
Posted by mark wadsworth @ 02:27 PM (1415 views) Add Comment
7 Comments
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1. righttoleech said...
Britons 'WILL LOSE'.............So the forecast is infallible? A forecast is a guesstimate and this sort of arrogant reporting is equally ignorant whatever direction the dart throwing monkeys predict.
2. timmy t said...
Typo in the headline. It should read "Homeowners to lose...". I am a Briton, but I rent, so I won't lose a penny.
3. landofconfusion said...
"I am a Briton, but I rent, so I won't lose a penny."
Yes but you rent and so you're an irrelevance.
4. timmy t said...
I'd rather be an irrelevance than drowning in debt!
5. str 2007 said...
So the average house comes down to 6 times average salary from 7 times average salary.
WOOO HOOO
I guess it's a start but could really do with things fallling a tad faster if that could be arranged.
6. peeping tom said...
timmy t @ 2
The headline should read "Homedebtors to lose...".
7. Crunchy said...
Home and a loan.
Lonely Thomas will be left, locked in the debtroom, screaming obscenities from within the tiny double glazed roof window
from where he used to look and dream of world domination and the letting of greater galaxies.
Ding, dong!