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Offshore Joe

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About Offshore Joe

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  1. I was watching Sky News early this morning (I'm working in Africa at moment - so it may be some kind of "Internationalised" version of Sky). They had a brief report from USA - the piece was filmed in Virginia and showed a lady trying to sell a $1,000,000 house that was falling (rapidily) in price, streets with dozens of "For Sale" boards, multiple agents signs and a short interview with an estate agent saying how tough times are. The US media seem to be getting their teeth into the story now. Wonder if Sky will repeat this piece in UK Prime Time?
  2. Hi All, Not sure that I fully understand this, but it looks like "cheaper" mortgages could be used to prop up house prices and cheaper credit cards to prop up retail spending. MSN Money It'll all end in tears..... but then again, by 2007 house prices will have fallen AND there'll be cheaper mortgages = Win-Win situation! Joe
  3. There was a brief (about 10 seconds) mention, of Greenspan's comments, on the CBS Evening News (carried by SkyNews in the small hours) this morning. The gist was along the lines of; House Prices can fall, with a mention of the high debt amongst US households. (this sounds familiar...)
  4. Assuming thse figures relate to Q1 2005, over 20 (Twenty) of the Scottish areas show price falls. The largest quarterly fall being Scottish Borders at -14.5%. (Extrapolate That over a full year....) Q2 figures should be very interesting when they are published. Just musing - would this indicate the real crash starting in more outlaying areas and then rippling inwards?
  5. From reading the notes at the bottom of the article, the Scottish figures are from Jan to March this year - so the next figures will probably show the price falls accelerating even more.
  6. I was back in the UK a couple of weeks ago - M74 Southbound, Gretna Green Services - they were charging 99.9 p per litre for diesel - I think this just Might make transport companies increase thier charges?
  7. Just re-reading the article: QUOTE: “With 44,000 homes coming onto the market each week, if there is the slightest hitch there could be a catastrophe UNQUOTE. Now, my calculator makes that 2,288,000 homes coming on to the market in a year - surely that can't be right? Can it?
  8. Morning all, Please take a look at the link below, I'm not sure if he is saying that the catastrophe that Home Information Packs would cause would be falling prices or an artificial restriction on properties being marketed? Could the latter case possibly have a braking effect on the drop in prices? Article
  9. 'Evening All, Thought I'd post the text from an auctioneer's newsletter I recently received. They do seem to be trying to persuade sellers to become more realistic. Would be interesting to know the prices agreed in the post-auction business - maybe the shock of not selling at/above the reserve price has sparked some sellers into a realisation that prices are indeed continuing to fall. QUOTE:- JUNE 2005 POST-AUCTION NEWSLETTER Our recent property auction was held last Thursday 9 June at the David Lloyd Leisure Club in Bolton. In line with many other property auction houses at the moment,
  10. The article is a couple of weeks out of date, but some confirmation info about falls in prices in Scotland Scotland
  11. Aboutproperty.co.uk Click on the link and go to "Sellers tune into buyers expectations" Quite surprised that offers are only running 4 percent or so below asking price.
  12. We should be grateful to the RICS for providing such an objective view of the state of the housing market over the last 3 months, and their view of the future: "New buyer enquiries slipped back in May, RICS said" "the economic climate has begun to dampen the mood of potential buyers" Has anyone got a link to the full RICS report?
  13. I particularly liked this part: "A tepid upturn in buyer activity at the beginning of the year seems to have fizzled out." That'll be the Spring Bounce then.....
  14. Hi All, Just noticed this from reuters, apologies if already posted somewhere else:- Quote: Reuters House prices mark fastest fall since 1992 LONDON (Reuters) - House prices fell at their fastest pace in 12-1/2 years in the three months to May as the number of new sellers continued to rise and potential buyers shied away, a survey showed on Tuesday. The Royal Institution of Chartered Surveyors said its seasonally adjusted house prices balance for May fell to -49 from a downwardly-revised -41 in the three months to April. May's reading was the lowest since November 1992, when millions
  15. http://money.msn.co.uk/Bank_Plan/Banking/d...use/default.asp Not very computer savvy, so hope the above link works. Apologies for not posting often, but my work sometimes precludes getting at the 'net. OSJ
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