Landagan

Seems they are making a power play - but the consequences of failure could be far lower interest rates than otherwise needed. The article makes sense to me, just a matter of time before the wheels begin to come off, they'll survive but there's no way Germany can pull them through this unscathed.

Agreed, they sorely need to hike rates, inflation is bordering on runaway. That's on the street experienced inflation before anybody rolls out the official stats. Why is there a propensity to believe the euro basket and yet resist gullibility with our own?

good news, roll on the crash.

Quite possibly true! ... however most residents here consider inflation specifically at the point of change from Peseta to Euro to have been hyper. Didn't show up in stats, as much as what was experienced. Right now inflation is very high, and massaged stats yet again convince no-one on the ground. Well, the Euro's low interest rate helped to hyper inflate house prices here, and the strength of the currency is now crippling business who are ill prepared for the worst. It's happening now and it's happening fast. Significant cracks will begin to show across Europe very soon, if this continues.

duplicate

That is not born out from experience here in Spain. Joining the Euro has been hyper-inflationary, and inflation at this very moment is way out of control. Nothing sells for less than a euro anymore, small businesses are folding on an hourly basis, as they are unable to lower prices to combat lack of demand. The strong Euro is going to decimate local communities, as the local industries suffer. The Euro is haemorrhaging, and there seems to be a news blackout on it. ... seriously, this is the quiet before the storm.

May I also add to the chorus of approval on what undoubtedly was a very special night for HPC.co.uk and a great bit of work by FP. You seriously nailed the point with the 'property snake' comment. Bravo. We're close to reaching a time where nobody ever doubted there would be a house price correction, it feels odd not to be contrary any longer.

Ok, I've voted. Although I'll keep my opinion guarded for the time being, 'cup and lip and all of that'

They just can't bring themselves to say it! "YOY negative!" It's rather therapeutic when you say it out loud. Well, at least we can look forward to that being undeniable in the coming months. It's already true, and I can live with that.

2.5%, never thought I'd see such a figure - even in the worst case crash. Gonna be a great summer guys!

"Gordon Brown plays whack-a-labour-voter" They've been playing that game for 11 years now, and we've all been fooled into voting for this blatant continuation of thatcherism, by confusing easy credit for real money/wealth. What a truly f*ccked up country this is, and all we have now to look forward to is more of the same.

Idle threats and incantation (from the newspaper). There is not the will, power or resources for such foolish action.

Very well put OP. What an 4rse this bloke really is.

I also caught the end of a financial piece on mortgages this morning on the bbc. The expert was saying how 125% and 100% mortgages are non existent, and that even 95% and 90% are becoming scarce. Banks are looking toward 80%. The interviewer (not Fat-Dec) turns to the camera with fear in his eyes, and manages to ramble out the summary, "So the message is to move fast and move now!" (or something similarly misleading). I dunno, turn the TV on for 30 secs and all I get is doom and gloom. Will these people stop talking us into a recession!

And now listed with further agent; http://www.rightmove.co.uk/viewdetails-205...=1&tr_t=buy

Here's the Telegraph story; http://www.telegraph.co.uk/money/main.jhtm...cndirect102.xml It's also front page on the Guardian, second headline article; http://www.guardian.co.uk/business/2008/ap...nking.mortgages

"Rather than increase interest rates dramatically to discourage new applications, we've decided to withdraw temporarily from offering mortgages to non-customers until we've cleared the backlog." How they make that sound the more positive option I have no idea! Front page of the Telegraph and maybe overkill for negative sentiment. Only yesterday I was thinking April will be a crucial month for telling the magnitude and speed of the crash. Will we get YOY negative figures or can they spin a modest pickup and get the parachute open - partially at least. Maybe Gordon is going to try and bring this down to earth as quickly as possible in order to get it all out of the way before the election. Or at least get the worst over. Then blame it on world events - as if it wouldn't have happened anyway. Seems that way to me.

Actually the BBC's recent take on the new build flats was quite different. http://www.housepricecrash.co.uk/forum/i A collection of VI's trying to breath life into the market, and no talk of falls what-so-ever. Just of how much they have gone up over the last 6 years.

My local market is packed with such properties. These developers appear to be adjusting their prices far quicker than others, but they start so damn high, it only takes them from 'in orbit' to 'kite flying' The losses they make on what will surely be their final 'job' will ruin a fair few! Guessing they're all updating their CV's as we speak.

Omg, she's even given her mobile number out. Mrs Barks is now planning to sue Inside Track and wants other people who have been similarly affected to get in touch with her. She said: "I know there are plenty of others out there." If the comments after the article are anything to go by she's probably got the phone safely turned off by now.

Some positive news for the strength of the pound - short term at least. http://business.timesonline.co.uk/tol/busi...icle3654091.ece "Combined with still robust official figures today that again indicated some continued strength in the economy, Mr King’s remarks left the City divided over whether interest rates will now fall next week, or not until May at the earliest." Euro rates will have to fall at some point, just wait for it.

You will own a property one day, just wait for the moment and see the current price drops through. If you must buy, September would be the earliest I would consider doing so - and only considering your circumstances. You have property developer and estate agent friends - then posting on here seems a good way to lose them!

But wouldn't you much rather read this today? Credit crunch: British house values fall £7,000 since October http://business.timesonline.co.uk/tol/busi...icle3642753.ece

Recent report says. "The Daily Express's readership has fallen 54% over the past 15 years, the NRS survey found, while its reach fell 57%." Days are numbered for this *rsewipe rag. Credibility was breached below the waterline with recent Maddie mania. Seriously, who reads this tripe?

Spot on, don't worry - be happy. If the money's earmarked for property then go low risk in sterling and make sure it's available when you need it.