doh

Due to the reasons above, and of course pent up demand and strong fundy-mentals, I can't see more than a modest 40% dip.

Literally ripped apart? (I hope)

Never trust anyone who uses multiple exclamation marks.

If you're a sausage manafacturer waiting for your delivery of hoofs and udders you might have been not inconsiderably inconvenienced.

Don't disagree with you but conspiracy theorists might be interested in the fact that the ICE failed today as well.

If the US economic recovery was assured then the bailout wouldn't have been required.

Are you drunk?

LR is a lagging index. LR is a lagging index. Any more questions?

Burn it down. If you can't have it why should anyone else?

I think I'm going to start my search earlier than I need to so I can go and see houses with the desperate vendor present and walk around, slowly shaking my head with a look of profound distaste on my face.

I'm going to buy a house... ...but not yet. Like many here I do want to buy a house at some stage (economic armageddon and global financial breakdown excepted of course). Given the timescales of the last crash I thought I had plenty of time to ready myself for this. However, given the accelerated nature of the current crash this opportunity might come sooner rather than later. Current falls accelerating into the coming recession could mean decent prices in 18 months to 2 years. I want to move to a different area than I'm in now so will need to do a lot of research. I think that means my search should start now. Is everyone else prepared, with vulture funds at the ready?

The latest offering from ultra new labour supporter Polly Toynbee... http://www.guardian.co.uk/politics/2008/se...donbrown.labour I used to hope that Brown would stick around to take the punishment he deserves for eleven years of ineptitude. But if he is going to gamble whats left of the economy to try and gain a few points in the polls then he needs to go now. Electoral decimation beckons either way.

I can't concentrate on what he's saying because he keeps doing that mouth thing...

According to today's Halifax figures a house bought for £234000 in August 2005 should be 'worth' £244757 today. Sounds like this place is £50k overvalued even if you wanted to buy into a crashing market.

Gazundering is good... http://www.metro.co.uk/news/article.html?G...p;in_page_id=34

Isn't this monstrosity due a reduction soon? Been on nearly a year now. Must have lost about £100k in 'value' as well as lost opportunity for interest etc on any sale. The longer they leave it at this ridiculous price the more they'll have to slash it when they finally panic. Any other locationx3 houses still on the market and as overpriced?

http://www.timesonline.co.uk/tol/news/poli...icle4641415.ece The MOD wanted to buy some planes. Control Freak Brown intervened and told them to lease them. This one tiny decision by the world's greatest buffoon cost the UK taxpayer £489 million pounds. This cretin should be sectioned immediately before he can do any more damage.

Wasn't this a scene in Austin Powers?

Did anyone post the link to the actual interview? Here it is (again?) http://www.guardian.co.uk/politics/2008/au...darling.economy Extract... A superb combination of arrogance and incompetence.

Some more interesting quotes in the Independent's coverage...

And Darling is the one driving the lorry, at 60 in a 30 zone, steering with his knees, whilst he texts gordon on his mobile to tell him what a **** he is.

10 months ago Nationwide showed + 7%. It only went negative in April so this looks like a 3 month lag which is what you'd expect from the LR. It correlates quite nicely with the Haliwide figures in fact. People have forgotten how fast the crash has come on. NW YoY... 12 months ago +10% 9 months ago + 7% 6 months ago +3% 3 months ago -4% now -10% 3 months time -16% ???

THE BTL BUSINESS MODEL THEN... Buy 100k flat with 10%deposit. 1 yr later MEW 10k and buy another flat. Repeat. THE BTL BUSINESS MODEL NOW... Buy 100k flat with 25% deposit. 1yr later sell car to raise 10k to cover minimum LTV requirement. 1yr later sell tv & furniture to raise 10k to cover minimum LTV requirement. 1 yr later panic sell flat at 50k Sell story to daily express If you keep buying property with leveraged debt as prices are falling you might find your 'empire' becomes worthless sooner than you think. If the flat you mention was available at 7.79% yield then why had no other investment geniuses snapped it up at 6% yield before you saw it?

That should be true but the NSA YoY change is - 10.5% and the SA YoY change is only -9.7% so they've been seasonally adjusting higher than they should.

Something dodgy going on with this data. First they've adjusted July down so the August figure doesn't look so bad. Secondly, they've seasonally adjusted the figure higher when in all previous years it's been adjusted downwards in August (in fact the SA they've used is one that you'd usually see in November). If you take the original July figure and the seasonal adjustment used in August 2007 then you'd get a MoM of -2.8%. This crash is starting to get interesting. (Edited due to getting month wrong! My figures are as dodgy as NWs...)