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TimD

Us Houseprices Fell Most On Record In First Quarter

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Sorry for bringing some house price related news to the forum.

http://www.bloomberg.com/apps/news?pid=206...&refer=home

US recovery called off for now?

And just in caseyou are new to this website and think "ah well America, its different here, Property Watch says its a good time to buy" then read this one too:

Why US House Prices Will Keep Crashing

why should Britons worry about imploding US home prices?

Firstly because whatever our politicians are telling us, many banks won't want, or even be able, to lend very much while the losses on their dodgy US dabblings keep growing.

And secondly because what happens in US housing is a good guide to our own property market. The US crash started a good 12-18 months before ours, yet it's continuing. There are more than enough domestic reasons why British property prices will keep dropping, as we've pointed out several times recently: Longer dole queues are bad news for house prices. But while the housing market keeps imploding on the other side of the Atlantic, there's even less chance of a turnaround over here.}

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The difference is 18 months. I read so many places that state 12 months or the likes. No idea why !! Very easy to find out.

Case Shiller showed falls in most of the US in Sep/Oct 2006.

The UK Nationwide/Halifax was Apr 2008.

And as for up in 'Never have a crash' Jockland ? We only started reporting falls in Oct 2008. So we are a full 2 years behind the US.

Different countries, different realities and all. Things won't be exactly the same.

However they will probably be fairly similar. Same bubble - same burst.

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