Jump to content
House Price Crash Forum
Sign in to follow this  
red

Too Soon To Talk About Recovery

Recommended Posts

I love this guy (Patrick Collinson) :

Forget the 0.5% Bank of England base rate. Ignore those lucky mortgage holders who took out "tracker" loans that are now at 1% or so. The real rate for people taking out loans today is the same as it was at the peak of the housing bubble – around 6.5%.
So, we still have high house prices, high interest rates, high deposits, and no wholesale funding. Just what sort of base do the "optimists" think this forms for a "recovery"? I'm in the other camp of optimists – those who are optimistic that prices will stagnate or fall for years to come.

read on:

http://www.guardian.co.uk/money/2009/sep/1...es-house-prices

Also: DOOR SLAMMED ON FIRST TIME BUYERS

http://www.guardian.co.uk/money/2009/sep/1...uyers-mortgages

Average_mortgage_rates_gr_001.jpg

Recovery my @rse.

post-278-1253357466_thumb.jpg

Share this post


Link to post
Share on other sites

They'll stagnate if people don't need to sell. However, many people do need to sell, and if they need to sell they have to sell at a price that people are willing and able to pay. It'll be like the early 90's.... the "average" house price won't seem to move that much, but there'll be houses on the market available for more than 50% off....

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   295 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.