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I hope the good folks at Money Week won't mind me highlighting today's Money Morning email... another nice dose of reality from MW.

===

Money Morning

London, England

Monday, 15 August 2005

-------------------

*** House prices still falling

*** Aussies bowl for London Stock Exchange

*** Get the best exposure to oil...the end of home makeover

shows... here comes the credit crunch...and more

----------------------

ˆ UK house prices are continuing their inexorable

slide. Property website Rightmove today said asking

prices fell 0.2% in the past month, compared to a 1%

fall the previous month, while the average time taken

for property to sell rose to 78 days from 75.

---------------------

The Credit Crunch Is Coming:

ˆ A credit crunch is coming on both sides of the

Atlantic, says RH Asset Management, despite attempts by

lenders to reassure markets. In the UK, lending

criteria have been tightened, and in the US, the number

of unsold new properties has risen every month this

year. Eventually overstretched households in the UK and

US will default on their mortgages ˆ and that will hit

property prices hard. For more, read:

http://www.moneyweek.com/article/1184

No More Home Improvements:

ˆ US housing bulls like to promote the idea that

housing-related trade jobs will stay strong even if

construction levels fall, as people will continue

spending money on home maintenance. But evidence from

Sydney, where the housing boom is well and truly over,

suggests otherwise says Whiskey & Gunpowder‚s Mike

Shedlock. To find out why makeover shows could soon be

a thing of the past, take a look at:

http://www.moneyweek.com/article/1182

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  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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