Realistbear Posted July 8, 2010 Share Posted July 8, 2010 (edited) Up 6.3% YoY. At this rate we should see some YoY negative long before winter sets in. Two triggers needed for real action to the downside: jobs and IR/credit restrictions. As of now, IR look set to continue low due to enormous deflationary pressures ( ) but credit does seem to be tightening as we are not seeing much in the way of 100%/120% SI loans that FTBs need to get the chains moving. As for jobs--its a slow process and this is the big lagger when it comes to impacting the market. Bottom line, its been delayed again and we might see a moderate YoY negative this year of around 5% with the decent drops coming in 2011. What a drag it is waking up to see things are not much different today from yesterday. Edited July 8, 2010 by Realistbear Quote Link to comment Share on other sites More sharing options...
piece of paper Posted July 8, 2010 Share Posted July 8, 2010 I am sitting here in the office with a big silly grin on my face and I cannot tell people why. Take your hands out your pockets. p-o-p Quote Link to comment Share on other sites More sharing options...
Redcellar Posted July 8, 2010 Share Posted July 8, 2010 Take your hands out your pockets. p-o-p OOOOOH radio 5 news just said "house prices have fallen for the third month in a row, down 0.6%". Excellent. Actually putting it into scope by saying for the third month. Goody. Quote Link to comment Share on other sites More sharing options...
the flying pig Posted July 8, 2010 Share Posted July 8, 2010 Up 6.3% YoY... kind of... that figure paints a very rosy picture, the simple YoY figure is less than 5% up, the halifax 6.3% compares a full quarter of data apr-jun 09 with apr-jun 10, pushing th e annual YoY growth up because apr 09 was the absolute trough... Quote Link to comment Share on other sites More sharing options...
Guest_FaFa!_* Posted July 8, 2010 Share Posted July 8, 2010 Take your hands out your pockets. p-o-p Quote Link to comment Share on other sites More sharing options...
Georgia O'Keeffe Posted July 8, 2010 Share Posted July 8, 2010 They simply will not accept the fact that markets rise AND fall. HPI is still seen as the god to be worshipped in this country and a reduction is prices will simply not be accepted--only less gains: hahaha the sheer chutzpah of it, thats the funniest thing ive ever read on this site 11/10 for sheer effrontery Quote Link to comment Share on other sites More sharing options...
Guest_James Toney_* Posted July 8, 2010 Share Posted July 8, 2010 FTSE 100 5079.13+1.28% The stock traders haven't digested it yet. imo, i think stocks will rise and shares will do well, i think people will get into them and out of housing, imo, might be wrong , usually am Quote Link to comment Share on other sites More sharing options...
ingermany Posted July 8, 2010 Share Posted July 8, 2010 (edited) Daily Express readers should be keeping the Samaritans busy today. The Express's Editor has wisely shielded his readers from the truth on house prices, so predictably there is absolutely no mention of the Halifax figures. However he has made the gaffe of revealing that gay foreigners are now entitled to assylum in UK. This news will push 1000s more over the edge of the abyss of insanity. Edited July 8, 2010 by ingermany Quote Link to comment Share on other sites More sharing options...
deflation Posted July 8, 2010 Share Posted July 8, 2010 Daily Express readers should be keeping the Samaritans busy today. The Express's Editor has wisely shielded his readers from the truth on house prices, Since it was printed 10 - 12 hours before the Halifax press release, it would have been a good guess. Wait til tomorrow. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted July 8, 2010 Share Posted July 8, 2010 Since it was printed 10 - 12 hours before the Halifax press release, it would have been a good guess. Wait til tomorrow. No need http://www.express.co.uk/posts/view/185595/Fivefold-rise-in-property-millionaires Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted July 8, 2010 Share Posted July 8, 2010 Daily Express readers should be keeping the Samaritans busy today. The Express's Editor has wisely shielded his readers from the truth on house prices, so predictably there is absolutely no mention of the Halifax figures. However he has made the gaffe of revealing that gay foreigners are now entitled to assylum in UK. This news will push 1000s more over the edge of the abyss of insanity. "House prices will never fall here because of the upwardly mobile Malawian gay asylum seekers" Quote Link to comment Share on other sites More sharing options...
Sour Mash Posted July 8, 2010 Share Posted July 8, 2010 I am not sure this is going to have a material impact on UK share prices - yet. £, on the other hand, is ticking lower against both $ and Euro after this news. Edit: should have said UNEXPECTD news, lol A lower pound should boost share prices. Plus, a falling housing market makes further 'economic support' (i.e. printing money) more likely, making shares look like a good bet. Quote Link to comment Share on other sites More sharing options...
Jack's Creation Posted July 8, 2010 Share Posted July 8, 2010 http://www.forexfactory.com/calendar.php Have a good day people Quote Link to comment Share on other sites More sharing options...
easy2012 Posted July 8, 2010 Share Posted July 8, 2010 A lower pound should boost share prices. Plus, a falling housing market makes further 'economic support' (i.e. printing money) more likely, making shares look like a good bet. Most FTSE are international - so £ down, means price up (except like of Argos etc which is UK focus). BBC2 programe on how to live through the tough time on tuesday was a good one. Most people didn't really feel a recession as long as they kept thier job due to sharp drop in mortage payment. If they have upgrade their lifestyle with the extra cash, it would be a real pain to try to downgrade again. Also, CPI are on the rise strongly. Looks like we have a recession that never look like one, and a recovery that will feel like a recession. There will be far less money available to bid up HP Quote Link to comment Share on other sites More sharing options...
200p Posted July 8, 2010 Share Posted July 8, 2010 Hoooooray?! Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted July 8, 2010 Share Posted July 8, 2010 Sky News, 7.30 tonight is talking about the property millionaires. Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted July 8, 2010 Share Posted July 8, 2010 This is from the Halifax spreadsheet, showing the price earnings ratio. Note that average earnings are going nowhere, and if anything the trend is downwards. ------ Here’s the long-term chart: Quote Link to comment Share on other sites More sharing options...
Sibley's Love Child Posted July 8, 2010 Share Posted July 8, 2010 Mr Oil PS - it does feel rather good though doesn't it. I've hated being so very wrong for months. perhaps the missus will start to forgive me for putting her in rented soon... christian louboutins haven't covered it.... I hear ya, the wife has become unbearably (no pun) bullish and desperate in the wake of this over-long false recovery. I've taken great pleasure in e-mailing the recent Halifax & LR reports to her: "See! They were all wrong; your family, the fecking EAs and your financially illiterate friends".... Quote Link to comment Share on other sites More sharing options...
Guest_James Toney_* Posted July 8, 2010 Share Posted July 8, 2010 I hear ya, the wife has become unbearably (no pun) bullish and desperate in the wake of this over-long false recovery. I've taken great pleasure in e-mailing the recent Halifax & LR reports to her: "See! They were all wrong; your family, the fecking EAs and your financially illiterate friends".... Quote Link to comment Share on other sites More sharing options...
Guest_James Toney_* Posted July 8, 2010 Share Posted July 8, 2010 (edited) fallinggggggggggggg Edited July 8, 2010 by James Toney Quote Link to comment Share on other sites More sharing options...
Dingleberry Posted July 8, 2010 Share Posted July 8, 2010 You know what, this is it. A couple of years ago was just a trial run. 'How many drops is this for you, Lieutenant?' 'Thirty-eight... simulated.' Quote Link to comment Share on other sites More sharing options...
Liquid Goldfish Posted July 8, 2010 Share Posted July 8, 2010 I don't doubt your figures as I added up the column of negatives and positives and came to 4.9% myself but how do the halifax get their 6.3% figure when then own figures show a year on year figure of 4.9%? Hfax use a 3 month average, I think, so presumably they are comparing average of april, may, june with the same from 09 Quote Link to comment Share on other sites More sharing options...
angrypirate Posted July 8, 2010 Share Posted July 8, 2010 'How many drops is this for you, Lieutenant?' 'Thirty-eight... simulated.' How man combat drops 2....including this one Oh Sh!t man Quote Link to comment Share on other sites More sharing options...
evictee Posted July 8, 2010 Share Posted July 8, 2010 Well if the projected 13% falls we've got left are anything like the 23% falls we've supposedly had already, I might as well give up all hope of ever owning a home right now. Quote Link to comment Share on other sites More sharing options...
scottbeard Posted July 8, 2010 Share Posted July 8, 2010 Well if the projected 13% falls we've got left are anything like the 23% falls we've supposedly had already, I might as well give up all hope of ever owning a home right now. That chart comparing house prices to RPI isn't all that helpful. If your food shopping doubles in price that makes that chart show a "real" house price fall, but doesn't help you buy a house. Don't worry though, these ridiculous house prices won't last forever: they could last a few years yet though. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.