A Vi In Action!

[Chest Rockwell]

Check this out:

http://www.worcesternews.co.uk/news/8272185.COMMENT__House_market_has_key_role_in_our_recovery/

AS THE nation attempts to pull itself further away from recession, the housing market is at last showing signs of long-term recovery.

Property prices fell away alarmingly after reaching a peak in late 2007 and the ensuing credit crunch and economic crisis has done little to help either sellers or buyers.

There is little doubt the house price boom was a bubble waiting to be burst and the market was artificially inflated by the time of the crash.

Thankfully there are now encouraging signs the market has corrected itself.

There have been 16 months of rising house prices although only half of the value lost in the preceding 16 months has been recovered. The recovery has been less pronounced here in the Midlands, with prices rising by just over five per cent, than in areas like London and the South East which have seen increases of around 20 per cent.

Many economists are predicting a flat property market for the rest of this year while others warn more price falls could be on the way.

The housing market remains important to the national economy because so many of us are home owners and, for most people, property remains their single biggest investment and asset.

The potential for mass job losses in the public sector could lead to another big increase in repossessions and this could play a part in determining the housing market’s direction.

The market will find its level – probably below its 2007 peak – but it may be some time before we are clear what that is.

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The man/woman called Economist that posts below the article is a legend when it comes to these sort of VI house price articles! I wonder if he/she is an HPC'r?

Edited July 15, 2010 by Chest Rockwell

[LittleSteroid]

they can talk...its game over now anyway...

[noddage]

I know who wrote that editorial - and the irony is that he commutes from Newport on a daily basis because he can't afford to relocate to Worcester!

Falling prices would do him a huge favour.

Weird.

[plummet expert]

I know who wrote that editorial - and the irony is that he commutes from Newport on a daily basis because he can't afford to relocate to Worcester!

Falling prices would do him a huge favour.

Weird.

These sort of people don't understand the damage uncontrolled lending on residential housing does to our economy. It's fake 'wealth' not earnt and it ALWAYS goes wrong in the end. Much better if I was PM and we had proper mortgage controls which meant you would never see a bubble like this one again. Only a natural cyclical fluctuation above and below the line.No more MEW using houses as a personal ATM upsetting our balance of payments and ultimately leading to excess borrowing by govt. Oh God, you've heard that story before............I can't quite remember the war, so this is my substitute.

[erranta]

<br />These sort of people don't understand the damage uncontrolled lending on residential housing does to our economy. It's fake 'wealth' not earnt and it ALWAYS goes wrong in the end. Much better if I was PM and we had proper mortgage controls which meant you would never see a bubble like this one again. Only a natural cyclical fluctuation above and below the line.No more MEW using houses as a personal ATM upsetting our balance of payments and ultimately leading to excess borrowing by govt. Oh God, you've heard that story before............I can't quite remember the war, so this is my substitute.<br />

<br /><br /><br />

You would have to hoBBle the bankers to do that plus make it a criminal offence (min 5 yrs + assets stripped/sold off like drug pedlars) for them to 'lure' gullible sheep to borrow more than they could afford in media/advertising etc