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"Double dip fears for house prices"

awesome! - thats mainstream enought for me, it is under the nose of pretty much every commuter in and around lahndan

sorted

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Brilliant. Make sure you grab a wad and leave them strategically around the tube and the trendy wine bars and such.

Also if you're anywhere near the Express offices stick one on their front doors

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Ah but our friends at the Express say house prices rising £91 a day as the headline :lol::lol: , seriously this paper has lost all credibility with its ramping of house prices

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just noticed the excellent advert also splashed on the front page... it's for Old Spice, it says

"Smell like a power chord (in the key of man)"

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and Cardiff

"Oh.... Daily Express......people like you makes me sick... you perverted piece of s**t"

Edited by sbn

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"Double dip fears for house prices"

awesome! - thats mainstream enought for me, it is under the nose of pretty much every commuter in and around lahndan

sorted

What is sorted? Do you really believe that there will be a major crash so that prices come back to normal level soon? Is it not more likely that there will be a slow and painful correction in real terms with nominal prices rising but not as fast as wages for a decade or so.Who benefits from that?

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Ah but our friends at the Express say house prices rising £91 a day as the headline laugh.giflaugh.gif , seriously this paper has lost all credibility with its ramping of house prices

JTFC! I thought you were joking!!! The strap line is "A semi has risen 111% in ten years". I think these property ramping headlines are some sort of an inhouse joke at the Express. wink.gif

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What is sorted? Do you really believe that there will be a major crash so that prices come back to normal level soon? Is it not more likely that there will be a slow and painful correction in real terms with nominal prices rising but not as fast as wages for a decade or so.Who benefits from that?

The current widespread expectation of price falls caused by factors such as restricted mortgage lending and public sector job losses will make buyers hold back from buying, no such thing as a forced buyer (few will be buying with the expectation of a cheaper price by waiting), but plenty of reasons to be needing to sell (death, divorce, debt). This same mechanism worked to produce the 20%+ falls in 18 months in 2007-2009, no reason why it won't happen swiftly again now that sentiment has turned, fear will rule again!

Perhaps a study of market psychology will lift you from your 'amateur' status. :P

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What is sorted? Do you really believe that there will be a major crash so that prices come back to normal level soon? Is it not more likely that there will be a slow and painful correction in real terms with nominal prices rising but not as fast as wages for a decade or so.Who benefits from that?

Bl00dy 'ell

I dont believe it, another lurker from the depths!!!

Last night, one of your lot surfaced for air on another thread, 43 posts in 5 years he had. Now THATS lurking!!

Your post rate of 2.3 a month is respectable for a deep water lurker - but he got you beat I'm afraid!

Oh yes, in answer to your question, look at the the graph on the front page - do you really think its gonna ramp gently downward from here?

Any fall in prices, real or nominal helps me like it helps other bu66er in this country who didn't expect money for nothing. Helps the economy too.

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What is sorted? Do you really believe that there will be a major crash so that prices come back to normal level soon? Is it not more likely that there will be a slow and painful correction in real terms with nominal prices rising but not as fast as wages for a decade or so.Who benefits from that?

Ah...depends on whether you believe wages will in fact rise. I can't see wage inflation to mask nominal price falls for a good few years.

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http://www.metro.co.uk/news/839631-double-dip-fears-for-uk-house-prices

Double dip fears for UK house prices

Mortgage lending dived sharply last month to its second lowest level since records began, sparking renewed fears of a double dip in house prices.

house down a drain Double dip recession predicted for the UK housing market

Net lending totalled just £86million during July – a steep fall from June’s £518million, according to the Bank of England.

The number of mortgages approved for buying a home edged ahead slightly to 48,722, well down on the levels of more than 100,000 a month seen in the housing boom.

Analyst Andrew Goodwin said: ‘This morning’s figures provide further confirmation that the housing market is heading for a double dip, with net mortgage lending pretty much flat and the number of mortgage approvals remaining very low.’

Net lending, which strips out loans which have been repaid or redeemed, was the second lowest figure since Bank records began in 1993, although there have also been two months when the figure was negative.

The number of approvals was also well down on November’s recent high of just over 59,000, as the housing market failed to benefit from its traditional summer bounce.

Credit card borrowing and other loans were also subdued. Separate figures from building societies showed their net lending also shrank, with customers paying back £379million more than they borrowed.

They also withdrew £1.3billion more from their savings accounts than they paid in.

Economist Howard Archer from IHS Global Insight said house prices would fall by about three per cent during the second half of this year and by about five per cent in 2011.

He added: ‘Housing market data and survey evidence has been consistently downbeat recently and this is no exception.’

Also on the blog: http://www.housepricecrash.co.uk/newsblog/2010/09/blog-the-picture-accompanying-the-article-is-brilliant-30052.php

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The current widespread expectation of price falls caused by factors such as restricted mortgage lending and public sector job losses will make buyers hold back from buying, no such thing as a forced buyer (few will be buying with the expectation of a cheaper price by waiting), but plenty of reasons to be needing to sell (death, divorce, debt). This same mechanism worked to produce the 20%+ falls in 18 months in 2007-2009, no reason why it won't happen swiftly again now that sentiment has turned, fear will rule again!

Perhaps a study of market psychology will lift you from your 'amateur' status. :P

If the factors that led to those falls are allowed to take hold then that will indeed happen. Last time, dimwit Brown was asleep on the job and took a year or so to organise measures to put a hp crash on hold. The measures are now in place if the current Government wants to use them but, and it's a big but, the incentive to use them may no longer be there. Everyone knows UK property is at least 30% overvalued and must come down to affordable levels in order that people can buy and sell. It is not, IMO, in anyones interest , particularly the Governments to let this drag on for many years. As with the cuts needed to reduce the defecit, better to go for big bang and get the pain out of the way in the short term and then hope that by 2015 the economy and house prices have bottomed out and normality in terms of sustainable growth has returned. Either that or they lose their nerve and you may as well have kept Brown for the next 5 years.

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As with the cuts needed to reduce the defecit, better to go for big bang and get the pain out of the way in the short term and then hope that by 2015 the economy and house prices have bottomed out and normality in terms of sustainable growth has returned. Either that or they lose their nerve and you may as well have kept Brown for the next 5 years.

Thing is, are they willing to risk losing the votes of those homeowners (with mortgages paid off or still paying them) who find in 2015 that their house is not "worth" what it was when the coalition took power? Will they really bite that particular bullet?

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Thing is, are they willing to risk losing the votes of those homeowners (with mortgages paid off or still paying them) who find in 2015 that their house is not "worth" what it was when the coalition took power? Will they really bite that particular bullet?

Who knows? Will they really cut like people THINK they will? I guess it boils down to what you think Toff and Toffer want to be remembered for. Balancing the books or being in power in a depression the like of which the UK has not seen in a generation. The Tories want to roll back the state and give tax cuts to the rich (so far they have done exactly that) and mini-Toff seems to want to destroy the Lib Dems and remove them from UK politics for ever (as per King's prophesy).

House prices will, IMHO, halve relative to other aspects of people's live, whether that be wages or prices. I remain 80% confident we are heading for a short sharp correction and a long drawn out slump, but things could change and change fast.

I honestly don't think I have the measure of the government yet - they don't really seem to me to have found their true direction.

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Thing is, are they willing to risk losing the votes of those homeowners (with mortgages paid off or still paying them) who find in 2015 that their house is not "worth" what it was when the coalition took power? Will they really bite that particular bullet?

If they don`t get a handle on things and make it possible for the young to aspire to anything more than shelf stacking and living at home, then you won`t be safe in your expensive house, in your car or out in the street. The homeownerists have had their run and now they take their hit, I can`t see any real reason to keep trying to prop the housing market, and I can`t see any realistic way it can be done long term? Someone who bought a long time ago will just accept that they are no longer rich on paper and be glad they have a paid for home, they will still work if they can and pay taxes, they won`t riot, the government know this well, also people vote for more than HPI?

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Speaking of front pages,

cowattack.jpg

Perhaps the threat of further cow attacks will finally crash house prices in my neck of the woods.

I dont believe it, another lurker from the depths!!!

Last night, one of your lot surfaced for air on another thread, 43 posts in 5 years he had. Now THATS lurking!!

Your post rate of 2.3 a month is respectable for a deep water lurker - but he got you beat I'm afraid!

If you're making a spreadsheet, I'm on at about 2.6 posts per month.

Edited by happily renting

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If they don`t get a handle on things and make it possible for the young to aspire to anything more than shelf stacking and living at home, then you won`t be safe in your expensive house, in your car or out in the street. The homeownerists have had their run and now they take their hit, I can`t see any real reason to keep trying to prop the housing market, and I can`t see any realistic way it can be done long term? Someone who bought a long time ago will just accept that they are no longer rich on paper and be glad they have a paid for home, they will still work if they can and pay taxes, they won`t riot, the government know this well, also people vote for more than HPI?

I'm not suggesting they should prop up house prices, I'm just wondering aloud whether they'll be prepared to see them fall substantially.

I can't help recalling what John Redwood said in his blog in early April:

"I went on from the supermarket to talk to a group of senior managers from a wide range of businesses. They too raised the house price issue. One of them recommended creating the conditions for a further subtsantial house price fall because he was worried about affordability. The others, all home owners, thought this a dreadful idea. They asked what the political parties thought. I said the parties thought there were a lot of home owners out there!"

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There's a whole Centre in Gateshead. Called the "Meh-roow Cen-ah" or something like that.

I'm ganning thear on sat'ahdeeh like to look at fat people, basically.

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Bl00dy 'ell

I dont believe it, another lurker from the depths!!!

Last night, one of your lot surfaced for air on another thread, 43 posts in 5 years he had. Now THATS lurking!!

Your post rate of 2.3 a month is respectable for a deep water lurker - but he got you beat I'm afraid!

Oh yes, in answer to your question, look at the the graph on the front page - do you really think its gonna ramp gently downward from here?

Any fall in prices, real or nominal helps me like it helps other bu66er in this country who didn't expect money for nothing. Helps the economy too.

there are a few of us lurkers in those deep waters!

i saw the metro this morning and figured there would be a thread on it so just came for a nosey really...

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there are a few of us lurkers in those deep waters!

i saw the metro this morning and figured there would be a thread on it so just came for a nosey really...

F00000000K ME !!!!!

You make the others look like regulars!!!!

You must be one of those deep, deep, deep sea lurkers

Your like one of those weird things that comes up hanging off the back of a research bathysphere, Eyes all bulging and guts hanging out because of the pressure difference. The sort of thing a marine biologist picks up with a stick and thinks

"Strewth I don't know if thats a plant, an animal, a fungus or just a bogey - I'm gonna fling it back before somebody makes me classify it"

I am truly honoured to add you to my collection.

Speak again next year. TTFN.

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  • 140 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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