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Realistbear

I M F: Inflated House Prices May Threaten Uk Recovery

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http://www.dailymail.co.uk/news/article-1318361/IMF-Inflated-house-prices-threaten-UK-recovery.html

IMF: Inflated house prices may threaten UK recovery (...but the World Bank praises Osborne)
By Alex Brummer
Last updated at 8:17 AM on 7th October 2010
Britain's economic recovery is at risk because its over-valued housing market faces a ‘double dip’ in prices, the International Monetary Fund
said last night
.
The IMF warned that the country’s house prices are too high and this could lead to people being unable to meet mortgage payments if interest rates rise.
This, in turn, could affect consumer confidence and the UK’s recovery prospects.

Looks like the IMF are at last telling it like it is. HPI is BAD, baaaad to the bone.

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Could be that the IMF and G7/15/243 or whatever have been talking behind closed doors recently and decided that IR increases may be the next move? This could be a warning shot across the UK bows.

It's a bit obvious though, to anyone with half a brain. IR's that take the normal VR or I/O mortgage to 5-6% will be carnage for anyone who bought after 2005. These buyers have been weaned on historically low rates. They know of nothing else. Lambs to the slaughter......that was always the Bank's plan. :ph34r:

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The stench of VI desperation is overwhelming in some of the comments:

Talk's cheap ( cheaper than house prices ).... but come and join me for just a few seconds as we - step out of Disneyworld and...back into reality.

I'm always interested to learn something new.... and I'd appreciate some information - dates and prices - when it was that house prices ( in the UK ) ever CRASHED.

And.... that has to be ' CRASHED ' ... not levelled off - or dipped a bit.... but absolutely ' CRASHED '.

OK.... you dreamers and twaddle merchants.... give us that information.

Remember.... we are talking ' CRASHED '..... ( hilarious ).

Go to it !

In the meantime - BUY NOW - before they rise again !

- Jack Russell.., Yorkshire..England, 7/10/2010 7:59

:blink:

Oh now words fail me here:

9 years ago we bought a house at £195000- it is now priced at £299000 after a 30 % drop - we can afford a slight drop from that but much more and it does not even get us back what we spent improving it. We need to recoup at least the money spent on improvements and any interest we would have got on the money spent as this was our retirement money. We just wont move yet and rent out rooms instead.

I feel most sympathy for the people we see renting rooms who commute every weekend from places like Scotland and dont see family till weekends because they cant sell their houses. Something should be done to help people who have to travel such distances for work.

:angry: Edited by JustAnotherProle

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  • 152 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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