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Realistbear

Bo E's Sentance Says Halifax Figures Just An Anomaly

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http://www.bloomberg.com/news/2010-10-13/sentance-says-bank-of-england-faces-increasing-risk-of-credibility-loss.html

Sentance Says U.K. House-Price Drop a Sign of Volatility

By Scott Hamilton and Svenja O’Donnell - Oct 14, 2010 8:15 AM GMT+0100
Bank of England policy maker Andrew Sentance said the record drop shown in the Halifax house-price gauge last month may show “volatility” instead of heralding a renewed property-market slump.
“For the time being I would regard that move in house prices you saw in the Halifax index, which wasn’t replicated in the Nationwide house-price index, as an indicator of volatility in the market rather than the start of a pronounced downward trend,” Sentance said in response to questions after a speech in London late yesterday.

Phew, for a minute there I thought the bubble was actually in a correction phase. Good thing Halifax data was just a sign of volatility and not something else. Nice of Mr. Sentance to bring calm to the market which should prevent anymore drops.

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All part of the conspiracy between the banks and their boys in government to keep debt and asset prices high and wages depressed. Can't have people casting off their shackles can we.

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http://www.bloomberg...ility-loss.html

Sentance Says U.K. House-Price Drop a Sign of Volatility

By Scott Hamilton and Svenja O'Donnell - Oct 14, 2010 8:15 AM GMT+0100
Bank of England policy maker Andrew Sentance said the record drop shown in the Halifax house-price gauge last month may show "volatility" instead of heralding a renewed property-market slump.
"For the time being I would regard that move in house prices you saw in the Halifax index, which wasn't replicated in the Nationwide house-price index, as an indicator of volatility in the market rather than the start of a pronounced downward trend," Sentance said in response to questions after a speech in London late yesterday.

Phew, for a minute there I thought the bubble was actually in a correction phase. Good thing Halifax data was just a sign of volatility and not something else. Nice of Mr. Sentance to bring calm to the market which should prevent anymore drops.

but if the housing market isn't dropping Mr Sentance can vote for IR rises with a clear conscience!

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It is a crafty tactic by Sentance to get his way over interest rates.

It hardly helps his case to agree that houses prices are falling while asking for a rate rise.

Sometimes the best tactic is to confuse everyone and then implment your policies as every argument against will have been divided and conquered.

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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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