R I C S Spokesman: Dark Days Ahead And Nothing Can Be Done

[Realistbear]

http://uk.finance.yahoo.com/news/Home-owners-face-repossession-tele-1161803652.html;_ylt=Ak0pC.i19tPqmNVRGrV9kcTSr7FG;_ylu=X3oDMTE4bDQyc2xkBHBvcwM0BHNlYwN5ZmlUb3BTdG9yaWVzBHNsawNob21lb3duZXJzZmE-?x=0

..../

Andrew Grant, a RICS member from Worcester, said: “We are seeing surprisingly low transaction levels which seem to result from a combination of economic fear and harsh mortgage constraints. Prices are also under pressure and slipping back.”

Chris Armstrong, a RICS member based in Wales, said: “The cuts are starting to bite.

I can see very dark months ahead and very little anybody can do about it.”

It comes amid historically low interest rates, which financial experts expect to rise next year amid rising inflation.

Melanie Bien, of mortgage brokers Private Finance, said: “Despite interest rates at record lows, a worrying number of homeowners are struggling to pay their mortgages.

It looks like today will be the day when denial finally died. A day that shall not live in infamy but a day when the priced out shall raise up their voices in a shout that is so loud that the gates of property price hell themselves shall be shaken to their core. The day of victory is not long into the future when every person who is willing to exchange a fair days work for a fair days pay will have the God-given right to a roof over his head. Victory is at hand, let us see it through to its glorious realisation!

I am casting off the mantle of Neitherism to reunite with my brother and sister bears having sacrificed myself, albeit for a few moments relative to the years of struggle that now lay behind us, to become one of the last bears to become disolussioned in order to help the cause.

Onward to victoreh!

[Charlie Don't Surf]

And RB's status goes back to bear!

[@contradevian]

And RB's status goes back to bear!

And you know what that means don't you. Halifax +1.2% in January!

[Realistbear]

I think the pharmacist must have got through with his meds.

Nothing worse than ADHD without your meds.

Needed to have stayed in Spain an extra coupla weeks!

[OnlyMe]

Look on the bright side - credit card borrowing is up.

Oh dear this population has no ******ing hope of ever dealing with the inflation coming down the pipe.

Rather than wiping out a few debtors the central scam bank and an utterly dysfunctional political system has wiped out most of the population.

[IBlewItLastTime]

+1 RB

I was surprised to see it on the BBC, but it does look like capitulation.

[The Masked Tulip]

I am casting off the mantle of Neitherism to reunite with my brother and sister bears having sacrificed myself, albeit for a few moments relative to the years of struggle that now lay behind us, to become one of the last bears to become disolussioned in order to help the cause.

Onward to victoreh!

Are you Italian?

[Laura]

It looks like today will be the day when denial finally died. A day that shall not live in infamy but a day when the priced out shall raise up their voices in a shout that is so loud that the gates of property price hell themselves shall be shaken to their core. The day of victory is not long into the future when every person who is willing to exchange a fair days work for a fair days pay will have the God-given right to a roof over his head. Victory is at hand, let us see it through to its glorious realisation!

I am casting off the mantle of Neitherism to reunite with my brother and sister bears having sacrificed myself, albeit for a few moments relative to the years of struggle that now lay behind us, to become one of the last bears to become disolussioned in order to help the cause.

Onward to victoreh!

I say, steady on RB!

[leicestersq]

And RB's status goes back to bear!

And with it all hope that house prices will ever fall.

[Realistbear]

Are you Italian?

Spanish great-grandmother is the closest I can get.

[deflation]

With inflation just announced as up in all measures (CPI 3.3%, core CPI 2.7%, RPI 4.7%), any house price falls are very 'real' now.

[eric pebble]

Anyone want a

LIAR LOAN?

[p.p.]

And RB's status goes back to bear!

Quick - buy a house!

[The Masked Tulip]

Look at the figures for Wales in the report - they have had amongst the lowest sales in the past 3 months, the highets number of properties per surveyor on books but the silyl sods are amongst the most optimistic that prices will rise as will sales.

http://www.rics.org/site/download_feed.aspx?fileID=8392&fileExtension=PDF

This is a bit of a contradiction isn't it?

Chris Armstrong FRICS, Guy Woodcock &

Company, Deeside, Wales, 01244 817172

- The 'cuts' are starting to bite. I can see

very dark months ahead and very little

anybody can do about it. Market picking

up for the royal wedding.

Here's another contradiction is it not?

Dafydd Hardy MRICS, Dafydd Hardy Y

Gwerthwyr Tai, Llangefni, Ynys Mon,

01248 723322 - There seems to be no

pattern in the market, properties are

selling in every price bracket. Vendors

must negotiate on prices. The market isn't

buoyant at present.

[LiveAndLetBuy]

With inflation just announced as up in all measures (CPI 3.3%, core CPI 2.7%, RPI 4.7%), any house price falls are very 'real' now.

Very 'real' except in terms of affordability (unless we see wage inflation)

[Si1]

And RB's status goes back to bear!

[neil324]

And RB's status goes back to bear!

How long did it last, 2 weeks?

[Realistbear]

Quick - buy a house!

and make our day!

Better watch out, gold may be next on the crash train.

[GordonBrownSpentMyFuture]

[Tonkers]

Chris Armstrong FRICS, Guy Woodcock &

Company, Deeside, Wales, 01244 817172

- The 'cuts' are starting to bite. I can see

very dark months ahead and very little

anybody can do about it. Market picking

up for the royal wedding.

Yipee! Someone's getting married! "Quick darling, lets buy/sell a house"

[Reck B]

Yipee! Someone's getting married! "Quick darling, lets buy/sell a house"

To be fair, it's shot in at number one in the "Reasons To Buy A House" chart this week.

1) To celebrate the Royal Wedding (new entry)

2) To lose lots of money <>

3) To shackle yourself to a bankrupt UK \/

4) To experience negative equity like your parents <>

5) To pay massive amounts of interest to banks /\

6) So you can paint the walls and hang pictures \/

7) To avoid missing the boat /\

8) 'cos rentings for losers <>

9) baaaaaaaaa \/

10) Marital pressure \/

[Tonkers]

To be fair, it's shot in at number one in the "Reasons To Buy A House" chart this week.

1) To celebrate the Royal Wedding (new entry)

2) To lose lots of money <>

3) To shackle yourself to a bankrupt UK \/

4) To experience negative equity like your parents <>

5) To pay massive amounts of interest to banks /\

6) So you can paint the walls and hang pictures \/

7) To avoid missing the boat /\

8) 'cos rentings for losers <>

9) baaaaaaaaa \/

10) Marital pressure \/

Hovering in the top twenty 'because I just loved that vase of twigs'

[Caveat Mortgagor]

Bugger, not been on HPC all morning and I've obviously missed the 'TRIGGER'?

What was it? I cant see the thread. Has it been moved to 'off topic'???

Edited December 14, 2010 by Caveat Mortgagor

[the flying pig]

Bugger, not been on HPC all morning and I've obviously missed the 'TRIGGER'?

What was it? I cant see the thread. Has it been moved to 'off topic'???

IMO HPC probably does need a 'trigger', a key change or event, but of course this trigger might not have an immediate impact. A pin stuck into a full paddling pool has a very different effect to one stuck into a balloon but is no less a trigger for all the air to leave it, albeit at a very different pace.

[Hyperduck Quack Quack]

The trouble is that although the padding pool has a hole in it, there's still someone pumping air into it. Only when the hole, or holes, in the pool get big enough will the pool deflate.

Edited December 14, 2010 by Hyperduck Quack Quack