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The Masked Tulip

Us House Prices Fall To Lowest Level For Nine Years

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US house prices fall to lowest level for nine years

http://www.bbc.co.uk/news/business-12808096

A report on US house sales has said that prices fell by 5.2% in February to their lowest in almost nine years.

The National Association of Realtors said sales of previously occupied homes fell to a seasonally adjusted annual rate of 4.88 million.

That is down 9.6% from 5.4 million in January, and far below the 6 million level that economists regard as a healthy market.

The average price of a previously-owned home is now $156,100 (£96,000).

Millions of home repossessions have forced down home prices and more are expected this year as continuing high unemployment takes its toll.

There is also a glut of unsold homes on the market, which is holding back recovery.

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wish it would happen here

Shall we just buy some plane tickets and sod off there now?

Columbus Ohio is apparently considered one of the finest places to live in America for both cost and quality of life. Lots of tech companies relocating there. Best to get in before it becomes a bubble.

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Shall we just buy some plane tickets and sod off there now?

Columbus Ohio is apparently considered one of the finest places to live in America for both cost and quality of life. Lots of tech companies relocating there. Best to get in before it becomes a bubble.

If you are buying from sterling US house prices havent actually fallen any further than UK prices

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If you are buying from sterling US house prices havent actually fallen any further than UK prices

Yep, that is quite gutting, but they are still much cheaper and much bigger than UK houses.

I'm still not sure I would actually want to live in the States, even if I could get a greencard and a job.

Edited by WageslaveX14

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Yep, that is quite gutting, but they are still much cheaper and much bigger than UK houses.

I'm still not sure I would actually want to live in the States, even if I could get a greencard and a job.

Gaddafi has more chance of getting a green card than the average Brit.

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Shall we just buy some plane tickets and sod off there now?

Columbus Ohio is apparently considered one of the finest places to live in America for both cost and quality of life. Lots of tech companies relocating there. Best to get in before it becomes a bubble.

sounds a good plan, f k' all here now

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It will

It won't, at least not nominally <_<

Printy printy + ZIRP + SMI + lots of inflation is seeing to that.

The fact that the government considers you worthy of benefits if you earn less than £40k a year shows how much this bubble is being kept inflated.

Edited by exiges

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http://www.bbc.co.uk/news/business-12808096

A report on US house sales has said that prices fell by 5.2% in February to their lowest in almost nine years.

The National Association of Realtors said sales of previously occupied homes fell to a seasonally adjusted annual rate of 4.88 million.

That is down 9.6% from 5.4 million in January, and far below the 6 million level that economists regard as a healthy market.

The average price of a previously-owned home is now $156,100 (£96,000).

Millions of home repossessions have forced down home prices and more are expected this year as continuing high unemployment takes its toll.

Average house price of £96,000. Now that actually sounds about right.

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It won't, at least not nominally <_<

Printy printy + ZIRP + SMI + lots of inflation is seeing to that.

The fact that the government considers you worthy of benefits if you earn less than £40k a year shows how much this bubble is being kept inflated.

time will tell

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time will tell

from the article:

"Millions of home repossessions have forced down home prices and more are expected this year as continuing high unemployment takes its toll."

That's why it's not going to happen here. The government will first bankrupt itself... Sadly, high house prices are the main religion of the UK in the 21st century.

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from the article:

"Millions of home repossessions have forced down home prices and more are expected this year as continuing high unemployment takes its toll."

That's why it's not going to happen here. The government will first bankrupt itself... Sadly, high house prices are the main religion of the UK in the 21st century.

time will tell

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from the article:

"Millions of home repossessions have forced down home prices and more are expected this year as continuing high unemployment takes its toll."

That's why it's not going to happen here. The government will first bankrupt itself... Sadly, high house prices are the main religion of the UK in the 21st century.

sadly i agree

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sadly i agree

sadly so do i

with the UK is going to default bit, which makes house prices pretty immaterial at least they will in those conditions

Edited by Tamara De Lempicka

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Wish we had the huge volume of surplus housing that would allow it to happen here.

i dont think its the surplus, theres probably 1000s on right move, i think the US having a property tax is a far bigger factor, otherwise they could just hoard it like the UK

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i dont think its the surplus, theres probably 1000s on right move, i think the US having a property tax is a far bigger factor, otherwise they could just hoard it like the UK

I think that being able to post the keys back to the bank and walk away has also been a massive factor.

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it's only in 20 states

Alaska

Arizona

Arkansas

California

Colorado

District of Columbia (Washington DC)

Georgia

Hawaii

Idaho

Mississippi

Missouri

Montana (as long as non-judicial foreclosure is used)

Nevada - note that the lender CAN get a deficiency judgment (See below)

New Hampshire

Oregon

Tennessee

Texas (but even in a non-judicial foreclosure, the lender can pursue a deficiency judgment)

Virginia

Washington

West Virginia

only?

and of the 50 states how do these 20 fare when it comes to falling prices? :)

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  • 312 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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