N W Confidence Survey: At "depths Seldom Seen Outside Of Actual Recession".

[Realistbear]

http://uk.finance.yahoo.com/news/House-price-rise-checked-tele-326021821.html?x=0

House price rise checked by confidence at recession levels

9:18, Thursday 31 March 2011

House prices edged up in March but this was unlikely to mark the beginning of a strong upturn for the market, said the Nationwide as consumer confidence stagnated at "depths seldom seen outside of actual recession".

The 0.5pc increase, which marked the third monthly increase in four months, left the average home costing £164,751.

While, the three-month-on-three-month measure of house prices, which is regarded as a better measure of the underlying trend, also showed a modest rise of 0.6pc.

People just don't belive the upbeat news anymore because they see and feel a darker reality. House prices cannot rise if sentiment is tanking, credit is vanishing along with jobs and austerity is raging.

The HPC is still on, if not stronger than ever.

[rantnrave]

In the bigger picture, this could be more important news than the Nationwide data.

[Pent Up]

This actually showed a 4 point drop in peoples willingness to make major purchases.

[Bloo Loo]

This actually showed a 4 point drop in peoples willingness to make major purchases.

perhaps they have an aversion to being humiliated in the EAs office when they are told they have been rejected for a loan...again...

this is a serious blow to ones self esteem, and EAs, should be forced to employ counsellors.