Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

Welsh National Website Posts Hpc Warning

Recommended Posts

http://icwales.icnetwork.co.uk/0300busines...-name_page.html

icWALES

The National Website of Wales

Troubled times - even recession - ahead

Apr 22 2006

Western Mail

THE housing market could still enter a "vicious circle" of falling prices as soaring levels of personal debt and high fuel bills finally convince consumers they can't borrow any more money, claims a leading economist.
Writing in Moneyweek magazine, economist and stockbroker James Ferguson says surveys from lenders like Nationwide and Halifax claiming prices are still rising give a
misleading impression of what is going on - partly because "houses that can't sell, or won't sell, don't appear in the data until later".
However, Jonathan Haward, at Truro, Cornwall-based County Homesearch, which tracks down higher priced homes for people too busy to look for themselves, says, "I share some of the sentiments of this warning. Providing interest rates don't go up, the market should remain steady.
"Rising rates would have an impact on the market, because many are over-geared. The property market has been so strong for so long it probably has to slow down for a period, just to catch up with itself."
Mr Haward says his team have negotiated
10- 15 % reductions
on asking prices in some areas recently - although "realistic vendors ask a sensible price to start with."

Someone in Wales evidently takes this stuff seriously? Warning lights flashing everywhere lately.

Share this post


Link to post
Share on other sites

The other recent warning:

http://www.in2perspective.com/nr/2006/04/a...le-to-burst.jsp

'Most Americans expect housing bubble to burst'

By Laurie Osborne, Editor

Published 22nd Apr 2006, (a Saturday) at 08:00AM

Many Americans believe that the 'housing bubble' will burst at some point during the coming year, according to the latest Experian/Gallup Personal Credit Index survey.
Seventy-one percent of consumers believe it is very likely
(24%) or somewhat likely (47%) that housing prices will collapse in housing markets across the nation as a whole within the next year, according to the survey.

Share this post


Link to post
Share on other sites

http://icwales.icnetwork.co.uk/0300busines...-name_page.html

icWALES

The National Website of Wales

Troubled times - even recession - ahead

Apr 22 2006

Western Mail

THE housing market could still enter a "vicious circle" of falling prices as soaring levels of personal debt and high fuel bills finally convince consumers they can't borrow any more money, claims a leading economist.
Writing in Moneyweek magazine, economist and stockbroker James Ferguson says surveys from lenders like Nationwide and Halifax claiming prices are still rising give a
misleading impression of what is going on - partly because "houses that can't sell, or won't sell, don't appear in the data until later".
However, Jonathan Haward, at Truro, Cornwall-based County Homesearch, which tracks down higher priced homes for people too busy to look for themselves, says, "I share some of the sentiments of this warning. Providing interest rates don't go up, the market should remain steady.
"Rising rates would have an impact on the market, because many are over-geared. The property market has been so strong for so long it probably has to slow down for a period, just to catch up with itself."
Mr Haward says his team have negotiated
10- 15 % reductions
on asking prices in some areas recently - although "realistic vendors ask a sensible price to start with."

Someone in Wales evidently takes this stuff seriously? Warning lights flashing everywhere lately.

May the dragons tongue burn the homes of the outsiders

Edited by BubblesBurst

Share this post


Link to post
Share on other sites

Seems like the majority of the UK media will spinning the other way. Good times ahead, must get on the property bandwagon, there has never been a better time to buy etc...

I wonder what the real feeling is among people trying to sell at the moment in the less popular areas?

Share this post


Link to post
Share on other sites

He urges investors to "sell any investment property unless it delivers a very powerful income stream". Anecdotal evidence, he believes, shows some "off plan" investors are "returning keys to the mortgage lender rather than facing a rental stream that doesn't cover mortgage interest, now that capital gains are a pipedream

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.