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kingofnowhere

Chance Of House Price Fall

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http://business.timesonline.co.uk/article/...2206820,00.html

What if house prices crash by 40 per cent?

Few economists expect a crash, but the combination of a falling dollar and rising oil prices could force American interest rates higher, triggering a global recession and undermining confidence in the housing market. Greg Fuzesi, of Nationwide, says: “The chance that house prices will be lower in two years’ time is less than 10 per cent.”

Should prices fall, the biggest risk is negative equity, when mortgage debt is greater than the value of a property. But Bernard Clarke, of the Council of Mortgage Lenders, says that this is only a problem if you need to move.

“If you can afford the repayments, just sit tight until prices recover,” he says. “Otherwise, you need to have a discussion with your lender as soon as possible. Banks will do all they can to help people to stay in their homes

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a link to any peer reviewed academic research on this one???

or just some random number "greg" pulled out of his ar.se?

thought not...

Edited by gasket37

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According to the ODPM prices in my area for detached houses dropped 8.2% last Q. The chances that they will be even lower in a couple of years looks good to me. In fact, at the current rate of decline I would say a 10% fall by the end of this year is a virtual certainty.

Stratford-On-Avon £328,827 -8.2% (Annual: -8.8%)

http://news.bbc.co.uk/1/shared/spl/hi/in_d...html/44uf.stm?d

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http://business.timesonline.co.uk/article/...2206820,00.html

Greg Fuzesi, of Nationwide, says: “The chance that house prices will be lower in two years’ time is less than 10 per cent.”

:blink:

Now if he had sadi 70% instead of 10 it would have read Greg Fuzesi, formally with Nationwide, says: “The chance that house prices will be lower in two years’ time is less than 10 per cent.”

Doh

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KoN - can you ask them what next weeks lottery numbers will be. Cheers :blink:

:lol::lol::lol::lol:

IMO VI's are getting increasingly desperate to prop up their portfolios

I've also noticed TTRTR isn't posting as much recently....

Edited by dnd

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:lol::lol::lol::lol:

IMO VI's are getting increasingly desperate to prop up their portfolios

I've also noticed TTRTR isn't posting as much recently....

He's busy.

Looking for a job to bring in some income so he can continue subsidizing his tenants as well as feeding his squalling chinless brood of scandibabies.

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At least they are mentioning the is a 1 in 10 chance that prices will fall.

Its infinitly better than saying the prices will never fall like it has been.

Looks like doubt is creeping in.

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:blink:

Now if he had sadi 70% instead of 10 it would have read Greg Fuzesi, formally with Nationwide, says: “The chance that house prices will be lower in two years’ time is less than 10 per cent.”

Doh

Actually, it would have said 'Greg Fuzesi, formerly with Nationwide.'

Unless, of course, he was currently employed on an informal basis and, as a result of a wild prediction, had his employment moved onto a more formal basis.

I know everyone slags people off who correct things in forums. But I don't care and can't help myself. I sometimes feel compelled to correct the failings of a generation of teachers.

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Actually, it would have said 'Greg Fuzesi, formerly with Nationwide.'

Unless, of course, he was currently employed on an informal basis and, as a result of a wild prediction, had his employment moved onto a more formal basis.

I know everyone slags people off who correct things in forums. But I don't care and can't help myself. I sometimes feel compelled to correct the failings of a generation of teachers.

I was just testing ;)

It's fair to say I'm not a Monday morning person.

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  • 339 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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