kingofnowhere Posted June 5, 2006 Share Posted June 5, 2006 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 Quote Link to comment Share on other sites More sharing options...
CrashIsUnderWay Posted June 5, 2006 Share Posted June 5, 2006 Wow. A vested interest who can actually see the future! Amazing! He should be on TV. He probably IS a TV. Quote Link to comment Share on other sites More sharing options...
gasket37 Posted June 5, 2006 Share Posted June 5, 2006 (edited) 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 June 5, 2006 by gasket37 Quote Link to comment Share on other sites More sharing options...
Realistbear Posted June 5, 2006 Share Posted June 5, 2006 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 Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted June 5, 2006 Share Posted June 5, 2006 KoN - can you ask them what next weeks lottery numbers will be. Cheers Quote Link to comment Share on other sites More sharing options...
Denzil Posted June 5, 2006 Share Posted June 5, 2006 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.” 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 Quote Link to comment Share on other sites More sharing options...
dnd Posted June 5, 2006 Share Posted June 5, 2006 (edited) KoN - can you ask them what next weeks lottery numbers will be. Cheers IMO VI's are getting increasingly desperate to prop up their portfolios I've also noticed TTRTR isn't posting as much recently.... Edited June 5, 2006 by dnd Quote Link to comment Share on other sites More sharing options...
cupidstunt Posted June 5, 2006 Share Posted June 5, 2006 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.” Well he's hardly likely to say there's a possibility there might be a House price crash is he? Quote Link to comment Share on other sites More sharing options...
CrashIsUnderWay Posted June 5, 2006 Share Posted June 5, 2006 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. Quote Link to comment Share on other sites More sharing options...
sm9ai Posted June 5, 2006 Share Posted June 5, 2006 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. Quote Link to comment Share on other sites More sharing options...
Marina Posted June 5, 2006 Share Posted June 5, 2006 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. Quote Link to comment Share on other sites More sharing options...
Viterbi Posted June 5, 2006 Share Posted June 5, 2006 House prices appear to be falling all over the country. http://www.housepricecrash.co.uk/forum/ind...showtopic=31111 Quote Link to comment Share on other sites More sharing options...
Denzil Posted June 5, 2006 Share Posted June 5, 2006 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. Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted June 5, 2006 Share Posted June 5, 2006 theres nothing worse than 'leading experts' offering blind opinions. when i hear the word expert, i translate it to be - person looking to make money from me somehow. Quote Link to comment Share on other sites More sharing options...
Bear Goggles Posted June 5, 2006 Share Posted June 5, 2006 I reckon there's about a 10% chance that his 10% chance prediction is greater than 10% accurate... ... or possible 11% Quote Link to comment Share on other sites More sharing options...
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