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http://news.bbc.co.uk/1/hi/business/5118558.stm

"New home sales remain strong in the US, figures show, suggesting that successive interest rate rises have yet to subdue the property market."

more IR hikes to come then

Typical BBC report. New homes are selling because builders are moving the bricks off the lot. Discounting and incentives are at all time records. Builders know what is coming.

The overall picture in the US is as many have reported--tanking with an overall drop of over 4% in just one month:

http://orange.advfn.com/news_Sales-of-new-...y_15912429.html

The Commerce Department reported that sales of new single-family homes

increased by 4.6 percent in May to a seasonally adjusted annual rate of 1.234

million units.
The median price of homes sold did decline to $235,300, a drop of

4.3 percent from the April sales price.

Economists believe that the huge backlog of unsold homes will put further

downward pressure on prices in coming months.

If the VIs started reporting actual sales declines by reference to median prices the UK would be reporting the same kinds of figures. By keeping to hypothetical "asking prices" it is easier for the VIs to manipulate data and present a rosier picture than reality.

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  • 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%



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