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Warning Of House Price Collapse - Bbc

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this report is dated March 2000!!

"At the current inflation rate, house prices could rise to unsustainable levels in 12-18 months. A rapid slowdown could then follow", Nationwide told the BBC.

"In some areas, such as London, prices could already be above their long-term sustainable level."

Here's the link

http://news.bbc.co.uk/1/hi/business/696324.stm

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And six years later look where we are... just goes to show you shouldn't believe everything you see in the news! :lol:

The average price of a house in the UK has now risen to £79,393 - up more than £10,000 on the price recorded in March 1999.

Ah, those were the days!

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David Parry of the Nationwide said the Bank of England should resist calls to increase interest rates in an attempt to take the heat out of the housing market.

Huh? - this would turn UP the heat on house inflation....

EDIT: yep, 2000 report - I was right :lol:

Edited by dnd

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this report is dated March 2000!!

Damn you, stillLooking - I was hoping to get a bit of a debate going before anyone spotted that :P

That aside, I was making a serious point - anyone who took Nationwide's comments seriously in 2000 would have just cause to feel a bit miffed.

Given that Nationwide seem to struggle with the ars*/elbow conundrum, should we feel bad about getting it wrong?

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Damn you, stillLooking - I was hoping to get a bit of a debate going before anyone spotted that :P

That aside, I was making a serious point - anyone who took Nationwide's comments seriously in 2000 would have just cause to feel a bit miffed.

Given that Nationwide seem to struggle with the ars*/elbow conundrum, should we feel bad about getting it wrong?

Now, if I was wearing my consipiracy theorist's hat I'd say that the report's negative spin was to put off FTBs so that they made way for BTLers to buy up vast swathes of FTB property.

Nowadays the spin is unrealistically positive in an attempt to keep FTBs in the market to prop it up after the clued up BTLers have mostly stopped buying.

Wonder how many BBC journos own BTLs/second homes...

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Nationwide seem to struggle with the ars*/elbow conundrum

:lol::lol::lol: Excellent - You are a breath of fresh air

Bit of a girly name though - unless of course you're a no tail :)

Edited by I'M WITH STUPID

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Damn you, stillLooking - I was hoping to get a bit of a debate going before anyone spotted that :P

That aside, I was making a serious point - anyone who took Nationwide's comments seriously in 2000 would have just cause to feel a bit miffed.

Given that Nationwide seem to struggle with the ars*/elbow conundrum, should we feel bad about getting it wrong?

Which just goes to show that Nationwide's predictions for HPI are complete guesses.

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Which just goes to show that Nationwide's predictions for HPI are complete guesses.

Good point.

From the same article 'David Parry of the Nationwide said the Bank of England should resist calls to increase interest rates in an attempt to take the heat out of the housing market.'

So there shouldn't be a problem with interest rates going up now, right?

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Good point.

From the same article 'David Parry of the Nationwide said the Bank of England should resist calls to increase interest rates in an attempt to take the heat out of the housing market.'

So there shouldn't be a problem with interest rates going up now, right?

Wasnt the base rate around 6% then though?

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Wasnt the base rate around 6% then though?

Yep - started year at 5.75pc, ended at 6pc. The following year, rates fell from 5.75pc to 4pc.

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  • 302 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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