Europa Posted August 16, 2006 Share Posted August 16, 2006 "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 Quote Link to comment Share on other sites More sharing options...
stillLooking Posted August 16, 2006 Share Posted August 16, 2006 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 Quote Link to comment Share on other sites More sharing options...
Cheston Pelvis Posted August 16, 2006 Share Posted August 16, 2006 And six years later look where we are... just goes to show you shouldn't believe everything you see in the news! 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! Quote Link to comment Share on other sites More sharing options...
dnd Posted August 16, 2006 Share Posted August 16, 2006 (edited) 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 Edited August 16, 2006 by dnd Quote Link to comment Share on other sites More sharing options...
frugalstar Posted August 16, 2006 Share Posted August 16, 2006 You would NEVER see a report like this now. What a headline! Quote Link to comment Share on other sites More sharing options...
Europa Posted August 16, 2006 Author Share Posted August 16, 2006 this report is dated March 2000!! Damn you, stillLooking - I was hoping to get a bit of a debate going before anyone spotted that 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? Quote Link to comment Share on other sites More sharing options...
bugged bunny Posted August 16, 2006 Share Posted August 16, 2006 Damn you, stillLooking - I was hoping to get a bit of a debate going before anyone spotted that 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... Quote Link to comment Share on other sites More sharing options...
OzzMosiz Posted August 16, 2006 Share Posted August 16, 2006 Wonder how many BBC journos own BTLs/second homes... A lot I reckon! Quote Link to comment Share on other sites More sharing options...
I'M WITH STUPID Posted August 16, 2006 Share Posted August 16, 2006 (edited) Nationwide seem to struggle with the ars*/elbow conundrum Excellent - You are a breath of fresh air Bit of a girly name though - unless of course you're a no tail Edited August 16, 2006 by I'M WITH STUPID Quote Link to comment Share on other sites More sharing options...
Goat Posted August 16, 2006 Share Posted August 16, 2006 Damn you, stillLooking - I was hoping to get a bit of a debate going before anyone spotted that 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. Quote Link to comment Share on other sites More sharing options...
needle Posted August 16, 2006 Share Posted August 16, 2006 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? Quote Link to comment Share on other sites More sharing options...
adibrown Posted August 16, 2006 Share Posted August 16, 2006 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? Quote Link to comment Share on other sites More sharing options...
Europa Posted August 17, 2006 Author Share Posted August 17, 2006 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. Quote Link to comment Share on other sites More sharing options...
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