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Realistbear

Guardian: Some Properties Were Now Worth Less Than A Year Ago

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http://money.guardian.co.uk/businessnews/s...2085480,00.html

Has Foxtons' Hunt called the top of the market?
Vote now: have house prices peaked?
Julia Finch
Tuesday May 22, 2007
Guardian Unlimited
Last week property company Land Securities warned that the UK commercial property market had peaked and there were signs of a slowdown.
Chief executive Francis Salway said some properties were now worth less than a year ago and warned: "This is a big deal."
Could it be we are witnessing the first signs of a similar-sized "deal" in the residential property market? Yesterday the British Bankers Association released figures showing a downturn in mortgage demand. Underlying net mortgage lending was up just £5bn in the last month, down on the previous month and on the recent monthly average of £5.4bn. And the Rightmove house price index reported an increase of just 0.4% in asking prices, the lowest this year.
...../

Press a bit bearish lately. Times, Telegraph and now the Guardian. What next--the Sun?

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Press a bit bearish lately. Times, Telegraph and now the Guardian. What next--the Sun?

NOT JUST YET,THAT'S WHEN MOP-UP-TIME BEGINS!!!!!!.....yum!!!

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