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Housing Market Will 'grind To A Halt'

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http://www.thisismoney.co.uk/mortgages/hou..._id=57&ct=5

Housing market will 'grind to a halt'

Sam Fleming, Daily Mail

23 July 2007

The housing market will shudder to a virtual standstill next year as aggressive interest-rate hikes finally start to bite, a leading forecasting group has warned.

Unrelenting rises in house prices are finally expected to halt, dropping from well over 10% today to less than 1% by the end of next year, the Ernst & Young ITEM Club forecasts.

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Oohhh like this bit:

Peter Spencer, the ITEM Club's chief economic adviser, said: 'One thing you can be sure of is the housing boom has got to stop, and we will get whatever level of interest rates is necessary to do that.

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Guest happy?
Aggressive?? Describing them as pusillanimous would be an understatement!

Wow! Not like the Daily Mail to run a house-price crash story whilst there's a Labour government in power - things must be looking really bad.

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to look at this cynically - I have to say that I have noticed a lot more bearish articles recently but I think that a lot of it is simply a reaction to try and influence the BofE to stop raising rates and also to highlight that the VIs dont agree with the policy of the government to build more houses.

Its great to see these headlines, but I think that it is a tactic to encourage the property VIs (EAs, OOs, BTL, RICS, etc) to opose policies and actions that could have a negative impact on house prices.

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Wow! Not like the Daily Mail to run a house-price crash story whilst there's a Labour government in power - things must be looking really bad.

??? Its a tory rag, always has been. Its for tory supporters who need to have an opionon pre digested for them.

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??? Its a tory rag, always has been. Its for tory supporters who need to have an opionon pre digested for them.

more than a faint whiff of sarcasm in his post

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