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Citigroup Forecast Hpi Of 0% For 2008

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From article in the Times:

Michael Saunders, chief economist at Citigroup, warned of the impact on housing " we expect housing turnover to fall by about 20% from recent levels and house price inflation to fall to zero in the next year" .

Trouble is, Michael old boy, no one with half a brain is going to invest in property if HPI is 0% and there are no FTBs left to fill the gap so the only way is down. As RB said the housing market is like a shark, it must keep moving forward or it dies. MS has just forecast no further forward momentum - the prognosis for the housing market is therefore death.

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From article in the Times:

Michael Saunders, chief economist at Citigroup, warned of the impact on housing " we expect housing turnover to fall by about 20% from recent levels and house price inflation to fall to zero in the next year" .

Trouble is, Michael old boy, no one with half a brain is going to invest in property if HPI is 0% and there are no FTBs left to fill the gap so the only way is down. As RB said the housing market is like a shark, it must keep moving forward or it dies. MS has just forecast no further forward momentum - the prognosis for the housing market is therefore death.

http://www.housepricecrash.co.uk/forum/ind...showtopic=55235

lol great minds.

Is it his or citi's view?

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http://www.housepricecrash.co.uk/forum/ind...showtopic=55235

lol great minds.

Is it his or citi's view?

The article doesnt say but I am assuming it is the view of Citigroup as he is their chief economist. Aren't citigroup the wrolds biggest bank or one of at least ? do you think they might be a little more cautious with their own lending now ?!

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This must be the soft landing we keep hearing about...

The shark theory sounds more realistic though...with no more "capital growth" to subsidise the BTL crowd's losses, surely some will sell. Also, maybe more FTBs will "wait and see" rather than than continuing to rush in fearing prices can only increase.

Interesting times ahead.

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The article doesnt say but I am assuming it is the view of Citigroup as he is their chief economist. Aren't citigroup the wrolds biggest bank or one of at least ? do you think they might be a little more cautious with their own lending now ?!

Citi are 2nd biggest to ICBC - China :ph34r:

I am sure citi are being very careful with any lending right now, as sterling libor hits 6.8%!

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Somebody just posted a link to the bloody Research, where is it people it is a citifx research with loads of comparisons between Dow Jones charts for the previous two crashes in 80's & 90's ...where is it?

All I can remember is Goldfinger comment or something...

This article is about the Document

http://www.straightstocks.com/current-mark...ng-a-dow-crash/

This ends with:

Bottom line we hold our view that these are trying times and that the worst is not over. We also hold our view that lower yields will...

I was looking at the PDF doc after clicking a link, but i lost the link and lost the history, lost everything related...sorry, if anyone remember this document, pls. post the link again.

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Citi are 2nd biggest to ICBC - China :ph34r:

I am sure citi are being very careful with any lending right now, as sterling libor hits 6.8%!

Citigroup are 2nd biggest credit derivatives player in the world, so you could say Citi is already in the sh1ty

Perhaps thats why they have such trouble sleeping?

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This is big news. nice find(s)

Q3 2007: This is when the real fun and games will begin ;)

It started in Q1 2007. The peak was in Q2/Q3 2006.

Youre making the mistake thats its happening just because youre only hearing about it now in the mainstream media.

Edited by needle

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