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Rates Hit House Prices Across Europe

The rise in house prices across Europe slowed down in the second half of last year, a new survey has shown.

But the credit crunch was not responsible, according to the Royal Institution of Chartered Surveyors.

Instead, it has said higher interest rates were the main reason for the slowdown.

The situation will continue throughout this year, it says - but it thinks the UK is better placed than most other EU countries to weather the problems.

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I note in the Beebs coverage of this report they refer to the unlucky Irish whose house prices have dropped 7%. Just cant get it out of their heads that rising prices are good and falling are bad can they ?! I'm sure there are thousands/ millions of Irish first time buyers and people who are looking ti trade up just cursing their luck that they will have to borrow even less to make that move / purchase.

What really annoys me too is the way they refer to HPI as growth as though it were something good and not inflation which is exactly what it is ... deliberate brain washing in my humble opinion.

Edited by Bearfacts

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I note in the Beebs coverage of this report they refer to the unlucky Irish whose house prices have dropped 7%. Just cant get it out of their heads that rising prices are good and falling are bad can they ?! I'm sure there are thousands/ millions of Irish first time buyers and people who are looking ti trade up just cursing their luck that they will have to borrow even less to make that move / purchase.

What really annoys me too is the way they refer to HPI as growth as though it were something good and not inflation which is exactly what it is ... deliberate brain washing in my humble opinion.

To quote Yvette Cooper:

Debt IS wealth.

Gosh, how poor is Bill Gates, he probably doesn't have any debts. Or those oil sheiks.

Quick guys, someone had better tell them.

Actually, I don't think a falling market is actually a good thing, in the same way that a rising market is not a good thing.

You will still get people stretching to buy on the way down and scruing themselves forever. And IRs inevitably go up to the borrower, so affordability doesn't improve that much.

However we are where we are and a falling market was inevitable and IRs are responsible because they are soooo high right now. Nothing to do with loose credit and fraud, just high IRs quick get them lowered and we can get back to double digit growth.

Hang on. Is there some kind of rate decision today or perhaps tomorrow?

:lol:

Edit to add:

And another thing. We haven't even got to the stage where we are in the equivalent of the 90s, so why would an institution whose reputation hinges on accuracy spout on about a recession. We aren't in a recession, why WOULD it be as bad?

We are at the start of 1989... or 29, depending on how bad it gets.

Actually, when it does get worse than the 90s, what are they going to say?

"At least it's not as bad as the Dresden bombings" :blink:

Edited by bobthe~

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  • 293 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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