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Realistbear

Nationwide: Confidence At "all Time Low" In February

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This is all the result of doom and gloom in the press. If they had something better to write about everything would be fine. Don't they realise that they are costing homeowners money with all these irresponsible, negative, articles?

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Yep this is supposed to be the peak buying month of the year.Last year 30% of stocks were sold in my area,this year it is a desperate 15% .The only positive for sellers is that casuals are just giving up realising for certain property types you haven't got a cat in hells chance of selling unless you capitulate on price thus restricting the volumes on EAs books.

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Looks like they've all pretty much been in a downward trend since 2004

CONSUMER CONFIDENCE FALLS THREE

POINTS

• Confidence levels dropped to an all time low

in February*

• The Expectations Index was the only

measure to remain static at 79

RELUCTANCE TO SPLASH OUT ON MAJOR

PURCHASES

• Just 11% of consumers are confident that

now is a good time to make a major

purchase – down from 23% at the same

time last year

HOUSE PRICE EXPECTATIONS FALL

• Consumers expect house prices to fall by

-1.1% over the coming six months – down

from -0.2% in January.

*The NCCI Index was first published in May 2004.

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Stop talking ourselves into a recession!!!!!

It is often said that "its all in the mind." I am thinking very bearish right now.

I would describe the majority of the sheeple as "fearful" at this stage of the crash.

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What I want to know is why is Fionululaala not fronting this report. This Martin Gahbauer seems to be "doing" every other report now. He did the first Q-on-Q price fall report while "our Fi" was off skiing.

I'm going to be SO pi55ed off if it's not her dulcit tones I hear in April on the Today Programme explaining that although house prices fell Y-on-Y the "fundamentals are still sound" and there is "plenty of pent-up demand".

Edited by Paddles

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This is all the result of doom and gloom in the press. If they had something better to write about everything would be fine. Don't they realise that they are costing homeowners money with all these irresponsible, negative, articles?

Please change your 'Neither' to 'VI Idiot'.

Thank you very much...

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I would describe the majority of the sheeple as "fearful" at this stage of the crash.

Based on what - the stats? You know what is said about those...

Can you let me know what portion of the population fall into the "sheeple" category? Perhaps it's just the sufacing of human nature, to think one better than everyone else?

Note to self - make sure the next census contains "sheeple" tick box :-)

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This is all the result of doom and gloom in the press. If they had something better to write about everything would be fine. Don't they realise that they are costing homeowners money with all these irresponsible, negative, articles?

Heh Heh.

I actually think everyone's collective consciousness has been pricked into waking up a little bit.

Everyone knew HPs had gone crazy, but were willing to carry on because it suited them and because last time, it was not everyone affected and only those who bought in the last year or so before the crash.

Now I think they have suddenly remembered what happened last time and realised that their debt has to be paid back...

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Guest The_Oldie
Please change your 'Neither' to 'VI Idiot'.

Thank you very much...

Unfortunately, irony does not always come across well in forums ;)

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Please change your 'Neither' to 'VI Idiot'.

Thank you very much...

Meester, I think you missed the sarcasm going on there. EDM is not a VI idiot and has done a lot to lift the veil on the goings on here.

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Please change your 'Neither' to 'VI Idiot'.

Thank you very much...

If none of us talk about it going down it won't go down and we'll all be ok. Think positive and the market will still go up. What's wrong with that? No need to call me an idiot - don't we all want house prices to keep going up?

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Meester, I think you missed the sarcasm going on there. EDM is not a VI idiot and has done a lot to lift the veil on the goings on here.

D'oh! I was going to have a bit of fun there...

Never mind. Thanks for the kind words btw...

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do you think this will even get onto the bbc site?

I know that there is another link to the Beeb's report, but it strikes me that if this is a survey, about the general consumer, then it doesn't really matter whether this gets reported or not, does it?

People know they are gloomy as it is merely a representative of their gloom. The only people that didn't know presumably are the people who are in denial, and dat ain't us.

Could be you, though EDM. ;)

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Guest An Bearin Bui
If none of us talk about it going down it won't go down and we'll all be ok. Think positive and the market will still go up. What's wrong with that? No need to call me an idiot - don't we all want house prices to keep going up?

Exactly, it's irresponsible reports like this one from Nationwide that are just talking the market down not to mention the evil machinations of posters on this site that are trying to deprive HARD-WORKING OLD PEOPLE from making a KILLING on the sale of their ONE AND ONLY ASSET that they WORKED HARD FOR... why can't we all just shut up and stop ruining the big free-money bonanza for everyone else?!? It's so unfair!*

:lol:

* My best imitation of a idiotic troll post that appeared on here recently

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I apologise profusely.

No need, it was a perfectly understandable mistake.

Actually, I cribbed it from a genuine newsletter which was sent out by the manager of a branch of estate agents in Fulham in July of last year:

“SILLY SEASON

As we approach the summer holidays, I cannot help drawing parallels to the summer of 2004….. All seemed fair for a continued rise in prices when we entered what I call the “silly season”, i.e. that time of year when journalists can find nothing better to write about than impending doom and gloom surrounding the property market. The result of this negative press was to scare people into holding off from buying in case the market dropped. With hindsight, that precaution has cost a lot of money to an awful lot of people.”

What I loved about it was the use of the words “cost a lot of money” – i.e. the idea that homeowners deserved ever higher prices. On top of that, she obviously had not connected these reports of “doom and gloom” to the fact that both the summer of 2004 and that of 2007 had been preceded by periods of rising interest rates.

When I posted this on this site last summer, some people said that it wasn’t necessarily that this estate agent was idiotic, but that her job was to sell real estate. While a fair point, I disagreed on the basis that if true it was such a terrible (and desperate) sales pitch that no one could have been stupid enough to believe it*….

Anyway, I have kept the newsletter and I will give it to my grandchildren as an example of how people can delude themselves, both collectively and individually, during real estate bubbles.

*Having said that, just after I posted that view, right on cue a rabid market bull that frequents this site proved me wrong in that regard by saying that the estate agent must understand Fulham property better than I do, so therefore must be right!

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Guest The_Oldie
Oh dear, irony a bit much for you?

Oh dear indeed. I do wish people would read the whole thread before they fire off half cocked :(

I apologise profusely.

Use more emoticons ;)

No need, it was a perfectly understandable mistake.

Actually, I cribbed it from a genuine newsletter which was sent out by the manager of a branch of estate agents in Fulham in July of last year:

“SILLY SEASON

As we approach the summer holidays, I cannot help drawing parallels to the summer of 2004….. All seemed fair for a continued rise in prices when we entered what I call the “silly season”, i.e. that time of year when journalists can find nothing better to write about than impending doom and gloom surrounding the property market. The result of this negative press was to scare people into holding off from buying in case the market dropped. With hindsight, that precaution has cost a lot of money to an awful lot of people.”

What I loved about it was the use of the words “cost a lot of money” – i.e. the idea that homeowners deserved ever higher prices. On top of that, she obviously had not connected these reports of “doom and gloom” to the fact that both the summer of 2004 and that of 2007 had been preceded by periods of rising interest rates.

When I posted this on this site last summer, some people said that it wasn’t necessarily that this estate agent was idiotic, but that her job was to sell real estate. While a fair point, I disagreed on the basis that if true it was such a terrible (and desperate) sales pitch that no one could have been stupid enough to believe it*….

Anyway, I have kept the newsletter and I will give it to my grandchildren as an example of how people can delude themselves, both collectively and individually, during real estate bubbles.

*Having said that, just after I posted that view, right on cue a rabid market bull that frequents this site proved me wrong in that regard by saying that the estate agent must understand Fulham property better than I do, so therefore must be right!

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  • 297 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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