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Full story in the blog

House prices falling at fastest rate for 50 years - and interest rates 'won't be cut until 2009'

By Becky Barrow

Last updated at 6:13 PM on 10th July 2008

The price of the average home has plummeted £17,000 since January. The price of the average home in Britain has plunged £17,000 since January, devastating figures revealed today. House prices are falling at a rate not witnessed since records began in the 1950s, according to the report from the banking giant Halifax. This suggests the current meltdown is even worse than the previous house price collapse in the 1990s. In a further blow, experts warn the current collapse is only at 'the initial stages of an extremely sharp correction'.

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I hope this will be on the front page. i might buy it and leave it in the canteen for my BTL and HPI cheering colleages to peer over. (and perhaps weep) It will be medicine for me against a certain few who were still laughing at me as recently as earlier this year for not buying a house and saying 'prices will never go down' etc

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Telegraph with a similar theme and dramatic headline:

Housing crisis: Fears for 100,000 jobs as sector suffers 'worst conditions for 50 years'

Roger Humber, policy advisor at the House Builders Association, said: "It is uniquely bad. There is nothing to compared it to since the end of the Second World War.

"There is a complete collapse of credit and the number of new homes changing hands has fallen by 70 or 75 per cent compared with a year ago."

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I hope this will be on the front page. i might buy it and leave it in the canteen for my BTL and HPI cheering colleages to peer over. (and perhaps weep) It will be medicine for me against a certain few who were still laughing at me as recently as earlier this year for not buying a house and saying 'prices will never go down' etc

I will do the same. I can still hear few work colleagues laughing at me when I said the house prices would come down.

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I will do the same. I can still hear few work colleagues laughing at me when I said the house prices would come down.

My colleagues won't be laughing when I place the Daily Hate on the staff room table tomorrow morning before they get in! :P

Laughing at me now then are you? :lol:

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Even the FT is getting in on the act (and it's Martin Wolf as well):

Falling over a cliff in slow motion

After the biggest house-price boom in the UK’s history, can the country avoid the biggest ever bust? Fathom Consulting began a bulletin released this week by remarking sardonically that “as the UK housing market downturn gathers pace, it is common for analysts and commentators to argue that this downturn will not be as bad as the early 1990s ... They are probably right. It looks [as though] it will be worse, perhaps far worse.”

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Bovis, for instance, is offering first-time buyers the opportunity to pay for 75 per cent of the property now and the remainder in 10 years' time
.

Or alternatively you can just wait for them to go bust and buy at a 75% discount!

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Daily Mail

Link here

http://www.dailymail.co.uk/home/index.html

Wow! Finally --- FINALLY -- after all those discussions and arguments where we [HPCers] were told that "it's different this time" -- AT BL00DY LAST!!!!!!!! :P

However: I love this PATHETIC attempt at talking the market up - in that Daily Mail article!!!!!!!

----------------------------------------------------------

"Prices have fallen so sharply that some cash-rich parents are buying flats for their children, according to Peter Rollings, managing director of the estate agents Marsh & Parsons. They see the current market meltdown as a good chance to find an 'excellent bargain', he said.

Yesterday Halifax insisted the housing market is strong because it is 'underpinned by sound fundamentals.'"

--------------------------------------------------------

:D:D:D:D

Edited by eric pebble

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The Daily Express have gone quiet recently regarding their beloved HPI.

I think we will see the Daily Maddy editor Dirty Desmond 'do a Maxwell' in the next few months when his property empire implodes. Either that or he will revert back to peddling his sub-standard jazz mags! :lol:

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Daily Mail

Link here

http://www.dailymail.co.uk/home/index.html

Wow! Finally --- FINALLY -- after all those discussions and arguments where we [HPCers] were told that "it's different this time" -- AT BL00DY LAST!!!!!!!! :P

However: I love this PATHETIC attempt at talking the market up - in that Daily Mail article!!!!!!!

----------------------------------------------------------

"Prices have fallen so sharply that some cash-rich parents are buying flats for their children, according to Peter Rollings, managing director of the estate agents Marsh & Parsons. They see the current market meltdown as a good chance to find an 'excellent bargain', he said.

Yesterday Halifax insisted the housing market is strong because it is 'underpinned by sound fundamentals.'"

--------------------------------------------------------

:D:D:D:D

Now the cat's out the bag I think you can calm down now and put away the colourful crayons. :P

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Now the cat's out the bag I think you can calm down now and put away the colourful crayons. :P

If Eric was ever institutionalised would they allow him crayons? Imagine the walls.

Eric you are an HPC institution ;)

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The Daily Hate is free at my Gym, I was reading the story about Al Quedas so called Ambassador in Britain, does he have an embassy and give out ferrero rocher at glitzy balls ? No you say, well he's not a bloody ambassador then is he...

He was pictured carrying a multipack of Diet Pepsi and A bumper pack of bog roll, to be used in bomb making I'll be bound.

I was by this stage to angry to read anything else.

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look at the words used in this article:

plunged

devastating

meltdown

collapse

plummet

unprecedented

breathtaking

freefall

crippling

disaster

grim

ooohhhh. bring it on. bring it on :lol:

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Guest Bart of Darkness
I was by this stage to angry to read anything else.

It generally has that effect on people.

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It generally has that effect on people.

If they think its bad now, wait until interest rates start going up, which has to start happening soon with inflation getting out of control. Interesting position the central banks have got them selves into, leave rates and you get runaway inflation, raise them and industry and the houseing market gets majorly hammered, which leads on the the whole over the counter derivative meltdown.

Interesting times ahead, tighten your belts folks it's going to get ugly.

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Interesting times ahead, tighten your belts folks it's going to get ugly.

If you hold Gold sell and re-invest in Baked Beans, a full stomach is more re-assuring than looking at your Gold. ;)

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I will do the same. I can still hear few work colleagues laughing at me when I said the house prices would come down.

maybe you should buy a couple of diferent newspapers and spread them on the table, and write take you pick. :lol:

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Guest Bart of Darkness
If you hold Gold sell and re-invest in Baked Beans, a full stomach is more re-assuring than looking at your Gold. ;)

Or buy Golden Grahams, Golden Syrup, Golden Wonder crisps, Golden Delicious apples and Terry's All Gold.

Kill 2 birds with 1 stone.

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Guest barebear
Now the cat's out the bag I think you can calm down now and put away the colourful crayons. :P

Well what about the silly names then ?

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  • 396 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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