Wednesday, November 22, 2006

Gordon Brown gets a warning about house price crash

House market 'risks bursting'

The housing market is likely to burst within the next few years, a prominent economist and former adviser to Gordon Brown will warn today.

Posted by webmaster @ 09:04 AM (464 views)
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7 thoughts on “Gordon Brown gets a warning about house price crash

  • The Capitalist says:

    I roared with delight when I saw this.

    This is what we have been waiting for – the financial establishment cannot remain silent any longer – prepare for more press releases and a change in sentiment. Note also sub-prime lender Kensington has issued a profits warning.

    Henley on Thames (posh, wealthy, popular place to live) has experienced a surge in demand for debt advice. Don’t tell me people have over-extended themselves? They’ll have to sell the four wheel drive, take the kids out of private school and sell the second home and the BTL ‘pension’.

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  • Mervyn in May and Miles in Movember….yet the fools still dont listen.

    Good to see this reported in much of the mainstream press, he appears to echo our thoughts….common sense. It can’t go on….can it?

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  • Those of the MPC that voted for a .25 cut in base rates in August 05 could have helped in avoiding a crash but they allowed more air to be pumped into the balloon and did not act soon enough to control rapant HPI. The remit of the MPC is not to control HPI but when it seriously undermines the stability of the economy they need to pay attention and act which they did not, instead they sat around fumbling.

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  • What a turnaround by the media. In just a few months they have gone from raging bull, to timid bear. I think its just a matter of a few more months, maybe the usual spike in sales expected in spring will not transpire and the headlines will spell out “reality” in black and white for the sheeple.

    More of the same please…

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  • Members of the MPC should be dealt with in the appropriate fashion for causing misery on a massive scale

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  • Albertini Albertino says:

    I’ll tell you something (and maybe you should say exactly the same to your home-owning friends): if I owned a house right now, I’d be seriously thinking about selling it before the downturn comes.

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  • george monsoon says:

    My confidence in a price correction is starting to return. The fact that a former aid of Gordon’s is coming public with this kind of information puts the housing market issue out in the spotlight, and demonstrates to the general public that maybe house values are overpriced. “one by one the house of cards begins to tumble”. This doesn’t bode well for Gordons inauguration into no.10.

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