Wednesday, January 3, 2007
A reduction in house prices is likely in the coming years
Overvalued house prices threaten crash
Morgan Stanley and PriceWaterhouseCoopers says there is a good chance house prices will reduce sharply as homes become increasingly less affordable for first time buyers.
Posted by jellycaster @ 10:17 PM (509 views)
6 thoughts on “A reduction in house prices is likely in the coming years”
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Enuii says:
Can’t wait for those council tax demands to start dropping like lead bricks onto the nations door matts. We must be in for a bumper rises in Cheshire as the local rag has just carried the headline ‘Freeze on Councillors Expenses’ which sounds like a bit of spin to soften up the electorate before the bills arrive. As I have said before there is more at work here than just interest rates and property prices.
Nohpc says:
Dear housepricecrash.co.uk owners can you please hurry up and update the houseprice predictions chart on the front page for 2007! It really makes the site seem old and dated to have last years unfulfilled predictions there. I’m sure everyone else will agree with me here.
denzil says:
“A study commissioned by The Daily Telegraph shows that house prices are moving well beyond the reach of many families as the rapid growth in property values outpaces increases in incomes.”
A bubble by any other name will still burst like a bubble.
george monsoon says:
Denzel,
“An LSR economist, Diana Choyleva, said she thought prices could rise by as much as 15 per cent in 2007. But she warned that if the Bank of England did not prevent people taking on excessive debt by raising interest rates, it risked laying the foundations of another major collapse.
“The Bank could risk finally spawning a house price bubble in 2008,” she said.”
And there was me thinking we were already in a bubble that had almost hit its elastic limit.
Davros says:
We’d all better listen to this woman, she’s got a Masters from Warwick University…..
webmaster says:
Hi Nohpc,
I’ll be updating the predictions over the next couple of days, thanks for the nudge.