Monday, January 8, 2007

Is it starting to go?????

Property agent calls top of house market

A leading estate agent has called the top of the property market, claiming an influx of sellers "motivated by greed" is increasing the supply of homes for sale and creating a vicious circle that will send prices lower in 2007.

Posted by rich benton @ 04:34 PM (615 views)
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8 thoughts on “Is it starting to go?????

  • A 5 day old article , why are the old news articles getting in the blogs, its so annoying that they are repeated. They take up the space of the more recent articles in the blog.

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  • Of course. The only people to blame for the impending crash is those “greedy” sellers.
    Why ever would they want to sell high at the top of a speculative market???

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  • This isn’t the top, far from it.

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  • I’d bet that the same group of speculators attempting to “play” the market (by doing so propping up the market in lieu of FTBs) will also try to “play” the market on the way back down.

    That on its own will create the HPC – the same thing that created it – pure greed.

    Poetic justice in a way …

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  • dead right paul

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  • Unfortunately I think your right David. Several friends are buying at the moment, some to live in, some to renovate/flip (renovation possibly being the only upside to a speculative housing boom). I think it’s got a while to run yet. However, bigger the bubble, bigger the bang. Not good for hundreds of thousands of families, not just the ones who ‘should’ve known better to take on all that debt’ but all those who lose their jobs in a failing economy.

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  • Yup, but everytime I disagree I get shot down in flames only to be proved right.

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  • In a bubble, the bulls are always proved right over and over again. The bears are only proved right once.

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