Sunday, June 3, 2007

House prices declining.

House prices fall as new rate rise threat looms

Learned commentators state the rate at which house prices are rising is slow. The intimation is that house prices will soon be declining.

Posted by talking rot @ 08:10 AM (349 views)
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3 thoughts on “House prices declining.

  • talking rot says:

    I can’t get the link to work but I am also using a 56K dial-up internet connection from abroad which may be the explanation. If the link doesn’t work, try cut+paste the following:

    http://observer.guardian.co.uk/business/story/0,,2093892,00.html

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  • The link was missing .html off the end. It should work now.

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  • In the article:

    “…Vince Cable, the Liberal Democrat Treasury spokesman, said the government should have stepped in to control lending by banks and building societies. ‘One of the factors that has substantially increased effective demand for housing has been the easy availability of credit, which is way beyond traditional measures of prudent lending.’

    He warned: ‘All the historical experience suggest that there is no such thing as a soft landing. If we do get into a downswing, it tends to take on a life of its own.’…”

    I think this is one of the most sensible things a politician has said recently about this. Most are I think burying their heads in the sand.

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