Tuesday, January 29, 2008

UK Housing Bear Market Confirmed

UK Housing Bear Market Confirmed

UK house prices slumped in the quarter to December 07, with London leading the way as momentum gathers towards the 2 year forecast for an average decline of 15% by August 2009. The mortgage banking sector has only just beginning to feel the impact of the housing slump as the number of foreclosures (repossessions) is expected to surge to a record busting 80,000 for 2008 from 40,000 last year. Northern Rock was the first to go bust, other banks will follow. But in the meantime watch out for other mortgage lenders, especially those exposed to the buy to let sector such as Paragon to be pushed towards bankruptcy, down 90% from its highs. Includes some nice graphs!

Posted by su @ 06:18 AM (789 views)
Please complete the required fields.



One thought on “UK Housing Bear Market Confirmed

  • Mark Wadsworth says:

    The link in the full article to the “rent of buy” decision is abolsutely priceless! I have some minopr quibbles with the detailed figures but by-and-large, the moral is, unless you are confident that prices will rise by at least 10% over the next five years, you should be renting. Tee hee.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>