Saturday, March 29, 2008

“Growth is slowing”… “negative growth”… “inverted inflation”… ehmm PRICES ARE DOWN £7,000!!!

Credit crunch: British house values fall £7,000 since October

First time the headlines say so clear. CRASH!!!! Where is Greenbay and his property mini-empire (now worth thousands less!). What is he gonna tell the chaps at the pub tonight? "Nationwide's economists yesterday abandoned their past insistence that residential property values would at worst be flat this year and gave warning that prices would continue to slide" I am having a laugh

Posted by confused76 @ 08:15 AM (824 views)
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4 thoughts on ““Growth is slowing”… “negative growth”… “inverted inflation”… ehmm PRICES ARE DOWN £7,000!!!

  • planning4acrash says:

    I doubt Greenbay has many friends

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  • “All truth passes through 3 stages. First it is ridiculed. Second it is violently opposed. Third, it is accepted as being self-evident”. Arthur Schopenhauer.

    Loos like we’re in stage 3 re: housing pack of cards!

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  • Just been in my local estate agent, speaking about renting and whatnot. Two interesting points.

    1. Apparently, people are being told they have to drop their prices by £10K to sell.
    2. Those that do not, are considering putting their house on the rent market for 12 months..

    So, does this mean we could see a glut of rental homes and a drop in prices? Although to be honest I dont think i’d like to rent anywhere for just 12 months.. would you?

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  • Most of my work colleagues are still in the denial phase, especially those who have withdrawn equity from the mortgage to build an extension, which they are *sure* they will get back on the value. Ah well.

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