Monday, March 17, 2008

UK’s property downturn will be worse than America’s

Why the UK's property downturn will be worse than America's

Negative equity is an unpleasant - but very real - prospect for those who bought near the peak of the housing boom. And the pain could be much more drawn-out for defaulting homeowners on this side of the Atlantic.

Posted by damien @ 12:14 PM (2140 views)
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15 thoughts on “UK’s property downturn will be worse than America’s

  • Landedgentry says:

    Partytime! WOOHOO!!

    The misery and heartache to all these fools is making my year!

    CA$H is KING folks!

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  • I think the question now is NOT whether we are going to have a 1990-95 style recession and HPC, but how much worse it is going to be……….

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  • Article containing facts that I am sure are well known on this site. Consequently we are looking at another scenario now, as to whether the property downturn which is indisputably here will be worse than in the US and by how much?

    How the news changes !!!

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  • Landedgentry, surely that should be:

    CA€H is KING folks!

    (Actually, cash is soon to worth a lot less than we hoped.)

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  • waitingfor hpc says:

    yeah but cash versus house prices in the uk will be fine!!!

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  • (Actually, cash is soon to worth a lot less than we hoped.)

    Depends on whether your bank goes bust or not……..

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  • Uncle Fargas says:

    “Fortunately, lack of supply will keep prices high. There are hoards of FTB’s just waiting on the sidelines to leap in the moment prices drop.”
    – the final bull argument. I wonder how long it will prevail.

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  • Landedgentry says:

    Harold LOL, yes we can insulate our lofts with those worthless yankee dollars.

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  • Saw a great sig on a forex site – Tonight we are going to party like it’s 1929…

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  • Happy Mondays says:

    Wether it’s cash or bricks and mortar, it all sucks! We get spoon fed infomation, it’s boom time, now it’s a credit crunch, the best ten years ever, the worst is still to come! and we all follow, fueled by greed or fear. How many times has this happened and how many more times has it got to happen, before we wake to the fact this banking / financial system that was forced on us does not work…
    When the last river is poisoned, the last wild animal hunted, the last tree felled, Remember You cannot eat money.(Hopi indian)

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  • “Depends on whether your bank goes bust or not……..”
    Not really, it depends the whether the central banks can successfully create hyperinflation (which is clearly their intention).

    “yeah but cash versus house prices in the uk will be fine!!!”
    I hope you’re right.

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  • “”yeah but cash versus house prices in the uk will be fine!!!”
    I hope you’re right.”

    I will be rioting on the streets if he isn’t!!

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  • mark wadsworth says:

    HPW, sure, but you always stick it into National Savings & Investments.

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  • Sold My Soul To The Never Never Never says:

    This is going to be worse than last time because so many more people have jumped into it thinking property was a one way bet. We didn’t have all these property programmes trying to brainwash you – on TV virtually every day and interest rates were not driven so low in order to seduce you into the market.

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  • Are house prices gonna crash?

    Is cash king?

    For the first time in my life I’m actually glad I own neither.

    Pay off all debts and make yourself as employable as possible and by any means necessary is probably the reality.

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