Thursday, May 15, 2008

Auction tsunami to hit UK shores?

Foreclosure flood: 1,000 auctions per day in California

The number of properties in California up for auction grew 44% from March to April. If the UK housing market is 12 months behind, would anyone bet on 10% monthly price drops by this time next year?

Posted by xaje @ 12:05 AM (572 views)
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One thought on “Auction tsunami to hit UK shores?

  • Taking into account population difference (36m in Ca) and converting to an annual figure, that would equate to about 420,000 p.a. in the UK.

    I’m expecting the UK figure to peak at a higher rate, probably over 500k, but so far it’s barely started here.

    Pity there is so little good analysis of US house prices – I’d like to know what these properties are selling for compared to what they would have fetched two years ago.

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