9 thoughts on “They call price falls of 1.5% a slump?”
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Landedgentry says:
In the style of an sonorous Hollywood film trailer voiceover:
“They said that this sector of the market was immune….. They were wrong”
Landedgentry says:
Doesn’t also help when a mad deranged gunman is randomly opening fire into your “£3 million” house.
techieman says:
“There will still be wealthy buyers, but there’s a big gap emerging between what a seller expects to get for a property and what a buyer expects to pay.” = No transaction.
The transaction takes place at the margin when either seller or buyer HAS to sell/buy. hmmmm i wonder which side it will gravitate to?
jack c says:
techieman – the majority of the main lenders have in recent months all cut their max loans – £500K+ isnt easy to find anymore and part of the thinking behind this is that house prices at the top end of the market will be hit hard in a downturn.
“i wonder which side it will gravitate to?” – maybe our friend Landlord Expert could comment on this as part of his understanding of Einsteins theory of gravitation (LOL)
techieman says:
Surely you mean Newton’s theory of relativity? Something to do with the square of an apple – or is that Lemon – innit?
FTSE and Dax still looking good! – (thats the kiss of death!) I obviously chose the wrong one (Dax) although one point away from 7100. Actually more bullish (but that worries me!!) at this mature stage. Pound obviously not reached Euro targets :-(. (still got to 7766 – and has now [today] bounced off the 20DMA)
jack c says:
TM – after the rant from Landlord Expert the other day you should be shorting lemons !!
FTSE might have some way to go yet as rumours are now circulating that we might see a BOE cut tomorrow rather than a hold.
techieman says:
hey Jack – yea you have a point! re FTSE i said (and im not talking my own book – or maybe i am ) when i first said 6200 that i thought that a bit conservative (better to try to take out the middle that try to get in and out at the extremes [although thats what we aim for!]). FTSE also has a weighting in oil v dax (eg BP) so that might be a reason….
Im off on holiday soon (friday) so will probably close out or do a oco order before i go. Good luck with your holding…
jack c says:
TM – we’ve gone slightly off topic here however I’m still holding despite FTSE rising above 6200 – BAT industries is also helping
Enjoy the holiday – thought you might have went for one of greenbays holiday cottages in Wales rather than Italy (LOL)
lvmreader says:
Mortgage – to be sung to the tune of Thriller by Michael Jackson
It’s close to midnight
something evil’s lurkin’ in the dark [Kirstie & Phil]
Under the moonlight
You see a sight that almost stops your heart [Rate Hike]
You try to pay
Inflation takes the payment before you make it
You start to freeze
As horror looks you right between the eyes
Wage paralyzed
‘Cause this is Mortgage
Mortgage night
And no one’s gonna save you
From the rate about to hike
You know it’s Mortgage
Mortgage night
You’re fighting for your life
Inside a killer
Mortgage tonight, yeah
You hear the door slam
And realize there’s nowhere left to run
You feel the cold hand
And wonder if you’ll ever see the sun
You close your eyes
And hope that this is just imagination
Girl, but all the while
You hear a creature creepin’ up behind [Kirstie]
You’re outta time
‘Cause this is Mortgage
Mortgage night
There ain’t no second chance
Against the thing with the forty bips girl
(Mortgage)
(Mortgage night)
You’re fighting for your life
Inside a killer
Mortgage tonight
Night creatures call
And the dead start to walk in their masquerade [Wolftons & Vamptons]
There’s no escaping the jaws of the alien this time
(They’re open wide)
This is the end of your life
They’re out to get you
There’s bailiffs closing in on every side
They’ll repossess you
Unless you change that number on your dial
Now is the time
For you and I to cuddle on that DFS sofa
All through the night
I’ll save you from the terror on the screen
I’ll make you see
That this is Mortgage
Mortgage night
‘Cause I can lend you more
Than Mervyn King would ever dare try
(Mortgage)
(Mortgage night)
So let me hold you tight
And share a
(killer, diller, chiller)
(Mortgage here tonight)
‘Cause this is Mortgage
Mortgage night
Girl, I can lend you more
Than Mervyn King would ever dare try
(Mortgage)
(Mortgage night)
So let me hold you tight
And share a
(killer, Mortgage)
I’m gonna thrill you tonight
Darkness falls across the land
The midnight hour is close at hand
Creatures crawl in search of blood [Estate Agents]
To terrorize y’all’s neighborhood
And whosoever shall be found
Without deposit for putting down
Must stand and face the hounds of hell
And rot inside their house’s shell
I’m gonna hike you tonight
(Mortgage, Mortgage)
I’m gonna hike you tonight
(Mortgage night, Mortgage))
I’m gonna hike you tonight
I’m gonna hike you tonight
Mortgage night, babe
[Rap]
The foulest stench is in the air [Nu Labour]
The worst results in 40 years
And grizzly ghouls from every tomb [bankers, bailiffs and other villains]
Are closing in to seal your doom
And though you fight to stay alive
Your wallet will haemorrhage
for no mere mortal can resist
the evil of the Mortgage