Friday, May 16, 2008

UK house prices to follow US lead?

Don’t buy into this sucker’s rally

American house price falls, the malaise that started the crisis, will continue. They are deflating at a 32% annual rate now, up from 8% six months ago, and with 4.6 million homes on the market – almost double the average inventory in pre-bubble days – the outlook is grim...

Posted by cornishman @ 02:44 PM (681 views)
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3 thoughts on “UK house prices to follow US lead?

  • 8% deflation rate 6 months ago
    32% deflation rate now
    – that’s a hell of an increase in price falls in such a short space of time.

    And the UK economic cycle is how many months behind the US?

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  • There is a danger in extrapolating one month’s 3% fall to a 32% annual fall. The article doesn’t clarify whether this is a 1, 3, 6, or 12-month average. Most commentators say you need at least a three-month average for it to be meaningful.

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  • @ drewster – fair point

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