Thursday, June 12, 2008

Express acknowledges the crash….

£300BN WIPED OFF VALUE OF HOMES

''...Britons have collectively seen nearly £300 billion wiped off the value of their homes since house prices first began to fall, research has showed....''

Posted by hpwatcher @ 05:30 AM (894 views)
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5 thoughts on “Express acknowledges the crash….

  • waitingfor hpc says:

    Did anyone tell them IT WAS NOT REAL MONEY!!!!!!! Your house is only worth what someone can pay for it from EARNINGS!

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  • yorkshireman says:

    Historically, the Express and others have quoted “real” figures, like average house prices or used statements like “house prices soar by £500 a day”. This article has a meaningless headline, followed by an article which tries to fudge the real issue which is that house “values” are falling and the actual price, if you can sell, is falling a whole lot faster. Let’s see some real number Daily Express.

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  • Beat me to it. I was going to say it was £300 billion of pie-in-the-sky, £300 billion of frothy bubbles. Does the Express site take comments..?

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  • mark wadsworth says:

    Woo hoo. Big numbers.

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  • ”Unsurprisingly, the majority of Britain’s housing wealth is concentrated in London, with homes in the capital collectively valued at £776.26 billion, accounting for 13.3% of the total.”

    Assuming the numbers are correct it’s unmortgageed sales of expensive property in this area that are keeping a couple of the surveys in positive territory – at the moment.

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