Friday, June 6, 2008

Prices in meltdown

House Prices Fall at Fastest Rate for 25 Years

And another 24% by 2009

Posted by bearshare1616 @ 07:48 AM (862 views)
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13 thoughts on “Prices in meltdown

  • What a lovely start to the day, reading that!

    Thanks,

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  • it_is_going_with_a_bang says:

    “‘undeniably alarming”

    To who? A fairly onsided opinion.

    How about “undeniably great”.

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  • northern bear says:

    Can anyone tell me how ‘house price falls’ are calculated? Anecdotal evidence from around here suggests that the difference between asking and selling price is even greater than Halifax suggests. Surely it must be more sophisticated than that?

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  • Martin Ellis is the eternal optimist – look around you Martin it’s happening.

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  • I take back my comments yesterday about the daily mail (I was accusing the telegraph of daily mail type headlines with it’s untrue 10% fall headline).

    This is quite a well written article with a different angle ie 3 month fall being 3 times bigger than that recorded in last crash and giving Joe Public a monthly figure of what’s been vanishing.

    Whilst putting in Martin Elliss comments it certainly made them look like a hopeless plea rather than economic advice which is how it’s normally portrayed.

    Well done the Mail.

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  • And this is May, normally the time of year when buyers are supposedly out enthusiastically looking for a new home and most Estate agents have a spring in their step. What is the situation going to be like by October ?

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  • @5. sovietuk – what is it going to be like in July/August? IMO summer will be the killer for EA’s etc – the sheeple will be off on their camping holidays (cant afford a flight) and the market will be at a standstill.

    See the graph on the other thread posted by Little Prof – prices off a cliff !

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  • nopensionnohouse says:

    This is an especially sweet post because of the demographic and readership volume of the Daily Mail.

    Last time I looked I think they had the second largest readership out there. Well into multi-millions.

    Excellent stuff, and I think for the first time ever I have just read an article in the Mail that didn’t make my blood boil! I may even buy today’s copy and frame it.

    What a fine day.

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  • mark wadsworth says:

    There was a similar article in The Metro – I think we have reached the ‘self fulfilling prophecy’ stage, if the ‘experts’ are all saying prices down 12% a year for the next two years, who in his (or her) right mind is going to buy now?

    Well, clearly two thirds of potential FTBs have got the message, but there are still far too many ‘scabs’ who are breaking the buyers’ strike picket line.

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  • I almost can’t believe it myself, keeping up on this site used to be easy, it’s turning into a full time job just to keep up with the Daily Meltdown.

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  • sold 2 rent 1 says:

    str 2007,

    “I almost can’t believe it myself, keeping up on this site used to be easy, it’s turning into a full time job just to keep up with the Daily Meltdown.”

    That is because we are in Calleman’s “fifth night” destruction period that leads to a change of consciousness.
    More destruction………. coming right up sir.

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  • sold 2 rent 1 says:

    jack c,

    “what is it going to be like in July/August?”

    Good question.

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  • Great start to the day, then checked my many savings accounts over 6%. Even better. The only topping on the cake will be to hear at the weekend that
    Poxtons have started closing branches.

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