Sunday, July 6, 2008
Realism sets in
Property getes a reality Makeover
Cheer up, house prices are falling. Nationwide said this week that values have fallen again, for the eighth month in a row. Everything else is going up - food, petrol, electricity - but houses, our biggest and most expensive purchase, are falling. Hurrah! Newspapers reported the story in their usual gloomy fashion: economists "fear" further declines; experts say the market is "the worst for decades". Figures show new mortgage approvals are at their lowest level since 1993, and down 64% over the past year. Cue more wailing about a "meltdown".
Posted by herrbbiiee @ 10:16 AM (457 views)
One thought on “Realism sets in”
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doomwatch says:
This is spot on the money, underlike the articles written by inexperienced personal finance editor at the Times.