Saturday, September 6, 2008

More negative sentiment, apart from Foxtons

Where is the housing market surviving the downtown?

Despite the government rescue plan, it may be 2011 before the housing market picks up. Is there any good news? It’s official: summer is over. The children are back at school, your tan is fading fast and sandy beaches are a distant memory. Normally, the first hint of autumn chill means the housing market bursts back into life after the holiday lull. Not this year. Instead, estate agents are drumming their fingers on their desks or shutting up shop completely. Normally, the first hint of autumn chill means the housing market bursts back into life after the holiday lull. Not this year. Instead, estate agents are drumming their fingers on their desks or shutting up shop completely.

Posted by bufferbear @ 09:54 PM (802 views)
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6 thoughts on “More negative sentiment, apart from Foxtons

  • One of our failed local estate agents premises has just morphed into an upmarket (designer) 2nd hand childrens clothes shop!

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  • I keep reading that house prices will go up in a year or two, are these the same people that quoted house prices will never go down…..when house prices reach bottom…..that will be the price banks will be happy to lend with a good deposit of course ! the banks will want ….

    a good deposit
    secure employment
    sensible multiples

    with strict restrictions houseprices will stagnate and possibly continue to fall.

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  • I see my comment has been added…

    “With all this wet weather I wouldn’t be surprised if we didn’t get an outbreak of foot and mouth to top everything off.”

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  • “that will be the price banks will be happy to lend with a good deposit of course”@[email protected]

    …..I sincerely hope this to be the case, but we must never forget that it was short-term greed of the banks that got us into this and it will be the greed of the banks that will lead to relaxed lending in the future. IMHO. I hope future generations will not be forced into debt slavery by the greed of the banks and governments, but reality and history show the same mistakes will be made again, and again, and again. Elephants may never forget, but humans certainly do.

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  • bystander said…Elephants may never forget, but humans certainly do.
    I agree, but banks are changing the lending criteria, at least for the short term. The banks and goverments have been very relaxed over the past 20 years and the final fallout has yet to be seen…..! a change is coming and this could include worldwide taxation of the rich, houseprices linked to inflation to stop speculators making a quick shilling etc. goverments will be voted out and new principals voted in. Humans will remember this for a generation or more and if houseprices are linked directly with wage inflation the housing boom will be dead.

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