Monday, December 1, 2008

Double trouble for homeowners – what was that about ‘bottoming out’?

Double-digit house price drop

Prices dropped by 1.5% compared with September - the 14th consecutive monthly fall, the figures show. This could lead to a continued downward spiral in house prices and sales that would have a significant effect on the depth of a recession.

Posted by paul @ 07:00 AM (819 views)
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3 thoughts on “Double trouble for homeowners – what was that about ‘bottoming out’?

  • Note the BBC says:

    “In his report on the mortgage market published earlier this week, Sir James Crosby warned that the squeeze on the availability of home loans would continue to “unprecedented” levels without government intervention.”

    Crosby never advocated “government intervention”. That bit is the (anonymous) writer’s own opinion.

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  • really?

    http://www.hm-treasury.gov.uk/d/pbr08_mortgagefinance_1010.pdf

    “I believe there is a strong case for intervention in mortgage finance markets…”
    “Without intervention, the market in mortgage-backed securities won’t return any time
    soon…”

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  • Just making sure you’re awake.

    In fact, he states at least five times that “government intervention is justified”. Just in case anyone missed it.

    The causal link in the statement about house prices declining and “a significant effect on the depth of a recession” is pure 100% ulterior-motivated opnion-dressed-up-as-fact.

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