Saturday, December 27, 2008

Then again, they may not

HOUSE PRICES MAY PICK UP NEXT YEAR SAY ESTATE AGENTS

The New Year promises a new dawn for property owners and first-time home buyers, according to estate agents. After a year of gloom for owners with values down by a fifth, 2009 is likely to be the year the recovery begins as interest rates are cut again and the fall in property prices levels out. Mr Bolton King, chairman of the National Association of Estate Agents, said that in some markets, the bounce back could be as dramatic as the fall.

Posted by little professor @ 12:21 AM (2262 views)
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19 thoughts on “Then again, they may not

  • Sure >>> I mean all the signs are there and the world is poised for a new House price assett boom.

    Steady on the straight jacket straps now !!!!

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  • Bolton King is clearly an idiot. I want to be paid a massive salary for being an idiot too!

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  • Always delivered hot and fresh onto your doorstep.

    We could turn this into a game!

    ASTEROID MAY STRIKE NEXT YEAR SAY ASTRONOMERS
    UK ECONOMY MAY BOOM NEXT YEAR SAYS GOVERNMENT

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  • Phew! With all this gloomy news around, I was getting rather worried.

    Nurse. NURSE! I’ve fallen out of bed again!

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  • Three thing must return? Hmm.. Let me see…

    Major lenders must begin to make money available to buyers? No, they won’t, because there is no money, no investors and no market.

    Cuts in interest rates must be passed on to the market? No, they won’t. The banks will just increase their profit margin, because they MUST rebuild their balance sheet

    Confidence must return. No, it won’t, not with 3% contraction in GDP and further 1 million people losing their jobs.

    What really must happen next year is that the government, banks, companies and each individual must reduce their debt, until we can all do that, there won’t be an end.

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  • gardeniadotnet says:

    4. peter_2008

    With you except for this… “the government, banks, companies and each individual must reduce their debt, until we can all do that, there won’t be an end”

    There isn’t time for this to happen by normal means.

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  • “There isn’t time for this to happen by normal means.”

    ..Gardeniadnotnet are you suggesting that a period of HMG created Hyperinflation wll be introduced to anihilate both savings and more importantly debt. This will mean that the old adage of saving for a rainy day will be replaced for ever with spend, spend, spend. Good to know my savings are safe.

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  • Activity may well pick up, prices will not.

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  • “Have Your Say is unavailable for this story.”

    When a newspaper prevents their readership from commenting on a story nobody can doubt that they are just printing propaganda.

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  • “He said: “For many estate agents, like so many industries in this economic climate, 2009 will be make-or-break.”

    He warned that the market could stagnate with dire consequences for the thousands in the profession and for the economy.”

    Profession??????????? Is that like the world’s oldest profession?

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  • phdinbubbles, comparing the world’s oldest profession with estate agents is a bit unfair on those who operate in the world’s oldest profession. With one, you just pay the once. With the other you pay and pay and pay for the next 25 to 50 years.

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  • The people who take this RAG seriously are morons.

    [1] How is rising prices Great News for first Time Buyers?
    [2] This is the same paper that said just the other day that clever Brits are taking advantage of the weak pound to go to more exotic holiday locations this year…..

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  • Japan had zero rates for over 10 years and the US has had them for effectively a year. The housing market has been booming:)

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  • 6. bystander said… Gardeniadnotnet are you suggesting that a period of HMG created Hyperinflation wll be introduced

    Yes, I am.

    The US Federal Reserve are already experimenting with quantitative easing and if HMG aren’t yet they soon will be – it’s inevitable.

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  • 10. nubbers said…

    phdinbubbles, comparing the world’s oldest profession with estate agents is a bit unfair on those who operate in the world’s oldest profession

    Depends how you look at it after all you pay Estate Agents to screw you…

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  • In other news, turkeys around the country say christmas 2009 is cancelled

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  • A very similar story based on Bolton Kings comments appeared in the Telegraph yesterday. Knowing that the source is the NAEA made me confident it was nothing more than BS. I followed up by doing a quick search for Mr BKs previous assessements and predictions from 2007 and 2008 – they have all been complete and utter bollo*** – pure ramping.
    What I don’t understand is why the EAs just can’t let go of their tried and failed strategy of talking prices up at every concievable opportunity. Even now following record falls they just cant seem to help themselves – instead of doing the sensible thing to save their skins and advising sellers to adjust their expectations downwards to something a tad more realistic in order to get things moving again they have reverted to type and seem to be trying ( again ) the fear tactic to push prices up – madness.

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  • it_is_going_with_a_bang says:

    Has this idiot not been saying this for the last year or so anyway?!
    2009 is likely to be a recovery year???

    he obviously had a little too much christmas cheer before he made this up.

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