Tuesday, February 24, 2009

75% drop from peak

Property freeze is worst since 1950s

A record low of 43,000 homes worth £40,000 or more were sold in January, according to figures published by HM Revenue & Customs. At barely a quarter of the total activity when the housing market was booming, this was the lowest number of transactions since monthly records began in 2005.

Posted by gardeniadotnet @ 11:19 PM (838 views)
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3 thoughts on “75% drop from peak

  • gardeniadotnet says:

    The monthly house price data we are fed by Nationwide and Halifax has little validity when based on such a small number of transactions.

    Capitulation beckons – in more ways than one.

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  • “This was all a trap, designed to lead to exactly this situation from which there is no apparent escape. Our political leaders, our civil servants, our leading bankers and corporate managers are all the products of a system that has provided them with a framework of reality which is false, limited and engineered such that the psychopathic rise to the top and the non-psychopathic become so hopelessly infected that they might as well be psychopathic. Their beliefs about the world are so diseased that they justify to themselves the rape and destruction of entire peoples and nations and will justify to themselves the repression and destruction of their own people. Yet it is to these people that we are told we must defer in leading us out of the mess that they have created.

    The vast majority of these people did not consciously create this mess, they simply participated in its creation because that is how they are, it reflects their nature, they can be and could do nothing else. ” SD

    http://www.bbsradio.com/cgi-bin/webbbs/webbbs_config.pl?read=25996

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  • Why should there be so many housing transactions anyway? There are few (none come to mind…) other countries where every second or third house is for sale. Why should there be more than 400-500 thousand transactions a year? How many people really need to move? Most of the transactions are simply “trading” like foreign exchange. Is it any surprise then that the movement of housing prices becomes ever more similar to that of other speculative commodities?

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