Friday, July 3, 2009
General Consensus Further 10% Falls this Year
Once you get past Mr Miles and his "hunch" this is quite a balanced article. "So what indeed. In the housing slump of the early 1990s there were 17 months when house prices rose, even though the overall trend was firmly downward â€“ a downwards staircase pattern rather than a ski slope. Most graphs in economics exhibit a certain amount of volatility or "noise". ...... ..Some say the current revival in house prices is simply a function of special factors, such as the release of pent-up demand from cash buyers or those with very large deposits. They have been waiting for signals that the market may have bottomed out and are now taking advantage. However, by their nature, these sorts of buyers are neither very large in number nor a sustainable source of strength for the market......"