Sunday, September 13, 2009

Apparently the Conclusion of a Major Piece of Research!!

House Prices May Fall for Three Years

The title is about as bearish as it gets but useful to have anything that stops even for a second the idea that house prices have only one direction to go in and that is up. Article concludes less sellers but also less buyers and lots of unemployed leading to more divorce but seems to forget to say about the lack of money for mortgage lending and the need for hugely overvalued properties to fall back in line with sensible and sustainable lending levels, but I guess that would not get included in a "major piece of research on the economic situation" in the UK !!

Posted by sybil13 @ 03:49 PM (625 views)
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One thought on “Apparently the Conclusion of a Major Piece of Research!!

  • Cheekie Charlie says:

    What a strange “Government-sponsored report ” Less houses on the market but prices will still fall, and more divorcees? In my experience working for Leeds Permanent building society in the last crash alot of our distressed sales were due to partners splitting up and the one left unable to afford the mortgae payments. With a record amount of people with second homes, whether this is accidental landlords, BTL, Holiday homes etc. If these people lose their job the DHSS will only pay their mortgage for their primary residence leading to many forced sales which we require for house prices to fall back to their historic levels and stabalise.

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