Thursday, Oct 22, 2009

A Few Ups Do Not Mean There Will Not Be Many More Down Down Downs....

New Statesman: It’s time for a few home truths

"My guess is that, when this is all over, house prices will eventually fall from peak to trough by around a third. However, it is perfectly possible they may well undershoot on the downside by more than that, as they did in the early 1990s, before they recover. Already prices have fallen by roughly 20 per cent on the Halifax measure and probably have at least another 10-15 per cent still to fall."
"If incomes are falling and it is hard to get credit, if there are several million households in negative equity, unemployment is rising and there is a large stock of unsold houses, it is hard to understand how house prices could increase any time soon. "

Posted by sybil13 @ 08:09 AM (865 views)
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2 Comments

1. drewster said...

"My guess is that..."

So it's just a guess. *Yawn*

Thursday, October 22, 2009 10:12AM Report Comment
 

2. ketha said...

The 'double-dip' theory is hardly a new one. I mean it's either this or they will hold off. There isn't a large stock of unsold housing which is exactly why the houses aren't falling... I suspect a long period of stagnation to be fair but this isn't really original, especially to readers of this site.

Thursday, October 22, 2009 12:06PM Report Comment
 

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