Friday, Oct 02, 2009

Bull Trap Bull Trap Bull Trap

Telegraph: House Prices: Rise Unsustainable

Good to see a few article todays at least pointing to the inevitable falls to take the market back to where ordinary folk can afford to enter it. Eventually the message has to sink in that a market that is bottoming let alone recovering needs FTB's / sensible loan to incomes (especially in a market where interest rates are rising) and money for lending .
Good to see the IMF are back to saying:
" the typical housing boom lasts six years and sees house prices in real terms go up by about 50%. Downturns last five years, during which time house prices in real terms fall about 24%. ...prices in the UK, Spain and Denmark all probably have quite a long way further to fall - in the UK's case, maybe another 12-13% in real terms."

Posted by sybil13 @ 12:33 PM (662 views)
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1 Comment

1. Neil B said...

"The housing market activity is still very low, worse than any point during the crash of the nineties."

This is the main point of note that never appears in any headlines. The housing market is dead and prices will only drop when developers and EAs do it so that they don't become bankrupt through lack of business.

Friday, October 2, 2009 12:31PM Report Comment

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