Wednesday, Oct 14, 2009

Up, down or flatline?

Bloomberg: U.K. Housing May Face ‘Double-Dip’ Within Two Years, Fitch Says

"The U.K. housing market may face another steep decline within the next one to two years because of a scarcity of affordable mortgages and rising interest rates, putting homebuilders at risk, Fitch Ratings said". “Fundamental indicators, including limited mortgage availability and stretched affordability, point towards a period of stagnant growth at best, or at worst a double-dip contraction,” analysts said in a report today.

Posted by alan @ 09:05 AM (871 views)
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3 Comments

1. Neil B said...

This journalist doesnt seem to understand the difference between house prices and the housing market - "The U.K. housing market may face another steep decline" - "or at worst a double-dip contraction". A decline in house prices will lead to increase in the housing market as more are sold!

Wednesday, October 14, 2009 09:59AM Report Comment
 

2. martin said...

Down,

Just look at the basics, rising unemployment, rising energy costs, rising interest rate (eventually). Even on a £100000 repayment mortgage thats around £600 per month. How do you manage that with everything else such as credit cards and other loans that the average person has. For all you guys that are getting twitchy and thinking of throwing in the towel, it was a summer bounce, we all new it would happen, fair enough not to this extent but when everything is being thrown at the housing bubble to keep it inflated, I dont think it has lifted as much as the government hoped. Be patient.

Down.

Wednesday, October 14, 2009 10:31AM Report Comment
 

3. fallingbuzzard said...

Correct neil_B but remember they're estate agents and don't know how to multiply volume by commission rate by price. They are very helpful though if you have a wedge to spend.

Thursday, October 15, 2009 12:20AM Report Comment
 

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