Friday, Dec 04, 2009

While UK House Prices are going up and up!

Reuters: U.S. housing market meltdown not over yet: Zandi

"The meltdown of the U.S. housing market is not over yet, and home prices will soon start trekking downward again as a flood of foreclosures looms, a well-known economist said on Wednesday. Mark Zandi, chief economist at Moody's in West Chester, Pennsylvania, said in an interview with Reuters home prices will resume their decline by early next year as foreclosure sales pick up again He said "The housing crash is not over,"".

Posted by alan @ 11:36 AM (1086 views)
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1. Stammer said...

Okay, question for those with more savvy than me. If the US and UK have followed similar courses, extremely low interest rates and a shoring up of the financial institutions with public funds why have our respective house prices reacted very differently? It has been expounded that QE and low interest rates are the obstacles to further reductions but what is the material difference which has made the US take a great deal of their pain now and a, seeming, hiatus in the UK market. I have an interest in the prices going South but not in the same way as I see some of the sanctimonious attitudes on here which at times are as unpalatable as the other polar extreme but it does seem to go some way in supporting the notion that there is a significant difference in the available stock, land, heads per area between UK and US, else what other factor is at play?

Friday, December 4, 2009 03:00PM Report Comment

2. crunchy said...

I just can't get my head around house prices falling. They keep defying the laws of economics.
This must be the new paradigm I was told about by so many experts. I have just sold all inflation hedges and bought a string of houses and I am flush with Sterling waiting for saving rates to rise into the stratosphere. The crash will not happen till I'm dead and gone, in the meantime I want a big fat juicy pension. My next door neighbor has raked it in. She has so many houses now, that she can't keep track of them anymore and has decided to sell them all. Isn't she silly, because everybody knows bricks and mortar is the way to go. When I was speculating in the markets I was stressed out, looking at charts everyday, up and down, down then up. Now I can just put my feet up, let the agents decorators do the hard work and watch the rents roll in. The problem is that boredom is kicking in. Oh how I wish for some excitement. The rollercoaster of life! zzzzzzzzzzzzzzzzzzzzzzzzzzz

Friday, December 4, 2009 03:17PM Report Comment

3. cynicalsoothsayer said...

LOL. It's so unreal in this country at the moment.

Friday, December 4, 2009 07:00PM Report Comment

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