Sunday, March 14, 2010

Who’d have thunk it?

We are on a housing market roller coaster - and we are heading down again

Title says it all. Hope it's true. What I find extraordinary is how no-one is willing to predict more than a mild drop. No-one wants to be seen talking the market down.

Posted by tpbeta @ 10:44 PM (1097 views)
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2 thoughts on “Who’d have thunk it?

  • mark wadsworth says:

    “No-one wants to be seen talking the market down.”

    I don’t mind being accused of talking prices down 🙂

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  • MW, I agree but don’t you think that prices are perhaps going to stabilise at the current levels for a long time say 10 years like in the previous crash assuming that the lenders act responsibly. Some may call it stagflation. I would call getting to reality. In USA it happened quicker, which means that their labour cost do not have to increase to pay for the higher property costs whereas we have to in this country. This means higher inflation as the labour cost will have to go up to pay for the higher cost of living. Do you agree ?
    No doubt there will be some savvy sellers who be willing to reduce their prices to achieve a sale and make up their loss by offering a lower price for the one they are buying ie.if they have enough equity to play with. Otherwise we ave a situation where there will be many sellers and the buyers will stay away in the knowledge that prices are not going go up. It will be the builders of new homes will decide what the new level for prices are going to be as they need to sell their properties to survive in business. This will then determine the second hand house prices.
    Perhaps we are going to have a level playing field for the next 10 years. Everyone would be waiting for the earnings to catch up so that the merry-go-round can start once again.
    Also do you still feel that the inflation will reach maximum 4% and perhaps then start to fall again in the next few years.
    Your thoughts would be appreciated for my sanity.
    Also do you have a business e-mail address as I know that you are a member of CIT so that I can contact you separately if required on tax matters if required.
    Look forward to hearing from you.
    Thank you

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