Monday, October 18, 2010

I would have said 10 years with no recovery…

House prices face a 'double dip with no recovery for five years'

'The housing market is heading for a double dip and will take five years to recover, a leading economist has claimed. Peter Spencer, chief economic adviser with leading financial forecasters Ernst & Young Item Club, said property values would fall by 5 per cent over the next 12 months. The predictions are based on the Treasury’s own forecasting models.'

Posted by hpwatcher @ 07:01 AM (1321 views)
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6 thoughts on “I would have said 10 years with no recovery…

  • There will never be a recovery from this. It would have been a pointless exercise otherwise.

    This is evolution for some. Watch for the future changes if you have missed some of those already and judge things for yourselves.

    …IMHO.

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  • ‘My generation has been planning to sell our houses at over-inflated prices to our children – but many of them are not interested. The game has changed.’

    Cue Paul!! :).

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  • they would have got away with it if it wasn’t for the pesky kids (well actually the banks refusing to lend to the pesky kids any more)

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  • 2018 is my prediction.

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  • mark wadsworth says:

    It’s even better than what Techie quotes: “Mr Spencer added that young people were opting not to even try to step onto the property ladder because of the high costs involved. ‘My generation has been planning to sell our houses at over-inflated prices to our children – but many of them are not interested. The game has changed.’”

    Buyers’ strike! Buyers’ strike!

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  • you also have to wonder what will happen when a new generation of non-home-ownerists start to wield serious political power in say 10 years time.

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