Monday, May 9, 2011

Even The Mail is struggling to put a positive spin on this

House prices tumble to a two-year low as fears grow that slump will continue until 2015

"Property values are now just four per cent above the low they hit April 2009, while they are 20 per cent below the peak they reached in August 2007, before the credit crunch struck. House prices have been highly volatile during the past year, dropping in seven months, rising in four and remaining unchanged in one month, as the market continues to be unsettled. The quarter-on-quarter change, often seen as a smoother indicator of market trends, also pointed to an acceleration in the rate at which prices were falling..."

Posted by mark wadsworth @ 04:19 PM (1902 views)
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6 thoughts on “Even The Mail is struggling to put a positive spin on this

  • the number cruncher says:

    Did you see the other Head line in the Girls in pretty frocks sidebar:

    Kerry Katona sells home she shared with ex Mark Croft for £200,000 loss
    Kerry has finally sold the Wilmslow mansion the couple lived in during their marriage, but the financially-troubled star has suffered a £200,000 loss on the sale.
    http://www.dailymail.co.uk/tvshowbiz/article-1384965/Kerry-Katona-sells-home-shared-ex-Mark-Croft-200-000-loss.html#ixzz1Ls4uHpMc

    Now that will get the message across more than any statistics.

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  • I’d also demand a serious price reduction if I was buying a house tainted by that ******* ****!

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  • > Halifax housing economist Martin Ellis said: ‘Signs of a modest tightening in housing market conditions, a relatively low burden of servicing mortgage debt and an increase in the number of people in employment are all likely to be providing support for house prices, curbing the pace of decline.

    (1) “Tightening in housing market conditions” = “Builders have stopped building new houses that they can’t sell”
    (2) “Low burden of servicing mortgage debt” = “People are hanging on thanks to rock bottom interest rates”
    (3) Increase in the number of people in employment = 143K jobs added to the economy

    Of these factors, (3) seems to be a genuine “green shoot” of recovery, whereas the other two are just a reflection of the awful mess we’re in. Or am I wrong?

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  • Ozymandias says:

    Maybe it is a fall ‘upwards’?

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  • 1. the number cruncher,

    Never give a sucker ………..

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