Friday, January 11, 2013

But that’s no help to first-timers

Housing market shows 'encouraging' signs

Last year was the "most encouraging" for the housing market since the financial crisis, says a leading industry figure.

Posted by phil @ 10:25 AM (1698 views)
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3 thoughts on “But that’s no help to first-timers

  • crash bandicoot says:

    I really quite tired of commenting on Acadametics’ statistics but I’m pleased to see that the article’s authors have the decency to put the word encouraging in quotes. Quite who is being “encouraged” by above infation (according to the ONS) price rises is beyond me.

    So something that started out 247% unafordable is now 255% unafordable. I’m bemused rather than encouraged, I’m imagining that the encouraged folks want to sell a house rather than buy one. Or maybe they’re just happily counting their investment gains without having to go to the trouble of actually realising them.

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  • 350 billion in QE to keep interest rates artificially low, and these fools are saying “most encouraging”

    What a joke.

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  • I don’t get it. What could anyone mean by the words “encouraging signs” in this context? Presumably, they mean rising prices but how could that be good news for anyone? Is their ideal headline, “Prices rise from ridiculous highs to even more ridiculous highs”? It is like the crew of a ship that is stuck on a reef praying for a high tide so that they can get stuck even worse.

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