Sunday, August 17, 2014
Inevitable price slump
Property prices show falling trend
Interesting comments from estate agents and bloggers say it all really....all bubbles burst And this is a big one
Posted by taffee @ 12:55 PM (5178 views)
14 thoughts on “Inevitable price slump”
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Chrisvow says:
At lunch today my bro in law(I know,BIL) reckons a lot of EAs he’s in with are saying this is the last housing boom ever! In that case things really will be different this time. The maths tend to support this theory.
Blissex says:
fascinating article on the “advantages” of London property being so “valuable”:
http://www.newstatesman.com/business/2014/06/bizarre-secret-london-s-buried-diggers
libertas says:
Not really lending towards an interest rate hike.
phils says:
As everyone always says, it’s Right Move ASKING prices, NOT sold prices.
libertas says:
Also, oil prices are at risk of showing a falling trend. $94.61 right now. Mega drop into the weekend. If it heads towards $80, Russia is going to hurt (A reason for Saudi & USA to start pumping?) And all bets are off for rates going up and inflation. What we will see is deflation and collapsing interest rates in Europe. Britain will follow behind.
Wildcard though is what happens if Scotland votes Non? Choosing France instead of England, as the Socialists there would desire.
Pope says:
Love the “comprehensive 3 point guide to buying a house” video at the end.
Comprehensive indeed.
hpwatcher says:
Wildcard though is what happens if Scotland votes Non? Choosing France instead of England, as the Socialists there would desire.
I sincerely hope they vote ‘yes’.
mark says:
perfect storm brewing
libertas says:
hpwatcher. If they vote yes, Britain will lose its leverage in Europe and Scotland will fall for the European bureaucracy. It will be a disaster, causing us to be absorbed into the borg, turning our back on a nation that literally brought Europe out of the Medieval times to provide the agricultural and industrial revolutions.
britishblue says:
Unless London loses the 20 to 30% gain it has had in a year, i wouldn’t consider any price falls a drop, just a lance of the last 12 months unfounded additional bubble that should never have happened. I am probably in the small minority that think that the bubble should have burst in 2008 and was well on course to until we saw a a re-blowing up of the bubbles in housing, stock markets and other assets. There is nothing in history that shows inflating a bubble works, so i tend to think that it will inevitably burst one way or the other. The problem will not be the swingeing drop in house prices, which will be inevitable, but all the side effects the economy will take from not taking the medicine at the right time shortly after the last financial crisis.
mark says:
i have noticed price drops gaining momentum in the USA, the agents will try and tell you market is booming but the drops are starting to come in thick and fast
hpwatcher says:
hpwatcher. If they vote yes, Britain will lose its leverage in Europe and Scotland will fall for the European bureaucracy. It will be a disaster, causing us to be absorbed into the borg, turning our back on a nation that literally brought Europe out of the Medieval times to provide the agricultural and industrial revolutions.
That’s the media view and unlikely to happen. The fact is that the UK is nothing other than a pile of debtors at every level…now who would want to be attached to that.
i have noticed price drops gaining momentum in the USA, the agents will try and tell you market is booming but the drops are starting to come in thick and fast
Despite the odd propagandist victory, the US economy is in real, real trouble.
libertas says:
Oil is down to $93 WTO, $101 Brent overnight. A total collapse. I would say that so long as this oil price dump is not a fake down before another rise, that this is a sign of global economic weakness and interest rates will not rise. House prices will respond by flattening out if our growth is hit or, begin soaring beyond this year’s price hikes if 3% growth and the immigration flow continues in earnest.
http://uk.investing.com/commodities/crude-oil
http://uk.investing.com/commodities/brent-oil
Copper has a similar, albeit weaker looking chart, and it is more affected by economics than geopolitics than oil is, so harbingers potential flattening of the European and global economy, unless of course if this is a fake down and is a false move before inflation takes off. I do not discount that:
http://uk.investing.com/commodities/copper
I think Carney’s thing of 15% of loans being risky was a target, or at least will be seen as such. What banker could go to prison for risky loaning when risky loans are 8%, half of BOE “targets”?
Much of that additional risky lending will occur in London, though we often see the same in the North West, for the opposite reason.
doomwatch says:
mmm. Forget the “theories”, the more rational explanation is that the UK housing market demand always drops between late June & September due to holidays.