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Lenders axe house price forecast
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mystic_trev
Posts: 5,434 Forumite
Nationwide and Halifax
http://news.bbc.co.uk/1/hi/business/7791391.stm
Both have said they'll let us know their 2009 forecasts at the end of next year :rolleyes:
http://news.bbc.co.uk/1/hi/business/7791391.stm
Both have said they'll let us know their 2009 forecasts at the end of next year :rolleyes:
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Comments
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My favourite quote from the article would have to beThe Council of Mortgage Lenders (CML) has already taken a similar stance to the two lenders, declining this week to make any forecast of next year's house prices because it would be "futile" while the market is so inherently unpredictable.
What is so unpredictable at the moment? Prices only seem to be going one way as far as I can see0 -
Their forcasts were hopeless on the way up, why should they be anything else on the way down?0
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I think I preferred this:
Obviously wasn't a problem with self-fulfilling predictions of growth, was it!!One consideration for the industry is that predictions of further big falls may become a self-fulfilling prophecy, undermining the confidence of potential buyers who might be afraid of a fall in the value of their homes.0 -
Dont worry people I can take care of this one
Sarkin's predictions for next year will be that house prices will go off a cliff, down 20%. Oh hang on that was this year er um ok. Yeah i think it would be best if I refrain from giving a prediction as its going to be a bloodbath and I dont want the blame. Plus I am going to look stupid if I say up 5% for 2 years running.
Pathetic0 -
Does anyone have to hand what their predictions were for this year?
Would make amusing reading!0 -
I think it was up 5% Carol0
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"We have never experienced conditions like this before," explained a spokeswoman for the society.
However the society has shunned making an annual forecast before, in 1992 and 1993, in the depths of the last house price slump.
Is that an Oxymoron
Or in plain English we have not experienced anything like this since last time !!!!!!.0 -
Level growth*? I think it was, you can find it on Nationwides website.
* That means static prices, a gentle slow down. Almost rightFreedom is not worth having if it does not include the freedom to make mistakes.0 -
I think initailly they talked about 1-2% growth in 2008, or prices remaining static. However they changed their prediction that many times i can't remember what they predicted0
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Next year (2009) I predict a Riot0
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