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MSE News: House prices to fall next year, says Nationwide
Former_MSE_Natasha
Posts: 672 Forumite
This is the discussion thread for the following MSE News Story:
"It predicts rising unemployment means the upturn in typical values this year will soon end ..."
The two threads have been merged to avoid duplication. Thanks to Purch for the original post.
"It predicts rising unemployment means the upturn in typical values this year will soon end ..."
Read the full story:
House prices to fall next year, says Nationwide
House prices to fall next year, says Nationwide
The two threads have been merged to avoid duplication. Thanks to Purch for the original post.
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Comments
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http://news.bbc.co.uk/1/hi/business/8369848.stm
Nationwide Building Society has reported a big slump in profits and delivered a gloomy forecast for the UK economy and the housing market.
......Ooppppss :eek:'In nature, there are neither rewards nor punishments - there are Consequences.'0 -
Their CEO (Graham Beale) also forecast a 20% drop in House prices for 2009. Like me (and many others) he's been proved wrong!0
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If they are so upset about low interest rates effecting their profits, why on earth did they not implement the collar at the correct level on their tracker mortgages? The damage is at least in part self inflicted.
Fair do's they are a mutual society protecting their members, but they can't have it both ways.Chuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
I would have liked to see their complaints if rates were up at 8%! Surely, they are not losing cash on their historic collars, as the bonds used to fund them would have been secured pre credit crunch? If anything, its the bond holders who are taking it up the A$$ at the mo. The fact they are not raking it in is a function surely of the old pre credit crunch status quo?0
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Considering it is tough out there I would be happy with a £143,000,000 profit for a full year in the biggest recession in modern history.0
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chucknorris wrote: »Fair do's they are a mutual society protecting their members, but they can't have it both ways.
They're exposing their savers to the full force of the interest rate cuts too and I suspect many (including me) are deserting them for better rates elsewhere.
Being a mutual. NBS should be able to offer better savings rates than their PLC competitors (no shareholders blah, blah) - clearly they can't or won't.0 -
mystic_trev wrote: »Their CEO (Graham Beale) also forecast a 20% drop in House prices for 2009. Like me (and many others) he's been proved wrong!
So this means this is wrong too?0 -
Old_Slaphead wrote: »They're exposing their savers to the full force of the interest rate cuts too and I suspect many (including me) are deserting them for better rates elsewhere.
Being a mutual. NBS should be able to offer better savings rates than their PLC competitors (no shareholders blah, blah) - clearly they can't or won't.
I know I moved cash from a maturing bond last month and will move another one maturing in MarchChuck Norris can kill two stones with one birdThe only time Chuck Norris was wrong was when he thought he had made a mistakeChuck Norris puts the "laughter" in "manslaughter".I've started running again, after several injuries had forced me to stop0 -
Everything you read gives conflcting opinion... Lets face it no one knows what the hell is going to happen to house prices over the next couple of years, I think its fair to say anything could happen......Pawpurrs x
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