U.K Enters Recession..!!

ultra10

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/26/cngdp126.xml

Ofcourse the "Official" definition is two quarters, but it is clear we are now entering one....& its quiet likely to be a bad one !!!



http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/25/bcngdp225.xml

IveSeenTheLight

Generali posted this yesterday
http://forums.moneysavingexpert.com/showthread.html?t=1053823

ultra10

Similar story but differant sources i.e not the same ...anyway..repetion for emphasis ...

luvpump

ISTL is probably the last "Bull" on the boards as all the others have disappeared :rolleyes: .. It is a similar story but from a differant angle & source..worth a read !!

dudleyboy

ultra10 wrote: »

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/25/bcngdp225.xml

"...
Don't forget that only a few months ago a variety of economists (and the Council of Mortgage Lenders comes to mind here) were confidently predicting that house prices would not fall this year.

They could not have been more completely, utterly wrong. Economists find it hard to forecast recessions.
..."

Really? Because we all called it over 6 months ago and this "news" comes as no surprise whatsoever.

Oh, that silly Council of Mortgage Lenders... :rolleyes:

IveSeenTheLight

luvpump wrote: »

ISTL is probably the last "Bull" on the boards as all the others have disappeared :rolleyes: .. It is a similar story but from a differant angle & source..worth a read !!

Yes, I'm a bull who said in my vested interest area its possible to see 20% drop
http://forums.moneysavingexpert.com/showthread.html?t=898381

I'm a "bull" who said the UK average house price is 22% overvalued
http://forums.moneysavingexpert.com/showpost.html?p=11258337&postcount=35

http://forums.moneysavingexpert.com/showpost.html?p=12108113&postcount=3

http://forums.moneysavingexpert.com/showpost.html?p=11949669&postcount=13

http://forums.moneysavingexpert.com/showpost.html?p=11285059&postcount=18

I thought "bulls" think prices only ever go up (below posts show I believe they can go down)

http://forums.moneysavingexpert.com/showpost.html?p=11285059&postcount=18

http://forums.moneysavingexpert.com/showpost.html?p=6599263&postcount=9

If these all fit your sterotype of a "bull" then yes I am one.

IveSeenTheLight

ultra10 wrote: »

Similar story but differant sources i.e not the same ...anyway..repetion for emphasis ...

I was just linking the two together in the thread

Turnbull2000

Tassotti wrote: »

Now, in my opinion, it is envy, and most people want homes that they can own for their family (fair enough)

But now, it has come to the point where this won't happen anyway, because lenders wont lend you the money to buy the place you are so desparate to buy..

And al those wishing for a house price crash you have got your wish, but with it comes your loss of job!!

So, even if the prices come down 50% you still can't buy...

Happy Now!!!!

You sound like Stuart Lawz bitter cousin. :rotfl:

neverdespairgirl

Tassotti wrote: »

I know British people don't like other Brits to be successful, but, there you go,,,,chat away.

I admire successful people if they (a) don't exploit other people to acheive and (b) don't just put money into a rising market and think they are a genius.

chrisandanne

Tassotti wrote: »

So, even if the prices come down 50% you still can't buy...

OH YES WE CAN ...........

A x

barrymung

dudleyboy wrote: »

"...
Economists find it hard to forecast recessions.

Not true.

Economists won't admit they know a recession is on the way. It gives everyone "in the know" time to sell their invetsments before it becomes general knowledge!!

Why do you think that 6 months ago they were "predicting" house prices wouldn't fall? They had houses they wanted to sell, that's why!!