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Debate House Prices


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FTSE scraping 5000

WTF?_2
WTF?_2 Posts: 4,592 Forumite
in Debate House Prices & the Economy
Not quite below and it seems to be recovering slightly but will it break this important psychological level today?

http://newsvote.bbc.co.uk/1/shared/fds/hi/business/market_data/stockmarket/3/default.stm

3+bbc-big_thick-line+intraday.png


52-week history:

3+bbc-big_thick-line+twelve_month.png
--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
«134

Comments

  • Baz_2
    Baz_2 Posts: 729 Forumite
    It will get back to high 6000's eventually. It just takes time, its been well below 5000 before and clawed its way back and it will do so again. If you have 10 years to invest and some spare cash then very soon may be a good time to invest. I certainly plan to.

    Like house prices, it doesn't matter unless you need to sell. It doesn't matter what the FTSE is doing unless you need to sell your investments.

    I feel for people looking to take there pensions just now.
  • wolfman
    wolfman Posts: 3,225 Forumite
    Well it doesn't matter unless you need to sell, and the investment hasn't bottomed out. I wouldn't hold onto Lehman shares in the hope in 10 years time they'll be back up to $60.

    It's currently 16 points off. I don't think it'll break the barrier today though. It'll recovery slightly once the NYSE opens, much like it did yesterday. Tomorrow though I'd imagine it to go below.

    As mentioned I too feel sorry for anyone just about to take a pension. Hope it recovers for when my folks take theirs.

    I think house prices have a long way to go until they level out. Beyond even 2010. And if we do get hit with a big recession, it'll only make them drop faster.
    "Boonowa tweepi, ha, ha."
  • meester
    meester Posts: 1,879 Forumite
    Baz wrote: »
    It will get back to high 6000's eventually. It just takes time, its been well below 5000 before and clawed its way back and it will do so again. If you have 10 years to invest and some spare cash then very soon may be a good time to invest. I certainly plan to.

    It may well be, but you don't want to be catching a falling knife.

    If we get further bank failures, then things will fall further.

    Of course the DJIA is not too far off 10k either.
  • meester
    meester Posts: 1,879 Forumite
    daily spreads at IG are at 4963 currently for the close. DJ 10780
  • Sir_Humphrey
    Sir_Humphrey Posts: 1,978 Forumite
    It just dipped under, according to Yahoo.
    Politics is not the art of the possible. It consists of choosing between the disastrous and the unpalatable. J. K. Galbraith
  • wolfman
    wolfman Posts: 3,225 Forumite
    Heh, yep it's under. So much for my prediction!
    "Boonowa tweepi, ha, ha."
  • BlondeHeadOn
    BlondeHeadOn Posts: 2,277 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    [EMAIL="Bl@@dy"]Bl@@dy[/EMAIL] hell, I've just come back from lunch and the FTSE is showing as 4977.50 !!

    :eek:
  • carolt
    carolt Posts: 8,531 Forumite
    So how low will it go?

    4000 anyone?

    First time theFTSE's actually shown some sense and reflected real economic conditions for a while, IMHO. It's been in cloud cuckoo land for too long....
  • BlondeHeadOn
    BlondeHeadOn Posts: 2,277 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    It tends to dip and then bounce back a bit before the close of day, doesn't it? What do people predict the close will be today?
  • WTF?_2
    WTF?_2 Posts: 4,592 Forumite
    Don't forget that since sterling has devalued, the 'real' losses are even greater.
    --
    Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.
This discussion has been closed.
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