OECD warns property is still 140% of it's historical average.

Really2

Looking at the article it looks like the paper as used artistic licence on the figures the only OECD comment is.

'Affordability is still nowhere near back at what it has been historically. So we think it has got a way to go. House prices have fallen by only 20 per cent.'

I thoght we were near the affordability line

Really2

Wookster wrote: »

You might think so - but I don't see what is going to suddenly change to put a bottom to the falls.

Do you?

Increasing volumes of sales, Cheaper to buy than rent. More idea of job security than 6 months ago.

I am not calling the bottom, but I dont think it is 140% away either.
But for sure as each day goes by the bottom moves a day nearer.;)

Rochdale_Pioneers

Its all about the availability of mortgages. The push factors that make people want to move (profit, change of job, change of family situation, retirement, divorce etc etc) may be suppressed in a couple of areas but the rest continue recession or no recession.

Its all academic as long as mortgages are scarce at rates that people can afford. If however this situation reverses then the market frees back up. We are seeing definite signs that this is starting to happen, both in the number of mortgages being approved and the amount of throughput being reported by some estate agents. May be a blip, may not last, its certainly not national. But it IS there.

The people with their head in the sand are not the ones saying what I have just said, its the ones clinging to their statement that the housing market will continue to implode and studiously ignoring any and all facts which disagree with this narrative. Things MAY fall much further. Signs are that they may not.

Wookster

Really2 wrote: »

Increasing volumes of sales

Volumes might be increasing but finance is still quite difficult to obtain.

Really2 wrote: »

Cheaper to buy than rent.

Really? Not sure about that.

Really2 wrote: »

More idea of job security than 6 months ago.

Job losses are rising at an alarming rate - I'm not sure where you see security?

Really2

Wookster wrote: »

Volumes might be increasing but finance is still quite difficult to obtain.



Really? Not sure about that.



Job losses are rising at an alarming rate - I'm not sure where you see security?

You asked what factors would cause the bottom those would be factors. I did not say they were fact.

And yes I know my job is more secure than 6 months ago. I think more people have an idea of wether they are at risk or not than 6 months+ ago.

FoxtonsRIP

Wookster wrote: »

You might think so - but I don't see what is going to suddenly change to put a bottom to the falls.

Do you?

Exactly, if anything things are going to get much worse. Or better depending on your point of view.

ess0two

ad44downey wrote: »

This confirms what I've been saying for some time. The house price crash is only in its infancy. Anyone who says different has blinkers on

It confirms that you'll still be posting b olx.

Wookster

ess0two wrote: »

It confirms that you'll still be posting b olx.

It confirms you have your head in the sand.

Rochdale_Pioneers

Wookster wrote: »

It confirms you have your head in the sand.

You can see him from your position in the sand can you?

ess0two

Wookster wrote: »

It confirms you have your head in the sand.

The post was'nt aimed at you.

As for head in the sand,well yes,how can i influence the current state of the economy.
Except continuing to work to the best of my ability,pay off credit,pay my bills,and live life to the full.

What about you?its all well posting how bad things are,but as an individual what are you doing/what can you do.

A lone voice on an internet forum,yes things are bad,but i and yourself have very little influence on matters at hand.

I could move myself to the cellar and weather the storm,but i dont need to,been here before and it'll pass.