***House prices up 1.2% in May***

StevieJ

robin_banks wrote: »

The Recession isn't over, house prices never increase during a recession, all this is is a bit of volatility. Wallpaper.

What is a recession then?

Dr_DiNg_DoNg

will there be the inevitable "dead cat bounce" post anytime soon?

I do like it when housewives and random didycoys learn new phrases.

StevieJ

princeofpounds wrote: »

A PUBLIC good, I said. If you had a million cans of beans then sure it might be great for you, but it would send half the world into starvation. This is the problem - you don't look further than your o;wn asset/liability match and forget about society as a whole.

That is how the capitalist system works, everyone for himself, what was that, the great Maggie said 'there is no such thing as society'

princeofpounds

Only to take the place of credit that has been sucked out of the market by the credit crunch. The credit that has gone is greater than the money being printed surely?

So far. This is exactly what I mean when I say that deflationary forces currently keep it in check.

The problem is that situation will not stay in place for ever. Either central bank interest rates will then have to rise sharply to stem the flow of money, which in itself will be a horrible shock as the debt burden will still be in place (as there will have been no significant inflation).

Or CBs do not stem the flow of money and market interest rates have to adjust for inflation expectations and end up doing the job for you.

The chance of CBs getting it exactly right is about the same as an knife balancing on it's point, as always.

System

hpc site is UTTERLY hilarious today. I reckon a few of them are about to give themselves an aneurysm.

purch

random didycoys learn new phrases

Wookie has not been around this week :eek:

ad44downey

Beware the Bulltrap.

Don't be taken for a mug. House prices are still down massively year on year. The recession has just begun.

Dan:_4

ad44downey wrote: »

Beware the Bulltrap.

Don't be taken for a mug. House prices are still down massively year on year. The recession has just begun.

Hi Downey, how you doing?

1.2% rise in one month is MASSIVE. There is only one way house prices are going from now - and thats UP UP UP

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

IveSeenTheLight

ad44downey wrote: »

Beware the Bulltrap.

Don't be taken for a mug. House prices are still down massively year on year. The recession has just begun.

It's possible it may turn out to be a bull trap, time will tell, it's not a certainty

As for YOY prices, your right, they are still negative, dropped down from 17% to 15% and now at 11%.
Every month there is increases and they are compared against a month of falls will result in the YOY percentage dramatically changing.
Did you notice that nominally, house prices have increased 3 months in a row according to Nationwide?
Next month you'll see the seasonally adjusted 3 month on 3 month become positive.

As generali pointed out before, we could see a change and maybe the winter months will start to show declines again.

dopester

Thrugelmir wrote: »

Out of interest just had a browse on Rightmove at my local area. Number of properties for sale is the lowest I can recall. Maybe the lack of quality houses is driving prices up for those that are selling. Disguising the wider falling market.

I don't want higher interest rates, even though that would benefit me personally in a number of ways. It wouldn't be good for the economy.

What does tick me off is the number of people the government are supporting on their mortgage rescues scheme. However I know that is a dam that has to break, as they can't continue it indefinitely.

I'd put them on low-interest repayments - tracker style - but if they can't even keep up repayments on their mortgage at those levels, then action needs to be taken.

Way too expensive and the government will have to eventually stop trying to rescue all the bad debts, if we are ever to get through this.

Fewer people are losing their homes, due to measures introduced by the government to support homeowners during the current economic climate.

Support for Mortgage Interest, covers mortgage interest payments for people who lose their jobs. SMI is claimed by 220,000 households, helping them keep their homes. The qualifying period was cut from 39 weeks to 13 weeks in January and the capital limit was doubled to £200,000. SMI is open to people on Income Support, income-based Jobseeker’s Allowance, income-related Employment and Support Allowance or Pension Credit.

http://www.justice.gov.uk/news/newsrelease150509b.htm

Looking on the consumer forums the other night, for those who have money problems, the main advice is like.. get hooked up to the mortgage rescue scheme. Also they've now got a forum for those skirting with repossession/possession. Lot of subprime type lending names taking action.