House prices bottomed ?

Thrugelmir

StevieJ wrote: »

because global competion will return.

What global competition for the UK mortgage market?

kennyboy66_2

Thrugelmir wrote: »

Tesco are moving into banking. Though only in a small scale way. Cherry picking a selective part of the market. Though they have had a tie up with a bank for a while so have taken that operation over.

On the scale that Kenny is suggesting is fantasy dreaming.

Fantasy dreaming !


Tesco linked to early sale of Northern Rock.

Don't give Gordon Brown much hope of a substantial profit though.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6613502.ece

Cannon_Fodder

Back to the OP...

Berkeley are in the business of buying land so have to put spin on when they buy, to keep investors/markets happy...

As per http://forums.moneysavingexpert.com/showpost.html?p=19800979&postcount=32

"had noted a 25 per cent fall in land prices" in July 2008's article...

this summer becomes "on top of the 50%-60% decline already made" in the OP article...

So they've taken a 25-35% hit on what they were buying last year...?

They put their money where their mouth is, so fair play, but they are hardly infallible oracles who can be relied upon to show us the way ahead...

Thrugelmir

kennyboy66 wrote: »

Fantasy dreaming !


Tesco linked to early sale of Northern Rock.

Don't give Gordon Brown much hope of a substantial profit though.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6613502.ece

As I said in my post cherry picking. You have to put into scale the size of operation Tesco's is operating and will be operating in the medium term. They'll only buy the good loan book and deposits.

Although head line news won't change the mortgage market.