MSE News: House prices to fall next year, says Nationwide

LizEstelle

Old_Slaphead wrote: »

They're exposing their savers to the full force of the interest rate cuts too and I suspect many (including me) are deserting them for better rates elsewhere.

Being a mutual. NBS should be able to offer better savings rates than their PLC competitors (no shareholders blah, blah) - clearly they can't or won't.

Ah but then don't forget you're getting all the other benefits of mutuality, like...


...um...


...er...

doire_2

I wonder if this Nationawide prediction will get the same media coverage as the house rise predictions have lately :rolleyes:

I'll not hold my breath expecting to see it on the BBC or ITV news. Maybe it will be on the front page of the Daily mail with the headline "Housing Market Faces Decline" :rolleyes:

Really2

doire wrote: »

I wonder if this Nationawide prediction will get the same media coverage as the house rise predictions have lately :rolleyes:

TBF it is mainly due to the news that day. What is happened in the north is fairly major so it is not going to get the same press.

But I cant remember any predictions getting on to the news as late. Stats have but I honestly cant think of any predictions getting mass media coverage.
Most probably because they have nearly all been wrong.

HammerSmashedFace

pawpurrs wrote: »

Everything you read gives conflcting opinion... Lets face it no one knows what the hell is going to happen to house prices over the next couple of years, I think its fair to say anything could happen......

I do:D, they are going to fall in real terms once the government have finished blowing the next two generations taxes. When you do something that is temporary, the effects are also temporary, seems pretty obvious.

Watch the car scrappage scheme when it ends, also check out what the VAT increase will do to the inflation figures, which of course will be batted away as a temporary hike by the BoE so they can continue printing money.

It's going to end in tears, it's just a matter of time.

Really2

HammerSmashedFace wrote: »

I do:D, they are going to fall in real terms once the government have finished blowing the next two generations taxes.

So current mortgages holders should be OK.:cool:

StevieJ

Really2 wrote: »

Considering it is tough out there I would be happy with a £143,000,000 profit for a full year in the biggest recession in modern history.

Especially with no shareholders to appease or pay out to

StevieJ

LizEstelle wrote: »

Ah but then don't forget you're getting all the other benefits of mutuality, like...


...um...


...er...

You might just get a payout if they float :beer: or maybe not

Emy1501

mystic_trev wrote: »

Their CEO (Graham Beale) also forecast a 20% drop in House prices for 2009. Like me (and many others) he's been proved wrong!

He said back in Sept 2008 that he expected prices to be 25% down by the end of 2010 from prices at the beginning of 2008 as far as I'm aware.

StevieJ

HammerSmashedFace wrote: »

I.

Watch the car scrappage scheme when it ends, also check out what the VAT increase will do to the inflation figures, which of course will be batted away as a temporary hike by the BoE so they can continue printing money.

It's going to end in tears, it's just a matter of time.

I thought we were fighting deflation

HammerSmashedFace

Really2 wrote: »

So current mortgages holders should be OK.:cool:

Depends I guess on whether you're highly leveraged, on an SVR or tracker and on the rivot when it comes to household expenses when rates rise. Imagine being on the limit now if you've got 10, 15, 25 years left on a mortgage when everything possible is being done to save you. Some trackers are being sold now at 3%+ above base, eek. And of course SVR's, which hundreds of thousands are on because they can't remortgage (no equity, bad credit rating, lied before to get mortgage etc) will be on about 8%+ if base rate hits 5%..... not nice.

Of course if you're none of those things or perhaps only have a couple of years left on you're mortgage my wager would you'll be fine. Rates aren't going nowhere until it's too late, which I would guess will be 18-24 months.