MSE News: Property asking prices fall again

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"UK property asking prices fell for the second month in a row, according to research today. ..."

Read the full story:
Property asking prices fall again

rickbonar

There is a big difference between asking price and selling price and I think this is just a few sellers starting to "get real" in the vague hope of selling now quick before the real price drop starts!

Banks have far more cautious about lending and are putting a 3 to 4 times your annual income limit to new mortgages.

There are a lot of things working against the "housing recovery" (chortle chortle)

For example quantative easing (printing more bank notes)
This gives an illusion that your money's worth more than it is... really your £20 is only worth £15.

Add in the the fact that the mortgage repayment rate is held at an all time low of 0.5 per cent and people are still unable to easily pay their mortgages and new buyers still can't get them.

I suppose they could in theory drop it to 0% and would it make any difference... probably not.
And sooner or later it will time to pay the piper.... that's when the fun begins!

The housing recovery is talked up all the time but as far as I see it amounts to nothing more than a game musical chairs with houses instead.
The governments have done everything to prop up this vastly overpriced market at the cost to everyone except bankers politicians and the odd property owner here and there - and it's failing because quite simply not enough people have the real income to carry on playing or join in.