MSE News: Nationwide: house prices continue to drop

Graham_Devon

Blacklight wrote: »

And every time you post it someone has to take their turn to explain to you what it shows.

Dude, stop crying.

doire_2

Blacklight wrote: »

Out of interest I've just had a look at numbers for sale 'round my way' since Really2's thread back in August. There are now 14 (down from 45) for sale, 8 of which are sold STC.

Good luck bagging them bargains while everyone's taking their house off the market until prices start to rise again. Perhaps interest rate rises and higher mortgage costs will weed them out.

How does this prove that "everyone" is taking their house off the market? Talk about a generalisation

Batchy

Graham_Devon wrote: »

A pretty picture...

Hi Graham to get to stagnation you do have to be at 0% ... its not coming as a surprise to most.

Stagnation is a pretty picture for everyone... moving goal posts and uncertainty doesnt help anyone!

PS I wonder how many new businesses were set up from equity in houses, that wont be able to start up now. Buy new cars, that kept "SOME" british workers in work.

Whats good for your pocket wont be good for prosperity and the economy!

HAMISH_MCTAVISH

Blacklight wrote: »

Out of interest I've just had a look at numbers for sale 'round my way' since Really2's thread back in August. There are now 14 (down from 45) for sale, 8 of which are sold STC.

Good luck bagging them bargains while everyone's taking their house off the market until prices start to rise again.

And that's exactly why the bears won't be getting their crash.

Their last great hope for the level of forced sales needed to trigger a proper crash was mass redundancies from the spending review, and/or a double dip recession.

But with the vast majority of the job losses coming from natural attrition, there won't be the compulsory redundancies required to trigger forced selling.

And with growth being significantly stronger than expected, the prospect of a double dip recession is also fading fast.

Time is running out for the crashaholics.... The pre-Olympic bounce is now only a year or so away, and right after that you have the biggest demographic surge of FTB's reaching buying age in history, bigger than the boomers generation, which will last for over a decade..... The start of which coincides nicely to the lead up to the next general election, with all the ensuing bribery for the public that will entail, and you'd better believe no government will go into an election with a crash ongoing.

So the bears urgently need a crash to happen, it has to be big, it has to be fast, it has to get them 20% or 30% off in the next 12 months or so, and there is now virtually no chance they'll get it.

Whereas the bulls know if they sit tight and absorb the few percent of falls over the next 12 months, they'll then be into a decade or more of solidly rising prices.

I know which side I'd rather be on.....;)

Heyman_2

DaddyBear wrote: »

I don't think we'll be seeing Sibley or Hamush contributing to this thread. And speaking of @rseholes, where are stiflers mom and new home owner these days?

They'll be back when we start seeing the indexes rising again. About the same time you'll be naffing off again I expect

ess0two

Graham_Devon wrote: »

A pretty picture...

Must be gutting to look at Feb 09,as it aint gonna happen again.

de1amo

when i heard the new figures i thought the relentless bickering will be happening soon--it looses its appeal after the first dozen times and never proves anything--other than you like stastistics and graphs that you can bend to support your individual arguements--for once take the news on 'its face value'!

HAMISH_MCTAVISH

HAMISH_MCTAVISH wrote: »

And that's exactly why the bears won't be getting their crash.

Their last great hope for the level of forced sales needed to trigger a proper crash was mass redundancies from the spending review, and/or a double dip recession.

But with the vast majority of the job losses coming from natural attrition, there won't be the compulsory redundancies required to trigger forced selling.

And with growth being significantly stronger than expected, the prospect of a double dip recession is also fading fast.

Time is running out for the crashaholics.... The pre-Olympic bounce is now only a year or so away, and right after that you have the biggest demographic surge of FTB's reaching buying age in history, bigger than the boomers generation, which will last for over a decade..... The start of which coincides nicely to the lead up to the next general election, with all the ensuing bribery for the public that will entail, and you'd better believe no government will go into an election with a crash ongoing.

So the bears urgently need a crash to happen, it has to be big, it has to be fast, it has to get them 20% or 30% off in the next 12 months or so, and there is now virtually no chance they'll get it.

Whereas the bulls know if they sit tight and absorb the few percent of falls over the next 12 months, they'll then be into a decade or more of solidly rising prices.

I know which side I'd rather be on.....;)

Just in case this relentless bickering gets lost in the rest of the relentless bickering.

angrypirate

Blacklight wrote: »

Out of interest I've just had a look at numbers for sale 'round my way' since Really2's thread back in August. There are now 14 (down from 45) for sale, 8 of which are sold STC.

Good luck bagging them bargains while everyone's taking their house off the market until prices start to rise again. Perhaps interest rate rises and higher mortgage costs will weed them out.

And instead of there being 40 buyers for those 45 properties, there are now 2 buyers for the 14.

Graham_Devon

Appears Nationwide are now calling for QE2, in order to lend more money and also lower borrowing costs.

However, QE2 looks less likely due to the GDP figures.

Personally don't see the point in QE2 (in this specific instance). Sure, it may bolster up prices for a short while, like QE1 did. But what about later? What then? QE3? 4?

When do we have to simply accept people cannot afford homes without QE distorting the picture, and lax lending?