House price crash update

Plasticman

Woby_Tide wrote:

.......p.s. before someone trots out the line that I'm blindly thinking prices go up, don't bother ......

I think you're blindly thinking prices go up. (trot, trot, trot)

Doozergirl

Plasticman wrote:

sorry, I wasn't concentrating. Did the crash happen?

(I'm afraid Doozergirl is unable to answer you as she's busy looking for a random website link with a spurious claim to the HPC having occured at 2200GMT)

LizEstelle

I may be missing the point in all this but, for a real 'crash' to happen, wouldn't we need something to go suddenly and badly wrong with the general economy first?

I have inclined towards the 'multi-speed economy' theory for some time, believing that the housing market and matters associated with it were a few paces distant from conditions prevailing in industry and commerce... but the idea of a sudden crash ONLY in housing prices strikes me as stretching that theory beyond breaking point.

We would surely have early warning signs a-plenty from the job market, industrial output etc etc, would we not?

Plasticman

lypsey wrote:

Dave you completely miss the point , nobody is going to offer MORE than the asking price are they. The asking price could of course be lower , I think currently people only offer 93% of asking price.

So this article is VERY important , it is a guide to what is happening. Providing the author of the survey always quotes selling prices or asking prices then this gives a fantastic guide to the future

As I said before - HOUSE PRICE CRASH - here we come

It seems that the world is going to end in 2010:

http://timesofindia.indiatimes.com/articleshow/975938.cms

This article is VERY important , it is a guide to what is happening. Providing the author of the survey always quotes any random bit of information he thinks supports his story then this gives a fantastic guide to the future

As I said before - END OF THE WORLD - here we come

---

OK, maybe not. But it does reinforce the fact that one news story doesn't always reflect the big picture. I agree with you lypsey that a house price crash is likely in the future, but I wait to be convinced that it's started.

Plasticman

LizEstelle wrote:

I may be missing the point in all this but, for a real 'crash' to happen, wouldn't we need something to go suddenly and badly wrong with the general economy first?

I have inclined towards the 'multi-speed economy' theory for some time, believing that the housing market and matters associated with it were a few paces distant from conditions prevailing in industry and commerce... but the idea of a sudden crash ONLY in housing prices strikes me as stretching that theory beyond breaking point.

We would surely have early warning signs a-plenty from the job market, industrial output etc etc, would we not?

Unemployment is on the increase, inflation is rising, interest rates are rising, oil prices are high and the middle east is unstable. Not good signs but not bad enough to make a real impact at the moment IMHO.

Plasticman

I'm off to bed now. If the crash happens tonight please give me a call and let me know.

LizEstelle

Plasticman wrote:

Unemployment is on the increase, inflation is rising, interest rates are rising, oil prices are high and the middle east is unstable. Not good signs but not bad enough to make a real impact at the moment IMHO.

Exactly...!

... and to temper the examples you've given... aren't gas and oil prices on the way down..? Unemployment may be up but so is - employment! Isn't the middle east ALWAYS unstable..?

Small wonder it isn't making a real 'impact'.

I won't be cutting and running on my buy-to-lets just yet, thanks...

MORPH3US

Plasticman wrote:

oil prices are high and the middle east is unstable.

http://news.bbc.co.uk/1/hi/business/6042608.stm

Market_Oracle

MORPH3US wrote:

http://news.bbc.co.uk/1/hi/business/6042608.stm

The decline is technical, and targetting $56, so just about to bottom.

MORPH3US

MarketOracle.co.uk wrote:

The decline is technical, and targetting $56, so just about to bottom.

didn't understand a word of that... ok, I understood the "just about to bottom" bit but thats it.

Can you explain the first bits?

M