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Debate House Prices
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Latest RICS report (September 2011)
Comments
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Prices falling. .
Not in two thirds of the country.
It's almost as if no matter how bad the mortgage rationing, the supply shortage is so severe prices remain stubbornly high.:)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »Not in two thirds of the country.
It's almost as if no matter how bad the mortgage rationing, the supply shortage is so severe prices remain stubbornly high.:)
Ready for. "Evidence please. Talk is cheap"? (or "Evidens plees, tok is cheep").0 -
Don't be silly, it's all down to supply and demand.
Hamish said so.
RICS claim prices are falling in just 35% of the UK.
Despite rising unemployment, poor consumer confidence, public sector cuts, benefit cuts, mortgage rationing, and the worst global financial crisis in a century.....
That's a staggeringly poor result for the bears.:)“The great enemy of the truth is very often not the lie – deliberate, contrived, and dishonest – but the myth, persistent, persuasive, and unrealistic.
Belief in myths allows the comfort of opinion without the discomfort of thought.”
-- President John F. Kennedy”0 -
HAMISH_MCTAVISH wrote: »RICS claim prices are falling in just 35% of the UK.
Despite rising unemployment, poor consumer confidence, public sector cuts, benefit cuts, mortgage rationing, and the worst global financial crisis in a century.....
That's a staggeringly poor result for the bears.:)
One would assume it was in the interest of RICS and its members to talk up the market, yet they dont. Maybe thats because more of its members are reporting falling prices?
The current stats are all pointing to continued falls, albeit reasonably gentle, rather than the crash some would hope. But that doesnt mean the falls are not happening.
We all know there has been massive support for house/asset prices yet prices still fall. Maybe a slow deflation of the bubble is actually the plan from the powers that be. Something that would probably cause less long term pain to the country as a whole. Slowly falling prices reduces the chances of widespread negative equity, allows banks to deal with the issues and gradually mark assets down without the sudden damage to their balance sheets, and will eventually allow the first time buyers etc to start to buy in. However that would lead to a significant 'lost generation' problem...
Its all going a bit Japanese isnt it?0 -
HAMISH_MCTAVISH wrote: »RICS claim prices are falling in just 35% of the UK.
Despite rising unemployment, poor consumer confidence, public sector cuts, benefit cuts, mortgage rationing, and the worst global financial crisis in a century.....
That's a staggeringly poor result for the bears.:)
Hamish, prices could be falling (heavily) in 80% of the UK, and you would dig up some statistic that make it look like a poor result for the bears. You and I know that you don't have much to crow about at the moment, so why make yourself look slightly desperate ? Your day will come again, no doubt, but at the moment it looks like bear weather.30 Year Challenge : To be 30 years older. Equity : Don't know, don't care much. Savings : That's asking for ridicule.0 -
HAMISH_MCTAVISH wrote: »RICS claim prices are falling in just 35% of the UK.
Yes, but their report is based on a 'staggeringly small' sample size, considering the number of active sales agents in the country as a whole.
Read the list of surveyors at the back of the report, on whose data the report is based. Especially, look at the list for Scotland. Last month, only eleven surveyors consulted in Scotland - not all of whom are involved in sales work - some of whom are in firms which ONLY do surveying.....0 -
HAMISH_MCTAVISH wrote: »RICS claim prices are falling in just 35% of the UK.
Despite rising unemployment, poor consumer confidence, public sector cuts, benefit cuts, mortgage rationing, and the worst global financial crisis in a century.....
That's a staggeringly poor result for the bears.:)
Hehe
Wheres your trademark "house prices are rising or stable in x% and falling in x% of the country" line? Given up with that too?
All going a bit Pete Tong at the moment.
35% report falling prices
58% report static prices
8% report rising prices
Over a third now report falls. Nice.0
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