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Debate House Prices
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Bank of England warns on house price 'correction'
lukeh23
Posts: 207 Forumite
http://www.bbc.co.uk/news/business-27253097
Sir Jon Cunliffe, one of the Bank's deputy governors, said it would be "dangerous to ignore the momentum that has built up in the housing market".
He also warned about a possible "sharp correction, with negative equity and an overhang of debt for many households".
Sir Jon Cunliffe, one of the Bank's deputy governors, said it would be "dangerous to ignore the momentum that has built up in the housing market".
He also warned about a possible "sharp correction, with negative equity and an overhang of debt for many households".
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Comments
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They've been saying that for years though ... I gave up, I'm just buying one. Can't sit and wait for this correction forever..... and/or I missed it.
At least I'll never be in negative equity....0 -
Yeah, I mean outside London prices have gone down 2% since 2007.
Super overheated, really dangerous to ignore this.0 -
Blacklight wrote: »Yeah, I mean outside London prices have gone down 2% since 2007.
Super overheated, really dangerous to ignore this.
Yes and they went down during 2008-10
They are now 'rising' to the 2007 level (which was the peak). With predicated growth they will be above 2007 prices, before the end of this year.
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There will be no correction, this is just hot air. Time to fill our boots and jump aboard the gravy train. Next stop HPI0
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PasturesNew wrote: »At least I'll never be in negative equity....
No one can say that for certain.0 -
With an abundance of free money (well, very nearly free!) there will be no correction at all ......... the young have never had it so good.Bringing Happiness where there is Gloom!0
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I think, the price of housing is increasing rapidly in England.0
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Yes and they went down during 2008-10
They are now 'rising' to the 2007 level (which was the peak). With predicated growth they will be above 2007 prices, before the end of this year.
Isn't that the UK average? When that hits its 2007 nominal level it will still be below the 2007 nominal level in many areas.
And that's before we bring inflation into the equation.0 -
Carney lost me when he said something along the lines of the UK is not building enough houses because Canada is X times bigger and builds X times more.
It's nonsense.
The need for new housing comes from the demand created by new households. The overall size of the housing market is irrelevant.0
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