Housing market continues to slow....

eurows

Well I told you so. The signs like last time the housing market crashed are so similar today as they were then. Estate agents talking the shop up. Building societies talking the shop up. House owners talking the shop up.

I along with others on this site are the only ones that arn't blinded by the bleeding obvious. What goes up must come down. without exception.

Why is it that EA and BS think that the housing market is the only exception. Even today the Halifax is trying to kid everyone that the economy looks sound. Are they blind. The high street is having a torrid time. A piece on the times website yesterday predicted that Builders and EA will have to start laying people off.

Any sensible investor can see that if you put money into buy to let you are more likely now to loose your rental money in the house devalueing plus getting all the inevitable hasstle from your tenants.

The golden goose has been shot. Its dead. Now its the turn of others such as FTB. What comes round goes round and all that.

Its like in most businesses where people have good times, they think it lasts forever but it doesn't. It ends somewhere and something else takes over.

I too will be pleased to see sanity return and pleased to see FTB's getting back on the market and the greedy BTL's catch a cold.

Glad to see Newtons theories working as well as ever.

Woby_Tide

2:32PM

meanmachine wrote:

"House price rises predicted this year
HOUSE prices remained almost static between January and February, indicating that the market has finally bottomed out, the Nationwide Anglia Building Society reported yesterday."

Yep. I always trust a vested interest when it comes to predicting the property market.

10:25AM

meanmachine wrote:

Wow, according to the Halifax (a vested interest index), prices in May - the strongest month for the housing market - fell by 0.6%.

That's all the proof I need that there's a huge cprrection(sic) underway.

meanmachine_2

Bless you for pointing out my spelling mistakes and for my inconsistencies.

I shall always be indebted to you.

The point I was making is that if EVEN a VI index is admitting to a downturn during the bullish month of May, that's all the proof I need.

But as a previous poster has stated, there's a more enduring theorum you can point to - Newton's law of gravity. Watch out below!

Oh, and please do compare like for like. One is a stat for actual prices. The other is a forecast contradicting actual prices. There is a difference.

But come on then Woby, as a FTBer, you must be desperate for me to open my wallet. What compelling arguments have to got for me that will persuade me to buy at the present time?

Pheno

Woby_Tide> yes I noticed that too

He also seems to have missed that the -0.6% was a seasonally adjusted figure. The actual figure is something like +0.5%.

It is still quite a suprisingly low figure and in my opinion a sign of worse things to come for the housing market, but lets get our facts straight.

meanmachine_2

Pheno wrote:

Woby_Tide> yes I noticed that too

He also seems to have missed that the -0.6% was a seasonally adjusted figure. The actual figure is something like +0.5%.

It is still quite a suprisingly low figure and in my opinion a sign of worse things to come for the housing market, but lets get our facts straight.

I didn't miss that fact actually, if you'd care to read my previous posts.

My, aren't the bulls getting testy.

Pheno

meanmachine wrote:

I didn't miss that fact actually, if you'd care to read my previous posts.

My, aren't the bulls getting testy.

Quite amusing you think I'm a bull considering the last sentence of my post :rotfl:

But personal comments aside, do you understand that quoting a SA figure and then saying "this is an amazing figure for this month of the year" is nonsense?

meanmachine_2

Pheno wrote:

Quite amusing you think I'm a bull considering the last sentence of my post :rotfl:

But personal comments aside, do you understand that quoting a SA figure and then saying "this is an amazing figure for this month of the year" is nonsense?

Any more nonsensical than claiming it's a worrying low figure that points to doom and gloom for the market?

And granted, you're a realist more than a bull. My apologies. And welcome to the site...all of a sudden.

bridiej

**Boardguide note**

Please try and keep on the topic and not resort to personal comments.

All points of view are valid - even though I seem to have deja vu of having this same conversation about house prices every week!!

Bridiej

meanmachine_2

bridiej wrote:

Please try and keep on the topic and not resort to personal comments.

All points of view are valid - even though I seem to have deja vu of having this same conversation every week!!

Us Brits love our endless rants about house prices!

Fear not Birdie, I'm off out into the garden.

Peace and love to all!

Pheno

meanmachine wrote:

Any more nonsensical than claiming it's a worrying low figure that points to doom and gloom for the market?

Not sure what this means...

meanmachine wrote:

And granted, you're a realist more than a bull. My apologies. And welcome to the site...all of a sudden.

Thanks. Sorry for the 'suddeness' but I still haven't worked out how you register to a site gradually...