Nationwide March -0.60%

mystic_trev

YOY +1.10%

http://www.nationwide.co.uk/hpi/historical/Mar_2008.pdf

$$$_12

Can't be more than a couple a months before they go YOY -ve now - can it?

Spring bounce?

sarkin

I got up on the wrong side of the bed

$$$_12

sarkin wrote: »

You do have to feel sorry for the homeowners, I would be upset if The home I had just bought was going down in value.

Lots of hugs are thoughts are with you

I don't see why they should be too upset - it's a home not an investment (if you cash in your house - where do you live?)

I've always seen owning your own house as a expensive but nice liability which if you are lucky eventually pays off in terms of living rent free (rather like a classic car).

Finally if prices go down - then it's cheaper to trade up to a bigger one.

But hugs to anyone who doesn't see it that way and are feeling a sense of loss this morning.

Kez100

When prices fall its cheaper to trade up but if in negative equity with no savings you could find yourself stuck or having to save like mad to escape and trade up. That's not necessarily a bad thing - happened to us and in retrospect we have done ok but I'm worried for this market because the prices are so high the negaive equity could be so big people even with two good jobs don't stand a hope in saving enough to move on.

tr3mor

$$$ wrote: »

Can't be more than a couple a months before they go YOY -ve now - can it?

Spring bounce?

Unless prices go UP next month we'll get YOY -ve.

:rotfl:

carolt

http://news.bbc.co.uk/1/hi/business/7317303.stm

The Nationwide said house prices had now fallen for five months in a row and predicted prices would fall further.

"Nationwide chief economist Fionnuala Earley admitted that this was a change to its earlier forecast that there would be no overall change in prices by the end of this year.

"A clear change in sentiment since the late summer has led to the sharp slowing in house price growth, prices are now 1.5% lower than three months ago," she said.

"Expectations of higher house prices will have undoubtedly encouraged some speculative demand in the housing market over the years.

"But with lower house price growth expected now and in the future, the effect will work the other way, causing at least some of this demand to fall away," she added."

Rover

Well really Fiona, you don't say.
And how much do you get paid for this insightful analysis?

Guy_Montag

Rover wrote: »

Well really Fiona, you don't say.
And how much do you get paid for this insightful analysis?

A damn site more than us; does that make her a fool?;)

firsttimetom

Unless prices go UP next month we'll get YOY -ve.

Prices will need to rise 0.67% for it to stay YOY +ve apparently. I don't know if that includes seasonal adjustment though.

si-mate

Makes me a little happier that my purchase has just fallen through. Hopefully in 10 days time we should have the equity from our sale in our bank and moved into a rented house.