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Debate House Prices
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Tide turns on ludicrous boom in house prices
Jonbvn
Posts: 5,562 Forumite
Good article in the Torygraph this morning by Roger Bootle, who is quite a respected economist.
In the US, the housing market is in a dire state. House prices are already about 10pc down with no sign of stopping. Over here, prices have started to edge down, but so far the fall has been small. Don't relax, though. We may be behind the US - but we are following. The adjustment in the market which I and other commentators have expected is finally here.
Certainly a more honest appraisal than the rubbish they recent published about the green shoots of recovery!
In the US, the housing market is in a dire state. House prices are already about 10pc down with no sign of stopping. Over here, prices have started to edge down, but so far the fall has been small. Don't relax, though. We may be behind the US - but we are following. The adjustment in the market which I and other commentators have expected is finally here.
Certainly a more honest appraisal than the rubbish they recent published about the green shoots of recovery!
In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
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a bit quite here today, people waiting for Halifax report .. ?All my life my mother told me the storm was coming (c) Terminator 30
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Just to resurrect an old thread from almost three and a half years ago, could have been posted yesterday though, just shows how foolish it is to try and predict the market.Thankyou Sir Alex for 26 years0
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Didn't house prices shoot up shortly after this article was published?0
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Didn't house prices shoot up shortly after this article was published?
Not in my neck of the woods, or anywhere else, except perhaps inside the M25.
We knocked £30k off the price of our house about a month after this article was published and found buyers a month after that. Others took longer to wake up and smell the coffee, so in the meantime, our agents closed down due to lack of sales.
I would say the article was as Jonbvn described it, and those who agreed with its analysis, far from 'foolish.' However, personal circumstances ultimately decide what is the right decision for individuals. Sitting tight and doing nothing would have been a sensible alternative option....for some.
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No. They continued to see nominal falls for a further 12 months. At a rate far higher than they did in the last crash.
Before rapidly recovering. At a rate much higher than the last crash.“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 -
Is this Roger Bootle, then of Capital Economics?
CE are the ONLY party to consistently mis-call the market: having been bearish for years up to mid-2007 they then announced that HPI was going to ramp on upwards in the Summer of 2007.
What a bunch of muppets
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HAMISH_MCTAVISH wrote: »Before rapidly recovering. At a rate much higher than the last crash.
With much diminished volumes.
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nollag2006 wrote: »What a bunch of muppets
;0)
He who laughs last laughs longest.0
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