Debate House Prices
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Nationwide goes negative YOY

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Just read http://www.nationwide.co.uk/hpi/historical/apr_2008.pdf
Interesting it talks about "85% of borrowers will be seeing no impact or will benefit directly from reductions in the bank rate this year.
This is good news for the overall stability of the housing market and is a significant factor that differentiated the housing market of today from that of the late 1980's and early 1990's:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
IveSeenTheLight wrote: »Just read http://www.nationwide.co.uk/hpi/historical/apr_2008.pdf
Interesting it talks about "85% of borrowers will be seeing no impact or will benefit directly from reductions in the bank rate this year.
This is good news for the overall stability of the housing market and is a significant factor that differentiated the housing market of today from that of the late 1980's and early 1990's
Presumably 15% are shafted? If so I think it's enough to move the market if they have to sell.0 -
Presumably 15% are shafted? If so I think it's enough to move the market if they have to sell.
More than enough. Normal turnover in the housing market is I believe equivalent to 10% of existing stock. Add to the 15% every new build yet to be sold and I would guess you're looking at supply more than doubling from forced sellers alone.
Let us not forget that this at the end of the longest period of economic growth with low(ish) inflation that I can think of. What do you think will happen if unemployment starts to rise, say as companies are unable to invest as a result of the credit crunch and thus unable or unwilling to employ more workers?0 -
More than enough. Normal turnover in the housing market is I believe equivalent to 10% of existing stock. Add to the 15% every new build yet to be sold and I would guess you're looking at supply more than doubling from forced sellers alone.
Let us not forget that this at the end of the longest period of economic growth with low(ish) inflation that I can think of. What do you think will happen if unemployment starts to rise, say as companies are unable to invest as a result of the credit crunch and thus unable or unwilling to employ more workers?
Shhhhhh... you'll upset those clinging to their last straw.0 -
Been too busy recently to contribute, but couldn't resist popping in to see how the year on year fall is going down here.....
I was looking forward to a few more 'the sky is falling in' headlines, but they do seem to be playing Armageddon pretty quietly out there at the moment.
So, where are all the 'house prices only ever go up' proponents now, I wonder? Aaah, I see they're busy posting threads about how this is not in fact happening, their street/village/area is 'different', etc.
Some things never change....0 -
Presumably 15% are shafted? If so I think it's enough to move the market if they have to sell.
15% seeing an impact does not mean they will be shafted. It means what it says on the tin, they will see an impact.
There are many ways you can affect the impact before you would be forced to sell your house.
When interest rates went up last year, those on trackers, discounts or variables all saw an impact. Were they forced to sell.
Settle:wall:
What we've got here is....... failure to communicate.
Some men you just can't reach.
:wall:0 -
Been too busy recently to contribute, but couldn't resist popping in to see how the year on year fall is going down here.....
I was looking forward to a few more 'the sky is falling in' headlines, but they do seem to be playing Armageddon pretty quietly out there at the moment.
So, where are all the 'house prices only ever go up' proponents now, I wonder? Aaah, I see they're busy posting threads about how this is not in fact happening, their street/village/area is 'different', etc.
Some things never change....
You must be a happy bunny!Don't lie, thieve, cheat or steal. The Government do not like the competition.
The Lord Giveth and the Government Taketh Away.
I'm sorry, I don't apologise. That's just the way I am. Homer (Simpson)0 -
Wow, a whole 1% YOY fall :rolleyes:
Only another 49% to go if you believe half the drivel on this site. Wouldn't take any notice of nationwide/halifax stats either, wait until the official LR publishes
My property has increased by £39,000 within the last 10 months after a valuation a couple of days ago so this HPC nonsense doesn't worry me in the slightest:p
Its the renters amongst you who feel the need to gloat, i'd much rather have money in bricks and mortar than nothing at all.0 -
Wow, a whole 1% YOY fall :rolleyes:
Only another 49% to go if you believe half the drivel on this site. Wouldn't take any notice of nationwide/halifax stats either, wait until the official LR publishes
My property has increased by £39,000 within the last 10 months after a valuation a couple of days ago so this HPC nonsense doesn't worry me in the slightest:p
Its the renters amongst you who feel the need to gloat, i'd much rather have money in bricks and mortar than nothing at all.
Well I'm sure the last downturn started with a 1% YoY fall..... didn't it?.... or did it magically jump to 20%?
Your property may have increased in value. You would only find that out if you sold it. "Valuations" are usually guesstimates by people with a vested interest.
No, I'm not a renter. Yes I own "bricks and mortar". Doesn't stop me seeing the blindingly obvious. But no I don't think we're headed for 50% as your post seems to think we all think.0 -
Been too busy recently to contribute, but couldn't resist popping in to see how the year on year fall is going down here.....
I was looking forward to a few more 'the sky is falling in' headlines, but they do seem to be playing Armageddon pretty quietly out there at the moment.
So, where are all the 'house prices only ever go up' proponents now, I wonder? Aaah, I see they're busy posting threads about how this is not in fact happening, their street/village/area is 'different', etc.
Some things never change....
carolt have you not been banned?0
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