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Debate House Prices
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I've got that sinking feeling about this latest housing slump
Jonbvn
Posts: 5,562 Forumite
From the Torygraph.
The opening para is an excellent analogy!
The property market's twilight period is coming to an end. The past few months have been like the first two hours on the deck of the RMS Titanic after it struck the iceberg. To start with, no one could believe it was sinking. The ship was still well above water and even as the first lifeboats were lowered into the sea, many passengers were reluctant to leave.
Similarly, despite the fact that house prices have been falling sharply since late last year, many commentators had stood by their optimistic forecasts that prices would still rise a little this year. Now, reality is starting to dawn, and even mainstream forecasters are saying we could be facing a crash. Estate agency Savills this week warned there is a good chance houses will lose as much as a quarter of their value in the next few years.
The opening para is an excellent analogy!
The property market's twilight period is coming to an end. The past few months have been like the first two hours on the deck of the RMS Titanic after it struck the iceberg. To start with, no one could believe it was sinking. The ship was still well above water and even as the first lifeboats were lowered into the sea, many passengers were reluctant to leave.
Similarly, despite the fact that house prices have been falling sharply since late last year, many commentators had stood by their optimistic forecasts that prices would still rise a little this year. Now, reality is starting to dawn, and even mainstream forecasters are saying we could be facing a crash. Estate agency Savills this week warned there is a good chance houses will lose as much as a quarter of their value in the next few years.
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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Comments
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What shall we do captain broon-troosers?
Errrrm, ummmm, errrr, tell them we've stopped to take on ice...0 -
no... let's all do the btl 're-arrange the deckchairs' dance!!!!0
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Mr Broderick is on first violin.
Pastures New is sat in a bar in Southampton having lost her ticket in a poker game.0 -
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the goverment wount let house prices drop :beer:
so you all keep renting and hopeing :rotfl:0 -
Mr Broderick is on first violin.
Pastures New is sat in a bar in Southampton having lost his/her ticket in a poker game.
I'd be sat at home, watching the TV BBC News 24, sure it'd sink because ships are heavier than water.... and it's "her"
Any fool knows: If you drop a big bit of metal in water, it sinks. Just because they spray painted a name at one end doesn't change that fact. I'm over here, banked my ticket money... waiting to give it "I told you so" as the survivors disembark, sodden at the quayside.0 -
meanmachine wrote: »And Pickles is in the engine room desperately trying to keep the water out with a cracked champagne flute!!
:rotfl: :rotfl:0 -
the goverment wount let house prices drop :beer:
so you all keep renting and hopeing :rotfl:
Our Government can't even get the first question in the tax exam right, please don't expect them to be able to achieve an A* on the economics paper.
Cells is on second violin!
(Edited earlier message for 'her', Pastures!)0 -
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No, I thought you were a her but I didn't *know* and didn't want to cause offence so showed both! Even when I think, I dig myself into a hole! LOL0
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