MSE news 'House price crash is over'

Former_MSE_Guy · 30 July 2009 at 12:26PM

This is the discussion thread for the following MSE News Story, specifically to discuss the views expressed in the article:

"A leading housing market commentator believes prices will rise this year as the market has already reached its bottom.

Today, the Nationwide house price index revealed typical values rose by 1.3% during July. Over the past three months, they are up 2.6%, the highest quarter-year rise since February 2007 ..."

Read the full story:
'House price crash is over'

Scabs · 30 July 2009 at 12:46PM

Sales volumes are minimal so a small rises or falls are more exagerated.
Typical vested interests talking the market up dont really expect to hear anything else from mortgage providers.The few people with cash to invest are investing in bricks in mortar due to little else to invest in with the notion that property always rises. However in my opinion this is a huge bull trap and will soon be full speed crash.

PasturesNew · 30 July 2009 at 12:48PM

Scabs wrote: »

Sales volumes are minimal so a small rises or falls are more exagerated.
Typical vested interests talking the market up dont really expect to hear anything else from mortgage providers.The few people with cash to invest are investing in bricks in mortar due to little else to invest in with the notion that property always rises. However in my opinion this is a huge bull trap and will soon be full speed crash.

What he said.

bingibongi · 30 July 2009 at 12:49PM

Hurrah - its all back to normal then. Boom times here we come!!

Clearly the Nationwide dont believe the continuing rise in unemployment, weakness in the economy and general public concern about debt will restrain the housing market.

BenL · 30 July 2009 at 1:08PM

A quick look at the Nationwide website shows their products are 85% LTV for new borrowers. (Good thing)

Surely if they believe their own press office they would now be selling 100% mortgages as of this morning?

buglawton · 30 July 2009 at 1:10PM

First rise in prices detected after a long time =

HOUSE PRICE CRASH IS OVER, PRICES CAN ONLY NOW RISE AND RISE FOR EVERMORE!

Thermidor · 30 July 2009 at 1:11PM

House prices bottomed out end of last year. Then they stabilised (as predicted) and are now back on the up (as predicted).

The crash never really happend - just few overprived properties were corrected. That's all.

Bean_69_99 · 30 July 2009 at 1:18PM

i wonder if the nationwide COULD also produce statistics saying that there are also indications that things are getting worse and houses are erady to go again with the same validity...

if it paid for them to do so obviously.:think:

bigfatbelly · 30 July 2009 at 1:21PM

Everyone knew house prices were set to rise again and a lot of people very correctly predicted they'd start rising in the summer of 2009. Spot on!

JayZed · 30 July 2009 at 1:22PM

Surely this thread is on the wrong board? The house price nutters are over on the "Discuss house prices" board.

mlz1413 · 30 July 2009 at 1:24PM

When mortgage lending goes back to 3.5 times the salary or 3 times the main plus the lowest and people can afford to buy a house at maximum lending of 95% LTV, then I will believe the crash / correction is over.

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MSE news 'House price crash is over'

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