Oh Dear: Housing Market Gloom

[milanbenes]

well folks the Oh Dear (tm) brand has been hibernating for a while but it now looks like economic conditions are determining the reserection of the Oh Dear (tm) brand as a lot of Oh Dear (tm) brand worthy material is appearing in the media beginning with this one...

http://business.timesonline.co.uk/to...cle2253663.ece

'Confidence in Britain’s housing market is drying up as would-be purchasers gloomily await the worst from the Bank of England, a leading survey of the sector finds today. ',


Good luck folks.

Milan.

[sasguru]

If they think 5.75% is the worst, pity help them...

They're not far off - won't go beyond 6% IMHO

[ChimpMaster]

Loosely measured, Interest rate = Inflation + growth.

I read this somewhere before... I think in a Richy Rich comic.

[thunderlizard]

Isn't this what you always get in the papers?

GLOOM: house prices set to fall off this month

then 6 weeks later

BOOM: nope, they went up after all

[Bagpuss]

“We expect the repossession rate to rise again this year, in response to, amongst other things, rising capacity pressures and high money supply growth. This will . . . push down housing market activity levels. We expect house price growth to be markedly weaker by the end of the year.”


Surely they mean mortgage rate? else that paragraph doesn't make sense. Does anyone proof read newspapers anymore?

[BlasterBates]

I see two scenarios:

Scenario 1: banks withdraw credit causing a full blown housing crash, misery and negative equity.

Scenario 2: Liquidity withdrawn by bank is replaced by greedy high risk intergalactic investors perhaps from Andromeda, or using time travel buyers access capital from future generations, thus providing liquidity to keep the market going.

[Francko]

I see two scenarios:

Scenario 1: banks withdraw credit causing a full blown housing crash, misery and negative equity.

Scenario 2: Liquidity withdrawn by bank is replaced by greedy high risk intergalactic investors perhaps from Andromeda, or using time travel buyers access capital from future generations, thus providing liquidity to keep the market going.

Scenario 3: hordes of immigrants leaving their EU country push up the house prices until the population of England is around 700 milion. All the other countries will be slaves to her Majesty. At that stage England has to take over Africa, South America and a continent of your choice or kill the yellow brigade.

[wendigo100]

Cue "Land of Hope & Glory" plus "Rule Brittania"...

And a toast with Victory Gin!

[miss marple]

And a toast with Victory Gin!

I guess Bombay Sapphire gin leaves a nasty outsourced taste in many circles in the UK these days....

[Gonzo]

I guess Bombay Sapphire gin leaves a nasty outsourced taste in many circles in the UK these days....

Surely that would be Mumbai Sapphire now