Doom (has it been done?)

[Bagpuss]

Home owners who bought at the top of the market last year have seen £13,500 erode from the value of their house as prices continued to fall in June, according to the Nationwide Building Society.

House prices have slumped by 7.3% from their peak last October pulling the average house price down to £172,415 in June from £186,044 at the top of the market.

The rate at which house prices fell slowed month-on-month to 0.9% in June from 2.5% in May.


So we are getting toward -10% in 8 months

[DaveB]

Dead Cat Bounce.

We are heading into peak buying season for houses now which is why the rate of decline has slowed.

There has been no good news to encourage buyers or sellers and once the summer season has passed prices will dip sharply again.

The credit crunch will really bite in the run up to Christmass and won't ease again till the spring.

IMO house prices will continue to fall until may/june next year.

[rootsnall]

Double doom - have you seen the FTSE today, tanking nicely ( if you are a doomster that is ! ).

I foolishly tried a bit of bottom fishing in shares and have been stung, I've hopefully learned my lesson and will steer well clear and sit back and watch

[rootsnall]

IMO house prices will continue to fall until may/june next year.

And the rest, obviously IMHO !

It has took years of silly prices before the tide has turned, I think it'll take years to stop it now. If we do have a recession and job losses I think it'll get scary as forced sellers emerge.

[DaveB]

And the rest, obviously IMHO !

It has took years of silly prices before the tide has turned, I think it'll take years to stop it now. If we do have a recession and job losses I think it'll get scary as forced sellers emerge.

Depends on how many people are waiting in the wings to cash in. If the market drops sufficiently I suspect there will be a lot of ready cash waiting to take advantage and in turn help to restore the market.

[Diver]

Double doom - have you seen the FTSE today, tanking nicely ( if you are a doomster that is ! ).

I foolishly tried a bit of bottom fishing in shares and have been stung, I've hopefully learned my lesson and will steer well clear and sit back and watch

I'm heavily investing in wheelbarrows.

everyone will need one soon to carry enough money for a loaf of bread.

Who the f#@%s in charge here - Mugabe?

[expat]

I foolishly tried a bit of bottom fishing and have been stung, I've hopefully learned my lesson and will steer well clear and sit back and watch

Best to avoid the stinging bottoms.

[TimberWolf]

Who the f#@%s in charge here - Mugabe?

Sir Robert

Ah, maybe not.

[rootsnall]

Depends on how many people are waiting in the wings to cash in. If the market drops sufficiently I suspect there will be a lot of ready cash waiting to take advantage and in turn help to restore the market.

I guess it depends if you are a doomster (me) or an optimist !

I think the smart experienced money waiting in the wings won't be moving back in for the forseeable future. There was a property dead cat bounce last time about two or three years into the slump but then the 92 recession kicked in. IMHO I'd wait until the recession I assume we'll have in the next year or two is well and truly out of the way.

[HairyArsedBloke]

e-ba gum and the rocking horse kid are peas in a pod.