Cheap houses in a recession

[DimPrawn]

http://news.bbc.co.uk/1/hi/business/8226416.stm

House prices in England and Wales rose by 1.7% in July compared with June - the biggest monthly leap in value since July 2004, the Land Registry said.

Every region recorded a monthly rise in prices, with the average home valued at £155,885, the analysis found.


You've got to hand it to Brown and co, these guys really know how the economy works. In Ireland property has fallen about 40%.

[alreadypacked]

Not many houses are being sold at the moment, a few house sales could play havoc with the stats.

[Clippy]

The age old problem of lack of supply helps.

[DimPrawn]

The age old problem of lack of supply helps.

I guess the unemployed can afford the mortgage and bills no?

[Clippy]

I guess the unemployed can afford the mortgage and bills no?

That's where the taxpayer comes in.

[swamp]

Well I sold my flat for a good price. About to rent a nice house instead. Suckers rally I say!

[minestrone]

I sold my tiny executive town house 2 and a half years ago, rented till last week and now stay in a massive semi detached for only 40 grand more.

[nomadd]

You've got to hand it to Brown and co, these guys really know how the economy works. In Ireland property has fallen about 40%.

Brown's an imbecile. This country's debts will take decades to clear. He knows nothing about how an economy works. Remember, this is "Mr No More Boom and Bust". And what have we had under NuLabour - the biggest Boom and Bust in history.

And as for Ireland, they are lucky - they don't have a fool like Brown propping up their housing market - with taxpayers money - until election time.

Come back this time next year, and you'll see our housing market has gone the same way as Ireland, the U.S., Spain, France, Italy, and, er, everywhere else.

Nomadd

[max]

Come back this time next year, and you'll see our housing market has gone the same way as Ireland, the U.S., Spain, France, Italy, and, er, everywhere else.

Nomadd

Not Australia apparently. Didn't even go into recesssion.

[Moscow Mule]

Not Australian apparently. Didn't even go into recesssion.

Yet. Aussie economy is generally 6-18 months behind world trends.

Obviously being a net exporter will help, but I think there might be some pain to come....