"Aztech" wrote
Ah, but due to the same reasons, the mortgage loan which you still owe on the property *also* has effectively reduced by 30% (in "purchasing power" terms). So the bigger the mortgage loan, the less "worse off" you are -- and for a 100% loan, you're actually in the same position!!
Heres some more of those headlines from 1989 (the year the last house price crash started and prices fell for 4/5 years) ........
The Times TUE 03 JAN 1989 Agents optimistic about house prices A leading national firm of estate agents believes a collapse in the property market in 1989 is highly unlikely. Strutt and Parker has completed a review of 1988 trends, dominated by panic buying in the summer, then a London-led slowdown in the last q...
The Times FRI 06 JAN 1989 Shortage of teachers in Essex linked to soaring house prices Essex faces a chronic shortages of teachers because of soaring house prices, according to a survey by the National Association of Schoolmasters/Union of Women Teachers. Eight per cent of teachers are moving from the Basildon and mid-Essex area to ot...
The Times MON 06 MAR 1989 House prices recover House prices, suffering from the effects of interest rate increases, showed a slight recovery in February, rising by 1.6 per cent, compared with a fall of 0.8 per cent in January, Halifax Building Society reports today. The index shows that over the...
The Times WED 08 MAR 1989 Agents forecast up to 20% rise in house prices near route;Channel tunnel rail link Property prices in Kent in areas within reach of stations on the Channel tunnel rail link are likely to rise by 10 to 20 per cent because of improved access to London the line will bring, according to estate agents in the county. They believe that th...
The Times WED 29 MAR 1989 House trend bucked;Quarterly prices Property in the north of England is showing steady price increases against the trend elsewhere, according to the Halifax Building Society. The average quarterly price change is zero, varying from falls of 5 per cent to rises of 5 per cent. In contra...
The Times FRI 07 APR 1989 North booms;House prices House prices in northern areas, including the North-west, Yorkshire and Humberside, increased by 10 per cent in the last three months compared with a rise of only 1 per cent in the London area, the Nationwide Anglia Building Society's new house marke...
The Times MON 10 APR 1989
10% house price rise forecast House prices in Britain could rise by up to 10 per cent this year, although the South of England will see only a modest if any increase, it is predicted in a report published today by the House Builders' Federation. Even in the South, however, house ...Back to top The Times WED 07 JUN 1989 Bigger rise;House prices UK House prices rose by 1.7per cent last month compared with 1.2per cent in April, in spite of stagnant or falling prices in the Midlands and South, the Halifax Building Society said yesterday. HOME NEWS
Back to top The Sunday Times SUN 05 NOV 1989 House prices may rise next spring BRITAIN'S depressed housing market could pick up much sooner than expected, according to a forecast to be published this week. The Morgan Grenfell bank believes the housing market has reached a point where recovery is in sight. It says rising income...
The Times THU 09 NOV 1989 House prices 'to rise' Property prices in London, the south-east and East Anglia will recover next year and begin to increase by about 10 per cent a year, according to Morgan Grenfell, the merchant bankers, in a report on the housing market published yesterday. The recover...
The Times FRI 17 NOV 1989 House prices to recover next year House prices are expected to reach a turning point in the third quarter of next year after a two-year decline, Charterhouse the merchant and investment banking group said yesterday in its annual study of the housing market. A week ago another firm of... 1990 - HISTORICAL NEWS REPORTS ON HOUSE PRICES
Well indeed hyper-inflation is a lovely way to erode debt, with the unfortunate consequence of trashing the economy in the process, but if there is no capital appreciation the money isn't there to realise! If actual prices dropped back a modest 10% you could sell and still not clear the loan despite all that lovely inflation.
Then you have to consider the what the eventual interest rates when it comes to tackling the inflation, they'd have to do something eventually.
so one headline cancels the other headline out ..so why do you folks keep posting them all the time as if they mean something?
hardly
Eh ? Ive posted them once. Hardly "all the time" is it ?
One echoes the other proving how equally useless the predictions from esteemed bodies like RICS really are.
<Erm, you're the one who originally linked to these soothsayers :-
"no need to panic, move along please, nothing to see here
If some people predict a crash all the time, they will be right at some point. Someone who would predict the exact time when prices start falling and how much they will fall by and when they will start rising again, would be useful.
I dont know of any people who predict a crash "all the time". Ive been predicting one since early on in 2004
Prices started falling last August according to Hometrack and others, there have been a couple of upward blips since. My prediction is for falls of 30 to 40% from current levels before they start on the upward cycle in 5/6 years time IMO. But caveat emptor DYOR
If you want more try Nostradamus.
oh right I must have been hallucinating the stream of news reports posted here every time Trevor Macdonald, The mail, or the Economist fart.
If theyre boring you then why read them ?
In message , s snipped-for-privacy@yahoo.com writes
I'll be sure to let you know
They'd also be so rich, they'd have people to post to usenet for them.
FoFP
No, I didn't post those either.
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