Housepricecrash.co.uk August 18, 2006
Posted by Brickonomist in Housing markets.trackback
I’ve just discovered the prolific and enjoyably lurid Housepricecrash.co.uk, which bombards its readers with breathless retellings of any news that can possibly be construed as heralding the said crash. I liked the headline they attached to this news from the Council of Mortage Lenders of further strong growth in the buy-to-let market: “BTL lemmings go bonkers“! I don’t know whether or not they started out hoping for a crash, but at this point I’d be looking for one just to avoid looking stupid. Certainly everyone who has called the current years-long house price boom ‘unsustainable’ has so far been wrong, but eventually they’ll be right – but when? And will it end with a bang and a whimper? And would either really be so bad?
You’re either very young and naive or Miss Kirsty la la land Allsop herself!, how can ask whether any sort of crash would be bad? You obviously did not personally witness the housing crash of the late eighties and how it destroyed families. That particular crash started off very small and it’s boom wasn’t under-pinned by so many unstable factors we have today.
This website and others balance out all the spin that we are constantly bombarded with in the media, Ash
quite afew are just sad that they missed out on the boom and are hoping for a crash. sad really.
Pali from london
One friend of mine is a builder selling about 20 houses / appartments p.a and says within the past six months sales have become much more difficult in the 130k – 160k bracket in Leeds area (appts) Rodley & Morley area although built to a very high standard. Other builders offering large incentives such as free smart cars or big discounts of up to 25% off, this doesn’t sound like a booming house market. Sooner or later with higher debts on cards and interest rates rising people will be squeezed and the cycle of negative equity will commence again unfortunatly but probobly sooner
The table have turned out 12 months ago, and clearly the UK housing market is heading for a BIG crash… Whatever you ant to do, do not buy now !! Wait very very patiently. Let the prices go down 20%, then 30%, then 40% and only then consider making an offer. Don’t listen to these manipulated cheat TV programmes like “Property Ladder”, because there is no more property ladder. Miss Sarah Beeny have you found another job?!?