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Oh Dear™

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    Oh Dear™

    https://www.bbc.co.uk/news/business-63886983

    UK house prices saw their biggest drop in 14 years in November, falling 2.3%, reflecting "volatility" in the market, according to mortgage lender Halifax.

    First Law of Contracting: Only the strong survive

    #2
    It's a boom on the way up and "volatility" on the way down

    Crashy, crashy, negative boom.

    Comment


      #3
      Did the actual price of housing fall or did the rate at which the price increases fall?

      (too lazy to read the article)

      Comment


        #4
        Originally posted by ladymuck View Post
        Did the actual price of housing fall or did the rate at which the price increases fall?

        (too lazy to read the article)
        Depends on your timeframe, I expect. I doubt it has gone YoY negative yet. That is probably still a few months out . That said, in real terms, most definitely.

        Comment


          #5
          Originally posted by ladymuck View Post
          Did the actual price of housing fall or did the rate at which the price increases fall?

          (too lazy to read the article)
          House prices are 'falling' but it depends on location. Average house on a suburban estate is falling. Sought after properties such as those near railway stations or tube stations are increasing in price.

          "A people that elect corrupt politicians, imposters, thieves and traitors are not victims, but accomplices," George Orwell

          Comment


            #6
            Bedsits above kebab shops are still grey slates
            First Law of Contracting: Only the strong survive

            Comment


              #7
              Originally posted by jamesbrown View Post
              I doubt it has gone YoY negative yet. That is probably still a few months out
              Hard to see this not happening with interest rates soaring, rampant inflation, a cost of living crisis, recession and unemployment.

              The markets are expecting another 0.5% from the BoE next week, and for rates to peak at over 4% next year.
              Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

              Comment


                #8
                https://www.theguardian.com/business...-for-mortgages

                Removing the affordability check for a 3pc rate rise implies that rates are going to increase and lots more people won't be able to afford their mortgage

                Comment


                  #9
                  That aged well.

                  Scoots still says that Apr 2020 didn't mark the start of a new stock bull market.

                  Comment


                    #10
                    Originally posted by DealorNoDeal View Post

                    Hard to see this not happening with interest rates soaring, rampant inflation, a cost of living crisis, recession and unemployment.

                    The markets are expecting another 0.5% from the BoE next week, and for rates to peak at over 4% next year.
                    The UK housing market never goes medium, it always goes big, boom or bust.

                    Comment

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