House prices back to 2008 levels

**TimberWolf** · 2 October 2009, 08:14

Originally posted by DimPrawn View Post

http://news.bbc.co.uk/1/hi/business/8286028.stm

UK house prices have now recovered to the same level as a year ago, according to the latest Nationwide figures.

The average price of a home last month was equal to September 2008, it said.

The building society said that UK house prices rose by 0.9% in September compared with August, the fifth consecutive monthly increase.

http://newsimg.bbc.co.uk/media/image...ces_1oct09.gif

Gordon has saved us.

They've dropped in real terms though, as compared to what they are worth globally. And here due to inflation too.

**badger7579** · 2 October 2009, 08:52

Can I get a "Woop Woop"

**Platypus** · 2 October 2009, 08:55

Originally posted by TimberWolf View Post

They've dropped in real terms though, as compared to what they are worth globally. And here due to inflation too.

How is a house in Britain worth anything globally?

**TimberWolf** · 2 October 2009, 08:56

Originally posted by Platypus View Post

How is a house in Britain worth anything globally?

When you sell it, the money you get is worth less because the currency is worth less.

**Doggy Styles** · 2 October 2009, 11:16

It's a blip. The economy has been inflated again by the newly-borrowed money, plus the printed money. When that runs out, house prices will go down again.

That's quite apart from unemployment increasing.

**DimPrawn** · 2 October 2009, 11:16

Originally posted by Doggy Styles View Post

It's a blip. The economy has been inflated again by the newly-borrowed money, plus the printed money. When that runs out, and as unemployment carries on increasing, house prices will go down again.

That's not what Kirsty and Phil are saying.

**TimberWolf** · 2 October 2009, 11:20

Can house prices be allowed to fall too far? What if, say, a million people in negative equity called in their chips. Wouldn't this bring the banks down?

**BolshieBastard** · 2 October 2009, 11:37

Need to come down further. House prices are still massively inflated.

**NoddY** · 2 October 2009, 14:11

The whole financial apparatus of the State applied to keeping the bubble going - and the best result is a reduction in house price falls. Gordon will not be happy.

House prices back to 2008 levels