Originally posted by sasguru
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Having bailed out of the British property market in 2005 to flee the country, it all just seems weirder and weirder when viewed from outside. It never ceases to amaze me just how much reliance people put on the sense of worth/wealth that they get from owning their house. Talking to my mums neighbours, and even my mates, going on about their 250k (in G81 ffs!) goldmines always makes me chuckle as I can think of nearly no-one round those parts that could afford the place they live in at its current 'value'. Incomes are being squeezed by inflation, indirect taxation etc. and any negative trend in house prices will take away any feeling of well-being pretty sharpish. To me it seems even more precarious than the already dodgy economic facts. Cataclysmically doomed
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You should always take the phrase "experts say...." in connection with houseprices with a pinch of salt.Leave a comment:
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Just got back home drunk from new pub with gr8 german beer
House prices will raise.Leave a comment:
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Experts say house prices might fall...
http://news.bbc.co.uk/1/hi/business/7049930.stm
The IMF says there is evidence to suggest that the UK and a number of other European nations are also vulnerable to a price correction.
Its points to the fact that UK house prices have risen far higher than incomes over recent years.
But, it adds, a lack of supply could continue to hold up UK prices.
The Department of Communities and Local Government said earlier this week that the annual inflation rate for property fell from 12.4% to 11.4% in the year to August.
Newsflash - It might be very cold tomorrow, but then again, it will probably be okay.
Experts eh?
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