DOOMED House prices still falling fast

[Doggy Styles]

If you sell your house low, you buy a new one low.. it's all relative.. if you have to live in a house that you bought then it makes absolutely no difference whether it's worth £1 or £1,000,000 if you don't plan on selling it anyway.

The only people who are screwed are those who borrowed up to their eyeballs and now need to sell.

Not really. Many people invested in their house and intend to downsize when they retire and use the margin to top up their pension (or use as their pension if they haven't got much else). For them, lower house prices means lower pension.

[chris79]

If you sell your house low, you buy a new one low.. it's all relative.. if you have to live in a house that you bought then it makes absolutely no difference whether it's worth £1 or £1,000,000 if you don't plan on selling it anyway.

The only people who are screwed are those who borrowed up to their eyeballs and now need to sell.

[Purple Dalek]

Where has Cybertory disappeared to. I miss his humour.

Well, you're him, so you should know...

[Doggy Styles]

If he times his entry into the house market right, AtW could be laughing.

But it'll never happen because property is theft, right?

[lilelvis2000]

Good news I'd say. Makes houses more affordable for when the banks start lending again.

[DiscoStu]

Surprisingly, a particular house belonging to CyberCretin in CyberToryShire continues to show solid growth in house prices, bucking the national trend. Experts are baffled as to why this should be so, but speculate it is due to the rare bulltulip emitted from this property, which is much prized by collectors.

[sasguru]

You missed the last paragraph:

Surprisingly, the area of CyberToryShire continues to show solid growth in house prices, bucking the national trend.

Surprisingly, a particular house belonging to CyberCretin in CyberToryShire continues to show solid growth in house prices, bucking the national trend. Experts are baffled as to why this should be so, but speculate it is due to the rare bulltulip emitted from this property, which is much prized by collectors.

[oracleslave]

You missed the last paragraph:

Surprisingly, the area of CyberToryShire continues to show solid growth in house prices, bucking the national trend.

Where has Cybertory disappeared to. I miss his humour.

[DiscoStu]

You missed the last paragraph:

Surprisingly, the area of CyberToryShire continues to show solid growth in house prices, bucking the national trend.

[BrilloPad]

http://news.bbc.co.uk/1/hi/business/7764272.stm

House prices fell another 2.6% in November, the Halifax says.

According to its latest survey, that increased the annual rate of house price falls to 14.9%.

The Halifax said that on its calculations, the average property in the UK was now valued at £163,605, a level last seen in July 2005.

Last week, the Nationwide building society said the pace of house price decline had eased off, with prices down 13.9% in the year to October.

"The combination of high house prices in relation to earnings, constraints on householders' incomes and spending power, and the decline in the availability of mortgage finance since the summer of 2007 has curbed housing demand," said the Halifax's chief economist, Martin Ellis.

The lender's calculation suggests that the average house price has now dropped by £31,485 in the past 12 months.

It calculates the annual rate of decline by comparing the average house price over the past three months with the average for the same three-month period the year before.

A straightforward monthly year-on-year comparison suggests that prices may have fallen even faster, by 16.1%, although the lender argues that this approach can be distorted by short-term price fluctuations.