Wednesday, April 09, 2008

Housing market decline

The housing market is looking a bit bleak at the moment. An interesting site to read is http://www.housepricecrash.co.uk/ which is trying to counteract the overexcited spin of the financial analysts. These are the weasels who obviously are going to make less money if the market goes down. It's interesting to see on the HPC site the only people predicting the market will go up are the people who will make money from it going up. All the economic pundits and research institutes are predicting falls. This essay is very interesting.

The spokesman from the Nationwide was amusing yesterday morning on 5 live. He was trying to paint a rosy picture of things and yet the tone of his voice suggested that even he didn't believe what he was saying! There are amusing asides to the coming pain but it will be good for younger people in the end. The Property Snake (opposite of propery ladder!) shows falling prices in most places and long house sale durations.

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