From: "Tumbleweed" 
Newsgroups: uk.politics.misc uk.finance
Subject: Re: "Worst housing market for 30 years" as estate agents admit to "overpricing". House price crash on the way ?
Date: Tue, 10 Jan 2006 17:29:59 -0000


"Crowley"  wrote in message 
news:1136886900.942439.233200@g44g2000cwa.googlegroups.com...
>
> Tumbleweed wrote:
>> "Crowley"  wrote in message
>> news:1136829232.235154.109050@g14g2000cwa.googlegroups.com...
>>
>> >
>> > please tell me what it is that is going to keep house prices at
>> > these record levels (relative to p/e ratios) or make them go even
>> > higher as another poster suggested.
>>
>> If they are affordable now for the majority of people who own them, and 
>> they
>> seem to be, then why wont they be affordable next year? Do you expect an
>> economic crash as well?
>
> Of course they are affordable for the "majority" but  rising
> bankruptcies and repossessions suggest that for a growing minority they
> are becoming unaffordable and that is where a downwards correction will
> occur, around the edges.
>


rising bankruptcies are tiny from a tiner base (from the numbers you posted 
IIRC) ,and IMHO much more to do with the ease of declaring bankruptcy than 
any underlying trend.  Repossessions? Post some figures.

-- 
Tumbleweed

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