Q:http://www.dailymail.co.uk/news/article-1037989/Mortgage-approvals-sink-record-low-prices-plunge-fastest-rate-1950s.html
My favourite part;
'That was partly due to the unwillingness of many sellers to accept a lower offer."
JD
A:Daily Express headlines needed for balance, as according to The World's Greatest Newspaper house prices only ever go up.
A:Here's a link to the original:
http://www.bankofengland.co.uk/publications/agentssummary/agsum08jul.pdf
A:'That was partly due to the unwillingness of many sellers to accept a lower offer."
I read the original BoE agents report when it came out yesterday. The part above was in it, as was a section that said "…some estate agents reporting a cancellation rate of up to 40%…"
It actually (and unusually) made rather depressing reading about the state of the housing market and the economy in general.
A:You should try quoting from a less scaremongering overexagerating b*llsh*tting source!
And if you'd read the article you'd see that the source was the Bank of England
I didn't think the article was very surprising, given the collapse of mortgage approvals and general uncertainty which only has to hit one part of a chain to have a knock-on effect.
A:I know the mail is less than balanced – however the message that people are not being realistic in their pricing is one that I wholeheartedly agree with. I completed my sale last week and only managed to do so because I was realistic about the price it would achieve. The town I sold my house in and the village I hope to buy in both appear to be stagnating house wise. Very little new appearing on the market and very few prices being adjusted. It's a pain when i'm viewing houses which have been on the market over 8 months and they've dropped by ￡5k and the sellers seem to think we're desperate to buy their house at that price. It's a difficult conversation to have with them or the estate agent TBH,
JD
A:It's the
DailyMail! (which means it's more likely to be 1 out of 10 – this time last year they were saying we'd see a 40% drop this year, and 12 months later it's only been 10% on average, if not less).
You should try quoting from a less scaremongering overexagerating b*llsh*tting source!
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