You have to look at the 'experts' who say that housing market is on the road to recovery as they all have something to gain from people thinking that prices wont fall much more. Things are getting better by all accounts but there are a lot of things that could go wrong over the next months.
Surely we should hope that we are not moving back to a period of inflated house prices; in this area some houses remain on the market at ridiculous prices as sellers have refused to reduce the asking price.
I see eveything remaining pretty flat until at least the end of 2009, particularly bearing in mind that the American banks probably have a few more shocks for the international markets which speculation suggests are likely to be announced during Q4 of 2009. Hopefully that will signal the end of all of the 'really bad' news and pave the way for a very slow recovery lasting maybe a decade, and that general recovery will feed through into the housing market maybe 3 or 6 months into 2010. Just my opinion :)
My personal opinion is yes house prices need to drop much more in order for the economy to recover.
These experts in my opinion seem to over exaggerate house price recovery so soon! Very wrong! Very stupid and very unrealistic!
However this should not make people panic as all house prices are relative to one another - so if one house price drops then so do the rest so you really should not worry.
House prices should never have been allowed to spiral out of control in the first place!
Perhaps there should be a law or a set percentage increase a home can be sold for or valued for in future to stop all this nonsense on a year by year basis or bi-yearly etc.
Governments are put in place to protect the people of the United Kingdon - so do something about this instead of borrowing trillions to sort our economy out!
Those fat cats from the banks and likes are the only ones who have gained, whom alot now have resigned on great big fat pensions!!! I dont get it - wheres the logic! How, why???? Something drastic needs to be done to sort this country out!
Are the government not worried that some other new parties have become MEP'S which are questionable in their policies - just to say there are 2 of them I know of without mentioning names of the party! so are Brits for changing! ? I do not know.
But I did protest vote myself so I am for change!
Mrs H, Southport.
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