Nationwide says house prices falling fastest in 18 years
Nationwide says house prices falling fastest in 18 years - Times Online
Gordon the moron's sham economics now fully exposed for all to see. House price rises where unsustainable and now they are correcting. There is nothing that can be done to correct this.Grim evidence that the slide in the housing market is deepening emerged today as the Nationwide building society reported that prices were falling at their fastest annual rate in almost 18 years.
The Nationwide, the UK's largest building society, said house prices falls were now reaching double digit levels and falliing at a rate not seen since the fourth quarter of 1990.
In its latest monthly assessment of the market the society said the price of a typical house had fallen by 10.5 per cent over the last 12 months to £164,654.
The monthly drop in house prices accelerated to 1.9 per cent in August, Nationwide said. The society reckoned that prices fell by 1.5 per cent the previous month.
If you think this nice little earner was sustainable explain who this was going to work?
The logic of HPI @ 10% YoY means your £100k house would be worth £1.38bn in 100 years.
Any takers?
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