SKY NEWS NOW

Telling us the truth at last......

He says 25% by the way - but I reckon 20% this next 12 months.

The economy is basically built on sand at the moment.

The CRASH is coming in the Autumn.

I would not buy a house at current prices - the guy reckons they will be able to be picked up very cheaply in about 2 - 3 years time if people are patient.

Anyone who buys now will regret it later when they go into negative equity.

Someone in my family finally sold their house this week but had to accept 10% less than they had it on the market for - and that was 40% less than it was valued at one year ago.

So even the prices you see at Estate Agents are about 10% above what people are paying.

Only 45,000 properties were sold last month - normally it is around 130,000 in June. So the market remains totally depressed - once we get into winter and the seasonal effect which will half what June is - then maybe only 30,000 - 40,000 properties will shift pushing down the prices even further.

Tax rises like VAT coming this autumn and others will again depress the spending power of individuals and reduce profit margins for businesses.

The stimulus should have worked by now. The massive amount of money the Government put into the economy should have seen things stabilise. At best the rate of collapse has been slowed. That is not good enough because it has failed to halt the collapse.

Therefore unless we can have another stimulus package in September of about a Trillion into the real economy from Government there is no hope for a rebound. The Government does not have this money and is in fact getting deeper into the red.

Their only policy is to "massage" unemployment statistics by taking 50,000 out of the stats and giving them "non jobs" until the election - to make the figures not so catostrophic. This is just plain old using TAXPAYERS money to "Buy" stats for the Labour Party. None of these jobs are real. We might as well recruit another wave of Plastic Plastic Police to assist the Plastics ( this time on min wage for 16 - 20 year olds ) and call it Police Apprentice Scheme.

That could instantly add another 50,000 to the Police force and cost virtually nothing and bring down Unemployment by 50,000 more.

This Government is covering up the REAL SITUATION. When the truth comes out - then there could well be rioting in many places. Our economy is basically bust. The stimulus has failed ( just look around the High Street ) and outside of Government employment there is very little left in the UK. It reminds me of the old Soviet Union where there was no unemployment at all - but no one did a job that actually did much.

Rubbish.

I bought two flats... one in E14 (Docklands) - the other in Balham.

Total profit in the 10 months (between purchase and sale/this year) - £60k, 10%

Don't believe what you read.

Um - I did not read it - it was a house my family were selling in Manchester way.

There are bargains to be had.

The bloke on SKY was an expert - it was what he does for a living. Equally he got the last 12 months drop in price almost right.

The facts are clear - yes there will be exceptions - and you are very lucky.

But as Locked Out would say - dont just use one example and try and extrapolate that as the norm. The one example needs official statistics or local statistics to back it up.

I have given - personal experience + national statistics from the Government + expert on Sky News

Nothing I wrote had anything to do with what i have read anywhere bizarrely........

BR.....again, you miss the point.

There is not just one property market in the UK - there are 100's and all have different statistics.

For simplicity, I give two extreme examples.

Park Lane/Belgravia. Prices/demand have not really changed.
Kirby. There is no market whatsoever.

In between, different areas have vastly different markets; but to give broad figures for the entire UK is not as relevant as you think.

Ask your expert; I think you'll find he'll agree.

Yesterday on radio 5 live, one of the main news stories was that house prices are on the rise for the third month running, which is the complete opposite to what you are saying. Who would you trust more the bbc or Murdoch's right wing sky news.

Well Roger - I agree with you.

But you can put all the figures together ( as the National Stats office does ) and then release them. Are you saying that their statistics are wrong ?

No I am not - only that there are so many different markets to make the combined figures less than relevant to most of us.

In the national press yesterday, a third of an acre plot (no house) in Sandbanks,Poole was offered for £13.5m. Places like Hastings and Dover will offer flats for less than JK's car.

Oh Roger..you are the worst of the worst-a property speculator !!

Come the revolution it's you we are putting against the wall and I'll be aiming my .303 from my wheelchair...

but you are perfectly correct though. The property market is made up of many factors and it's always-location location location.

That's been one of the worst aspects of the articficially created market over the past 10 years with an alignment of specualtors and hand-in hand governments who relaxed controls-in the USA, UK and Australia.

Telling those in the middle class they could have it all and should shove every spare penny into property and allowing them to believe they had real wealth when it was just all on paper.

It was all bound to end in tears and we get what we have today-a collapse in some areas but never the banks of course-they get our money for free to lend back to us and charge interest. And the cycle can begin all, over again !.

But don't get me wrong-In no way am I anti-capitalism. I'm just still waiting to see it put in place one day.