Run for cover when house prices implode

Nick Curtis
May 2013
Evening Standard;5/17/2013, p15
I WISH my house was worth less. This may get me expelled from the Smug Gits' Club (membership: anyone who was ever lucky enough to get a mortgage in London), but the upward spiral of property prices in the capital gives me vertigo. Apparently there will soon be no homes for sale for less than £100,000 in inner London. Whaaat? How can it be good for the social health of the capital if it becomes a ghetto for homeowners, increasing numbers of them non-resident investors, or landlords who will further push up rents for those unable to buy? How long can we lucky few hold onto the rising balloon of homes we could no longer dream of affording? How can so much of the economy's cash be trusted to this fragile bubble? Since most financial experts have been proved as useful as a chimp with an abacus, my fear that a crash is coming should be taken as seriously as the Bank of England's belief in an economic upturn.


Related Articles

  • SATELLITE, DIGITAL AND CABLE CHANNELS.  // Mail on Sunday;7/22/2012, p48 

    The Imploders

  • Looking for a bottom. Els, Frik // Finweek;6/12/2008, p22 

    The author reflects on the imploding economy in South Africa. He states the effect of the country's imploding economy on people. He mentions the sub-prime problem facing the country particularly the house prices and the increasing interest rates. He comments on the biggest threat to the country...

  • Think: Is it Time to Raise Your Prices? King, Ruth // Air Conditioning Heating & Refrigeration News;05/15/2000, Vol. 210 Issue 3, p1 

    Discusses factors heating, ventilation and air conditioning contractors should consider when planning to raise their prices. Instances when union contractors raise their prices; Hiding replacement price increases through the divisors used to determine the sales price; Impact of housing...

  • AIN'T NO CHOKE! MICHEAL CLIFFORD // Daily Mail;8/2/2012, p62 

    ANDY MORAN scoffs at the notion that when Mayo come to Croke Park they are more likely to implode than explode.

  • Entrepreneur Elon Musk Ventures Beyond The Sky. BRIAN DEAGON // Investors Business Daily;8/22/2012, pA03 

    Elon Musk's worst year was 2008, when it seemed all his business achievements were imploding.

  • FIRST TIME IN FOREVER.  // Kirkus Reviews;1/15/2015, Vol. 83 Issue 2, p1 

    When Emily Donovan's life implodes, she seeks refuge on Puffin Island, Maine.

  • Dynamic Equilibrium of the Housing Market. Tse, Raymond Y.C.; Webb, James R. // Urban Studies (Routledge);Dec99, Vol. 36 Issue 13, p2361 

    This paper, derived within a general equilibrium framework, demonstrates that housing price can be explicitly expressed as a combination of an exponential and linear function of housing rental. This model provides an explanation as to why housing appreciation may not match inflation in the...

  • Recession Watch. FUNG, AMANDA // Crain's New York Business;11/17/2008, Vol. 24 Issue 46, p3 

    The article offers information about the reasons and effects of recession over the past years. The reason for the 1929-33 recession was the imploding financial markets that caused corporate failures. Peak inflation rates was -9.9% and unemployment at 25%. Soaring oil prices and inflation caused...

  • A market swamped by debt. MAIDENBERG, MICAH // Crain's Chicago Business;5/20/2013, Vol. 36 Issue 20, p0001 

    This article reports that the reluctance of homeowners on Northwest Side to sell their homes is dragging down the pace of Chicago, Illinoi's real estate recovery. Homeowners like Mr. Tregoning and his family revealed they would rather wait for home prices to rise than sell now and take a loss on...

  • Reviewing insurance is worth the bother.  // Mortgage Strategy;3/19/2012, p017 

    The author emphasizes the importance of reviewing price and cover when shopping for an insurance.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics