| ??? 03/24/06 23:00 Read: times |
#113028 - Housing Fugures Responding to: ???'s previous message |
Richard Erlacher said:
If you wait a couple of years, that may change, though. CA is at the zenith of a "housing bubble" which is projected to burst soon, and the "real" doomsayers, of which I'm one, are predicting 60% losses in the high-end of the market and maybe as much as 12% at the low end. Interesting. The UK housing bubble popped about a year ago but had a rather soft landing. Prices stopped rising but did not fall. They have now started rising again. Another factor is how far you're willing to drive. Those same doomsayers, and they've been right so far in this respect, are saying the current $2.50 per gallon prices will inflate to between $15 and $25 within the next 5-10 years. The UK price is £4 a gallon. even allowing for 6pts in a US gallon and 8 in a UK one, that's still equivalent to more than $5 a gallon already. We have a minor energy crisis here right now. North sea oil and gas is running out and gas and electricity prices have just risen by over 20%. I estimate Uk electricity is about 20 cents a KWHr at present. I mentioned square footage in another post. A true SF of 1200 is a lot in the UK and would be more than enough for us. One question. I notice in real estate listings that some houses are listed as 'manufactured'. What does this mean? Ian |
