Gordon's Gamble...

[Canada Bob]

Your figures on the Euro are also out. Currently - 1.101

Come on now Don, they do fluctuate by the hour, but let me tell you this, you can't get the 1.12 that I got just a few weeks ago, that ship has sailed...

4 Weeks ago - 1.084 - So price has risen 1.568% since then

3 Weeks ago - 1.113 - so price has dropped 1.078% since then

Can't agree with you, here's what it was exactly 1 month ago...

EUR Euro 1.1219848524 0.8912776298

Source of currency rate...

Here's the chart average from x-rates.com

February

1.12765 EUR (20 days average)

March

1.08771 EUR (22 days average)

April

1.0938 EUR (3 days average)

I don't know what site you are using, or even if you are quoting counter rate above, but when I flagged the rate on XE, the rate I got was 1.12, not 1.08, and don't forget that sterling has dropped approx 15% in the last 6 months or so...

Although the price is nowhere near what it was when the sterling was at it's strongest against the Euro, the current fluctuations would, IMO, appear to be within normal parameters....suggesting a steadying of the market. And if you look in more depth you can see that Sterling has increased in strength day on day for the last 10 days or so.

If you look a but further into it than that, {without taking into account the Obama effect} you'll see that both ships are sinking, against the US$. Sure enough Gordon's bucket brigade do a tiny bit better than the hands placed on the Euro pump, but I'll have a side bet with you as to where sterling is headed. Obama looks like he could walk on water, but he won't raise sterling from the dead...

Give it another couple of weeks and your 1.12 might not look all that hot.

Give me the odds then for this two horse race, I'll have a bet on the Euro vs sterling...

I think we'll have to revisit our comments, about house prices recovering, some chance, latest forecasts say another 15% down within 12 months. That sounds like a lot, but with the job situation getting bleaker I wouldn't bet against it.

Edited April 3, 2009 by Canada Bob

[Canada Bob]

Depends what paper ya read Bob..............

House prices rise

You could be right...

Here's what Halifax has to say...

Here's a cut from the Financial Times on the topic, I think their horse is the Favourite...

Nationwide, which re?ported a 0.9 per cent increase in prices in March, was quick to temper hopes of a rapid recovery in prices.

Knight Frank said higher numbers of sales were only being achieved in areas that had suffered the most severe slump in prices. Even then buyers were trying to negotiate substantial discounts on already lower asking prices.

Most forecasts point to a further 5-10 per cent drop by the end of this year before prices start to stabilise.