What the author omitted to mention is that HPC is a group of concerned citizens who saw through the hype of HPI and warned about the inevitable catastrope only to be mocked and ridiculed for their foresight.
For sure we want to see lower property prices, but HPC isn't merely so named out of vested interest on our part. HousePriceCrash is so named because we saw that such an event was an inevitability unless property price increases were restrained. They weren't.
Instead of dealing with the HPI problem before it became too big to tackle the authorities acquiesced, intoxicated by the prospect of a few extra percent profits. (Remember Mervyn King's punch-bowl analogy?)
So now, for the umpteenth time in since late 2007, we stand on the brink of global financial oblivion.
FTSE closed today 4.67% down.
Edited by nmarks, 22 September 2011 - 05:25 PM.