Makes sense. Don't see that that is a bad thing though.
Well, if someone can pick up a house for 40/50/60% off peak, it'll be because lots of people have become unemployed, and/or interest rates rise and force them to sell. It means that HPCers buying at a heavy discount will indirectly be happy at the expense of others.
I mean I could have put a 'get out option' whereby HPCers could vote they'd be over the moon about their dirt cheap new home, but would feel weeelly, weeelly sorry for the poor family who used to live there who are now living in a filthy bedsit. However, that option invalidates itself, because if you're wishing house prices down so you can get yourself a lovely pad at an affordable price, it goes hand in hand with knowing that for prices to drop hugely they'll be widespread misery for many.
So either you're happy to see people suffer, so you may gain, or you're a noble human being who would willingly forego the opportunity of an affordable home so that others may prosper. Obviously the world doesn't work like that, as HPCers have no direct control over house prices and a collapse looks inevitable anyway, so they'll just be picking up the pieces to their advantage. But it seems most on here are happily cheering on a collapse in house prices while sneering at the soon to be homeless idiots who bought near the peak. The results of my poll pretty much prove it.
Edited by General Congreve, 20 July 2009 - 12:05 AM.