Monday, Oct 08, 2007
Can't be true, surely?
Times: Get ready for two-year fall in house prices, say economists
House prices are set to fall by 6 per cent over the next two years, according to a report from Capital Economics, a leading consultancy.
Britain will follow the United States, Ireland, Spain and France by suffering from the end of the global housing boom, it said. Its report forecasts a gloomier scenario than was encountered during the slowdown of 2004 and 2005, when property inflation slowed from 20 per cent to 2 per cent.
Posted by david20040_0 @ 09:54 PM (1002 views) Add Comment
8 Comments
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1. david20040_0 said...
Capital Economics, the same Capital Economics which said in 2005 there would be a 20% crash. Then in 2006 admitted their calculations were flawed?
2. whiteknight said...
Yes. They underweighted on the following factors: stupidity, figure manipulation, rate of printing of money.
3. dohousescrashinthewoods said...
Slightly off topic, but just had a scan of www.lifeaftertheoilcrash.net and spotted the strap-line: "Deal With Reality or Reality Will Deal With You".
How apt for willingly-blind housing-bull sheeple.
4. paul said...
Do you think its true, David?
5. Davros said...
6% is a rather arbitrary figure.
Once it starts dropping, it's going to keep dropping. Investors arn't going to touch property once it's losing value and it'll be a long time before prices will be affordable to first time buyers again.
6. David Smith's Sub Prime. . . said...
Yes, David,
What do you think?
7. inbreda said...
No, David is right. If Capital Economics isn't to be trusted, we should all put our faith in the VIs. They wouldn't lie to us. Not with tie knots THAT big, surely?!?!
8. Icarus said...
But Fionnuala Fionnuala said house prices wouldn't fall because the fundamentals were sound.