Thursday, Jun 19, 2008
Commentators finally getting real
Telegraph: UK house prices forecasts get bleaker with prediction of 35pc drop
If they keep this up, HPC predictions will soon look positive.
Posted by captain sensible @ 09:31 PM (680 views) Add Comment
6 Comments
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1. japanese uncle said...
Rest assured, it will drop by 65% overall, and 75% in London.
2. crash bandicoot said...
"mortgage approvals for new house purchases are already below the troughs seen at the end of the early 1990s recession"
It really is not the same as last time after all then!
"We still await first signs of the Bank of England's Special Liquidity Scheme indirectly helping to ease the current logjam"
Don't hold your breath.
3. confused76 said...
Well done to Capital Economics for sticking to their guns!
4. str 2007 said...
Off 15, off 12 and of 10% doesn't even sound that dramatic really, more of a gentle correction.
This is about what I was predicting although I hadn't dared ventured past the end of next year with my predictions (guesses).
Perhaps I've spent too much time reading articles here, but I am beginning to wonder if a general meltdown that has been discussed won't cause bigger falls.
I can't get my head around JU's figures yet.
JU are you attaching a timescale to 65/75% falls ?
The reason I don't see it in London is the International nature of the market and the fact that £ has already weakened significantly with possible further falls to go. Meaning prices to International buyers are already about 20% down.
If they fall another 75% we'll be giving them away - almost !
5. Orwell said...
JU over stated and simply not possible I am afraid....
6. Noodlebike said...
Dont forget all the baby boomers retiring and drawing their pensions from the stock markets over the next few years. They really could fall by 75%, especially post peak oil. This will make the great depression look like the opening day of Harrods.