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If you start doing that then that's all the proof you'll ever need that you are certifiably insane.

I actually overheard a HP related conversation in the gym today.

'She's put her house on for 485k'

'She'll not get that in this market. 425 if she's lucky'

Trouble is though, that when houses fall the economy tends to implode too. Which I could do without.

Yes we could do with a manged fall without the economic consequences to the rest of us eh. Oh well it's all ******ed anyways. Goldsmith was right, even here in Switzerland we have a whole damned floor full of Indians. They are gradually encroaching in anything remotely IT across the whole of Europe. There will be no jobs left in this sector.

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Reading the self congratulatory replies on this thread one would think that property had crashed by %50. Remind me.....how much are they off their all time peak? LOL!

We have been watching property in the West Midlands for about 4 years and find most of the comments on HPC way too conservative. Drops of 50% are not unusual. One place we watched just because it was so outrageous came on the market about two years ago at 80 dropped to 50 and is now at auction guided at 30. The market is actually all over the show so that some houses haven't changed their asking price in years (and haven't sold either) but others keep disappearing and then coming back lower. One place has supposedly been sold three times but we found it again with another agent. Down again. We have discovered that you can't believe a word you read from official sources. We work out our own statistics. We will be in the market around Christmas but anticipate that prices will still be falling and we may rent just to have a presence as we watch from a closer range.

I have to wonder why you think you can influence prices by denying their fall. It's a little crazy really. A lot does depend upon location and some areas are very slow to move much and always were but if you are mobile you can certainly find 50% drops from peak. I would advise more research and less grandstanding. You can't talk prices up (or down for that matter).

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I've so many friends who would find themselves in serious trouble if big falls happen that I've been playing down my expectations of an HPC during conversations. When asked about my plans to buy I say that they're not going up any time soon so we're going to wait and continue to save and leave the rest unsaid. This is now met with sage nods of agreement that this is the sensible thing to do, whereas just six weeks ago people would look at me like I was mad not to be buying.

I overheard the wife at a BBQ at the weekend telling a potential buyer to hold off. He was going on with the ol' "rent is dead money" argument. My wife pointed out that the interest component of a mortgage was also dead-money and that in her opinion prices were only going one way. I was so proud!

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I believe there will be 30% to 50% drops, the bulk of which will be nominal, from here. I don't know where the bottom will be, I suspect around 2012-2013.

When colleagues mention buying a house to me I just say I am still saving for a deposit (basically true in that you cannot have a big enough deposit imho) and a bit uncertain about my job at the moment (again true). I never voice my opinions to anyone thinking of buying, but then I don't have any friends buying at the minute. I doubt colleagues would accept any cautionary advice from me anyway so I don't bother with them. When I do buy I will just say I was lucky (without mentioning the whole having to wait donkey's years for affordable houses thing). Whilst there is a guy at work who can be irritating, he's just a colleague and luckily none of my friends are the showy, keep up with the Joneses type so I don't/won't feel the urge to rub it in.

Edited by Shylock
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Guest theboltonfury

I've so many friends who would find themselves in serious trouble if big falls happen that I've been playing down my expectations of an HPC during conversations. When asked about my plans to buy I say that they're not going up any time soon so we're going to wait and continue to save and leave the rest unsaid. This is now met with sage nods of agreement that this is the sensible thing to do, whereas just six weeks ago people would look at me like I was mad not to be buying.

I overheard the wife at a BBQ at the weekend telling a potential buyer to hold off. He was going on with the ol' "rent is dead money" argument. My wife pointed out that the interest component of a mortgage was also dead-money and that in her opinion prices were only going one way. I was so proud!

Please tell me that your wife works on the tills?

That would be going the extra mile in customer service.

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Well, I'm having the same conversation at the moment regarding pensions.

I can't emphasise strongly enough to my mates that ANY money invested in a pension pot should be viewed as dead money now.

same old responses, generic mutterings of "no chance, eventually you will always gain" :ph34r:

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I don't care if people think I'm a nut. I've made it my mission to tell everyone about what's coming, not just in terms of house prices but the depression and social upheaval that is happening in parallel.

We have, however, noticed a marked drop in the number of dinner party invites we get nowadays.

you should go on "come dine with me" that way you can maximise your audience, and get a dinner party invite

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Hey Mark,

Again your predictions are correct.

The property prices are taking a knock, seem soon that you predicted!

So where is a good place to buy in UK?

Speak soon soon.

He still has not totally got it though hence the question. But sweet moment for me after all the years I have had being slated. Bring on the crash part two, I am so happy and vindicated I am going to have a cigar.

Can we assume that both sender and receiver are (for want of a better phrase) ordinary members of the public.

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