dougmilbourne Posted October 15, 2005 Share Posted October 15, 2005 http://realtytimes.com/rtapages/20051010_tsunami.htm Quote Link to comment Share on other sites More sharing options...
Starcrossed Posted October 15, 2005 Share Posted October 15, 2005 Thanks. A good primer on the subject. Quote Link to comment Share on other sites More sharing options...
Losing Faith Posted October 15, 2005 Share Posted October 15, 2005 is this the development community trying to use peak oil to help flog the multitude of crappy new build flats they've flooded the market with? Quote Link to comment Share on other sites More sharing options...
malco Posted October 15, 2005 Share Posted October 15, 2005 http://realtytimes.com/rtapages/20051010_tsunami.htm Precisely. That's why it could be seriously different this time. The scale of bad debt caused by a conventional property crash with Peak Oil piled on top of it could be pretty dramatic. We could be seeing institutional failures on a scale not known in the living memory of any but a very few very old people. That is a "lower downside" possibility that one really has to be aware of. I accept the TTRTR argument that "this time it's different" may be right and Peak Oil may not hit for another decade, or even more than that. If TTRTT is right, then I will not be buying a house for a very long time, but I'm saving about 10K a year now, and that will increase, so at least I'll be reasonably asset-rich, if still stuck in an el-cheapo flat in quite a pleasant part of Edinburgh. But between TTRTR and Peak Oil + Crash I suspect the outcome will be closer to the latter possibility than the former. Time will tell. Quote Link to comment Share on other sites More sharing options...
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