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Realistbear

Ten Signs Of A Real Estate Apocalypse

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http://www.msnbc.msn.com/id/11944560/

Robert J. Shiller, an economist at Yale University and author of the book "Irrational Exuberance", which
predicted the 2001 stock market bust
and was recently updated to include real estate bubbles, notes that housing prices in the U.S. were on the decline in 1916. But a serious drop took place at the same time as the 1918 flu epidemic. "World War I and the flu were kind of coincided," he says. "It looks like that had a huge hit on housing prices — they were down 40 percent in real terms from 1912 to 1920."

Covers many likely scenarios coming up as well as the "wild cards" of which enough exist that one or more are likely to come to pass. What is noteworthy is the sheer number of these types of CRASH stories appearing in the mainline media such as MSNBC. Popping bubbles are becoming common news stories in the US whereas here I believe the VIs have kept the truth from leaking out--so far at least.

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Popping bubbles are becoming common news stories in the US

Quite.

I visited my neighbour yesterday. His daughter (English) was over from the USA with her American husband and their toddler.

My neighbour's house is presently on the market for about £850K in south Manchester. Now granted it hasn't sold, and is joining the ranks of huge detacheds that are also unsold round my neck of the woods. SO... I decided to keep a little quiet about the housey-thing to be sensitive, you see.

The conversation turned to the inevitable, and I mumbled something about not buying yet, trying to keep it all to myself.

Anyhow, you can only imagine my surprise when the daughter - a no messin' type of lass - comes straight out with "Oh, so the bubble hasn't burst here yet, then?", right in front of her father, who I assumed might be a little touchy about the house issue, or about "losing" money. He just laughed it off. Mind you, he has run his own business for 35 years, so isn't easily bullsh*tted.

How wrong can we be about people, chaps? You know, I think some of these home owners aren't really the ogres or numpties we're often painting them as on this site. I'm coming round to the idea that quite a few folks, irrespective of their positions, are seeing this situation for what it really is!

Edited by megaflop

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What an original idea for a thread. Might as well rename this iste to realistbear.co.uk...

You obviously can't stand anyone else starting threads can you RB? Did your parents not give you enough attention when you was a kid?

Is it any wonder that no one else can be bothered to post on this forum anymore?

MSNBC chose the name of the thread:

http://www.msnbc.msn.com/id/11944560/

Ten signs of a real estate apocalypse

War? Disaster? Nuclear ambitions? What could derail the housing market?

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How wrong can we be about people, chaps? You know, I think some of these home owners aren't really the ogres or numpties we're often painting them as on this site. I'm coming round to the idea that quite a few folks, irrespective of their positions, are seeing this situation for what it really is!

I went round looking at houses for sale some time ago. While outside one house, the owner came out. We had a nice little chat. He said that he sort of had an offer which would probably go through. I said that I thought that he had sold at the right time. Then he expressed his opinion on the current state of the market. It could be summed up in four words. **********!!!!!

Edit: This conversation was about a month ago and the house is still on the market. Is this a bad sign as actually I think he seemed a decent chap, and I did wish him well. How long can it take for an offer to solidify and result in the house being taken off rightmove as "sold stc" or similar?

Billy Shears

Edited by BillyShears

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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