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apom

Had To E-mail The Expert.

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http://www.telegraph.co.uk/property/main.j...22/ixpmain.html

Had to e-mail him.

Sir:

In response to your comments about the site www.housepricecrash.co.uk

It may not be balanced.

But I have to make one point.

Since biblical times there has never been a reported boom without a bust.

And for the economic cycle to exist it is necessary for the massive majority to be surprised by it doing every time exactly what it has done before. There is no more secret to it all then that.

For if house prices were to be this expensive, then they would have been this expensive always.

Don’t forget, the land registry figures show that house prices have acticly been dropping over 50% of the country since 2004.

At a speed greater then any but the most hopeful ever predicted on the above site.

For every boom a new bunch of investors repeat some new reasons why their market is different, at that point they learn some very old lessons. Think of your arguments that in your mind support this boom.. Imagine that for every boom market that has preceded this one there were bulls with their own arguments for their own markets.

Imagine if they had always been wrong.

If it’s a boom market and if people have invested in it to see speculative capital growth then it is a “greater fool” market.

Bulls are always eventually wrong and bears are always eventually right.

Look at a pound, a house has trebled in cost against the pound, does this make the house more expensive, or has the value of the pound dropped? A DVD player is now a lot cheaper... does this mean that the pound is much more valuable or the DVD player less...?

What you have to understand is that the economy has no emotional attachment to how much you pay for your house, only you do.

The economy has only its cycles.

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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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