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Homes Will Cost £1m In 2017

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This sounds like madness, but if there is a crash on the horizon we can all snap up properties from the £1 store and cash in 10 years later.

This time in 10 years we will all be millionaires.

Homes will cost £1m in 2017

http://money.uk.msn.com/Planning/Life_Even...umentid=6213462

London stamp duty rises 807% in 10 years

http://www.thisismoney.co.uk/mortgages/sta...p;in_page_id=80

However maybe the crash has been and gone, prices crashed in August by 0.02%. Did anybody snap up a bargain?

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This sounds like madness, but if there is a crash on the horizon we can all snap up properties from the £1 store and cash in 10 years later.

This time in 10 years we will all be millionaires.

Homes will cost £1m in 2017

http://money.uk.msn.com/Planning/Life_Even...umentid=6213462

"That's the terrifying prediction from building society Stroud & Swindon. Based on house price growth for first-time buyers between 1997 and 2007, and applying the same rate of growth to the next 10 years, it forecasts that London could become the sole domain of millionaires in as little as 11 years (along with anyone looking to buy in the currently booming Northern Ireland market)."

Why didn't Stroud & Swindon produce a similar report during the last hpc. If they had done they would be predicting free houses for all by 2017.

Edited by margesimpson

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well if this is all cyclical, after the crash comes another boom and if the next boom is even bigger (like this compared to last) - its not totally crazy!

Make sure you buy those BTL properties at the bottom! Remember BTL is only evil if you arent the one making money from it!

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Dow Jones Will Hit 110,000 Some Time in 2012

September 26 2007: 10:04 AM EDT

NEW YORK (CNNMoney.com) -- A report has been produced based on today's rise of nearly 78 points.

"It is our estimation that if we carry on at this rate through to 2012, the Dow should top 110,000."

We did ask if this was likely to happen but the author just shrugged and said "I dunno, I just put a number into my spreadsheet look what happened so it must be true!"

Muppets.

Edited by House of Lords

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"That's the terrifying prediction from building society Stroud & Swindon. Based on house price growth for first-time buyers between 1997 and 2007, and applying the same rate of growth to the next 10 years, it forecasts that London could become the sole domain of millionaires in as little as 11 years (along with anyone looking to buy in the currently booming Northern Ireland market)."

Why didn't Stroud & Swindon produce a similar report during the last hpc. If they had done they would be predicting free houses for all by 2017.

Every shop will be a starbucks by then as well, and the Gillette G4 will have 7 million blades on it.

Oh and the earth will be 3 million degrees.

They probably did. A number of others did, but funnily enough it didn't say that.

IIRC, it took the top of the market in 89 and extrapolated upwards using previous growth trends and worked out that prices would go up 300% in the next 2 days in order to get back to where prices should be.

Mind you they weren't far wrong, look where we have got to now!

Edited by bobthe~

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well if this is all cyclical, after the crash comes another boom and if the next boom is even bigger (like this compared to last) - its not totally crazy!

Make sure you buy those BTL properties at the bottom! Remember BTL is only evil if you arent the one making money from it!

Tw@t!

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Guest Shedfish

making a small leap of faith, i.e. that the average FTB property in London and the average house in the UK are about the same price, i'm sure Stroud and Swindon will be vindicated by a little T/A

now let me see...

2017.jpg

post-5527-1190826583_thumb.jpg

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Guest Shedfish
Every shop will be a starbucks by then as well, and the Gillette G4 will have 7 million blades on it.

Oh and the earth will be 3 million degrees.

They probably did. A number of others did, but funnily enough it didn't say that.

IIRC, it took the top of the market in 89 and extrapolated upwards using previous growth trends and worked out that prices would go up 300% in the next 2 days in order to get back to where prices should be.

Mind you they weren't far wrong, look where we have got to now!

:lol:

there is a natural backstop for razors - the number of blades will stop increasing when the average bloke can no longer lift it.

debt is similar

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To be honest, I seriously doubted a crash *until* I read something similarly long term speculative. My thinking went:

* Many FTB candidates might have substantial savings.

* Inflation might well spill through into wages.

* The tax situation will make it more advantageous to own rather than rent for more people as tax is payable on savings interest for high earners - and everyone will soon be a high earner.

I thought it possible that these factors, in a low volatility scenario - carefully managed by government - with low interest rates... might offset the premium to own over rent... and keep prices high on moderately desirable property (i.e. on 3/4 bed detached OK area stuff).

Then I recognised that the predictions punted to the masses too dumb to think clearly had gone from optimistic to insane. I also remembered exactly the same thing happened just before the .com crash... The rational expectation was for a sharp fall in prices of tech stocks returning zero profit... but the optimist's expectations went from confidently bullish to be bullish to a deranged extent. People were predicting that AstaVista (which was admittedly cool for being the first serious search engine) would eclipse the giants of the FTSE100 such as BP and Vodafone! At this point, I realised, sentiment had changed... and the claims were probably part of a desperate ill-conceived exit strategy.

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Why do people keep insisting on putting out these lazy straight line forecasting figures. Anyone with an ounce of common sense knows they look ridiculous.

It's no use making rational arguments against them though. Sarcasm is definately the way to go.

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