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Capital Economics: House Prices ‘could Slump 10%’ In 2008

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Capital Economics: house prices ‘could slump 10%’ in 2008

Posted by Richard Lander 11:18 Monday 08 October 2007

The Times has consulted its property gurus again to update their price forecasts post credit-crunch.

As we mentioned, the Capital Economics consultancy is the only true player without self interest whose views are sought (http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article2587795.ece) :

'We forecast 0% growth in 2008 well before the credit crunch. So, any growth will be offset by falls elsewhere. Once you’re at zero and things turn negative, then you start getting house-price falls.

“The housing market just can’t keep on rising. Price growth has slowed, if not stopped, in the Midlands and Wales already. Crash is too emotive a word, but it could slump by 10%.'

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Capital Economics: house prices ‘could slump 10%’ in 2008

Posted by Richard Lander 11:18 Monday 08 October 2007

The Times has consulted its property gurus again to update their price forecasts post credit-crunch.

As we mentioned, the Capital Economics consultancy is the only true player without self interest whose views are sought (http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article2587795.ece) :

'We forecast 0% growth in 2008 well before the credit crunch. So, any growth will be offset by falls elsewhere. Once you’re at zero and things turn negative, then you start getting house-price falls.

“The housing market just can’t keep on rising. Price growth has slowed, if not stopped, in the Midlands and Wales already. Crash is too emotive a word, but it could slump by 10%.'

CE. Aren't they the people that predicted a big drop for 2005, an even bigger one for 2006 and bottled it with 'no overall change' (or thereabouts) for 2007.

Impeccable track record. :lol:

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CE. Aren't they the people that predicted a big drop for 2005, an even bigger one for 2006 and bottled it with 'no overall change' (or thereabouts) for 2007.

Impeccable track record. :lol:

No, you're thinking of Foxtons :D

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Capital Economics: house prices ‘could slump 10%’ in 2008

Posted by Richard Lander 11:18 Monday 08 October 2007

The Times has consulted its property gurus again to update their price forecasts post credit-crunch.

As we mentioned, the Capital Economics consultancy is the only true player without self interest whose views are sought (http://property.timesonline.co.uk/tol/life_and_style/property/buying_and_selling/article2587795.ece) :

'We forecast 0% growth in 2008 well before the credit crunch. So, any growth will be offset by falls elsewhere. Once you’re at zero and things turn negative, then you start getting house-price falls.

“The housing market just can’t keep on rising. Price growth has slowed, if not stopped, in the Midlands and Wales already. Crash is too emotive a word, but it could slump by 10%.'

"Once you’re at zero and things turn negative, then you start getting house-price falls"

Really? Well, shaft me with a catus! :blink:

Clearly these guys are economical geniuses?!

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