Friday, Dec 22, 2006

BBC list predictions for next year

bbc website: Where are house prices heading in 2007?

The last bear has turned bull. No-one is predicting a fall.

Capital Economics predict a rise next year, but "To date they have been about as wide off the mark as is possible. They still believe that property is overvalued and will eventually fall in price."

Posted by sam @ 10:38 AM (503 views)
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1. sirgoogle said...

Sam

This is very reminisent of 1989/90 when the stagnation then was predicted (talked-up) to be "ride-out-able" and possibly become a rise again (sparking a short term recovery in the housing market). No one predicted a crash at all.

Also in 1998 - the market was bumbling along as it had done since bottoming out in 93/94 - nobody predicted the sharp rises sparked by lower interest rates.

There is a lot of truth in the saying about "when the last bear turns bull" and vice versa.

Friday, December 22, 2006 07:50PM Report Comment
 

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