Friday, July 13, 2007

20% chance this site will be right in 2 years

"20 percent" chance of house price crash

Bank of America reckons house prices are 20 percent overvalued and there are now signs that the market is peaking. "Leading indicators and our own econometric work point to a significant slowdown in the UK housing market later on this year and into next," said Matthew Sharratt, an economist at the investment bank. "We put the probability of a crash sometime during 2008/09 at around 20 percent." The bank's central view is that house price inflation will remain very subdued until 2010

Posted by confused76 @ 03:56 PM (488 views)
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5 thoughts on “20% chance this site will be right in 2 years

  • This site will be right… eventually!!!

    Just a question of when.

    Another thing: the US had a ‘correction’ when their house prices had doubled. And its triped here…..

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  • dohousescrashinthewoods says:

    And the US is still “correcting” a year later..?

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  • And:

    ‘1 million borrowers will join the 761,343 already facing foreclosure proceedings this year.’ in the USA according to Realtytrac.

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  • Considering their population dobber, and the US strength in other industries, the problem is minimal.
    We on the other hand have nothing to fall back on.

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  • 20%? I thought the consensus was between 2 and 5% this time last year. Why aren’t those hucksters being rounded up?

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