Tuesday, October 14, 2008
And then some!
"Dave Miles, Professor of Science at Imperial College London, said economic models suggested that if interest rates stayed the same and prices fell by a further 5% or 10%, meaning property would have lost around 20% of its value from its peak, then the housing market would stabilise." Yeah right ...there again they might fall by a further third, to hit HPC's overall consensus of a 42% peak-to-trough fall. Who are these people trying to kid?