Wednesday, October 7, 2009
Why are the bears being refuted?
"House prices look certain to defy all expert opinion by ending the year up after another surge ... The extraordinary recovery since the spring confounds almost every prediction made earlier in the year by economists and property experts. In a Reuters poll of 36 City analysts in March â€” around the time the market was touching bottom â€” the average prediction was a fall of 14 per cent this year, with 23 analysts saying it would be at least 12 months before the market stabilised." It appears that HPCers are not alone in being wrong footed by this market.