Wednesday, November 21, 2012

House prices may by drop 50%.

Crispin Odey: David Cameron is not a leader, doesn’t understand power and doesn’t use it

“Property is ludicrously expensive,” he says. “House prices are right at the top of their cycle. I think they could crash. I’m not saying it’ll happen immediately, but I do think they can drop by half.” “House prices are not stable. They have a cycle like everything else. America has understood this much earlier than the UK. There, house prices have already fallen by 50 per cent and they are affordable. Originally posted on the HPC Forum, thanks to RentingForever.

Posted by will @ 11:13 AM (1660 views)
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3 thoughts on “House prices may by drop 50%.

  • “We have got to get the banks working again. That means the end of bashing the bankers. If there is no credit growth there is no economic growth. The last time we were in a depression was the 1930s, and what got us out was cheap money. We need a zero interest rate and a housing boom.”

    So, after a decade of cheap money, this ”expert” is calling for more? He is also calling for a another housing boom……but, the last one is still with us, is it not? This guy seems to be calling for a revival of it.

    People like this make me sick.

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  • 50% drop will do just fine,however the difference between us and uk is the government pay the mortgages for the landlords to house alledged single parents immigrants and anyone on low income with housing benefit.So basically the taxpayer is keeping house prices high for the government without being consulted.

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  • Surely what he’s saying is: house prices should drop by half, then people would lend against them again. I don’t think he’s advocating a boom from current levels.

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