50% drops by 2011

Yoshua

dopester wrote: »

Of course it is deflation - but my understanding was Japan was a beautiful picture of financial health compared to how the UK is now... with trillions of yen in foreign reserves and a profitable advanced manufacturing base, with many companies leaders in new technologies.

We've partied it up with debt fuelled consumption, two ongoing wars, and house prices near trebling over 11 years.

You are spot on about the ongoing wars. US and UK spending unimaginable amounts on military. Japan must spend maybe 1% in comparison.

So with the other things you are saying do you mean that the UK will be worse than Japan experienced? It certainly sounds like thats what you are saying?

Anyway I started this thread about 50% drops in the UK, why is everyone keep on talking about Japan all over the internet?

But out of curiosity, how do I translate that Japanese text?

IveSeenTheLight

dopester wrote: »

Aberdeen and near enough everywhere else is going to crash back to 1992 prices.

dopester wrote: »

Thread bookmarked to comply with future notification of £72,447 reached (or thereabouts).

I enjoy your posts Mitchaa and ISTL, and the follow-on counter responses and discussion. We shall see who proves right.

Hmm, was searching for a different post, but this made me chuckle again.

How's the prediction going?

StevieJ

RDB wrote: »

Steve you often quote figures suggesting that prices cant drop this much because houses would be so cheap then.

The fａｃｔ　ｉｓ　ｉｎ　Ｊａｐａｎ　ｈｏｕｓｅ　ｐｒｉｃｅｓ　ｄｉｄ　ｄｒｏｐ　８０％，　ｐｒｉｃｅｓ　ｒｅａｌｌｙ　ｗｅｒｅ　８０％　ｃｈｅａｐｅｒ　ｂｕｔ　ｓｔｉｌｌ　ｉｔ　ｗａｓｎｔ　ｗｏｒｔｈ　ｂｕｙｉｎｇ　ｂｅｃａｕｓｅ　ｒｅｎｔｓ　ｄｒｏｐｐｅｄ　ｔｈｅ　ｓａｍｅ　ａｍｏｕｎｔ　ｏｒ　ｍｏｒｅ．

Ｉ　ｃａｎｔ　ｗａｉｔ　ｔｏ　ｑｕｏｔｅ　ｓｏｍｅ　ｏｆ　ｔｈｅ　ｔｈｉｎｇｓ　ｙｏｕ　ｓａｉｄ　ｏｎ　ｈｅｒｅ　ｉｎ　ａ　ｆｅｗ　ｙｅａｒｓ　ちめ　：）

Are we a few years yet?

Really2

As they say

"The old ones are always the best"

RenovationMan

Most of the bears on that thread seemed to have been banned (PPR). Are we to conclude that they became increasingly despondant as house prices fell then recovered somewhat and took their vexation out on the board, posting thread after thread of nonsense from Moneyweek et al and arguing with anyone and everyone who does not hold their skewed view points?

Groundhog day.

Graham_Devon

Nice to see you lot have found some solace amongst all the recent news.

wotsthat

graham_devon wrote: »

nice to see you lot have found some solace amongst all the recent news.

あなたは、手掛かりを持っていない

Really2

Graham_Devon wrote: »

Nice to see you lot have found some solace amongst all the recent news.

I think it fits in nice with the understanding of optimism and hope debated today.

Many people were pessimistic on prices as we have now found out. (falls expected to be more than actually happens = pessimism)

Even though they saw falling prices as a good thing it was hope, not optimism in what they wanted.;)

The_White_Horse

my opinion, based on no evidence at all, is that house prices will not crash. as long as interest rates remain very low and lending capped at 3x salary, they will remain static for many years.

at the moment, someone on 50k pa can't afford more that a 2 bedroom flat in some outer suburbs of london/home counties. that can't go on forever. wages will need to increase. they will eventually and prices will rise then a bit. however, in real terms they will have fallen, but not in actual price terms. a flat worth 200k today will be there or a bit higher in 2015.

however, if interest rates rocket, that is a different story as (a) people will not be able to afford their mortgage repayments straight away or once fixes end and (b) repayments will be unaffordable for new buyers so they won't borrow so much. they will stick at 3x salary max.

undetterred

Graham_Devon wrote: »

Nice to see you lot have found some solace amongst all the recent news.

Cheer up Gray,heres wishing 2012 is gloomier for you.