The 70% club

ninky_2

70 percent fall in the price of houses? that's like saying that banks will go bust. it'll never happen!

Really2

ninky wrote: »

70 percent fall in the price of houses? that's like saying that banks will go bust. it'll never happen!

Is it?

I would of thought any business could go bust.

ad9898_3

mitchaa wrote: »

You got 17 thanks for that initial post..

ad9898 (13-11-2008), brit1234 (14-11-2008), bubblesmoney (15-11-2008), chief (15-11-2008), chrisandanne (13-11-2008), dopester (13-11-2008), fatpig (13-11-2008), geoffky (09-02-2009), mower5 (09-02-2009), neverdespairgirl (13-11-2008), penguine (15-11-2008), Pobby (09-02-2009), purch (13-11-2008), Sapphire (16-11-2008), staffsuk (13-11-2008), TD5 (14-11-2008), Wookster (09-02-2009)

Would the same people still agree with this 70% idea or have opinions changed since then

I'd say that I thanked him for posting the article, did/do I think 70% will happen, unlikely, would I like to see it ?, of course, anyone with cash in the bank waiting for the right time to buy would be silly not to want it to happen. Do I think it would be good for the economy, after the initial carnage, yes it would, the benefits to society in general would be bigger still.

Dithering_Dad

I wish we could get 70% drops, I'd get this dream house:

http://www.rightmove.co.uk/property-for-sale/property-17663777.html?locationIdentifier=REGION%5E78977&minPrice=700000&maxPrice=1000000&pageNumber=1&backToListURL=%2Fproperty-for-sale%2Ffind.html%3FlocationIdentifier%3DREGION%255E78977%26minPrice%3D700000%26maxPrice%3D1000000

That's up for sale near my village, for £259,500 instead of its peak price of £865,000. Brilliant!!!!

This time next year, we'll all be living in millionaire's houses, Rodney

ninky_2

Really2 wrote: »

Is it?

I would of thought any business could go bust.

given that several banks have recently gone bust i thought you might nave noticed the not too subtle sarcasm.:rolleyes:

Really2

ninky wrote: »

given that several banks have recently gone bust i thought you might nave noticed the not too subtle sarcasm.:rolleyes:

Yes I spoted it and said any business could go bust.;)
No one ever said a bank could not go bust

You were implying 70% falls are as likely as a business failure, which is wrong.

Kenny4315

macaque wrote: »

http://money.uk.msn.com/investing/articles/nicklouth/article.aspx?cp-documentid=10924988

A year ago I suggested that a house price correction in the region of 70% might be on the cards. People's reaction to this was ridicule and contempt. With each passing month however, more and more people have been joining the 70% club.

Whilst this is not particularly welcome for home owners, (and a catastrophy for heavily leveraged BTLs) it is good news for the country. High house prices have been socially divisive and damaged the long term stability of our economy.

What's going to win the 5 o'clock at kempton park, there are two runners, tell me the one you think will win, so I can get off to the bookies and put £100k on the other...... :rotfl:

Kenny4315

mitchaa wrote: »

You got 17 thanks for that initial post

Just added another thanks ... just for a laugh ..... :rotfl: :rotfl:

You've got to hand it to him it was a good gag.

Dithering_Dad

Kenny4315 wrote: »

Just added another thanks ... just for a laugh ..... :rotfl: :rotfl:

You've got to hand it to him it was a good gag.

I might start a 90% club, I quite fancy getting a £1m house for £100k. Luvvly jubbly!

In fact, why should I have to pay for one? I'll start a 110% club and get those damned millionaires to let me have their house for a £100k fee, the swines. :mad:

StevieJ

StevieJ wrote: »

Down 20% by April, 70% I will be in like a shot.

One of my better forecasts