Doom & Gloom

dandy-candy

We bought our house in 1997 for £169,950 and last year our neighbour 4 doors up sold his (identical) house for £700,000 which I thought was a ridiculous amount - so although it is gutting and I feel really sorry for those who bought at the height of the market (my sister is one of them), any drops are actually putting house prices back to what they realistically should be.

ukcarper

Over 4x in 10 years my house has only increaes by 5x since 1985 and is probably not worth much more than 4x now

novazombie

Graham_Devon wrote: »

I've not seen anything about 80% drops, though I'm sure if every other post says it you will have no problem pointing me where?

I have personally predicted around 55% drops. I have also stated I see no reason why they couldnt go to 70%.

It's not doom mongering though. It's reality.

If the opposite of doom mongering is saying everything is alright while everything collapses around you though, I'd rather be called a doom monger.

Just to prove you wrong I have counted very roughly this thread alone has about 12 times had 80% quoted double that amount 70% or something mentioned.

If you have been reading this board for a while you would see that for a long time 50% drops have been talked about and my observation is that it has changed to 70 or 80%.

So my point stands.

Not long ago people were using 50% drops to say things like I cant see them falling by 50%, then the 70% club came along.

Now people are saying I cant see them falling by 80%, what happened to I cant see them falling by 50%!

Graham_Devon

novazombie wrote: »

Just to prove you wrong I have counted very roughly this thread alone has about 12 times had 80% quoted double that amount 70% or something mentioned.

It's had it mentioned simply because people were saying this doesnt happen.

You can hardly count people saying that as predicting it!!

Unless of course just saying 80% counts as a prediction, whatever sense it was said in. If so, yer, you win. Well done.

Pobby

Uncle_Rico wrote: »

Forgive me if I'm misunderstanding you but there is no way how prices can fall by 400%.

They can increase by such percentages, but never fall by such percentages.

Sorry I didn`t put it very well. What I was alluding to was how unsustainable that a property should rise by 400% and that it had to go down. By just how much I don`t know but have a little idea that 50% would be no surprise.

novazombie

Graham_Devon wrote: »

It's had it mentioned simply because people were saying this doesnt happen.

You can hardly count people saying that as predicting it!!

Unless of course just saying 80% counts as a prediction, whatever sense it was said in. If so, yer, you win. Well done.

Thats exactly my point which you so obviously didnt understand.

I said a while ago people were saying I cant see prices falling 50% but now they are saying I cant see them falling 80%.

Why the change?

The only thing I can think of is that House prices fell 80% in Japan when this happened there.

StevieJ

novazombie wrote: »

Thats exactly my point which you so obviously didnt understand.

I said a while ago people were saying I cant see prices falling 50% but now they are saying I cant see them falling 80%.

Why the change?

The only thing I can think of is that House prices fell 80% in Japan when this happened there.

I don't think they will drop by 100%, oh no have I raised the bar ? :eek:

Graham_Devon

StevieJ wrote: »

I don't think they will drop by 100%, oh no have I raised the bar ? :eek:

Nice prediction.