Respected Analyst : House prices 'could drop another 55%' and leave Britain bankrupt

1984ReturnsForReal_2

Graham_Devon wrote: »

I'm wagering 50-70% from peak.

The BOE has yet to put interest rates up, and boy are they gonna go up

Not much of an increase until after the election..

After all the BoE is independent??!!

Graham_Devon

1984ReturnsForReal wrote: »

Not much of an increase until after the election..

After all the BoE is independent??!!

It's only independant when it does something that effects our pockets!

It wasn't so independant on cutting rates, or QE. But it's always independant (and Gordon reminds us constantly) whenever rates go up!

ad9898_3

Graham_Devon wrote: »

I'm wagering 50-70% from peak.

The BOE has yet to put interest rates up, and boy are they gonna go up

I'm starting to revise my thoughts now, the economy is turning very nasty, this article is predicting a 20% undershoot, which considering the times we are in seems reasonable, 50% down now minimum, possibly 60%+.

Although on the surface I should be happy about this, the problem comes down to employment, no use being able to pick a nice detached house up for 65k (thats what they were selling for near me in 2001), if you don't have a job.

And don't forget we have the failure of QE to come, the pound is now tanking, most consumer goods are more expensive than they were 6 months ago, wages are falling, lots of companies on short time. And finally, anyone thinking that because they work in the public sector they are safe, forget it, after the next election there will be savage cuts to public spending, regardless of who wins.

jay3_2

ad9898 wrote: »

I'm starting to revise my thoughts now, the economy is turning very nasty, this article is predicting a 20% undershoot, which considering the times we are in seems reasonable, 50% down now minimum, possibly 60%+.

Although on the surface I should be happy about this, the problem comes down to employment, no use being able to pick a nice detached house up for 65k (thats what they were selling for near me in 2001), if you don't have a job.

And don't forget we have the failure of QE to come, the pound is now tanking, most consumer goods are more expensive than they were 6 months ago, wages are falling, lots of companies on short time. And finally, anyone thinking that because they work in the public sector they are safe, forget it, after the next election there will be savage cuts to public spending, regardless of who wins.

Still, look on the bright side, Sunday's forecast is for sunny intervals.

stevetodd

Graham_Devon wrote: »

I'm wagering 50-70% from peak.

The BOE has yet to put interest rates up, and boy are they gonna go up

Bearing in mind that you just said you are 'wagering on it' what odds are you giving that the everage fall does not reach 70% from peak? and on which indices?

ad9898_3

jay3 wrote: »

Still, look on the bright side, Sunday's forecast is for sunny intervals.

On a personal level I'm pretty happy at this time, still working 6 days, still hoarding cash, house prices crashing and I still have the ticket to emigrate if the sh*t hits my fan. My thoughts are on the economy as a whole, I'm just saying what I'm seeing, and as one of the resident doomers on here;), I'm not seeing any light at the end of the tunnel.

Kenny4315

Graham_Devon wrote: »

I'm wagering 50-70% from peak.

The BOE has yet to put interest rates up, and boy are they gonna go up

Nice to see your narrow band prediction, gives you bit of room for error 20%.

50% is simply not going to happen, and 70% there more chance of me going out tonight and bagging a threesome with Cheryl Cole and Dani Minogue, being the other two participants.

stevetodd

Kenny4315 wrote: »

Nice to see your narrow band prediction, gives you bit of room for error 20%.

50% is simply not going to happen, and 70% there more chance of me going out tonight and bagging a threesome with Cheryl Cole and Dani Minogue, being the other two participants.

Don't drink too much or you might wake up with Simon and Louis. I see what you mean, I don't think he would last long as spread betting odds compliler, not only is the spread far too wide its a mile away from where it should be

StevieJ

stevetodd wrote: »

Don't drink too much or you might wake up with Simon and Louis. I see what you mean, I don't think he would last long as spread betting odds compliler, not only is the spread far too wide its a mile away from where it should be

To the cleaners springs to mind

Graham_Devon

Kenny4315 wrote: »

Nice to see your narrow band prediction, gives you bit of room for error 20%.

50% is simply not going to happen, and 70% there more chance of me going out tonight and bagging a threesome with Cheryl Cole and Dani Minogue, being the other two participants.

What, you want me to put a precise percentage out there, so I basically get slaughtered on here?

Don't think so.

Why do you say 50% simply won't happen? Were already 2 fifths of the way there.