Credit crunch forecaster now suggests 50% falls in house prices

heathcote123

homelessskilledworker wrote: »

I have no idea if it will or won't, but like I said it is just now impossible for their not to be heavy property price falls.

Thats got me worried - do you think I should sell my house & move into rented for a while?

Dan:_4

macaque wrote: »

Membership is by invitation only but I have asked the membership secretary to keep an eye on your posts. If they look good, who knows, an envelope may be dropping on your door mat one day soon!

Thank you macaque.

geneer

heathcote123 wrote: »

Thats got me worried - do you think I should sell my house & move into rented for a while?

Don't you mean sell your half house and move into a fully rented house?

Pimperne1

geneer wrote: »

Don't you mean sell your half house and move into a fully rented house?

Then he'd be in the same situation as you (unless he owns another property too).

geneer

Pimperne1 wrote: »

Then he'd be in the same situation as you (unless he owns another property too).

Could be worse.
Instead of buying 1/2 a house in 2007, he could have bought two flats.

Pimperne1

geneer wrote: »

Could be worse.
Instead of buying 1/2 a house in 2007, he could have bought two flats.

You're right. On reflection I should just have kept the profit I made from the property I sold in 2007. Doh. Never mind, plenty more where that came from!

homelessskilledworker

heathcote123 wrote: »

Thats got me worried - do you think I should sell my house & move into rented for a while?

No?

Why would you want to do that.

Look Pal I have been around long enough to know that some people will get very upset and emotional if you dare say that the price of their home is it at risk of falling in value.
I am also aware that there are many posters on many internet sites who have made it their duty to counter any argument rightly or wrongly.

cepheus

Keen argues that it’s not changes in M0 [Base money, or M0, is money that the central bank creates] which drive unemployment, but unemployment which triggers changes in M0: governments issue more cash when the economy runs into trouble.....

The $1.3tn that Bernanke injected scarcely raised the amount of money in circulation: the 110% increase in M0 money led not to the 800 or 1000% increase in M1 money that Obama predicted, but a rise of just 20%(13). The bail-outs failed because M0 was not the cause of the crisis......

Keen says, the key to averting or curtailing a second Great Depression is to reduce the levels of private debt, through a unilateral write-off, or jubilee. The irresponsible loans the banks made should not be honoured. This will mean taking many banks into receivership(15). Otherwise private debt will sort itself out by traditional means: mass bankruptcy, which will generate an even greater crisis....

These are short-term measures. I would like to see them leading to a radical reappraisal of our economic aims and moves to develop a steady-state economy, of the kind proposed by Herman Daly and Tim Jackson

http://www.monbiot.com/2011/10/10/sounding-the-deeps/

Conrad

Prices will double in some parts in the next 7 years (Poplar for example) and are certainly on the way up next year. Millions of savers are turning to B2L, the economy is being rebalanced and the world economy is to rapidly expand on the back of nations developing and the bio - tech revolution now upon us.

Forget the scene today, take a peak around that bend.........

sheffield_lad

And how long have property price crash been predicting this crash? Well they started in 2003 and they also thought house prices had tp fall but you have another part of the jigsaw to add which is a severe shortage of 3/4 bed houses. With current population predictions we need a city the size of Birmingham to accommodate everybody and that's just to stand still. We are not building enough houses leading to a shortage in supply giving people waiting on the hope of a crash false hope.