Hoping for House Price Crash- Take Note

Jimmy_31

MrRee wrote: »

I missed 2009 if that's what you mean .......

When I said two markets, I meant two extremes of markets ....

Thanks for clearing that up.

Bullfighter

MrRee wrote: »

More importantly ... it shows that buying - over the long term - is the best way to proceed.

The numbers don't really matter - the fact that the buyer is so much better off financially does matter ..... a lot!

Those who are 30+ and not buying in todays cheap market are bonkers IMO that's all .......

A lot of people have done well from property over the last 30 years... leading to a widespread condition of normalcy bias.

The assumption that is made in the case of the normalcy bias is that since a disaster never has occurred that it never will occur. It also results in the inability of people to cope with a disaster once it occurs.

People with a normalcy bias have difficulties reacting to something they have not experienced before.

People also tend to interpret warnings in the most optimistic way possible, seizing on any ambiguities to infer a less serious situation...

In this case, how the price of property in the UK is inevitably going to fall and fall hard.