70% club news

macaque_2

The mindset in the UK is that house prices always go up and the idea that they can fall by 70% have been treated by some on this forum with incredulity and derision. It happens:

House prices in Northern Ireland have fallen by as much as 70% from their peak, it was revealed

http://www.u.tv/News/House-prices-in-70-drop/ca78836d-761d-4c7d-b1ec-8cf01abf6677

Once the falls start, the process is very difficult to stop.

JonnyBravo

macaque wrote: »

Once the falls start, the process is very difficult to stop.

Really?
How do you explain the (small?) rise in house prices since the lows in 2008/9?

nollag2006

Hmmm... reminds me of the 50% down by Christmas 2009 prediction from brit1234

Oh - how we love to laugh at these loons

CRASH_BANG_WALLOP

JonnyBravo wrote: »

Really?
How do you explain the (small?) rise in house prices since the lows in 2008/9?

dude if you are talking about halifax or nationwide or LR the dogs on the street know london skews these figures so break them down region by region and its falls all the way

The_White_Horse

but this is in northern ireland - so who cares. London is where it is at pal. London. that is where I am, and that is all i care about. and let me tell you this - THERE AIN'T NO 70% FALLS. THERE ARE INCREASES.

macaque_2

nollag2006 wrote: »

Hmmm... reminds me of the 50% down by Christmas 2009 prediction from brit1234

Oh - how we love to laugh at these loons

What's more, this has happened during a period when there is evidence of a serious housing shortage in the region.

Housing shortage is at ‘crisis point’ http://www.belfasttelegraph.co.uk/community-telegraph/east- belfast/news/housing-shortage-is-at-lsquocrisis-pointrsquo-14917685.html

House prices on mainland UK have been protected by huge stealth subsidies. These subsidies are unsustainable and the markets will get their way in the end.