price drops #2

Zammo

MrSafeGaz wrote: »

I can't help but laugh when I read someone predicting a 50% drop in prices. How can they honestly expect anyone to take them seriously?

I would have laughed if someone had told me that property was going to rise by 300% ten years ago.

MrSafeGaz

Zammo wrote: »

I would have laughed if someone had told me that property was going to rise by 300% ten years ago.

True but its still a little bit naive for someone to get caught up in the mindset that prices are gonna drop 50% because if they don't then there is a fair chance that they won't take advantage of a smaller drop if it comes. Surely the more sensible approach is to err on the side of caution and then anything which happens above and beyond that is a bonus?

Zammo

MrSafeGaz wrote: »

Surely the more sensible approach is to err on the side of caution and then anything which happens above and beyond that is a bonus?

I completely agree. That's why I'd advise anyone to stay well clear of property for at least 2 years. It's at least 50% over valued.