Two years ago, if anyone said that house prices would fall 21 percent, most people would have thought them mad. The UK was the home of ever appreciating property values. This was the land of no more boom and bust.Well, the wildest of the most wild forecasts are coming true. Prices peaked in October 2007, and since then, it has been crash city. Over five years of house price appreciation has been wiped out.
There is more to come.
Technically it's only 3 1/2 years "of house price appreciation" (2004-mid 2007), not 5 years, as they haven't been appreciating in the last 1 1/2 year.
ReplyDeleteI belong in a special level of hell devoted to pedants.
Anon 16:25
ReplyDeleteFair enough; you got me there. I do get carried away at times.
Alice
I'll buy when they hit 2001 levels!
ReplyDeleteYou won't look good when they go back to 1994 levels then.
ReplyDeleteThey've fallen far further in the worst affected US states.
ReplyDeleteWake me up when they get too 20%.
ReplyDelete