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The Chillout Room
House Prices Drop - 14.6% in the year
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<blockquote data-quote="Mr Radish" data-source="post: 739540" data-attributes="member: 7342"><p>I also was convinced there would be a big drop in prices, but not for the exact reasons we see one now. Any market that races upwards and upwards eventually becomes overvalued and vunerable to a change in the economic landscape. It does not take a genius.. . .</p><p></p><p>Despite my own situation, a drop was needed for the market as a whole to bring a realistic value to the market.</p><p></p><p>In many ways I hope that it bites some of the more greedy property "investors", as they bought up housing stock and helped fuel the dramatic rises that took the market away from the average home buyer.</p><p></p><p>However, in reality what will happen is that as the market hits it's low point a new wave of cash rich investors will re-invade the market to make a killing, just as they do on the stock market. Prices will then rise again and the status quo will probably be not far away.</p><p></p><p>Just a thought.</p></blockquote><p></p>
[QUOTE="Mr Radish, post: 739540, member: 7342"] I also was convinced there would be a big drop in prices, but not for the exact reasons we see one now. Any market that races upwards and upwards eventually becomes overvalued and vunerable to a change in the economic landscape. It does not take a genius.. . . Despite my own situation, a drop was needed for the market as a whole to bring a realistic value to the market. In many ways I hope that it bites some of the more greedy property "investors", as they bought up housing stock and helped fuel the dramatic rises that took the market away from the average home buyer. However, in reality what will happen is that as the market hits it's low point a new wave of cash rich investors will re-invade the market to make a killing, just as they do on the stock market. Prices will then rise again and the status quo will probably be not far away. Just a thought. [/QUOTE]
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House Prices Drop - 14.6% in the year
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