House prices should fall more than 30%, says Blanchflower

[mlewis09]

Be wary of those who claim house prices are recovering, says David Blanchflower, professor of economics at Dartmouth College and a former member of the Bank of England's monetary policy committee.

Full article: House prices should fall more than 30%, says Blanchflower | Personal Investor | Citywire (external link)

 

[achod]

Yeah have a look at this extract from the BBC news website!

House prices are expected to fall by as much as 30% over the next few years, according to a report by an economic consultancy. Capital Economics said that houses were substantially overvalued and there would be a sharp "correction" which could trigger a recession in the UK. The report's author Sabina Kalyan said that she expected prices to fall by a fifth over the next four years.
But she said: "In the absolute worst-case scenario prices could fall by 30%.
"Our view is that we cannot have the nice, gentle slowdown in house prices that some are predicting because things have got too over-stretched."

//news.bbc.co.uk/1/hi/business/2577069.stm

Oh perhaps i should mention that was published in 2002.....

"experts" are always making predictions on this subject, maybe they want to get their names in the paper or something

 

[Rachelle]

I want to move house in three years so I really hope not. But something has to give I suppose.