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From: Anonymous
I was wondering what sort of impact this will have on property, not today, but in 6-12 months time when the full effects of job losses and uncertainty hits the market?
I feel as if there is still a lot of strength in the market now, but also believe that there is a "false ceiling" holding prices high. Given that people are borrowing as much as they can, I am fearful that many will lose their houses. Any thoughts?
I also believe, contrary to what others think, that housing will inevitably come down 5-10% in 6-12 months time. The simple fact is that money cannot be made in todays market, even over a 5-10 year period and people will come to realise this when times get tough. It's been too good for too long and with all that is happening around us, I just don't see the confidence in people that I used to see.
People can trick themselves into staying positive, that's what Wall Street did yesterday, but still fell 8% in the first hour of trading. At the same time, we have to be realists, sad I know, but true.
What do others think?
Regards,
Anon.
I was wondering what sort of impact this will have on property, not today, but in 6-12 months time when the full effects of job losses and uncertainty hits the market?
I feel as if there is still a lot of strength in the market now, but also believe that there is a "false ceiling" holding prices high. Given that people are borrowing as much as they can, I am fearful that many will lose their houses. Any thoughts?
I also believe, contrary to what others think, that housing will inevitably come down 5-10% in 6-12 months time. The simple fact is that money cannot be made in todays market, even over a 5-10 year period and people will come to realise this when times get tough. It's been too good for too long and with all that is happening around us, I just don't see the confidence in people that I used to see.
People can trick themselves into staying positive, that's what Wall Street did yesterday, but still fell 8% in the first hour of trading. At the same time, we have to be realists, sad I know, but true.
What do others think?
Regards,
Anon.
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