by Boo_Randy
These “experts” get their paychecks from the real estate industry – an industry of dissemblers whose motto is “Always Be Closing.” In 2006-2007 these same “experts” denied the existence of a housing bubble, then said the crash was a “gully” – now they’re recycling the same lies they told back then. Housing could crash far more than 7%, because inflation is out of control and the underlying economy is in free-fall. Rule #1 when listening “experts” on your TeeVee screen: they’re all liars out to influence, not inform.
House prices are heading for a sharp downturn as mortgage rates soar and the cost of living spirals, say experts.
Amid concerns that ‘a day of reckoning’ looms, analysts predicted falls of 7 per cent over the next two years, with London and the South East hit even harder.
The property market has boomed since the pandemic, with prices reaching record highs. But signs of a slowdown are already emerging and forecasts for 2023 and 2024 are increasingly gloomy.