house prices to fall by 76.4pc

[rootsnall]

Well they did in Japan. Perhaps our bubble isn't quite as bad so lets say 50% !?

http://www.independent.ie/opinion/co...o-1425159.html

[Platypus]

house prices to fall by 76.4pc

Smarty arsed comment removed thanks to Nick pointing out this is about IRISH housing prices (blush)

[Cyberman]

Well they did in Japan. Perhaps our bubble isn't quite as bad so lets say 50% !?

http://www.independent.ie/opinion/co...o-1425159.html

Japan is a totally different scenario. We have had massive immigration over the past few years so demand for housing in the UK is immense and rising, while Japan have had negative immigration, so their housing demand has fallen and will continue to fall.

Japan also had a house-building boom in suburbs(government policy of 'suburbanisation') that has moved population from the inner cities to the suburbs. This will also have served to reduce house prices in the cities. Where was the UK's house-building boom????

Supply and demand will always play a major part because people always need somewhere to live, and so there will never be the drops in th UK that Japan experienced. The article sums up why I will never read The Independent!!!

[NickFitz]

Japan is a totally different scenario. We have had massive immigration over the past few years so demand for housing in the UK is immense and rising, while Japan have had negative immigration, so their housing demand has fallen and will continue to fall.

You did notice that the article was comparing Japan and the Republic of Ireland, didn't you? Its only mention of the UK market was in relation to losses likely to be suffered by Irish investors in UK property development, and the consequent effect on Irish levels of indebtedness.

[expat]

Japan is a totally different scenario. ...
Japan also had a house-building boom in suburbs(government policy of 'suburbanisation') that has moved population from the inner cities to the suburbs. This will also have served to reduce house prices in the cities. Where was the UK's house-building boom????

Supply and demand will always play a major part because people always need somewhere to live, and so there will never be the drops in th UK that Japan experienced.

Until the government allows building over the green belts. Then you will really see a house price slump.

[Cyberman]

You did notice that the article was comparing Japan and the Republic of Ireland, didn't you? Its only mention of the UK market was in relation to losses likely to be suffered by Irish investors in UK property development, and the consequent effect on Irish levels of indebtedness.

I believe that they should be worrying more about their own housing market than ours. Ours will weather the storm and will be rising again once the current bunch of incompetents are out of power and HIPS have been abolished, alongside reductions in stamp duty.

Bring on the Tories !!!!

[Bagpuss]

But the Tories don't want the boom to continue. On Newsnight, Lawson was only the other day advocating a rise in interest rates to control the housing market and inflation, IMHO a wise move. Booms are not good for the long term stability of the economy

[NickFitz]

I believe that they should be worrying more about their own housing market than ours.

...which is why the article is about their market, not ours.

The ".ie" in the domain name and the logo at the top of the page are clues that this is the Irish Independent, talking about Ireland.

[Lucy]

But the Tories don't want the boom to continue. On Newsnight, Lawson was only the other day advocating a rise in interest rates to control the housing market and inflation, IMHO a wise move. Booms are not good for the long term stability of the economy

Lawson, as in Nigel?

[Bagpuss]

Lawson, as in Nigel?

It wasn't Nigela