House prices back to 2008 levels

[uky kozak]

Can house prices be allowed to fall too far? What if, say, a million people in negative equity called in their chips. Wouldn't this bring the banks down?

Nope thats why you pay a mortgage indemnity fee even if you voluntarily hand in the keys or still owe the banks.

http://www.mortgagesorter.co.uk/home...insurance.html

[Doggy Styles]

Doggy Styles: "It's a blip. The economy has been inflated again by the newly-borrowed money, plus the printed money. When that runs out, house prices will go down again. That's quite apart from unemployment increasing."

DimPrawn: "That's not what Kirsty and Phil are saying."

People will believe anything, which is why the economy has been allowed to get into this mess in the first place.

Hardly anyone is saying what I said, but it is true.

[Iron Condor]

When you sell it, the money you get is worth less because the currency is worth less.

Average Uk house prices have varied between 100 and 700 ounces of gold over the last 35 years.

Back in the 1970s one could be snapped up for 100 ounces of gold.
In middle of this decade they cost almost 700 ounces of gold.

Today an average house can be bought for 260 ounces of gold. Which is 20% up on the start of this year.