Originally Posted By howard
Even the issue of house prices isnt straight forward. many of the Soutwold people moaning about house prices wouldnt, if they were house owners, want them to fall and most wouldnt want large scale housing development which is the only way that house prices will fall.

House prices will fall if people stop buying. In our area second houses have become heavily taxed and there have also been many business closures and quite a lot of unemployment. Since the start of the economic crisis house prices have dropped by as much as 50%. A house that was valued at €900,000 five years ago is now struggling to find anyone to even look at it at €450,000. Perhaps there was a bit of a bubble before the crash but this is much more than a correction.

Peter

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