Martin Armstrong: A Forecast For Real Estate
If Mr Armstrong is right (and yes, he invariably is), you should not buy a house any time soon, unless you are not buying it as an investment or a store of value as people have in the recent past, but purely as somewhere you want to live in for a long time. Similarly, if you are considering selling your home because you are realising perhaps that you are having, or might soon have, trouble keeping up with the mortgage payments, this article might help you make up your mind whether to do that or not.
Please note, the graph and overall forecast in this report are discussing the real value of property over the coming years, but in today's fiat currency world the nominal price is not likely to drop as far, or possibly even at all — hell, maybe if they really get busy with the printing presses the numbers might even go up, who can say? The upshot of all this is that you may or may not lose on property in nominal terms over the coming years, but in real terms you almost certainly will. "Other stuff" will go up in nominal value (or perhaps not go down as much) more than property will.
Thursday, 26 November 2009
Long term property price forecast
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