From: "Jo Reed" 
Newsgroups: uk.finance
Subject: Re: Bank lending policy
Date: Wed, 18 May 2005 11:50:57 GMT


"Tim"  wrote in message 
news:d6f9nu$b6s$1@nwrdmz02.dmz.ncs.ea.ibs-infra.bt.com...
>> > "M Holmes" wrote
>> >> Looking at previous cycles, the K-bottom
>> >> should be somewhere between 2009 and 2018.
>> >
>> "Tim" wrote
>> > Which previous cycle showed *four* crashes all within 20-30 years?
>> > [Akin to stockmarket 1987, houses 1990-,
>> > stockmarket 2000- & houses 20??- ... ]
>>
> "Jo Reed" wrote
>> according to the theory, these are all pin pricks compared to what's
> coming.
>
> Oh, OK.  So, if "what's coming" is a HUGE house price crash, then house
> prices must have some way to go (upwards) yet, before any HUGE crash could
> happen!!

why's that? Presumably because you can't imagine the average house price 
dropping to 15k?  This I suspect is a lack of imagination on your part!