From: Richard Faulkner 
Newsgroups: uk.finance
Subject: Re: Housing crash increasingly unlikely?
Date: Wed, 15 Jun 2005 00:41:40 +0100

In message , John Redman 
 writes
>
>"Doug Ramage"  wrote
>
>> Friend had a similar problem with a 1-bedder. When prices fell, most
>> people leapfrogged to 2-bedders.
>
>Yup. A year later an unsold 3-bedder in the same development finally sold.
>Original asking price in 1988 £130k; price achived in 1990, £84k.
>>
>> It took over 10 years for the negative equity to disappear, IIRC.
>
>By 1997 local agents were telling me they 'could see 95 for your place by
>now' (it was let out). So yeah, best part of 10 years before one could sell
>and recoup the costs of so doing.
>

And..... Up to 6 months ago, or so, it would probably have sold for 
around £190K, and maybe £150K/£170K now.

I remember Adam Faith once saying, "It's not a profit until you take 
it", (he may not have been the origin of the quote and, in the same way, 
"It's not a loss until you sell", so why dont we live in our homes and 
forget profit and loss until it really matters?

-- 
Richard Faulkner