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I dont think it will happen, I have owned several houses in this country, there has never been a property crash! by that I mean, the market may be slow ie: stagnent, but a ?250,000 house has never dropped to ?145,000 because the market crashed, it just doesn,t increase for a while and the ....Boom! of we go again, different in some European countries as they see a house as somewhere to live, not a pension investment, simple economics really, as long as there is a shortage of houses the market will be bouyant...America is currently going through a slump, but it,s different, they have more houses and less restrictions, as well as a hell of a lot more space. where as we are currently FULL!

I would think that as long as interest rates remain low then a crash is unlikely, and the only other thing that could bring about a slump in house prices is a prolonged recession and at the moment this also seems unlikely but who knows whats around the corner!confused!

You are wrong, I remember watching Panorama in the early 1990s and loads of people living in a modern housing estate down in the south of the country (Swindon I think it was) were in major problems where the property market crashed due to the economic incompetence of the Tory government with sky high interest rates and a lack of consumer confidence and job insecurity. Remember black Wednesday when we had to pull out of the ERM. Economic mismanagement coupled with a global recession or with terrorism on a large scale or things kicking of with Iran or North Korea could cause major problems.

Some owner occupiers were in negative equity where the property market had crashed and properties values for houses in parts of the country had fallen to a point where these poor people owed more on their mortgages than their houses were actually worth.

Fortunately the Tories were booted out and things recovered in the economy.

This Labour government is far from perfect but they have done a really good job running the economy. We need low interest rates, low unemployment and a Tory free government to get away from the old boom and bust policies of previous Tory administrations!!!

I meant the comments from Lizard were wrong in my opinion.

Hi If you are referring to London, don't think so , it should, but the demand is to high. Finchley ten years ago ,a one bed flat 60k and average salary for the south east 28k per annum. Today 200k for the flat and average salaried 41 k per annum.
Interest rates are low and since 2004 over 200,000 Eastern European have arrived in the South East , the majority working and creating a demand for rental accomodation.
Lizard there was a crash in the 90s over 150,000 (correct) homes were reposessed and the prices for homes that came on the market dropped by 30% , those who did not need to sell could sit it out , ytough for the others though

Yeah we have more space. In the city we still a lot of vacant lots to fill but the city (of Chicago) bought some of them dirt cheap and won't sell to minorities (blacks mainly) and even though there are programs for minorities to make it easier to afford a home the racist city of Chicago is trying it's best to make it hard while making it much, much easier for the mexicans to get loans or what have you to buy homes and they're doing it in droves. As far as urban sprall, well it's former farm land they're building on and farm land is dwindling here.

Thats different! if you bought a council house or to a very small extent a NEW house especially a small house on a large estate, in certain parts of the country, if you paid over the odds in the first place you could find yourself in negative equity, thats not the same as house prices crashing!
you have never seen a ?250,000 house half in value overnight, it may take longer to sell at certain times, say during a recession, but as long as you dont have negative equity, the value never goes down, always up.

Off course house prices fall there were hundreds of thousands of properties whose value fell in the early 1990s and NOT because they paid above the odds as you put it!!!

Thankfully those days are long ago.