The BBC is trailing interesting research from its new series of The Truth About Property that suggests that not only are more people "crash-proof" than in the early 1990s (it would take a house price drop of 56% to put the average borrower into negative equity), but that a house price crash would be far from entirely unwelcome, even among the property-owning class. People, apparently, are seeing a fall in values as an opportunity to trade up for less. The last series of this show was excellent, the Rat and Mouse has high hopes for series two, starting tonight, at 8pm, on BBC 2.
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Just watched the end of that programme and can't believe the example that the female presenter gave to the lady who invested �20k into a property. She scared her witless. To say that a �200k property will only be worth c�600k in 30 years is a total joke! Who knows what it will be worth? Based on historical increases it could well be worth a small fortune. I think it's totally irresponsible to scare people off like that. I still believe property will go up in value over time but I don't use scare tactics like that. As a result of that program thousands of people will be put off buying property and possibly even look to sell their properties. Sorry if my numbers are not quite accurate but I only caught the end of the programme and I couldn't hear it properly due to noisy guests etc - but I'll try and watch a copy of it to find out exact numbers.
In the meantime check out some numbers yourself to see what I mean. Sorry to complain but I'm fuming about it!
David Hamer www.profitable-investment-property.co.uk
