Depressive Pricing

Yes.. it hurts to see neighbours moving out.
Especially when their asking price is 10% under the purchase price of my own house.
And all of the houses on that Street are cloned.
And since everyone else is looking at the house prices and saying, "Christ I'm not going to sell for less that I bought" I can only imagine that the logical progression is that even less houses come onto the market. That everyone digs in waiting for this slump to pass. And the the house prices continue to stagnate or even fall. Until the real value approaches that which all of the first time buyers in the market actually paid for there overpriced trumped up dolls house. So say in 10 years time maybe things will pick up a bit.
Arrghh!
All I can hope is that the champagne scoffing speculators and estate agents that got us into this mess get there houses repossessed, and that the sale of those houses sparks the whole industry back into life.

And more to the point, I want my house to be worth what I fucjing paid for it!