75% of equity into IVA in the FIRST six months

[size5]

Well said Sir!!!

The Size residence is staying put also.

[MelanieGiles]

I agree with both of you (am a typical Libran!) but I can honestly say that in 23 years of being in this business, I don't feel that there has been a more deflated housing market or inaccessibility and nervousness about mortgages. Or maybe I just remember the good times!

[size5]

The good thing is that interest rates are low and are likely, if the experts are to be believed, to fall again before any more rises. So the price crash of the early 90's which was coupled with sky high interest rates, is unlikely to materialise again.

Fingers crossed anyway, I certainly think there is much more pain to come before we turn the corner.

[ianmillington]

Of course at the start of the 90s there was the triple whammy of house price crash, sky high interest rates and record corporate failures as well.

It may be Michael is right in that there might be a re-alignment rather than a major shift. Let's see. Frankly it's down to the Banks and confidence - not much we mere mortals can do about that.

[Emily]

Arguably we are in the most interesting time in the world of fiscal Economics. The most wealthy successful investors(Sorros,Buffet); Economist,academic laureates,regulators have lend their weight in trying to predict the next up or down turn. But the global Market forces are too complicated to be pinned down.

No one predicted Bear Sterns demise....a flash flood event and no one predicted Gold price on the up and leveraged Hedge funds crashing out.

If we could predict accurately there will be more risky leverage bets on the market wrecking more funds. Derivatice investors are still operating in stealth and looking for a killing even at these times...respect them or loath them.They didn't half caused the problem!

Will the the UK fiscal market follows the US? if so then the Housing market will depress - their governments both rely two much on the fanancial markets to do no wrong and generate taxes and other revenue. The government is at their mercy and so are we.

Regulators in the UK or US either don't have the bottle or doesn't understand how the biggest and the baddest of the traders work to tame them. Just remember Black Wenesday??