stay in thailand guys the credit crunch is getting out of control with so many homes been taken back buy the banks
The Last Crash: 1989 - 1996
It took 7 years for the crash to bottom out wiping out 30% of the price of an average home in the uk. If anyone was convinced by the government to buy on the downslope they risked massive falls in the value of their homes and also negative equity or even repossession! You should never buy on a downward slope as you simply don't know when you are going to hit the bottom.
This Crash: 2008
We have JUST started our decline this time around, the tipping point was 2008. based on the last crash. I am confident that we are going in to a dip, I just don't know how long or deep this crash is going to be this time around.
You can at least agree that if you buy now, you are staring in to a chasm with no idea how far you are going to fall.