Brief thought

[andrewducker]

I wonder if falling house prices are bad for the economy in a way I haven't heard mentioned - because they put people off from moving somewhere for a new job, because they can't sell their property without losing money.

Free-flowing workers are good for an economy, surely having the better-off ones stuck in one place must be bad for it.

Comments

[octopoid-horror.livejournal.com]

It's really funny when people claim they've "lost" money on their house, when they're not talking about anything relating to the price they paid, but meaning what it was worth at the top of the market, when they weren't selling or buying.

[andrewducker]

This is very true.

My main issue with prices dropping is that I will have less of a percentage to put down when I move, which means I'll get charged more. Also, if I've paid off £x,000 of my mortgage then it would be nice if that stayed paid off, rather than the percentage of my flat that I own going down.