First time buyers

[beorhthelm]

I have spoken to ... property developers, and they reakoned house prices are in for a 40-50% fall this year!

they wish. and thats one reason why it wont go so low, because developers and speculators will come in, especailly with the low interest rates. one subtlety missed is that for prices to fall people have to sell, if you have big neg equity you cannot afford to sell so most will simply stay put.