House Prices
"Willem Buiter of the London School of Economics believes house prices will fall by about 30 per cent in the next two years with no major impact on the UK economy"
I think we'll find some house prices falling quite significantly, others keeping their value, or only dropping alittle. For instance - in Reading (Major commuter town for London) you can get a Victorian 2up, 2down, plus kitchen, bathroom, converted cellar, modest garden in a conservation area slap bang in the centre of town for about £180k give or take (which is probably too much, anyway, IMO). Compare this to a two bed ponce flat (sorry, executive apartment) with two boxlike "double" bedrooms, one or both with en suite, a separate bathroom and kitchen/diner/living room with a balcony that you might get a window box on at about £200-250k, in pretty much the same area as the previously mentioned house.
The developers of said ponce flats, seem to already have trouble getting them shifted, offering 'no stamp duty' or 'only £500 per month' offers whereas the houses in the conservation area are all selling pretty quickly at, or near, the asking price. Now which ones do you think are about to collapse in price by 30%?