Originally Posted by Investy

The Directors of all these big companies were asleep at the wheel. Ordinary joes on forums such as housepricecrash predicted this credit crunch (they use that term) back in 2005, whilst property company directors said it couldn't happen.

Superior Worldwide have also gone.

Smart investors should be thinking about some property purchases soon, but no rush as this crash is still in its infancy.
With lending 50% down, it is certain we have a way to fall yet. Imagine a livestock auction with halve the cash to buy the same number of animals; prices would fall c50%. The same principle applies to property.

Lending will not recover for at least 12 months, possibly 3 years as there is no appetite to lend to anyone other than low risk clients with low loan to values. Do not make the mistake of thinking this will change soon, it wont.