£1 trillion decrease in property prices

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Every time I read up on property prices it just gets worse. The average house has decreased in value by over £35,000 in the last 12 months and around £2,500 in the last month, but what is amazing is the grand scale of the property crash, loosing around £1 trillion in total!

£1 trillion decrease in property prices

Let’s not get too worked up about the £40 billion loss by RBS – those foolish bankers that went into a bidding war to buy ABN Amro at peak.
If the Nationwide figures are any reflection of the true value of houses in the UK then we have just witness about £1 trillion wiped off the value of the nation’s housing stock in the same time it has taken for the full lunacy of the ABN Amro deal to be realised.