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Opinion is divided on the extent of the malaise in the housing market. Here we ask two property experts to debate the future direction of the property market. Stuart Law, of Assetz, a property investment company, argues that we are heading for a soft landing while Seema Shah, of Capital Economics, a research consultancy, says there's going to be a major crash.
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It's misleading to call Stuart Law an expert. He is just a guy with an opinion, although he does appear to live on another planet.
Adam, Paris, France
When house prices move, either up or down, history shows us that the these movements can take on a life of their own, as the confidence and perception of potential buyers is shaped by continuing on-going events. Any 'forcaster' has to take this into account because this is the heart of the market.
David Nammory, Liverpool,
A correction of even as high as 30% to 40% should not be considered a crash. It is merely a correction. After all the market has seen such an incredible price increases for so long.
Bruce, Los Angeles, USA
Stuart Law's positive view on the housing market amidst a record decline is simply unbelievable. It's as if he doesn't recognise there's been a fall at all. If he cannot be impartial he should simply not have a platform to air his views.
Stuart, Stockholm, Sweden
It will turn from bust to boom in no time at all ..... just like what happened in Japan?
Ben, Bath,
Property is so 'last week'
alan, Alderney, CI
We've lost nearly 13% in the last 12 months (a record) and the country is about to enter a recession. The talk is that prices will continue to fall until 2010. Theres no soft landing we've already crashed, even if prices fell by only 1%/month till 2010 that would = 30% fall
BW, London,
Stuart Law is the ultimate vested interest in property. There is never an bad news from him. Wake up! We have experienced a massive bubble which has burst. Prices will revert to median. We can not carry on thinking we can all become rich by selling houses to each other using debt.
david barker, eastbourne,
I have yet to hear a negative comment from Stuart Law - of Assetz - about the UK housing market. He knows that perception is everything and his personal wealth completely depends upon the obscene rise in house prices, so he will never talk it down.
He's all spin, spin, spin.
michael clarke, High Wycombe, UK