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Page added on September 29, 2008

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UK House Sellers In Denial About The Property Crisis – Energy Too?

If I am interpreting this article correctly, actual house prices have fallen by 12% since a year ago, but the asking prices have fallen only by 3.3%. In other words, the sellers don’t actually seem to be aware that there is a housing crisis on at the moment, and are still asking for pre-credit crunch prices. Surely this has got to be a major factor in why UK property sales are reaching record low levels? The sellers prices are too high, and it is blatantly obvious where the prices are headed, over the next 1-2 years. Most forecasts in the media currently forecast a drop from peak to trough of 25-35%, with one or two suggesting falls of as much as 50%.


What has all this got to do with energy?
I would guess that 95-99% of people I know do not know much, if anything at all, about peak oil, peak gas and peak coal. Worse, they do not care, yet. If we are to get through the down slopes of the peaks without anarchy and chaos, we have to collectively become very energy-aware. At the very least we need to have some inkling of what peak oil or gas or coal implies so that we can, for example, start voting for politicians, locally and nationally, who are willing to tackle the issues head on, politicians that actually show some leadership skills, changing our lifestyles and attitudes, and in general taking remedial if not emergency actions.


But the example above of house asking prices being out of sync with actual selling prices does not ogre well for our ability to act before the horse has bolted.


The Oil Drum: Europe



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