House prices down 21 percent

Two years ago, if anyone said that house prices would fall 21 percent, most people would have thought them mad. The UK was the home of ever appreciating property values. This was the land of no more boom and bust.

Well, the wildest of the most wild forecasts are coming true. Prices peaked in October 2007, and since then, it has been crash city. Over five years of house price appreciation has been wiped out.

There is more to come.