Bruce M wrote:It is different every time. At least the exact trigger or collimation of events. The result is always the same.
With house prices, a national obsession, politicians & central bankers care because it can rip the heart out of the economy. So they yank the levers and introduce new policies to try to smooth the dip. At the moment it looks like they need to ease back a tiny bit... But it is a difficult trick.
Luxury asset prices tho, will not have any policy intervention.
I'm waiting for the daily mail stories about middle class icons buying a classic porsche with retirement funds to "see them right" then realising it needs £50k of bodywork, engine rebuild & refit (cue a few sobs about rip off "specialist") followed by the <gasp> horror that the value has stagnated and not increased by 15+% per annum.
Already out there. Several weekend broadsheets have run articles in Money sections about classic cars in pensions.
Here's one from end-2012
http://www.telegraph.co.uk/finance/pers ... tment.html