
Late last year economist Steven Keen predicted house prices will drop 5 to 10 percent this year.
More recently he suggested that house prices will be 10% lower by the end of the year.
Is he right?
Well…2012 will be a tough year for property, and I’ve given my thoughts on this in some of my previous blogs, but I found an interesting post in Chris Joye’s great blog.
This is a must read before you pay too much attention to Prof. Keen
Chris Joye said: -

![chart-w-istock[1] chart-w-istock[1]](http://dev.propertyupdate.com.au/wp-content/uploads/2012/01/chart-w-istock1-110x110.jpg)



![question_marks[1] question_marks[1]](http://dev.propertyupdate.com.au/wp-content/uploads/2012/01/question_marks1-110x110.jpg)



