Dan - you've got a view on local house prices that you clearly believe in. I think you are talking nonsense and that your simplistic analysis based on debt as a driver of prices is fatally one-sided and ignores the major factor of supply and demand. Even in a market such as the USA, where supply in most areas wildly exceeds demand, house prices have only fallen by 30 per cent from their peak in 2006. Demand simply hasn't disappeared from the London house market, as the rush to get 90% mortgages when they appear, shows.

But hey - why not back up your view by wagering ?100?

If, by 31 December 2010, property prices in SE23 have fallen by 50% from the Winter 2007 peak I will pay you ?100; if you are wrong you pay me ?100. I am sure that we can ask Admin to act as referee on this issue.

What say you? If you are as clearly confident of your views as you claim,this should be easy money.