"the UK now has the Longest fall, the Sharpest fall and the Deepest fall in house prices recorded"
This is symptomatic of the rubbish peddled as 'facts', I wouldn't mind except it is said with such confidence. Let's check this out by looking at the oft quoted
Nationwide figures. Figures show to the end of 2008.
Longest fall? No. Raw prices fell from the third quarter of 1989 to the second quarter of 1993, three and a half years, and then stayed level-ish for a couple of years. The equivalent figures for this crash show a fall for only a year and a quarter.
Sharpest fall? Possibly, just. There's a 15% drop in 5 quarters to the end of 08. The first 5 quarters of the 1989 crash show a 13% drop. Not a big difference, though.
Deepest fall? No, the 1989 crash shows a 20% drop from peak to trough.
As a moderator, at least get your facts right before you put your 'Mad Max' hat on.