Those who remember the Road Runner cartoon will know there was always a moment, just after Wile E. Coyote was tricked for the umpteenth time into running off the edge of a tall cliff, when he appeared to be momentarily suspended in mid-air before plummeting towards the ground.

Tim Bennett, Money Week – 29 May 08

Well, UK house prices have just had their Wile E. Coyote moment. They rose, they stalled, and now they are unquestionably in freefall. According to the Nationwide, prices fell 2.5% in May, significantly more than they did in April (0.9%) and the most since Nationwide’s records began back in 1991. The average house price in the UK, on Nationwide’s numbers, is now £173,583. That’s 4.4% – or £8000 – less than this time last year. Worse, prices have now been falling for seven months in a row, the longest stretch of its kind since 1992 – full article

See also: http://www.youtube.com/watch?v=W-jH_xcaZng