Last week Mindful Money published an opinion piece critical of the online community House Price Crash. The response was immediate and vehement. We looked at the comments to make sense of the debate. Here’s what happened:
House Price Crash, a site which, in case you were unfamiliar, aims to:
"Act as a counterbalance to the huge amounts of positive spin the housing market receives in the mainstream media and provide anyone involved in the market with up to date data and commentary.
The response to "Inside the House Price Crash community " was almost immediate, with early commenters channeling their inner Malcolm Tucker at the one sided portrayal of ‘the mighty HPC' as one reader put it.
This was a typical comment:
"The writer of this poor excuse for journalism clearly misses the point. Deliberately so. HPCers don't want to "cash in" on bargains... they want affordable housing - one of the basic needs of human beings - for all." Chuffy
And while affordable housing was a recurring theme that ran through many of the comments, exception was taken to the critical stance of the schadenfreude that characterizes a large part of the HPC forum.
Here are a few observations from the offending article:
"Basically contributors appear to be frustrated would-be first-time buyers who resent renting and are hoping prices will "crash" so they can cash in."
"There's obvious delight in any loss of homeowners' equity"
...probably not worth making any comments on the article. All that can be said was said last week.