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It seems that the most nauseating (in my opinion) of the property columnists has been browsing these pages......
http://property.timesonline.co.uk/tol/life...icle3325824.ece
Anne Ashworth Of The Times Reads Hpc
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#2
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Posted 08 February 2008 - 08:43 AM
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Another surprise development of the slowdown of 2008 is the sudden improvement in the image of the buy-to-let investor, previously the villain, blamed from excluding first-time buyers from homeownership. A study from the National Housing and Planning Advice Unit (NHPAU) indicates that first-time buyers have been more disadvantaged by their own lack of purchasing power.
WTF? what is she saying here? that its not the fault of btl for pushing the prices out of reach of first timers, its the fault of ftbs because they can't afford it?
"Start each day with a smile and get it over with" W.C.Fields
#3
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Posted 08 February 2008 - 08:49 AM
QUOTE: There is, for example, very little similarity between the economic conditions today and the sorry situation that precipitated the housing crash of the early Nineties.
I agree with her.
Its so much worse this time around. We have far more sub-prime, much higher LTVs, far higher levels of consumer debt (as so many TV programs are reminding us these days), fraud is more woidespread with even the LR falling under the spell of greed as indicated by Panorama this week. If the stats are fraudulent how can anyone rely on them????Finally, this time it is far more widespread. In fact its almost Glow-ball.
Face it you VI journo's, HPI is a DISEASE and it needs to be eradicated before the infection destroys our nation.
This post has been edited by Realistbear: 08 February 2008 - 08:50 AM
CRIMBOCASTS for y/e 2013
1. The Euro will have another bad year and may hit parity with the US$ before the end of the year.
2. The Pound will not move much against the dollar (range 1.47-1.60) but is likely to regain a lot of ground verses the Euro which may not survive. US $ will be a safe bet, especially ST bonds and large caps.
3. Stocks should finish moderately higher than 2012 barring a war with Korea and Iran.
4. Gold will not be flying to the moon (again) and will bitterly disappoint (again) any who got in during the run up in 2011.
5. House prices: Flattish to up single digits overall..
6. Not much in the way of inflation again this year--those who forecast hyperinflation will be proven wrong (again--as in 2011 and 2012)
7. Could see a snap GE after the May elections which will be the worst result EVER for Dave. UKIP continue to make headway and will be number 3 before year end.
1. The Euro will have another bad year and may hit parity with the US$ before the end of the year.
2. The Pound will not move much against the dollar (range 1.47-1.60) but is likely to regain a lot of ground verses the Euro which may not survive. US $ will be a safe bet, especially ST bonds and large caps.
3. Stocks should finish moderately higher than 2012 barring a war with Korea and Iran.
4. Gold will not be flying to the moon (again) and will bitterly disappoint (again) any who got in during the run up in 2011.
5. House prices: Flattish to up single digits overall..
6. Not much in the way of inflation again this year--those who forecast hyperinflation will be proven wrong (again--as in 2011 and 2012)
7. Could see a snap GE after the May elections which will be the worst result EVER for Dave. UKIP continue to make headway and will be number 3 before year end.
#4
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Posted 08 February 2008 - 08:53 AM
Realistbear, on Feb 8 2008, 08:49 AM, said:
QUOTE: There is, for example, very little similarity between the economic conditions today and the sorry situation that precipitated the housing crash of the early Nineties.
I agree with her.
Its so much worse this time around. We have far more sub-prime, much higher LTVs, far higher levels of consumer debt (as so many TV programs are reminding us these days), fraud is more woidespread with even the LR falling under the spell of greed as indicated by Panorama this week. If the stats are fraudulent how can anyone rely on them????Finally, this time it is far more widespread. In fact its almost Glow-ball.
Face it you VI journo's, HPI is a DISEASE and it needs to be eradicated before the infection destroys our nation.
clearly there are two kinds of inflation: BAD inflation where prices go up, and GOOD inflation where prices go up (House Prices)
WARNING
Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it
Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it
#5
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Posted 08 February 2008 - 08:55 AM
The woman clearly doesn't know her ar*e from her elbow.
Only a delusional optimist could call a realist a doom monger.
Only a delusional optimist could call a realist a doom monger.
"There is no effective way to meaningfully reduce emissions without negatively impacting a large part of the economy"
Alan Greenspan 2007 Former Chairman of the Federal Reserve
"The gross national product includes air pollution and advertising for cigarettes and ambulances to clear our highways of carnage. It counts special locks for our doors and jails for the people who break them. GNP includes the destruction of the redwoods and the death of Lake Superior. It grows with the production of napalm, and missiles and nuclear warheads... It measures everything, in short, except that which makes life worthwhile"
Senator Robert Kennedy
Alan Greenspan 2007 Former Chairman of the Federal Reserve
"The gross national product includes air pollution and advertising for cigarettes and ambulances to clear our highways of carnage. It counts special locks for our doors and jails for the people who break them. GNP includes the destruction of the redwoods and the death of Lake Superior. It grows with the production of napalm, and missiles and nuclear warheads... It measures everything, in short, except that which makes life worthwhile"
Senator Robert Kennedy
#6
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Posted 08 February 2008 - 08:58 AM
quote "A study from the National Housing and Planning Advice Unit (NHPAU) indicates that first-time buyers have been more disadvantaged by their own lack of purchasing power". 
Who does the stupid b1tch think supports the market?
How does she think that high house prices are sustainable and will not compromise the economy in the longer term?
How the f*ck does she get paid to write such drivel and be taken seriously?
Who does the stupid b1tch think supports the market?
How does she think that high house prices are sustainable and will not compromise the economy in the longer term?
How the f*ck does she get paid to write such drivel and be taken seriously?
"A multitude of causes unknown to former times are now acting with a combined force to blunt the discriminating powers of the mind, and unfitting it for all voluntary exertion to reduce it to a state of almost savage torpor." Wordsworth.
#7
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Posted 08 February 2008 - 08:58 AM
Apparently, falling house prices produce "human misery", as opposed to hugely inflated house prices which presumably cause universal happiness.
I used to buy the Times regularly but Kaletsky and Ashworth, coupled with the declining quality of rugby coverage has dissuaded me.
I used to buy the Times regularly but Kaletsky and Ashworth, coupled with the declining quality of rugby coverage has dissuaded me.
"And thus the rule, supported by the experience of centuries; the speculative episode always ends, not with a whimper but with a bang."
J. K. Galbraith - A short history of financial euphoria
My blog from enemy territory
J. K. Galbraith - A short history of financial euphoria
My blog from enemy territory
#8
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Posted 08 February 2008 - 08:58 AM
W12, on Feb 8 2008, 08:25 AM, said:
It seems that the most nauseating (in my opinion) of the property columnists has been browsing these pages......
http://property.timesonline.co.uk/tol/life...icle3325824.ece
http://property.timesonline.co.uk/tol/life...icle3325824.ece
I dont think she likes us much
".....The motives of this online fraternity that longs for the human misery produced by a market collapse are a mystery. Perhaps they hope that if they spread sufficient gloom, their rantings will become a self-fulfilling prophecy? ""
Perhaps the Journo's/VI's and the Political Classes are getting a tad upset with the alt Web Community setting the agenda these days
#9
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Posted 08 February 2008 - 08:58 AM
She sounds a bit scared about house price falls.
I wonder if her daughter/son or someone close to her has just bought.
I wonder if her daughter/son or someone close to her has just bought.
#10
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Posted 08 February 2008 - 09:05 AM
mattyboy1973, on Feb 8 2008, 09:43 AM, said:
WTF? what is she saying here? that its not the fault of btl for pushing the prices out of reach of first timers, its the fault of ftbs because they can't afford it?
NHPAU - Government mouthpiece.
See Kate Barker and that "housing review" - LOL! What a total waste of space and spin.
Just think, there has been one member of the BOE looking deeply into the housing market all this time, nobody called time before Northern Shithouse happened, in fact they just encouraged lenders to go on a further binge in 2005 - after which Northern Shithouse (and others) really went for it and relaxed lending multiples further.
"Asians make things and sell them to Americans, who borrow money from their suppliers (on the inflated value of their houses) in order to continue living beyond their means. Asians take their profits and either relend them to Americans...or use them to buy more productive capacity, in America and elsewhere.
For those who wonder where this trend will lead, we offer a guess: The average American will be left with a shoeshine kit and instructions on how to say 'please' and 'thank you' in Chinese...."
Bill Bonner.
Socialists want socialism for everyone else, but capitalism for themselves, while capitalists want capitalism for everyone else, but socialism for themselves.
Link
For those who wonder where this trend will lead, we offer a guess: The average American will be left with a shoeshine kit and instructions on how to say 'please' and 'thank you' in Chinese...."
Bill Bonner.
Socialists want socialism for everyone else, but capitalism for themselves, while capitalists want capitalism for everyone else, but socialism for themselves.
Link
#11
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Posted 08 February 2008 - 09:06 AM
Don't worry. By the time this has played out, Anne Ashworth, along with Kirsty & Phil and Sarah Beeny, will be hiding from lynch mobs for a good few years.
#12 Guest_grumpy-old-man_*
Posted 08 February 2008 - 09:08 AM
The Last Bear, on Feb 8 2008, 08:58 AM, said:
She sounds a bit scared about house price falls.
I wonder if her daughter/son or someone close to her has just bought.
I wonder if her daughter/son or someone close to her has just bought.
that's what I am also thinking.
Did she not watch the tv prog that identified anomalies in the stats the other day.
All the VI's working together for a better priced house, better in the upward direction obviously.
Everyone has a btl portfolio now, even my doctor. When I asked my doctor what she thought about the current situation she said "property only ever goes up" I sh1t you not. A doctor ffs.
What chance has the ordinary couple in average street got who have a small btl portfolio if a delusional doctor can't see what's happening.
Just sit tight & see the outcome, because 2008 IS the year of the bears.
edited for crap grammar
This post has been edited by grumpy-old-man: 08 February 2008 - 09:20 AM
#13
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Posted 08 February 2008 - 09:09 AM
Sir Talbot Avenger, on Feb 8 2008, 09:06 AM, said:
Don't worry. By the time this has played out, Anne Ashworth, along with Kirsty & Phil and Sarah Beeny, will be hiding from lynch mobs for a good few years.
Just a thought but is someone making a list of all the people who write these articles and there email addresses because when this tidal wave does hit, It might be nice to send a mass email out to each one and ask them what they think now!...
#14
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Posted 08 February 2008 - 09:09 AM
Quote
Both surveys provoked vitriol from the vocal minority that has been wrongly forecasting a crash for the past few years and now denounces any research that might thwart their hope that their dream is about to come true.
Apart from the fact she has not made any predictions, only quote current press releases with no journalistic verve such as questioning, interviewing, researching. in any of her previous articles.
The misunderstanding is that at first the predictions in 2005 were that the market was overheating and should slow down, then 2006 worries about credit being extended too far jobs and economy weakening, 2007 was credit crunch, bad debt reposessions would rise. market should slow or reverse, credit going mad, economy tanking. 2008 is financial markets to fail, economy tanking, credit blown, houses to revert by 25% or more.
It's not that the bears have been wrong , as opposed to "no viewpoint" such as herself, just that as the situation got worse and worse we could see the end result getting worse. So misery is replaced with a growing concern as the market carried on growing on debt. I can predict the Times will fall in circulation by 2-3% as it did in 2007 and be the bottom of the tabloid formats.
This post has been edited by maxwell: 08 February 2008 - 09:10 AM
#15
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Posted 08 February 2008 - 09:15 AM
In the crash of 1990's, My house was going down like a stone, but every time the haliwide stuff came on, me and the missus wer STUNNED that they NEVER reflected the losses we were seeing.
We lived in a very desirable house, a dream house, it has never been empty since is was sold for 45% less than we bought it for.
I dont recall seeing 45% drop in ANY figures published by Haliwide.
It will be the same this time.
Oh, and they base their figures on ASKING PRICES.
We lived in a very desirable house, a dream house, it has never been empty since is was sold for 45% less than we bought it for.
I dont recall seeing 45% drop in ANY figures published by Haliwide.
It will be the same this time.
Oh, and they base their figures on ASKING PRICES.
WARNING
Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it
Your
country is at risk
if you
do not keep up repayments
on a gilt or other loan secured on it