The Cult Website Www.housepricecrash.co.uk Where those who stayed out of the property boom go to gloat
Posted 27 November 2008 - 10:19 PM
I'd like to point out at this point that I was here when it was genuinely hip, when doom-mongers sat around effortlessly cool with frugal f-you nonchalance while consumer drones splashed their plastic on tat. I was here well before it was full of mainstreamers who've just learned about the HPC from the BBC news. When I came here it was a cobbled-together thing with a freebie bravenet forum.
I'm member 24 for gawd's sake.
Posted 27 November 2008 - 10:32 PM
Whereas being truly sick could be defined by appearing on a celebrity cook programme and shouting to the outside broadcast presenter, "what's the house like? what's the house like?" in a desperate attempt to remind the viewing public that your USP is being a so-called Property Expert (who didn't notice a rather significant correction creeping up on us).
This post has been edited by Paddles: 27 November 2008 - 10:33 PM
J. K. Galbraith - A short history of financial euphoria
My blog from enemy territory
Posted 27 November 2008 - 10:33 PM
Amazing how many 'clever' and enlightened people on here have called it and predicted the various HPC stages - the economic insight and opinion is equally impressive.
BTW I like to think this is a very broad church, I'm not a renter; thankfully I 'bought' (mortgage) many years ago, never even considering what the house might be worth, but 'knowing' that inflated house prices were insane and did not an economy make.
Whilst there maybe some gloating, I'm sure most of us don't wish ill on ordinary folk getting on with their lives but caught up in the mess, though we can make an exception for some.
Still, well done to all and for those able to influence the media and gain their respect.
Posted 27 November 2008 - 11:19 PM
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Posted 27 November 2008 - 11:51 PM
The only losers in this whole sorry state are the people who over-paid in the last 3 years and the people who saw their home as a bank borrowing money on its increase in value.
House price collapse WILL benefit all in the long term.
The other losers are the ones who were planning to sell their homes as their retirements... now turns out they had inaccurate expectations.
Posted 27 November 2008 - 11:55 PM
House prices: How low can they go? Telegraph
One who thinks so is Jonathan Davis, chartered financial planner with Armstrong Davis and spokesman for the cult website www.housepricecrash.co.uk, where those who stayed out of the property boom go to gloat. A few months ago, commentators on the housing market were lining up to pour scorn on his dire predictions. Kirstie Allsopp even called his website "sick". Now, Davis admits he has been wrong about the housing market Ė but only in as much as it is in a worse state than he had thought.
"In April 2007 I said I thought prices would fall by 25 per cent from peak to trough," he says. "By October 2007, I increased that to 35 per cent. Now, I think prices will fall by 40 to 50 per cent, and the market will not reach a bottom until 2011."
Fame, fame fatal fame. FP is the new Kirstie Allsopp.
I lurked on this website quite a lot in 2004 and I am glad I didn't STR then. Although it was obvious there would be a HPC it wasn't obvious then when it would be. Eventually STR in July this year at our Nov 2006 valuation. I am guessing that very few people timed here it exactly right...... and those that did are allowed to gloat!!!!!
Posted 28 November 2008 - 08:19 AM
Yes, it should say 'adult' instead of 'cult'.
In the sense that if you believe in the childish nonsense spouted by all the main political parties - that you can base an economy on debt - then you will not fit in here.
Posted 28 November 2008 - 08:51 AM
I'd like to point out at this point that I was here when it was genuinely hip, when doom-mongers sat around effortlessly cool with frugal f-you nonchalance while consumer drones splashed their plastic on tat. I was here well before it was full of mainstreamers who've just learned about the HPC from the BBC news.