First Evan Davies, now Pauline McColl.
What the devil's got into them?
Here's Pauline, retailing the Perils of Property Investment, and trying to wedge open the clam that is the mind of a radio presenter, on Richard Bacon's Morning show, Radio Five, Mon. 14th. May., during a general chinwag about (wooooo!) pensions which started 01:06 hours into the prog.
This bit is at about 01:15 in, if I've stuffed up the linky thingy, or it dies of old age (next Monday).
QUOTE
Pauline McColl: .....a leading economist has been specifically warning against this idea that bricks and mortar as a guaranteed....there's nothing guaranteed....
Richard Bacon: That's the other.....no, no it is guaranteed. House prices in the long term will ALWAYS go up, and over a ten year span, on average, they double. They will ALWAYS, categorically, go up over the long term.
Pauline McColl: Except, as I say, for this doomsday scenario, where you have a huge tranche of properties in the country, all coming on the market at the same time....
RB: It's not going to happen though, is it?
PMcC: Well it's been predicted it will.....
RB:Well for, wha, fa, whu,( starts to gabble incomprehensibly) who, which age group, who're you talking about..?
PMcC: Your age group.
RB: For MY age group?
PMcC: Yeah. People who've decided to invest in property, rather than in pensions, or in other long-term savings....
RB: But...that...the reason that doesn't make sense....
PMcC: I'm not saying it WILL...
RB: No but. Th...(gabble).. I'm not sure that makes sense, Pauline, I'm thirty-one, Who knows at what age I would seek to draw a pension by selling a house, you're saying that everyone who's thirty-one, will at the same point as me, decide to sell their houses to realise their pensions, thus causing a decline in the property market..?
PMcC: No, not at (sic) the same month, but in the same ten-year span. That's a prediction, a doomsday prediction..
Richard Bacon: That's the other.....no, no it is guaranteed. House prices in the long term will ALWAYS go up, and over a ten year span, on average, they double. They will ALWAYS, categorically, go up over the long term.
Pauline McColl: Except, as I say, for this doomsday scenario, where you have a huge tranche of properties in the country, all coming on the market at the same time....
RB: It's not going to happen though, is it?
PMcC: Well it's been predicted it will.....
RB:Well for, wha, fa, whu,( starts to gabble incomprehensibly) who, which age group, who're you talking about..?
PMcC: Your age group.
RB: For MY age group?
PMcC: Yeah. People who've decided to invest in property, rather than in pensions, or in other long-term savings....
RB: But...that...the reason that doesn't make sense....
PMcC: I'm not saying it WILL...
RB: No but. Th...(gabble).. I'm not sure that makes sense, Pauline, I'm thirty-one, Who knows at what age I would seek to draw a pension by selling a house, you're saying that everyone who's thirty-one, will at the same point as me, decide to sell their houses to realise their pensions, thus causing a decline in the property market..?
PMcC: No, not at (sic) the same month, but in the same ten-year span. That's a prediction, a doomsday prediction..
Seems some of the VI's at the Beeb may have the odd "property" (they're houses, ffs. Potential homes) salted away, and are a teeny bit in denial. Possibly victims of poor advice?
[edit: extra fact insert]
