Friday, Apr 20, 2007
Everybody talks about crash...
Guardian: Boom to gloom?
Interview with the Guardian Money editor... this guy has very bullish views, what struck me is his casual attitude... "yeah, but what is a crash... people has so much equity in their homes... prices fall by 50%?... who cares!" Not a word on the level of indebtedness of the country... not a word on risk!
Posted by confused76 @ 09:06 PM (146 views) Add Comment
7 Comments
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1. confused76 said...
Find more on HPC in the Guardian at
http://money.guardian.co.uk/houseprices/story/0,,2061718,00.html
"The investment bank ABN Amro this week issued a Home Truths research note declaring that UK housing was 50% overvalued. Prices, it said, had become "detached from fundamentals" and "a housing market collapse will undermine confidence in sterling, preventing the Bank of England from cutting rates and prolonging the downturn".
2. Scott said...
Is it just me or has the wind changed direction this past 2 weeks? I have been hanging around on this website for 6 months and the crash-related activity in the past 2 weeks has been considerable. Since 2 months ago, I believe there will be a crash soon.
3. bidin'matime said...
I liked the bit:- "prices and gonna fall, well they're not gonna fall..."
A perfect spoken encapsulation (even if apparently a slip of the tongue on this occasion) of what we read all the time in the press - prices are too high, there's a bubble (well sort of), it's madness, it can't carry on like this - but DON'T WORRY - PRICES ARE NOT GOING TO FALL! Got to keep telling the readers / listeners what they want to hear or they'll go elsewhere...
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6. Bubbles. . . . said...
Come freindly crash and fall on Poole, and make it fit for new buyers now!!
Please fall come soon my dad wants to chuck me out and I aint got the money for a Boom!!! So please god help me soon...
7. Whiteknight said...
People have been mewing the equity in their homes and spending it.
That is the problem.
I would focus on 80% for a crash figure.