Thursday, Apr 12, 2007
Runaway train!
Guardian: Report fears boom and bust housing market
Fears that the housing market could return to a cycle of boom and bust should not be treated lightly, a report claimed today, as surveyors said house prices had risen for the 17th consecutive month.
They're getting worried now - a ten year slump will finish off half their industry!
Posted by tyrellcorporation @ 11:17 AM (142 views) Add Comment
16 Comments
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1. tony marshall said...
"The report's author, Karina Purang, said she was not predicting a crash "mainly because the economy remains healthy", but that "the threat of a boom and bust cycle is still present".
Isn't that what they call having your cake and eating it...?
2. george monsoon said...
Well a soft landiing is bu@@er all good to me, I need a crash to get anywhere near being able to buy a house!!
All this ranting about "dangers of a crash" then the articles are all predictably ended on an up note of something like "but the economy is strong, so no crash imminent.... hey ho"
Who actually cares what they say, market forces WILL cause a crash and big time... too much credit, too many unregulated lending practices and far too many get rich quick media programmes. come on.. I want to see drivers of those MEW funded X5's and "look at my 45 inch plasma" D*ckheads crying on the street, so I can give them a good kicking and say "serves you right you stupid, ignorant greedy sh!t"
rant over...
3. Adam said...
george monsoon - a man after my own heart
it needed to be said and that i think just about sums it up.
4. inbreda said...
rant appreciated George!!
5. tyrellcorporation said...
Nice one george! I'm with you all the way mate! :)
My brother phoned me from his house in Chard (Somerset). He said he's noticed more and more Range Rover Sport's and Audi Q7 drop-ships rumbling up and down the high street recently. these types of vehicles just never existed in small market towns in Somerset before. Vile bling is replacing cool knackered Series 1 landrovers... how bloody sad! Downsizers and MEWers - burn them all!
6. European-bear said...
There is no danger of returning to boom and bust because the housing market never left it...I think this phase of the market is called the boom (or am I just stupid?)
7. p. o. o. r said...
It was only a matter of a few months ago that the media was saying, the market is fantastic, Long gone are the times of booms and crashes, Interest Rates will NOT go above 5% in the near future... Well, Interest rates are now over 5%, they are now saying that there maybe another couple of hikes again this year, and there is also talk now that a crash cannot be ruled out... Slowly but surely the midea is starting to switch... It is only going to be a matter of months until the media starts saying that a crash WILL happen. The tide is turning!
8. Van Hoostraten said...
What is the interest rate "barrage" the RICS spokesman is talking about - did I miss something
9. Hedgefunded said...
What's wrong with downsizers?
10. Scott said...
Not only will the tides turn p.o.o.r., they will claim we had been warned.
11. Scott said...
I would not want to be a home-owner on George Monsoon's street. In fact, I would be too scared to get a TV!
12. talking rot said...
George
I share your thoughts and agree entirely. You missed out those fake-tanned orange women with peroxide hair though!
rant appreciated greatly.
13. confused76 said...
George,
you read my mind!!!!
If a few months ago I was feeling sorry for the people who will lose their homes in the next crash, and was hoping for a soft landing, now I dont give a d@mn! If people are so brainless even to remember the market slowdown in 2005. Come repossessions!!
14. The Baldman said...
The economy is based on HPI. No HPI no strong economy.
15. doomwatch said...
Utter madness has set in over the last year fuelled by the VI media. When a 2 bed non spectacular flat goes for 400K in Clapham, it reminds me
of the mentality around the Florida land bubble in the 20s. People ended up paying massive premiums for plots on swamp land.
It was driven by the "everyone else is doing it, so I must, otherwise I'll miss out" greed mentality.
THIS WILL END AS IT ALWAYS DOES.
16. enuii said...
Tyrell/George, reminds me of a street near me of 2 bed semi's that 10 years ago you would have been lucky to see a new fiesta in, it now full of VW Toerags, Mercs and a whole rang of 30K plus 4x4's etc etc. All funded on equity release because if you really did have the money to support such vehicles you definitely would not want to live there.
One day the money will run out and the punters will be left holding the mortgages for the next +25 years!