Thursday, May 17, 2007
Over reliance on property investments
Reuters: House equity crowds investment market
The property boom of the last 10 years has led to a dangerous over-reliance on property, the director of a major think-tank has warned.
Posted by alan @ 04:49 PM (145 views) Add Comment
13 Comments
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1. Northern Monkey said...
How come Reuters pulled the article?!
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3. This comment has been removed as it was found to be in breach of our Blog Policies.
4. paul said...
Ooh. This is an interesting new angle.
Too many have piled their money into property at the expense of other investment vehicles. Well a lot of people are about to get their fingers burned then aren't they?
5. Scott said...
I remember the last property crash. It was terrible. I was 7 years old. In late 1989 there was a program dedicated to how properties could be devalued and my parents had to watch it so I could not play by crazy shootout atari 65XE console game when I came home from school. It was upsetting.
On a related and more serious note, how will the children of the recent buyers that will soon be suffering grow up? Resentment by the system that has fleeced their parents. Forsaken, vengeful, lord of the flies and so on.
6. enuii said...
It's not just domestic property it's the commercial stuff too!
7. dohousescrashinthewoods said...
..and commercial has been peaking and turning.
..and the share prices of residential/sub-prime property companies has been declining.
party's over, here comes a hangover.
8. Scott said...
If you ask me, there is over supply. I live in London and there are plenty of cottages in Soho.
9. dobber said...
DHCITW,
I can see commercial turning, can you give examples of residential (all I can see at the moment is the likes of Persimmon, Barratt and Wimpey defying belief)
10. Tara747 said...
And empty commercial property is about to lose its rates exemption! So it will be piling onto the market in the next few months.
11. Andy said...
Dobber.
Yeah your absolutley right -
US Housing
In the US, our 'Morrison Homes' brand operates in 14 of the strongest housing markets across five states from California to Florida. In recent years Morrison Homes has gone from strength to strength, building on its reputation for delivering quality homes with outstanding levels of customer service.
The business continues to experience rapid growth, delivering circa 5,000 homes in 2005 with operating profits more than trebling over the past five years. Morrison builds a range of traditional single family homes and more compact attached town homes.
Go buy some stock when you next visit planet Earth -
http://corporate.persimmonhomes.com/psn/investor/share/summary/
http://www.barratt-investor-relations.co.uk/financialperformance/
http://georgewimpey.hemscott.com/About%20Us
12. bidin'matime said...
They appear to have pulled the story? It comes up saying "We're sorry... this story is not currently available"
13. Alan said...
Link moved:
http://investing.reuters.co.uk/news/articleinvesting.aspx?type=propertyNews&storyID=2007-05-16T081808Z_01_NOA629557_RTRUKOC_0_CITYWIRE-HOUSES.xml