Monday, Jun 11, 2007
Commercial property sinks
Times: Workspace dives as rate rises bite
After so many profit warnings and one aborted IPO we can safely say that the commercial property bubble has burst here in the UK. I anxiously wait for Glorious Sunshine, David_2004 and other "bulls" to concede defeat on the "commercial" side. Jury is still out for "residential". "We continue to acquire where we see good long term value" 'long term' has become the latest property mantra...
Posted by confused76 @ 11:39 PM (170 views) Add Comment
5 Comments
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1. David20040_0 said...
I am not a bull.
I want to state now, I want property to crash. But right now I can't see it happening.
I WANT PROPERTY TO CRASH.
2. Orwell said...
DAVID,
ITS FAR TOO OVERPRICED AND NOBODY CAN EXPAND THEIR BUSINESS, WE HAVE REAL PROBLEMS IN THIS DEPARTMENT! PEOPLE HAVE BEEN TREATING IT (AND RESIDENTIAL) AS PASS THE PARCEL AT THE PARTY BUT THIS IS GOING TO COME TO AN ABRUPT END MY FRIEND!
3. dugmug said...
David, the term bull is used for the people who thinks a market (be it housing, shares, whatever) is strong and rising, whereas bears are those that believe the future, for the market in question, is that it will weaken/drop. So, as you believe the housing market will keep rising, I'm afraid that does make you a bull - the term isn't used to describe what you WANT to happen, but to describe what you BELIEVE will happen, you see.
I certainly am aware that you want the market to crash, don't worry there. It's your belief that it never will that I find so difficult to cope with, because I've seen the same thing said so many times at the height of so many booms and it's always been wrong in the past. Still, I can't categorically "prove" to you that, "this time won't be different" until/unless it happens - that's the problem with the future. So of course you're entitled to your opinion, but you won't get me to agree I'm afraid.
4. dohousescrashinthewoods said...
I stick firmly by the username I have chosen - do houses crash in the woods? Of course they do. It is a cyclical market. This time it has been pumped by low interest rates/global liquidity (aka cheap money) to spectacular heights.
People borrow what they can "afford" and prices rise to meet that. When rates were low, people could "afford" dramaticaly more. Rates are now rising, ergo prices will respond.
As one article yesterday suggested, supply and demand is about as convincing as Britney's comeback. As has been noted here, if this boom had anything to do with supply and demand, Japan would be way ahead of us.
As it happens, I think they are. I think there is a risk our economy will be dead in the water (from debt) for the next 20 years.
5. confused76 said...
yes, yes...
bull as in "bulls and bears", no offence David