Tuesday, Sep 25, 2007
History doesn't repeat itself, but it does rhyme
The Market Oracle: UK Housing Market on Brink of Price Crash - Media Lessons from 1989!
The UK Housing market is teetering on the brink of a crash led by the buy to let sector investors jumping ship. But the messages coming from the major banks and UK central bank are still benign. In many ways the situation is reminiscent of the initial stages of the the early 1990's property bust, which was also accompanied by soothing statements that ignored the facts on the ground as this article will illustrate.
Posted by in the delhi @ 08:24 AM (384 views) Add Comment
4 Comments
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1. cornishman said...
"The Times WED 22 MAR 1989 Marking time;House prices in Britain House prices in Britain are likely to stagnate this year"
Stagnant things tend to smell after a while...
2. alan said...
If you look on the predictions area of the homepage, you will see lots of 2008 predictions by the CML, Nationwide, Knight Frank etc. All seem mildly bullish.
The bearish prediction is seen at the bottom by HPC.
So, have the media learned from 1989?
3. dohousescrashinthewoods said...
This one made me smile wryly, how eactly like now does this sound:
"The Times TUE 03 JAN 1989 Agents optimistic about house prices A leading national firm of estate agents believes a collapse in the property market in 1989 is highly unlikely."
4. Mechos said...
This article predict 15% fall over next 2 years!
One for the table on the front page?