Thursday, Oct 25, 2007
A must listen !!!
BBC Five Live: Victoria Derbyshire Phone in on house prices
This is the best phone in discussion for a while. Andrew Verity argues the
case that house prices increasing at the rates we've seen in the UK are not a good thing.
Also features Gary McCausland and Sarah Beeny.
Classic quote from the Gary McCausland "property is what you call inelastic" not only proving
that he is an arrogant, but he knows nothing of fundamental economics. What an eedyet.
From 25th Oct programme: 1hr 4 mins in (10:08am)
Posted by doomwatch @ 01:39 PM (826 views) Add Comment
4 Comments
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1. Another Alan said...
Property is more inelastic than elastic. Most people buy, and move house three/four/five times a lifetime, rather than as a response to price changes. (Price changes are an important factor for FTBs, but not the majority of people who buy houses).
2. wiltshire said...
I listened to this live and it's the first time I can recall anyone on radio/tv actually arguing that house price inflation isn't a good thing per se. And they made the point that it's only any good to those who liquidate the asset, which isn't easy when it's your home!
Not sure where Sarah Beeny stands now as she's (inadvertantly???) helped the ramping over the past few years.......................
Anyway, well worth a listen.
3. planning4acrash said...
It is easy to mistake the inertia of the housing market with inelasticity, given the time it takes to re-posess and 2yr fixed mortgage rate cycles.
4. Bigyin said...
Doomwatch - it's spelt eejit...and it's a Scottish word the Irish nicked off us along with whisky and bagpipes. ;o)