Monday, Nov 12, 2007
VIs ask thisismoney to remove house price crash-ometer
thisismoney: The house price crash-ometer that has lenders worried
The Council of Mortgage Lenders has written to the editor of thisismoney website asking for the removal of the house price crash-ometer complaining that 'tool seems specifically designed to cause maximum alarm' and that they have 'alerted the Nationwide to the way in which their data is being used'. Ohhhhhhh, look who's scared now!!!
Posted by koala bear @ 06:22 AM (1741 views) Add Comment
9 Comments
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1. Dude said...
I'm sure this is going to a very heavily commented article -- and quite right too.
This will be the tip of the iceberg. Just think what is going up and down the country in regional news offices -- 'now don't you start pumping any of that crash nonsense, otherwise our advertises will pull out.' This is a timely reminder to everyone to *always* be cynical about news stories, their sources and why they are being run at the time they are being run.
Cynicism can be very healthy! Go on ThisIsMoney!
2. paul said...
Ooh I like that. That's funny. Bravo Mr Oxlade.
The CML seems to have an unhealthy appetite for both left and right foot sandwiches.
3. Mark said...
it is up to them how they use public data... not the CML EXTREMISTS.....
4. Sold My Soul To The Never Never Never said...
I think that it's a sad indictment that the CML are trying to say that thisismoney is scaring people. Now that we are moving into uncertain times it is important that through websites such as these we are able to analyse our own data in order to make choices and decisions. Unfortunately for the likes of us in 1988 who jumped on the ladder at that time there was no internet and we all jumped in like sheep. Well done Andrew - carry on the good work!
5. Dave The Box said...
I'm sure they were happy enough when "howmuchmoneyhaveyoumadeonyourhouse" -ometers were everywhere.
But seriously, there were never any complaints about the plethora of property programmes and magazines telling you how much money you could make on you property. And these were literally rammed down peoples throats! At least this crash-ometer is based on facts (ie the last crash). The "get rich quick" articles are based on only sentiment and greed.
Talk about double standards!
6. fahrenheit451 said...
Good for ThisIsMoney. Ridiculous idea from the CML that just because the 1992 button was there, that we should expect prices to reach 1992 levels again. Any sensible user of the calculator would be quite happy to play with the settings and find out what the margins were.
You need a Crystal Ball to predict the future, and they are very rare, hard to find and can only be created with the utmost care. Secret ingredients include "Hair of frog, Eye of worm, Toe of jelly fish" !!!
7. uncle chris said...
Proves that the CML are starting to panic about the crash scenario, and desperately trying to orchistrate a coverup through influence on any talk of crash. Anything to protect their billion pound gravytrain, and at the expense of the naive in our society who are still being suckered in - shameful. Not long now ...... :-)
8. denzil said...
Oh Dear! It's quite bizarre that the CML find it acceptable to positively spin articles on HPI and they're even more happy for the cut 'n' paste journos at BBC online to add a bit more spin but they don't like it when somebody doesn't subscribe to the CML spin 'o' meter. Sorry but that's tough. Many FTB around this country have been completely screwed over whilst the likes of the CML and its members have been awarded handsome bonuses on the back of very high house prices and some very suspect lending practises.
9. sold out said...
Just found a photo of the CML."DONT PANIC"
http://www.jilldaniels.com/dads-army.jpg
I have noticed in recent weeks the panic and desperation is starting to show in a lot of differant areas,for example i went to see my local estate agent last week to see what rental places where available for Jan 2008.They know i sold up in 2006 and banked my equity and where really pushing me to buy,telling me how much of a buyers market it was now.I obviously declined and you could tell they where bitterly disappointed,especially when i told them that it was not yet my kind of buyers market.It was then that one of them said "You don't believe all this stuff about a crash do you" I just smiled (although i felt like laughing out loud confused76 style) and left.Had a very similar discussion with a morgage advisor who was almost begging me,not a pretty site.
I have also noticed some desperation from builders who where last week advertising some of their so called luxury developements ( slums of the future) on Essex FM.I have never heard these type of property ads on radio before,has anyone else?