Saturday, Dec 08, 2007
History repeats itself
Tgraph: 1991 here we come
there is now a whole generation who haven't a clue what a bust feels like. They only know the comforting boom, boom, boom of the last 10 years, a golden age where credit has been cheap and practically limitless, a second home has seemed more like a right than a privilege and exotic holidays have become the norm. It was much the same atmosphere in the 1980s....
Posted by confused76 @ 01:49 PM (921 views) Add Comment
9 Comments
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1. Happy? said...
....there is now a whole generation who haven't a clue what a bust feels like....
Nah, every generation think they invented sex. Today's yoof have many faults but I'm sure they know what a bust feels like
2. techieman said...
Thats WHY there can be a bust!!! But more than that i would go back to the old K-wave, the 90s to now is the last up in that wave.....
3. japanese uncle said...
Enjoyable article, but
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That politics was in a state of disgrace and that Major, like Brown, had to follow on from a political giant, is only one of the remarkable parallels with the situation that we are in today
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By 'political giant' can the author by any chance be referring to that miserably unsuccessful property speculator using even professional conman to aqcuire cheap flats, who might have been moonlighting as a PM of the nation for a while? Is he?
4. planning4acrash said...
Does this fall represent more reduced properties sold, or put back up in price after the rate? This is a big fall and is clearly related to the IR cut. Will be interesting to see how this pans out.
5. Cheekie Charlie said...
"Yes, despair-fuelled Grunge music filled the airwaves, with Nirvana, Soundgarden and Pearl Jam grinding out the dirges that seemed to fit with the newly desperate times."
And today we have the brilliant Editors who will guide us through the depths. Great band for bad times ahead.
6. bidin'matime said...
It’s really fascinating, though, to see our predictions all played out – after years of studied bullishness from the press, we have now well and truly entered the phase of negative reporting, when no ‘self-respecting commentator’ dare ignore the signs – the rest of the herd is on the move, so they have to move too…
What they don’t seem to appreciate is that, exactly what they say is neither here nor there – by putting out generally negative comment, they are simply playing their part in this tragi-comedy.
7. Nasha said...
WRT www.propertysnake.co.uk update: 125,700
It looks like they have cleaned up the database alot less duplicates.
8. Jason74 said...
True Planning. I have noticed several properties that have been "sticking" in my area going under offer in the last couple of days. Whether we like it or not, there can be little doubt that in the short term at least, the IR cut has done exactly what the VIs wanted it to do.
9. Maihem said...
@4. bidin'matime,
Actually, by putting out generally negative comments they are playing their part in stopping the tragedy. Only by continuing to say positive things in the face of all available evidence like they did 88-90 will they have played a part in the tragicomedy. One could argue that this here web site could well have been the driver in averting a full scale economic meld-down - if we're lucky.
You can't talk a market up or down beyond the limits of idiocy and we are at the idiot point right now so being positive couldn't possibly help, only hinder.