Saturday, Dec 22, 2007
Stuart Law, chief executive, Assetz predicts period of stabilisation.
Telegraph: ASSETZ: HOUSING CRASH? DON'T BELIEVE THE HYPE
"The danger is that people are now beginning to believe such spurious claims, offering a further knock to consumer and investor confidence.
While there is no denying that the rate of house price growth will continue to slow in 2008, this is the result of a widely anticipated period of stabilisation, and is not the beginning of a housing market crash, as is being touted within the industry"
Who do you think you are kidding Mr Law?
Posted by mike livingstone @ 05:02 PM (904 views) Add Comment
14 Comments
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1. Martin said...
Obviously, Stuart Law is trying to fool "ordinary people" who have no in-depth knowledge of the financial sector, modern fiat money system!!
2. wiltshire said...
Do you think he really believes what he says or is he simply painted into a corner? "Widely anticipated period of stabilisation", what a prize pillock this bloke is. I hope his tin-pot empire crumbles very soon because I'm sick of reading the carp he sprouts.
3. Mr Plumbase said...
Probably trying to offload his btl's
4. drewster said...
Oh no, we're in danger of talking ourselves into a crash! Just like the crew of the Titanic talked themselves into that iceberg. What a load of lobbox.
5. Nmarks said...
They don't beleive the 'hype' they just look at the facts.
Its the tw4ts that bought into the HPI hype that got us into this mess.
6. Willing said...
A this current stage it's more like the crew of the titaic talking themselves into the ship sinking to an icy grave after hitting the iceburg - all but a done deal
7. Renting2 said...
People like him were perfectly happy to talk the market up big time to make as much money as poss as quickly as poss without regard to impact on others. Now is the time to talk the market down big time to ensure the crash is over as quickly as possible.
8. it_is_going_with_a_bang said...
"Professional investors in any market act against the crowd."
What a load of rubbish. That is a sweeping generalization which is meaningless.
"the continued mutterings are running the risk of turning into a self-fulfilling prophecy."
True to a point. But it's funny how talking the price of property up was never an issue or taboo in any sense.
"What is more, rents will pretty much cover your mortgage straightaway with strong returns already being reported."
Err. No they won't.
Why was this article allowed? Clearly it is just an advert. Journalism my ar5e.
How much did he pay to give his opinion!
9. Guiriduro said...
There is absolutely no way they can talk the public out of the widely-anticipated recession, but if they can trap a few reality-deniers into buying around or slightly below current prices then the people they are protecting can offload unwanted property and get most of their equity back. The Ponzi scheme is always looking for the greater fool, and at the point of near collapse is when the conflicts of interest become clearest. This is the last moment when the lesser fools can trick the greater fools into buying the (increasingly apparent) overpriced assets, so by talking it up as a buying opportunity they aren't realistically going to change the market, merely hoping to catch a few idiots into taking the houses (i.e. debt) they desperately don't want to hold, at a price which is probably still in positive territory if they bought more than 18 months ago. In another 3 months or so, when the opportunity has really gone, they will join the consensus, just watch.
10. taffee said...
professional investors tend to go with the trend imo....I know no-one whos buy-to-let ever made any money on a monthly basis
11. inbreda said...
"the continued mutterings are running the risk of turning into a self-fulfilling prophecy."
yes - the long awaited downward spiral created as a result of the upward spiral of the last decade. There wouldn't be a bust if you hadn't so much time contributing to the boom Mr Law. The time to stabilise was about 5+ years ago - not now.
12. dohousescrashinthewoods said...
Talked ourselves into a boom, I guess it stands to reason we'll talk ourselves into a crash.
13. new user 2007 said...
This is just a repeat of what he had on the ASSets website.
How come his company does not have to be monitored as an investment advisor...he does not seem to believe asset prices can fall as well as rise.
14. alan said...
The asset bubble is deflating. There is no way Mr Law can talk his way out of it.
House buyers have booked off for a short season. They will return when:
1. They can get a loan.
2. Prices are more affordable.
3. Ex-BTL reposessions start to hit the market.