Monday, Jan 21, 2008
Comical Ali and the Bricks Chicks
Times: Bargain hunters reignite UK housing market
The Times has turned into the real epicentre of misinformation on the UK housing market. With davidsmith, the Bricks Chicks and the space given to the estate agents so-called "economists" (the Fionnaullalaulla's, the Savills, the Hamptons) now the Times is competing with comics. “Some properties have had their prices dropped by 10 per cent or more and are now within reach, satisfying some of the pent-up demand from previous disenfranchised buyers.” The amount of time a property remains on the market came down slightly this month to 95 days, down from a peak of 98 days in December" Sure, sure, but Miles forgot to say that there are sellers taking properties out of the sale market and renting them out, thus depressing rents. I post more links in the comments.
9 Comments
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1. confused76 said...
Enjoy the Bricks Chicks (and read the comments, some from the HPC bloggers) at
http://property.timesonline.co.uk/tol/life_and_style/property/article3210017.ece
then look at the balooning unsold and unrented stocks in the December release of the Primelocation house market report
http://www.primelocation.com/house-price-index/
2. cyril said...
House prices go down making them more affordable to first time buyers so they go back up again...
...but if this happened they'd go down again...and then up again.... Oh dear this is too complicated.
3. mark said...
this is utter rubbish....usual BS from a rubbish paper
4. sovietuk said...
The standard of journalism is better in my local parish magazine than in this pathetic corner of the times.
5. symo said...
What has April fool's come early or is the classic bull trap in a declining asset? I would have thought if this newspaper wanted to save any dignity left they would think carefully before publishing this. There is no growth in house prices, there will be either deflation or hyper inflation happening in 2008. Now the government cannot stop it unless interest rates are raised to control inflation like the BofE is supposed to do.
6. techieman said...
they will peddle this all the way down.... lets wait for the "now is time not to buy" in a while and then things should be affordable enough to get on board.
7. handle_it said...
I work with someone who has just started looking for a house. His moooohoosive girlfriend has been bought up in manner she certainly isn't prepared to let go of. So she has persuaded him that "Now iz da rite time" to buy. My advice has not been taken. Sadly a generation has no concept of reality. Soon they will.
8. David Smith's Sub Prime. . . said...
"..Ask your EA and surveyor to guarantee, in writing that the market will not crash in the next three years. If it does, they will compensate half your loss - seems fair, a 50/50 share with you of the risk..."
That about sums it up from a blogger on the article...
9. jack c said...
“Some homebuyers are now able to find properties that have fallen into their affordability zone, and are bagging what they see as bargains against previous prices"
------ bagging a liability more like at this juncture