Wednesday, Jan 16, 2008
"swiftly plummeted to recession levels" - No recession???
Telegraph.co.uk: Property returns plunge to IPD all-time low
Returns in the UK property market plunged another 3.7pc in December, the largest monthly fall for the Investment Property Databank since records began in 1986.
Posted by it_is_going_with_a_bang @ 12:15 AM (439 views) Add Comment
4 Comments
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1. it_is_going_with_a_bang said...
Is it just me or do I sense the LandlordExpert turning this around as "A great opportunity".
2. it_is_going_with_a_bang said...
And whilst the wine is till in 'full effect' I would like to remind some good friends of mine that buying £2,000 of Northern Rock shares because they watched a TV program that said 'they couldn't lose' at this silly price because it undervalued the shares - was not the best advice they have ever responded to.
I'm sure some bright spark out there will advise that property and property shares are unrealistically low after these 'last few silly months'.
It's a 'good time to buy'..... NOT.
3. drewster said...
@it_is_going.... : No, this is definitely not "a great opportunity" (and I accept those are not your personal views, you are merely playing devil's advocate)
There are two fundamental rules in investing: Cut Your Losses and Run Your Gains. That means sell when something is falling, and buy when something is rising. When an asset is falling in value, it's usually because of bad news - perhaps the company's shares have suffered after one bad quarter, but the CEO assures you that the next quarter will be fine. Alas that is often not the case - one set of bad news is more often than not just the precursor to more bad news (just look at NR). Similarly in housing: one quarter's bad news suggests more is on the way. Now is not the time to invest in property! On the flip side, good news invites more good news: if your gold rises from $600 to $700 or oil from $70 to $90 and you think "surely it can't go any higher", well you are mistaken, it can still go much further.
4. hpwatcher said...
There was some idiot in the Times the other day saying the recession wasn't going to happen. Talk about putting your job on the line.