Friday, Mar 21, 2008
The abysmal ignorance of Anne Ashworth
Times: Can the Bank of Mum and Dad rescue first-time buyers?
She is the inventor and leader of the Brick Chicks. She writes: "After the collapse of Bear Stearns, a previously obscure institution that became a household name over a weekend..." AH AHHAHHA AHHAHAHAHA... but read the entire piece, it s a load of rubbish. Her BTL portfolio will unfold... AHHHHA HAHAH
Posted by confused76 @ 05:11 PM (911 views) Add Comment
12 Comments
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1. confused76 said...
"although the banks may be minded to give them the cold-shoulder, first-time buyers may receive a warmer welcome at the building societies, whose involvement in the CDO thing was minimal."
This lady does not even read her own paper: building societies have stopped lending!!
The "CDO thing" .... how can one write that in the Times! AHHA HAHAHAHAH
Cost of capital for the bldg societies is now at the marginal rate of savings, i.e. 7%
they can t accept any new business.... unless they resort to the BoE
2. Papabear said...
I just posted an angry comment on the Times website but I doubt they will publish it. The woman is a moron!
3. techieman said...
BS obscure - BS!
4. plato said...
NR used to be obscure too if you live on another planet as some seem to.
5. techieman said...
I think the comments at the bottom actually say it all.
6. enuii said...
Bad journalism not worthy of the newsprint:-
"the British have been in the habit of moving house every seven years. The slide in transactions resulting from the difficulty in obtaining finance is predicted to increase this to every 25 years."
Smacks of a made up statistic.
"the Bank of Mum and Dad; parents who have made a wise investment in property will be using their equity to turn their children from tenants into owner-occupiers."
Really, this must apply to around 1% of the UK population or less!
First two comments sum her and her article up, is the first comment from our enlightened fold?
P.S. The vast majority of the UK's current Mums & Dads will be paying mortgages till they retire with underfunded pension pots, the bank of mum and dad will probably die out as the baby-boomers die off.
7. bystander said...
Definitely another case of ramping up the market and looking for alternatives to the usual, now unusual sources of funding. How, may I ask, can Mum and Dad subsidise their offspring if they are themselves concerned about the drops in house prices??? Another example of shameless ramping was on the BBC earlier today. The BBC's totally impartial review of the state of housing in Birmingham - Declan, the unbiased, was interviewing - A landlord/developer, an estate agent and a planning and regeneration officer from the council. "Hard hitting" questions answered with VI bravado, but if this is all the public hear, then prepare for a continuation of the same. Where were the first time buyers/ young professionals, who are supposed to buy these flats??? Why are they not interviewed and given a voice?.............because they would probably tell the truth, that a two bed in Birmingham should still cost 72,000GBP, as it did in 2002, not 130,000GBP as it does now. The BBC is just a mouthpiece for Crash and his merry men/ women etc. It just annoys me that we are fed lies constantly
8. Landedgentry said...
My god what a terrible article. To drag your folks into this mess as well?
"mature behaviour"? SHAME!
9. alan said...
I read the comments. Anne really should know better as a journalist.
On the brighter side, some of the comments under the article were really funny!
10. hpwatcher said...
I find everything this woman writes pretty bland.....
11. japanese uncle said...
What a poor Bear to be called 'obscure institution'! LOL How come this lady is qualified to write something on the subject of finance and that in the Times, albeit its quality considerably downgraded after the acquisition by RM.
12. sold out said...
obscure memrobilia for sale
http://uk.news.yahoo.com/afp/20080321/tbs-us-banking-company-bearstearns-aucti-8cc5291.html