Tuesday, Apr 29, 2008
Prices "slashed" in London
London evening Standard: Advice to first-time buyers and investors: don't do it
This is the most bearish article in the London Evenig Standard I have EVER seen.
e.g. Anyone else facing redundancy or even repossession should make every effort to sell before the latter takes place. The experience of the early Nineties is that being repossessed is the worst possible option.
My advice to buyers - especially first-timers and investors - is much simpler: don't do it.
Posted by doomwatch @ 01:02 PM (441 views) Add Comment
5 Comments
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1. pelethar said...
It is good stuff alright. How prominent is it in the paper/on the website?
2. need-a-crash said...
"My advice to buyers - especially first-timers and investors - is much simpler: don't do it."
Don't think we've had anyone put it quite as bluntly as this before, I think this does show a dramatic shift in the media stance.
"Prices are "slashed", but if they are reduced from a fictional original asking price the decreasing number of buyers will buy neither the "reduction" nor the house."
Quite right none of this 3% off our heavily inflated asking price and then we'll have a sale, we need some serious reductions!
3. stillthinking said...
The media offloaded their properties first, which is why there were no previous articles. Now they look to stick their snouts in the trough again.
4. mark wadsworth said...
Nice one, Mira Bar-Helliel. They should re-publish that every few days for the new few months just to ram the point home.
5. Cityfool said...
heh! While I can hardly believe the ES have the front to print this stuff when just a year ago they were saying prices could never drop I am very glad they are.