Friday, Jul 25, 2008
Arsetz predicts the earth is also FLAT !!!
your mortgage.com: Assetz predicts house price plateau
It showed the five major house price indices recorded an average house price fall of 1.5% since June 2007.
However, Assetz believes this is a temporary correction in the market rather than a crash, and prices will begin to level off in the autumn before starting to climb again in the second half of 2009.
Posted by housebear @ 12:16 PM (1524 views) Add Comment
20 Comments
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1. housebear said...
Ztewart Law, the eternal optimist!
I have to hand it to him, he is very definitely, the glass is half full, kind of guy.
Does this man print this rubbish just to give us a bit of sport here at HPC?
Ready, load, aim and FIRE
Bang
CRASH
2. Dellboy said...
"Given consumer nervousness at present, the material saving in their mortgage repayments could be perceived to offset the increase in energy and food bills, alleviating pay increase pressures that are building. Pay increases present the real danger, as they will drive genuine local inflation and in turn lead to interest rate increases in the future, rather than decreases.”
If I read this correctly, we must resist increasing our salaries so that the BOE will be able to keep rates low so that we can pay less for our mortgages. All of which will result in our PERCEPTION of wealth improving.
OR
We are unable to pay our fuel bills because mortgage costs are high. So the BOE must drop rates so that we can use the extra money to pay for fuel bills.
OR
They are clutching at straws and there is no chance in Hell that FTB will get back into the market because HOUSES ARE TOO EXPENSIVE.
3. eyeoftheweasel said...
Maybe rising house prices are the economic equivalent of perpetual motion?
4. mark said...
why bother giving him traffic by placing a link in here?????
5. new user 2007 said...
I give up. He wins. There are so many inconsistencies here that it is beyond boring and tiring. Just sad and pathetic.
Mad (i.e. does he believe what he writes..ignoring that all of it is impossibly inconsistent in terms of basic economics) or he knows he is making it up?
Mark...
because his ego, combined with the fact that he can trace where the trafiic is coming from, means that he actually reads these?:)
6. new user 2007 said...
p.s.
"Assetz believes this is a temporary correction in the market rather than a crash, and prices will begin to level off in the autumn before starting to climb again in the second half of 2009."
maybe he is being perfectly reasonable and is merely defining a "correction" as 20%, whereas everyone else would define that as a "crash"
ignoring of course that his complex weighted "thing-a-me-jig" index and his own forecast a couple of months ago was saying that it could not happen at all, unless the BoE did something silly like stick to its actual remit (as opposed to Mr ASSetz' remit:)
7. Stevo said...
This sap has more than likely a property portfolio as long as a mike yarwood joke
8. growler said...
Since they also believed that there would be no correction, there sincerity is probably as deep as their every shortening order book.
9. growler said...
... make that "their sincerity" ;-)
10. jackas said...
new user2007 - I'm sure Stuart does read our responses - there was even someone on here claiming to be him defending his views a few months back.
I have gone from finding his comments infuriating to laughable, and I now enjoy them, however I still wish he would cease. I still predict Assets will implode on 5th Now 2008.
"Pay increases present the real danger, as they will drive genuine local inflation and in turn lead to interest rate increases in the future, rather than decreases.”
What he's saying here is that inflation is ok, as long as it is contained within house prices and house prices alone. It shouldn't be allowed to leak out into the general economy, because that would be bad inflation, not good inflation. What he wants is for people to make money on houses, and use that extra "wealth" to only buy houses with, so as not to force any other asset prices up. In other words simply have the pound devalue against bricks and mortar but not anything else. Meanwhile anyone that doesn't own a house should remain relatively impoverished.
Stuart - I know you're reading this. Let me ask you a question. All the money that you have made in your property investments - have you simply re-invested in property? If you have, then you haven't actually got any wealthier because, as I'm sure you've noticed, there's been alot of house price inflation over the last few years and your money isn't buying as much as it used to.
The games up. You've had your fun, now get your money out of your over-inflated properties (if you still can) and go and invest it in something else. You are not an expert, you are just a person who has huge vested interest in the price of houses, so stop talking about what interest rates "should" be, STFU and go and set up another pyramid scheme somewhere else. There's an "alternative energy" or "nanotechnology" scam out there with your name written all over it.
11. housebear said...
4. mark said...
"why bother giving him traffic by placing a link in here?????"
Just for sport really, Mark.
It's like a car crash, you have look at the death and carnage, even though you know you shouldn't.
Ztewart law seems to provoke a lot of comment on HPC, so I'll keep posting until it doesn't get a reaction anymore.
Like I said earlier, it’s just for sport really.
Somebody has stand up for the bulls, they are all but go now!!
12. housebear said...
"Somebody has stand up for the bulls, they are all but go now!!"
correction
Somebody has stand up for the bulls, they are all but gone now
13. doomwatch said...
Stew Pot, if you are looking, suggest you pop on here Stew Pot
for some help.
14. hpwatcher said...
I have gone from finding his comments infuriating to laughable
He isn't going down without a good fight is he?
15. Keeprenting said...
I think you should appreciate Stuatz and his "unique" take on the property market while he is while he is still around. Something tells me that Assetz is not going to be in existence forever - I give it until mid-2009 at the very latest.
16. housebear said...
Ztew allways reminds me of this sketch.
Sorry I don't know how to make it live link.
If anyone call tell me I would be very grateful
Have laugh folks!
http://www.youtube.com/watch?v=nL0dnrFbhtE
17. little professor said...
Ah, its been a while since we've had some decent comedy from Assetzzz. I thought Ztuart had given up the fight!
18. housebear said...
little professor said...
"Ah, its been a while since we've had some decent comedy from Assetzzz. I thought Ztuart had given up the fight!"
And all this time I have been spelling his name wrong "Ztewart"
Thanks LP, i'll take more care with my spelling in the future.
Well we don't want inacuacies published all over the web, zo we?
I mean do we?
Zoh Doh!!
19. Slim said...
I just took a look at assetz website and noticed that they are "property investment advisers" providing investment solutions, which I'm sure all others here are already aware of.
but my point is that, their particular business activity surely instantly disqualifies them from making any predictions or assessments that won't be biased and part of a marketing strategy to reassure potential clients?
I haven't been paying attention to any research by companies like this or building societies or estate agents.
Am I mad or surely a company like 'rightmove' or 'assets' would only spend the considerable money involved in a research on the basis that it would collate and publish statistics that support their own objectives.
In my un-educated opinion even providing a link to the article gives these 'assetz' prredictions more credibility than they deserve.
20. The Baldman said...
Did he mean the recovery in 2019?