Monday, Nov 24, 2008
It's been a while - the Comedy Club is back in session
Assetz: A positive consensus
If one reads the views of some commentators on the buy-to-let industry, the situation appears unremittingly dire: one of failure, negative equity and collapse. Standard & Poor's recent study suggested that the fall in property values could lead to as many as four out of every ten investors being in negative equity next year.
This month's Landlord and Buy-to-Let Show at the NEC in Birmingham, produced a consensus that success is still there for the taking if those keen to invest for the first time or add to their portfolios in the current market make sure they carry out thorough research on the homes they are investing in and the tenants they are taking on. Those buying now or in the near future will be buying at or near the bottom in the market.
11 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Neo-serf said...
Please - someone section these people - a very real threat to the public
2. drewster said...
Here's how to write an Assetz "news" release:
If house prices go up, talk about what great news this is for landlords as they are now wealthier (on paper).
If house prices go down, talk about what a great opportunity this is for landlords as their yields have gone up.
"Another fact worth noting is that if [...] they have invested for the long haul, [...] several years may have passed, giving the market ample time to recover and prices time to rise."
Tell that to the Japanese - for how many years did their prices carry on falling? See the graph below (note that it shows growth not prices, i.e. growth was less than 0% from 1992 to 2006).
3. jackas said...
This idiot has clearly never seen a bear market. At least he's through the denial stage...
There's a beautiful irony in one of Stuart Law's "News" reports containing the phrase "In one sense, however, this is not news."
Mr Law - You have lasted longer than I predicted, well done. You are also a longer running joke than I predicted. Well done.
4. harold said...
Bungling buffoon
5. vindicated said...
'Those buying now or in the near future will be buying at or near the bottom in the market.'
He is having a tin bath right?!?!?! Would love some of what he's on. Would make the outlook of living on this shoddy little island so much more positive
6. alan said...
An excellent post. Guaranteed to bring a smile to the face...!
Best laugh today!
7. sold out said...
You only need to look at what Stuartz was saying a year ago to really appreciate his comic genius.
http://investors.assetz.co.uk/blog/?postid=54
8. crash bandicoot said...
I'm surprised that he's still allowed to refer to buying houses as "investing" without getting busted under the trade description act.
9. new user 2007 said...
"The NEC event, which featured over 40 seminars and more than 70 exhibitors, produced a consensus that success is still there for the taking if those keen to invest for the first time or add to their portfolios in the current market make sure they carry out thorough research on the homes they are investing in and the tenants they are taking on."
So no vested interests there then:)
I would love to know who is basing their investments on what he is saying. According to him, the buying opportunity started in October 2007 i.e. the "clever money" should have been going in since then! By now that clever money would have lost tens of thousands of pounds.
Another nugget of wisdom elsewhere is that the market will be supported by falling rates, ignoring the evidence of Japan and the US, or that house price falls will more than offset any fictional rise in rental yields. He ignores why rates are falling...rising unemployment, recession and immigrants leaving. All inconvenient causality for his mugs.
10. new user 2007 said...
Read the December 2007 story. Cherry-picking government statistics, a government he has since said does not know what it is talking about.
As for using Warren Buffet's investment theory. Mr Buffet at the time said he would not touch property with a barge pole.
As for long term investing. Mr Buffet and anyone with an IQ would retain cash and then buy at the bottom, not buy and not care that prices could fall further as "it was a long term investment". Buying sooner so the capital can be paid down does not even make sense as a theory for BTL, as they do interest-only.
11. jackas said...
I hope he ends up bankrupt and homeless.