Wednesday, Dec 24, 2008
BREAKING NEWS New born Rabbit is more accurate at predicting housing market than RICS
BBC NEWS: House prices 'will fall further'
"House prices will probably fall by another 10% in the coming year, predicts the Royal Institution of Chartered Surveyors (Rics)."......ok add another 25% and I think they could be spot on............dont forget that RICS said that house prices would only fall 5% this year.........
Posted by titaniccaptain @ 02:01 AM (905 views) Add Comment
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. paul said...
Another tawdry example of quote overuse to remove credibility from a headline.
2. paul said...
Whenever RICS data is used by the BBC to talk up house prices, quotes are not used:
House prices rise despite slow down
House sales to break £10bn barrier
Interest cut boosts house viewing
Scots house prices bucking trend
Is this against the BBC Charter of offering unbiased reporting? Probably. It is certainly dishonest reporting.
3. Boom_and_bust said...
BBC is a government propaganda machine.
4. uncle tom said...
Good observation Paul, but don't get too hung up about it - I know someone who gets really upset when apostrophes are used incorrectly - its both comic and sad to watch..
As for RICS, well pull a number out of the air, and don't make it too depressing..
However, if they are trying to get past the crash so their members can get back to work with some degree of normality, then they don't understand the sentiment among home buyers.
If people believe that prices will contoinue to drift down for another year, then we will go another year with virtually no-one entering the market for the first time, and no-one upsizing - result: more paralysis.
If they bit the bullet and said that a further sharp correction was needed before normality could return to the market, then their members would have a clear message to mark all their valuation models down immediately, and not over the coming year.
5. paul said...
Misuse of apostrophes is just bad grammar. Misuse of quotes is insidious.
Which would you prefer - Well Happy Christmas, UT! or Well "Happy Christmas", UT!
You see it? Anyway. I think Mark Wadsworth pointed out that someone else came up with the Kahnemann theory of locking gains in vs. chancing to avoid a loss which explains this.
Basically, homeowners will readily take a chance that the housing market will pick up, even though it is against the interests of the wider market when they bahave this way, because it will prolong the slump. That's why you're dead right when you say that RICS should be trying to get past the slump by telling members to mark property accordingly.
Happy Christmas without quotes BTW.
6. mark wadsworth said...
Paul, you are right. I had noticed chronic over use of speech marks in headlines, but by reverse logic, not having them implies that the headline reports cold hard facts.
7. phdinbubbles said...
I always get annoyed when they don't put speech marks in a headline (regardless of the topic). When referring to the conclusions or findings of a report, i think putting them in is good practice imho, but leaving them out lends a biased legitimacy to the "facts" they are reporting on.
8. will said...
RICS were in denial 12 months ago, but now they know where the bottom will be. I think not.
9. will said...
Our great Capatalistic Economy is built on lies, damn lies.
10. 51ck-6-51x said...
I agree with phdinbubbles.
Quotes should be used wherever a statement has not been, or cannot be, confirmed true, or wherever a third party is being quoted without direct reference (i.e. quotes are not necessary in this headline: Brown - OK, I screwed up; but are in this one: Brown 'screwed up')
Unfortunately this would imply almost everything would be in quotes! (We don't really know much do we?)
11. Crashpad4me said...
() ()
( )