Friday, Dec 19, 2008
Sarah says buy, what are these 'experts' worth?
Channel 4 News: Sarah Beeny, House Price Crash
Should I Buy Now?
Sarah says: ‘Yes, definitely. If you’re looking to move house and if it’s the right time in your life to move on, you should go for it. If you need a bigger home or need to downsize, move now.’
‘Life just isn’t long enough to be hanging around five or 10 years waiting for the property market to recover. Although, of course, you must make sure you can afford the mortgage repayments.’
Posted by gone-to-colombia @ 02:17 PM (4853 views) Add Comment
39 Comments
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1. mark wadsworth said...
Beeny appears to be conflating 'moving' with 'buying' - you can always RENT, you know, if you want to live somewhere bigger or nicer (or in our case, both) than where you were.
2. richc said...
"Although, of course, you must make sure you can afford the mortgage repayments." There's the catch.
3. Gone-to-colombia said...
Worth reading her Wiko entry, I guess she wrote it herself. No evidence here of expertise.
http://en.wikipedia.org/wiki/Sarah_Beeny
This is the woman who would have first time buyers shell out their life savings in a falling market.
When will Britain wake up to the reality of these self appointed experts.
4. gone-to-colombia said...
Just read her Wiko entry, I guess she wrote it herself.
http://en.wikipedia.org/wiki/Sarah_Beeny
This is the woman who would have first time buyers shell out their life savings in a falling market. When will Britain wake up to the reality of these self appointed 'experts'.
5. doom&gloom said...
She's my favourite property pornmeister. hot and also seems to speak more sense than krusty on the whole.
6. mikedx said...
I can only think of a couple of reasons why i like beeny...
You can keep the rest
7. will said...
At least she accepts that it will be 10 years for prices to recover.
8. pelethar said...
Nothing wrong with anything she says. Calm down.
9. Davip said...
The game is changing though -- HMG have decimated income from savings and the threat of 'quantitative easing' will destroy capital as well as income through potential hyperinflation. A house (overpriced though it still is) is one of the few ways to protect what we've earned from the machinations of this govt.
10. Northeast Canuck said...
I've just read the full article and the brief synopsis here doesn't do it justice. She is actually talking a lot of sense. Things like if you're selling don't chase the market down, you have to realise that you have to reduce your asking price a lot, 125% mortgages were ridiculous and 1st time buyers should have a deposit, being able to borrow huge amounts on credit cards is unsustainable, etc etc.
I agree with most of what she says in the article.
11. need-a-crash said...
All her talk about 125% mortgages being crazy... Easy for you to say now Sarah, didn't hear you say much when you were selling thousands of people from my generation down the river with your LIES about property only ever going up in value!
12. Alan Lubin said...
i'd hit it.
13. ontheotherhand said...
She ducks the questions. She never answers whether first time buyers should buy now, and through the mechanism of using the word 'moving' she can later claim she never said now was a good time to buy.
14. maddison said...
Hey she was just following the trend like everyone else. For 10 years she was right. This year maybe not. Can you say for certainty she will not be right for another 10 years....
15. Poacher said...
I think she was always very straight about market realities: she always made it clear to people when they had only made a profit thanks to the rising market (as opposed to their own genius) and I seem to remember that when one or two had been rescued from their own folly by the final uptick in the market, she expressed surprise that their had been that final upleg (2005-2007). She made it clear that a flat or falling market would have crucified them, which for me was a tacit acknowledgement that the market wasn't a one way bet.
16. Herrbbiiee said...
I like her. She can come round my house and help me add another £10k of value with only £20k expenditure.
I almost forgot, I am renting... nevermind
17. a saver said...
It can't be the right time to downsize AND the right time to upsize...can it? Except for the fact that mortgages are ultra cheap and underwritten by the government in many cases.
18. wdbeast said...
To be fair, she never sold her sole to the devil.
She always pointed out that the reason developers made a profit was that it was a raising market, not their skill.
And yes I fancy her lots and lots and lots!
19. fjcruiser said...
She actually does not answer any of the questions. She obviously does not want to be pinned down for what she says. New programme perhaps ?
20. doom&gloom said...
The key to Beeny's advice in this article is 'buy/move if you already own a property', but don't try and jump on board as a FTB with little deposit. I used to watch Property Ladder recently, and I must defend Beeny (not just because she is hot & female): at the end of each programme she always said something along the lines of, "OK you're rubbish at property development, you spent lots of money unecessarily, but luckily we are in a rising market so you've still made a profit". She never said property would never go down, and that she'd eat her hat if it did.
21. mark wadsworth said...
Oh all right then, seeing as Little Professor can't be bothered...
22. doom&gloom said...
23. Tt1 said...
I like beeny, not because of the 2 reasons above but she usually talks sense.
A few comments on here obviously didn't read it or realise there was a 2nd page!
"The thing is, the situation now IS normal and how it should be. To think that getting back to “normal” means allowing people to run up £20k debts on credit cards and have 125 per cent mortgages just isn’t right – or normal."
"Buy-to-let has been seriously flawed since its introduction. The returns have been so poor for so long: people think five per cent is an exciting return and it’s just not."
Well said Sarah, all hail the boo....sorry, Beeny!
24. little professor said...
Ha ha mark, I guess that picture has stuck in your mammary, sorry, memory.
25. it_is_going_with_a_bang said...
"Hanging Gardens of Babylon"
Thats my input on this one....
26. drewster said...
Brings a whole new meaning to the term 'Beanie baby'
I agree with the others, Sarah has always been far more down-to-earth than Krusty. I have a lot of respect for Mrs Beeny (and not just because, you know...)
27. crunchy said...
Beeny's not taking any chances with the banks.
Bought some diamonds too!
Nobody ever suspected!
28. crunchy said...
It's unanimous HPC bloggers advise Beeny not to downsize.
29. Sadman said...
"Life just isn’t long enough to be hanging around five or 10 years waiting for the property market to recover"
Buy now and you can add 5 to 10 more years working off the debt, thats for sure.
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31. Hitman247 said...
im a professional property developer. i hate the fact in her shows she never mentioned tax expenses in the overall profit calculation.
32. plato said...
Just got in.......... Crikey!!!
33. gone-to-colombia said...
My argument is that Ms Beeny and her ilk are considered to be experts, newspapers give them space to promulgate their views, and TV stations air property porn hosted by these 'experts'. The truth is that they have no qualifications or special knowledge of the subject.
As for her frontage, I respectfully suggest that Ms. Beeny is just using this as a form of manipulation.
Seems to have kept quite a few watching.
I see these people as epitomizing everything that is wrong with Britain, they are the froth the country has become, but what we needed all along was substance.
34. luckyjim said...
last days of disco
What you seem to be saying is that we should regard our houses as assets (rather than homes) and be acutely aware of their value. So you don't like the idea of simply buying a house to live in ?
I agree it's noy a good time to buy but, if we follow this logic through, buying opportunities only come around every 15 years or so.
35. titaniccaptain said...
@wadsworth
Ive heard of property porn before but thats rediculous................any caroline flint in rubber while your at it?
36. Tt1 said...
Why was my comment not published?
It was hardly bullish, i'm a bear to the end (or bottom) as you'll see from my forum posts.
It does make me believe this site it to censored.
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