Thursday, Apr 02, 2009
Law charged up by the Nationwide
Assetz: The House Price Recovery Is Here - Make No Mistake
I decided to have a look at assetz to see what Mr Law says about the Nationwide March reported. I wasn't disappointed. "Make no mistake, the house price recovery is here and savvy cash buyers have been purchasing in volume from us since around November ... The next big phase of this market will be the first time buyers coming back in high volume - don't be fooled by the withdrawal of 100% mortgages, the average first-time buyer put down a 10% deposit two years ago and I would hazard a guess that parents would subsidise them even greater if necessary (sic) to take advantage of current pricing."
Posted by quiet guy @ 05:58 PM (2073 views) Add Comment
19 Comments
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1. amjidk said...
LOL, we will see in the next few months!! if anyone falls for today's nationwide report, they deserve to lose money, as the crash continues..
2. sold out said...
yes Mr lawz a rise of 0.9% in one month and suddenly its all over.
Your comments only re inforce my belief that you are a complete fool.
3. techieman said...
A couple of me old posts:
7. techieman said...
I agree this could be sowing the seeds for the bull trap. And IMO this will be the difference between this and the other crashes. The prices will as UT states "over-correct" - although where that is is perception, then bounce then suck in a few players (its all over etc) then fall again. Thats when people will say "never again" and the myth of property ALWAYS rising will be villified..... at least until the next time.Monday, August 4, 2008 09:47AM
17. techieman said...
is Patrick Bateman an anagram of Greenbay? No of course not - Patrick Bateman - hmm isnt that the name of the main character in American Physco? And he's referring to us as nutters? Hmmmm read the book and you will never buy Gorgonzola again.
Of course if "Mr Bateman" would like to come on here i would very much welcome reasoned argument for any bullish position, infact where are those bulls? Silly me we have to wait for the DCB before they raise they heads above the parapets.Sunday, March 30, 2008 01:39PM
Its a bull trap stuie .... will you be caught? [to the tune of rat trap by the boomtown rats].
4. Jimmylad said...
One swallow don't make a summer
seems like the whole world needs bailout money cos the housing pyramid scheme is over & companies are going bust cos people cant spend their re mortgage money ( that they have been used to getting every2 or 3 years) on new cars & holidays etc.
I don't trust anything the government, BOE, & general media tell me either
Whats the biggest money spinner of all ?? Lending money. ( Money that is created out of thin air or a few clicks of a mouse & should cost virtually nothing to borrow cos it costs nothing to make really)
What is the most expensive thing the average joe buys ?? A house. A house with borrowed money.
Now we know why they want to keep house prices rising & will risk anything to keep it going.
Look at the graph on the home page & tell me they will rise again in the next 10 years
5. new user 2007 said...
"In January that the best of distressed house prices had probably already been seen late in 2008."
He clearly thinks that everyone who loses their jobs will not be distressed. (The main source for people already over-mortgaged is actually the second income earner/ part time one...that is where there is no margin for error.) I wonder if was actually around in the early 1990s, when the situation was actually better in terms of the economy (Japan and the US prove that interest rates are not the only indicator of house prices!)...prices rose sometimes too over 4 years, but the trend was clear!
6. new user 2007 said...
Techie...
he does not care if house prices crash, merely that people risk their money through his company i.e. a no lose proposition (as long as one does not care about sleeping at night by peddling false house price rises).
7. Lesplaces said...
Or could it be that you Bears are all in denial to the same extent all the bulls were at the top of the market !!. Only time will tell but you don't see people switching off from Relocation Relocation - why ? Because we are a nation obsessed with poperty. The media have worked out that they are now selling more papers when they print positives - do not underestimate the power of the media to effect logical outcomes !
8. Rayvonyo said...
Sold out said, this is not the first sign of recovery. It has been said over the last few months that buyer interest is returning and Estate agents have loads of new people on their books. Halifax also recorded a rise in house prices a couple of months ago.
Yes its too early to say the market has bottomed out but IMO there is no doubt that if you can get a mortgage then now is the time to buy before you get caught up in a bidding war with everyone else when the bottoming out of the market is confirmed.
9. jackas said...
He treats his readers like idiots.
W*nker.
10. doggett said...
You'd think that "The House Price Recovery Is Here - Make No Mistake" pretty much tells you what Law's opinion is. Daft but definite.
However, he concludes a later post ("Moving on up?") with "All of this would indicate that any recovery that is starting now may have a long way to go, which of course might be expected. But if that means there will be a long period of price rises to come, now may be a good time to invest. And if this recovery excludes first-time buyers at first, those investing in rental property may find themselves enjoying increased demand as a result."
He seems to be hedging his bets somewhat. Lots of 'if's and 'may's there. Perhaps he's weakening?
@ quiet guy
In your post comment you quoted Law as saying "I would hazard a guess that parents would subsidise them even greater if necessary (sic) to take advantage of current pricing."
What's that '(sic)' for ?
11. stillthinking said...
I think a lucky few were being subsidised by their parents, but a lot of parents were acting as guarantors, putting their own houses down as security. From my own work group, two people under 30 who panicked got respectively an uncle and a step-father to guarantee 50% of their mortgage debt.
Parents and relatives have a lot of skin in the game.
12. Pothelo said...
This muppet predicted prices to rise 8% over 2008. The time to buy will be when Assetz has gone out of business!
13. quiet guy said...
@doggett
'Sic' is intended to emphasize that the text is quoted literally i.e. in this context, it was not my mistake. (http://www.answers.com/topic/sic-2)
I think the phrase "parents would subsidise them even greater if necessary" is poor grammar. 'Greater' is an adjective that doesn't fit. Parents might subsidise more or more greatly than before or subsidise greater amounts than before.
I know this is picky and I make lots of mistakes but I'm not writing press releases as CEO of a company touting for business.
If you disagree, perhaps I should write my blog comments greater?
14. mander said...
Comedy club is back, nevermind banks like B&B are bankrupt.
15. doggett said...
@quiet guy
I don't think you were being picky; the use of 'greater' was irritatingly ungrammatical. It's just that placing 'sic' later in the sentence made it unclear what you were referring to. Didn't mean to offend, and, if I did, I apologise.
16. quiet guy said...
@doggett
No offence taken. I've made an ass of myself too many times before by sloppy composition for that! I see what you mean about the placing as well.
17. sid public said...
So the fight is back on.... genius!
18. Davros said...
Please can these guys go out of business?
19. george monsoon said...
I Wonder what the average IQ of an Estate Agent is?