Tuesday, Apr 28, 2009
Looks like 60% falls then
Financial News Org: Housing Market Takes a Tumble
For weeks I have been reading 40% 40% 40% . CEBR 40% falls if approvals didn't double, now confirmation there is not enough money for approvals to double and if they did money would run out by the end of the summer . Moodys downgraded on "the assumption now is 40% falls" but they stress tested for 60%. The article about the BOE official warning Darling not to stop the property crash stated property down 21% from peak is still 40% overvalued. And now this article today:
"It now appears that an overall decline of close to 37% from their peak in 2007 is inevitable, with 2009 being the worst year,"
NOT TOO MANY GREEN SHOOT THERE THEN.
But what does this article mean when it says: "Currently the average costs of a home in the UK is around £55000"?
5 Comments
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1. Steve said...
I think the article has mistakes in it: hose should be house and 55,000 should be 155,000.
2. mark wadsworth said...
The article is full of typo's. That must mean £155,000.
3. Dead Spider said...
The article actually says , and I quote :
"Currently the average costs of a hoe in the UK is around £ 55,000"
I know where one can get a hoe for a lot less than that . They must be quoting prices for really high class hoe's .
4. crunchy said...
I am a mole and I live in a hoe.
Moleswell Hill, London.
The natural heating that an underground hoe gives you is blinding and dirt cheap if you burrow the money!
Well you would not want to put it in a "bank" would you!
5. deeplyblue said...
I found it difficult to take this particular piece seriously. The typos have been mentioned, but are almost trivial compared to the dreadful writing style.
Start with inanities, "There appears to be no arguing with statistics." Now anyone who has had ANY contact with statistics knows that there is always argument with statistics. Equations are rather harder to argue with, but stats ...
Someone hasn't worked out that muddled grammar usually reveals muddled thought.
"There appears to be no arguing with statistics, and the one that says that UK property values for 2009 will reduce by close to 20% as has been predicted." End of sentence, except that it isn't a sentence - it has no main verb or real content. Is S/he trying to say that this figure is wrong?, right?, unsupported by evidence?
I could go on, but you get the point. Sloppy writing is standard in forum posts, but even bloggers should be held to a higher standard than this if they want to get taken seriously - certainly in the vexed area of financial commentary. In these circumstances someone who can't be bothered to proof read what they have written - and spot the difference between 2.5% and 25% - should probably stay silent. And probably should do without the endorsement of notice in a respectable site like HPC!
db