Tuesday, Jun 30, 2009
I think the houseprices going up is a sham!!
Reuters: GDP posts biggest fall in 50 years
the GDP data may raise concern that the economy is even weaker than previously feared.
Posted by mark @ 10:17 AM (582 views) Add Comment
2 Comments
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1. uncle chris said...
Of course it's a sham. There has been a massive and concerted media effort to bump start the whole economy through the housing market, and no doubt the "panicky sheeple" types have fallen for it. To be honest, I saw more than the usual "under offer" signs appearing on sale boards a couple of months back, but one by one these have recently started to be taken off. I assume that either (1) the buyers cannot find a mortgage, or (2) the sellers cannot find a buyer for their own homes.
I have to say that the more that the establishment stick their collective heads in the sand and pretend everything is alright, the longer and deeper the recession will be. Why not just accept the massive correction that is due and then start to rebuild things from there.
2. 51ck-6-51x said...
or/and lagging further than the GDP data? Probably both but definitely a contributor.