Wednesday, Aug 26, 2009
Property Ramping And The Truth About The Property Market
The Economic Voice: Property Ramping And The Truth About The Property Market
A summary of a thread yesterday on the ramping that continues in our media and an alternative expressed by many on here view on the recent headlines proclaiming the end of the property crash.
Posted by titaniccaptain @ 11:22 AM (562 views) Add Comment
7 Comments
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1. Stop The Ride said...
I am certainly hoping this is correct. It is well reasoned but I would be more confident if the author could spell and punctuate.
2. This comment has been removed as it was found to be in breach of our Blog Policies.
3. icarus said...
This story was in Time magazine a few weeks ago. As I recall this woman was reported to be boasting openly about advising people to walk away from neg equity and then helping them to buy a cheaper (current market price) house. She claimed to be earning $100,000 a year, so it wasn't a particularly profitable scam for her. She was supposedly arranging for her her clients to obtain the mortgage for the second house and these clients were said not to be concerned about what happened to their credit ratings after what they'd done. The report didn't say why the credit rating went bad only AFTER they obtained the mortgage for the second house.
4. titaniccaptain said...
"This story was in Time magazine a few weeks ago".........eerrrmmmm icarus....you sure about that? I only wrote it last night.
5. alan said...
Yes TC, the BBC and The Times are desparate to ramp up property.
This may be because they have "VI friends", or they wish to sell more space in the newspaper for propert ads.
EAs want house prices to rise so that buyers come back in droves. B&Q want houses to turn over faster, 'cos thats when people do most decorating etc. Banks are desparate for property not to fall any more. among other reasons, this will give serious problems to those wanting to move house (hard if you fall into Nequity). Its all been said on this site by better analysts than me.
...oh, and Gordon wants to win the next election (phew, nearly forgot that).
6. Smiling said...
do the homeless on here count as 'vested interests'? (homeless meaning not currently owning homes, as opposed to sleeping in the park)
7. titaniccaptain said...
@Stop the ride
The author (Me) is I am afraid partially dyslexic....