Wednesday, Sep 30, 2009
Prohpets of Doom declared wrong.
Express: HOUSE PRICES UP BY £10,000 IN 6 MONTHS
"Experts said the rise proved economic “prophets of doom” wrong"
Just you wait. Mwuahahaha
Posted by phdinbubbles @ 12:56 PM (1606 views) Add Comment
12 Comments
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1. growler said...
conducted by "property price website Zoopla"
believed by Lawless
Enough said.
2. timmy t said...
"The pledge was made as figures showed that the UK’s entire housing stock had recovered a quarter of the value lost as house prices fell, according to property price website Zoopla."
Someone should show Zoopla the lifecycle of a bubble chart!
3. Mark said...
Prices where we are have recovered more than 50% of their losses. There are so few properties on the market at the moment.
4. Loneranger said...
There are only two words we need to consider when questioning the validity of this article, 'Lawless', and 'Express'.
...here, endeth the lesson : )
5. smugdog said...
It's the kind of stuff the "smarter" Mr Average will believe and feed on.
6. mrflibble said...
Oh dear... We've all missed the boat... Look... There she goes... RMS Titanic...
7. alan said...
At this stage in the cycle there are all sorts of predictions looking upward and down. I read the Moneyweek article and felt the advice was worth following. Its already been posted here.
8. will said...
Stuart Law sounds like another Phil Spencer to me - IMO.
9. will said...
If the 'prohets of doom' are being proved wrong then why do they feel the need to mention us at all? and why would any property bull visit this site?
10. mark wadsworth said...
What PhD says :)
I like this bit best: “The value of the total residential housing stock in Britain now stands at £5.25trillion, up by £250billion from its recent lows in March of this year, when it fell below the £5trillion mark for the first time since February 2005,” said Alex Chesterman, Zoopla’s chief executive.
There are (say) 27 million homes, which includes five million council houses, for his total to be correct, the average value would have to be £194,000, which is patently untrue (Haliwide both say about £160,000, HMLR says about £155,000).
11. icarus said...
mark w - An ONS report "UK worth £7 trillion", October 2008 put the total value of UK housing at £4.3 trillion in 2007, before the HPC; on that basis you're right - Zoopla's estimate is too high. If ONS is right current value is under £4 trillion.
12. Rich K said...
The only logic here is if housebuyers had access to a money printing press and wads of free cash. Funnily enough, I think they call it The Treasury using a monetary easing process.
We saw the innocent skinned in the crash, now we will see the idiotic skinned. After all, it is a "buyer beware" culture and they have all been warned.
Sit back and watch the impending disaster! Lets get the money of the idiotic and distribute it to the smarter people who can found a real economy based on wealth production, and not based on a conspiracy to defraud the public by pumping up a bubble.