Monday, Feb 22, 2010
De-bunked: London and SE does not fare well when prices crash
LoveMoney.com: The biggest house price myth
I've frequently heard this: London is largely immune to house price crashes because foreign buyers and City bonuses will keep up demand. It seems to make sense, and possibly it has been partly true in the last couple of years, but the evidence refutes this myth. In the 1990s, London and the South East fell further than the average, and the same has happened again this time. That said, these same areas seem to rebound faster. I guess there's just more variable demand - they have more volatile prices.
Posted by notyethomeless @ 05:34 PM (2686 views) Add Comment
2 Comments
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1. monty032 said...
Well done for using the word "refute" correctly, as in "disprove by producing overwhelming evidence". People who should know better such as Daily Telegraph writers use it these days as a synonym for "deny".
From the Telegraph style guide:
refute does not mean deny or reply to. It means disprove, and, therefore, means the writer has decided who is telling the truth. Rebut, for similar reasons, is best left to the lawyers.
I agree with you and Cliff D'Arcy, but quoting economic statistics doesn't seem to make the madness end any sooner. It has to be left to run its course.
2. Landedgentry said...
I remember when they said Dubai would never crash because of it's tax free status.