Monday, Mar 08, 2010
Husband of Tories "housing adviser" makes a noise by opening his mouth!
Telegraph: Phil Spencer: Sell now, buy later – and cash in on a dip
Property guru Phil Spencer tells Graham Norwood that homebuyers could pick up a bargain after the election .
Posted by flintster1994 @ 01:03 PM (2622 views) Add Comment
24 Comments
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1. fjcruiser said...
I thought the property guru consultancy firm had gone bust ?
2. taffee said...
yep...there's certainly loads of 'bargains' out there....cheap as chips
3. mark wadsworth said...
Phil is not actually Krusty's husband. But he always was the more sensible of the two.
4. This comment has been removed as it was found to be in breach of our Blog Policies.
5. the number cruncher said...
I've met Phil, briefly, in my professional capacity and he is a really nice bloke, although I have not discussed his business, only mine.
My associates who have had dealings with him say he really is very nice and honest. He really believes what he says, but lets face it, he is not an economist and he has about as much an idea of our long term macro-economic cycles as my pygmy goat.
6. Xelon said...
Seems to believe what he is forecasting, although lost a bit of credibility for me due to his assumption that prices will dip for a very brief period after the election then rise about 3 - 4 % y o y from 2011. I believe the financial pain and debt burdon will still be holding back the economy past 2015, so that predicted rise would seem overly ambitious to put it mildly.
7. Crunchy said...
'Sell now buy later.' Even nicey Phil is covering his assets.
How about much later Phil.
8. jack c said...
Here we go again with more advice from a man who's property company went under ! - those that can do and those that can't end up as TV personalities or advisers to the Government. Interesting how you currently need a licence to advise on a £20 per month ISA but no such requirement for 6 figure+ sums in respect of property.
9. timmy t said...
I don't understand why papers publish this drivel. He is saying sell now because prices are going to fall - So why is the woman in this article saying they will only be taken seriously as buyers if they are selling? Is the house they are moving to somehow going to escape the market dip they are forecasting? And what are the logical consequences if everybody believed this...
a. Everybody puts their house on the market and prices go through the floor,
b. Nobody will want to buy if the market is going to fall, in which case the people he is advising to sell won't have buyers.
I seriously question how anyone can get paid for writing this tosh.
10. taffee said...
all we need now is for grant bovey to launch a new enterprise and we're off to the races!
11. mark wadsworth said...
You've got to admire Uncle Phil for saying this though:
“There was a time when people made more money from watching their home appreciate than from doing their job. That’s mad. People should go to work primarily to make money, and buy a home primarily to feel secure.”
12. jack c said...
@ mark wadsworth - in 5 years he might be saying "There was a time when people losts loads of money sitting at home watching their house depreciate having also lost their job"
13. Juvenal said...
"We want the next few years to be boring"
They will if this bloke keeps airing his banalities in the paper.
14. Sibley's Love Child said...
But most of all, be quick: “If you want to sell, do so now to avoid missing the boat.”
Oh, the irony.
15. smugdog said...
Or, in 5 years he might be saying "There was a time when people lost loads of money, after selling their houses, sitting on piles of cash, only to witness the cold hard wind of inflation carry it all away"
16. a saver said...
jackc said Interesting how you currently need a licence to advise on a £20 per month ISA but no such requirement for 6 figure+ sums in respect of property.
Couldn't agree more, it's amazing how fearlessly people jump into a huge debt to buy a house. Houses should come with a warning that the value of your property can go down as well as up.
17. fallingbuzzard said...
@10,@11. Or, "There was a time when everyone lost loads of money. Some sold their houses, sat on piles of cash and watched the wind of inflation carry it away. Those that didn't sell saw the value of their house stagnate and some of these sat on piles of debt and watched as borrowing rates ran ahead of disposable income inflation."
18. estrader said...
@11 Smugdog, I often think you are here looking for investment advice, wondering where people put all their money if it isn't into UK property ;)
19. estrader said...
@14 Further to my comment:
So far, I have benefitted from Inflation, £devaluation and rising asset prices and I haven't gone into debt to do so. And there you have it.
20. This comment has been removed as it was found to be in breach of our Blog Policies.
21. vacuouspolitician said...
"Or, in 5 years he might be saying "There was a time when people lost loads of money, after selling their houses, sitting on piles of cash, only to witness the cold hard wind of inflation carry it all away"
lol.
Jar Spoon Spoon Jar
22. vacuouspolitician said...
On the ball - nice one estrader.
A fine example of not following the herd.
23. Reluctantgambler said...
#21. Or, alternatively, in five years he might be saying: 'there was a time when people wasted hours watching silly, spoilt little g1ts while they fretted tearfully over whether they could cope with dividing their time between a country mansion which only had six acres and stabling for two horses and a town pied a terre which had dodgy wallpaper. Now the same viewers are all rolling around the floor watching my new show in which silly, spoit little g1ts with multiple homes fret tearfully over whether being cleaned out by the bank will leave them enough for a prefab in Chavtown. It's called ''Confiscation, confiscation, confiscation.'' '
I can hope, can't I?
24. Reluctantgambler said...
#21: .... or perhaps even 'Ruination, Confiscation, Jubilation.' Peak time schadenfreude. A bit base, perhaps, but rather more edifying than watching Mr and Mrs Gormless-Twit agonising over whether they could bring themselves to live in a less-than-perfect house. My GOD! The place has plastic laminate flooring! Our lives are OVER!