Sunday, May 30, 2010
Assetz on top form
Express: HOUSING SHORTAGE SET TO REPRISE THE MARKET
House prices are set to return to pre-credit crunch levels as early as next year as a result of the continuing nationwide housing shortage, figures to be released tomorrow indicate.
Average UK house prices for April are just 6.7% off their 2007 peak and are expected to recover as early as March next year, according to the Assetz House Price Watch, which compiles monthly average figures taken from five of the major house price indices.
Stuart Law said "The 6.7% is next to nothing. Housing never took the hit people thought and those that panicked lost out. "
Posted by little professor @ 06:07 PM (1643 views) Add Comment
8 Comments
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1. becky said...
Hang on a minute.
"The recovery of the housing market comes from a lack of supply bolstered by a dearth of building projects amid a tough economic climate, said Assetz chief executive Stuart Law"
But just underneath we have
"Within a week of HIPs being suspended on May 19 the number of new properties coming on to the market increased by 34 per cent, according to estate agency Countrywide."
2. jack c said...
Our Comedy Club Chief Stuatz has been fairly quiet of late but now we have a nice picture of him in the express with the caption "Bullish views" - Stuart Law, surely this is a misprint and should read "Bullsh*t views"
from the article "The British Bankers’ Association last week reported that mortgage approvals for house purchases increased to 35,729 in April from 35,044 in March" - thats a wopping 1.954685538% increase in one month and Stuarz sir you once again have my sides splitting.
3. markj69 str05 said...
@2..JC.. House purchase increased activity does not reflect what's happening to actual house prices. If anything, the more acivity in time like these surely means there are better purchases to be had?
Stuart Law is an ass. If he can live with his conscience, then so be it. Karma - what goes around comes around. Screwing so many people, and mis-leading them into the actions they take (And this applied to any VI bull5h1ter), can only lead to a life-time of misery. Oh... I wish , I wish, I wish.
4. quiet guy said...
"Stuart Law is an ass."
Unfortunately, I suspect he's made quite a lot of money and it's time we acknowledged that his bullish predictions over the last decade have been more right than wrong so far although I've never seen him acknowledge that central banks have socialised private losses to protect borrowers.
From the Assetz website:
"Rather than invest in one or two properties directly, Assetz Fund Management believes that a spread of investments via a number of diversified property funds with an entry level from just £5000 each, provides the investor better diversification, an expert fund management team and provides the opportunity to invest a proportion of assets into property."
It's not his money on the line. He charges his clients a fee to help them invest their money in property. When the market corrects, his clients will get burned and he will walk away with his management fees in his pocket.
If you ask Law if it's a good time to invest using Assetz services, you know what the answer will be.
If you ask your barber if you need a haircut, you know what the answer will be.
5. markj69 str05 said...
@4. qg... I couldn't agree more. But he's still an Ass, IMO.
6. gone-to-colombia said...
Utter B0llocks
7. This comment has been removed as it was found to be in breach of our Blog Policies.
8. mark wadsworth said...
Either there is a 'national housing shortage' or there isn't.
If there is, then we ought to be building more. If the price of any other commodity went through the roof, e.g. wheat or oil, then governments would encourage/allow production of more wheat or oil, surely they wouldn't order half our fields to be left fallow or ban more exploration in the North Sea.
If there isn't, and it is just the case that housing is woefully and wilfully misallocated, then Land Value Tax would sort it out.
Or, go on the safe side and do both, of course.