Monday, Jul 19, 2010
The children are scribbling again - attempted VI brainless drivel
Yahoo Biz: Five reasons not to panic over house prices
Despite so much negativity over the past week, there is also some cheery news to be found if you look beyond the headlines. Honest!
Posted by montesquieu @ 03:52 PM (1561 views) Add Comment
10 Comments
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1. montesquieu said...
Hmm, it seems the dozy bint has forgotten what she wrote last week:
http://www.dailyfinance.co.uk/2010/07/13/house-price-slump-could-last-a-decade/#continued
2. mark wadsworth said...
The article baldly claims that "the housing industry supports many families up and down the country, directly and indirectly."
Can anybody decipher that for me?
3. gone-to-colombia said...
Facile blather for the simple minded
4. righttoleech said...
mindless drivel.......but then again 'house prices like the stockmarket'........not only is that how the morons see it.....but they have still not got to grips with the fact that the FTSE is still down after 11 years......and the Nikkei is a quarter of it's 1987 peak......so it could just be a disaster looming.
5. Confused said...
Another request for clarity:
From the article:
"It’s also worth remembering that the only price index to give the actual prices paid and officially registered, is the Land Registry’s own house price index. Unfortunately it lags behind the others because it takes a while for that process to be completed. So its latest figures -- for May -- refer to offers made around February time."
I thought that the point of the LR's index is that it's actual sold prices. Not offers. To that end, May's figures refer to sold prices for transactions completed in May....
Or have I got the wrong end of the stick?
6. Hp Watcher said...
haha this made me laugh, lets go through the five reasons
1. One of two indices say prices have gone up by a minute amount so regardless that most other indices say they have gone down prices might still be going up. lol.
2. Ignore the current down turn, if you look at the quarterly results that haven't yet taken into account the recent drops it looks like prices are going up. haha
3. Companies haven't changed their yearly forecasts that they make at the beginning of each year, even though most said HP would be level, and as they have gone up that means they are due to drop so that's why they are saying they are still in line, but why don't you ignore that lol.
4. The stats lie when it shows house prices are going down but are true when they go up, no wonder people think house prices only go up.
5. A pretty much admission prices are and will go down.
7. drewster said...
Mark Wadsworth,
Presumably they mean the construction industry. House price falls generally mean less construction activity, ceteris paribus. That has certainly been the case in the USA.
Personally I think they have a point. We've seen something of a decoupling between the North & South in the property market. I don't think it will last though.
8. tenyearstogetmymoneyback said...
drewster wrote "Presumably they mean the construction industry"
Somehow I doubt it. The real money is made by the estate agents, banks, BTLers, BTL get rich quick companies, TV companies making programs about property development etc. Actually doing something useful with a cement mixer is just the first foot of the iceberg.
9. uncle tom said...
Loved this bit:
"House prices.... do not go uniformly up and down all of the time. They fluctuate."
- Err.. yes.. sure..
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