Thursday, Sep 02, 2010
Beeb finally acknowledges the inevitable
BBC news: House prices fall again in August
In a short and desultory article, the beeb finally acknowledges that property is not a one-way-bet. They'll be desperately hoping that the Halifax figures say something different.
Posted by paul @ 08:17 AM (1627 views) Add Comment
12 Comments
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1. str 2007 said...
Wait until the Boss gets into work and has that junior FTBer change their headline to 'Rate of House Price Rises soften Slightly due to Holiday Season'.
2. mark wadsworth said...
Rejoice.
3. Rantnrave said...
Biased bit of journalism here - house prices declined in the third month, to leave the quarter as "stagnant". Had the reverse been true (ie house prices been flat through a fall at first and then a rise in the final month), no doubt the headlines would be celebrating the rise.
4. little professor said...
5. thebulltrap said...
"We do not expect two months of consecutive declines to be the beginning of a sharper downward price trend. The market is simply readjusting after getting ahead of itself. The market is stabilising, not collapsing."
Really?
6. Crunchy said...
3. little professor
Could you please refrain from the misleading and tantalising practise of loading charts upside down to appease the proles.
Houseprices have surely bottomed out and prices are heading for the stratophere once again rent boy.
Regards, a very angry.
Mr Rentotrap.
7. mark said...
the graph looks like it is falling off a cliff
8. mken said...
whatever happened to Fionnuala Earley?
9. Jayk said...
What an strange comment by the OP. The BBC does not finally acknowledge the house price drop, it reports when indices show a rise and reports when they show a fall. This isn't the first time the BBC has reported a negative monthly figure from one of the market watchers (it did it last month too, so why talk as if this is a first?). Perhaps people like you should finally acknowledge that the oft-predicted massive falls never happened, and that prices have remained resilient after the rather modest falls of 2008.
I remember being told in early 2008 by "experts" on this site that by this year the average house price would be under half their peak, oil would be at $300pb, and interest rates would rocket past 20%. I was attacked for dismissing all of these claims. Those like me who also said house prices would recover or stabilise after 2008 were mocked mercilessly and told it would be all the way down to the gutter for years and years. We were right, you were wrong.
You can spend year after year after year making the same predictions on prices; eventually you'll be right simply by accident. For instance, I confidently tell you now that house prices are going up 10%. And, at some point years in the future when they hit a figure 10% above the current average, I can come back here and say: "See! I was right all along! House prices are rising".
10. mr messy said...
dont believe it, wake me up when it happens
11. Jonboy2010 said...
YES YES YES
12. This comment has been removed as it was found to be in breach of our Blog Policies.