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Tim Miller

Property Journalists Ramping

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I have just posted an article on the blog which will be up there soon. It's covering the treasury's new guidelines along with the FSA on mortgages. It's got proposals such as restricting loans to 75% of LTV etc, all good sensible stuff you would think. Not so, the journalist Anne Ashworth begs to differ, she writes that FTB's will be left renting for too many years.

It seems to me that whilst leading up to the inevitable crash that those amongst us who feared exactly what is happening now, could see that 100% mortgages and higher were just fueling the fire of ridiculous and damaging HPI. We knew it would end in tears, we new liar loans were doing the same.

I have noticed how many and I would say it's at least 95% of newspaper forums have readers stating prices are still too expensive. I do not know what percentage own their own homes, but it must be high in the quality papers. I did not see quite the same numbers as this in the last crash. Journalist surly read their own forums, they must see that what the online readers think. They can't all be BTL landlords or are they? Even if they are, surly they should be writing more impartial good advice. My question is this, Why do the vast majority of property journalists many for quality newspapers, keep ramping up the market?

http://property.timesonline.co.uk/tol/life...icle6675941.ece

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I have just posted an article on the blog which will be up there soon. It's covering the treasury's new guidelines along with the FSA on mortgages. It's got proposals such as restricting loans to 75% of LTV etc, all good sensible stuff you would think. Not so, the journalist Anne Ashworth begs to differ, she writes that FTB's will be left renting for too many years.

It seems to me that whilst leading up to the inevitable crash that those amongst us who feared exactly what is happening now, could see that 100% mortgages and higher were just fueling the fire of ridiculous and damaging HPI. We knew it would end in tears, we new liar loans were doing the same.

I have noticed how many and I would say it's at least 95% of newspaper forums have readers stating prices are still too expensive. I do not know what percentage own their own homes, but it must be high in the quality papers. I did not see quite the same numbers as this in the last crash. Journalist surly read their own forums, they must see that what the online readers think. They can't all be BTL landlords or are they? Even if they are, surly they should be writing more impartial good advice. My question is this, Why do the vast majority of property journalists many for quality newspapers, keep ramping up the market?

http://property.timesonline.co.uk/tol/life...icle6675941.ece

...their advertising revenue relies on it.... <_<

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...their advertising revenue relies on it.... <_<

I guess your right, I was just hoping a quality paper would print the truth of the matter, clearly not.

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I have just posted an article on the blog which will be up there soon. It's covering the treasury's new guidelines along with the FSA on mortgages. It's got proposals such as restricting loans to 75% of LTV etc, all good sensible stuff you would think. Not so, the journalist Anne Ashworth begs to differ, she writes that FTB's will be left renting for too many years.

It seems to me that whilst leading up to the inevitable crash that those amongst us who feared exactly what is happening now, could see that 100% mortgages and higher were just fueling the fire of ridiculous and damaging HPI. We knew it would end in tears, we new liar loans were doing the same.

I have noticed how many and I would say it's at least 95% of newspaper forums have readers stating prices are still too expensive. I do not know what percentage own their own homes, but it must be high in the quality papers. I did not see quite the same numbers as this in the last crash. Journalist surly read their own forums, they must see that what the online readers think. They can't all be BTL landlords or are they? Even if they are, surly they should be writing more impartial good advice. My question is this, Why do the vast majority of property journalists many for quality newspapers, keep ramping up the market?

http://property.timesonline.co.uk/tol/life...icle6675941.ece

1. Because they have BTLs and weekend cottages/holiday homes.

2. Because they can.

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I guess your right, I was just hoping a quality paper would print the truth of the matter, clearly not.

...there are no quality newspapers anymore...maybe the Independent is the nearest....consequently there is a gap in the market ...now there's an opportunity..... <_<

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As a hack myself, I'd say that a lot of journalists are probably lured more than most by the idea of money for nothing, hence the love of HPI.

Creative types generally don't earn much, and journalists have historically been slighty shabby types in threadbare tweeds, but HPI means they can MEW/downsize and be on a level with the bankers etc on their dinner party circuits.

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As a hack myself, I'd say that a lot of journalists are probably lured more than most by the idea of money for nothing, hence the love of HPI.

Creative types generally don't earn much, and journalists have historically been slighty shabby types in threadbare tweeds, but HPI means they can MEW/downsize and be on a level with the bankers etc on their dinner party circuits.

Pitchforks to the hacks!

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As a hack myself, I'd say that a lot of journalists are probably lured more than most by the idea of money for nothing, hence the love of HPI.

Creative types generally don't earn much, and journalists have historically been slighty shabby types in threadbare tweeds, but HPI means they can MEW/downsize and be on a level with the bankers etc on their dinner party circuits.

I think they were much better in the days when the drank like fish and chain smoked. Too much hair gel nowadays.

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I think they were much better in the days when the drank like fish and chain smoked. Too much hair gel nowadays.

Do you have any idea how hard it is to chainsmoke these days?

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:lol:

Anne Ashworth, Feb 2008

http://property.timesonline.co.uk/tol/life...icle3325824.ece

Housing market slowdowns share certain common features, but the downturn of 2008 is producing some new phenomena. To date, the most marked of these is bizarre fury generated in some quarters at statistics showing that prices are stagnating rather than slumping.

This week Halifax reported that prices were unchanged in January; these statistics followed Nationwide data which revealed a decline of 0.1 per cent.

Both surveys provoked vitriol from the vocal minority that has been wrongly forecasting a crash for the past few years and now denounces any research that might thwart their hope that their dream is about to come true.

This pro-crash lobby accuses the economists at Nationwide and Halifax of publishing figures that give a falsely optimistic view. Journalists who report these numbers are deemed to be either mouthpieces for lenders or determined to support the value of their own property investments. The motives of this online fraternity that longs for the human misery produced by a market collapse are a mystery. Perhaps they hope that if they spread sufficient gloom, their rantings will become a self-fulfilling prophecy?

If so Anne, you should know better by now than to mess with us.

Edited by Cogs

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:lol:

Anne Ashworth, Feb 2008

http://property.timesonline.co.uk/tol/life...icle3325824.ece

If so Anne, you should know better by now than to mess with us.

Amazing quotes. So the hard facts of prices now being higher than at the height of the last boom are just bears being ...........well bears. LTV ratio's are out the window then and the banks not leading a mere inconvenience at best. So this fear of unemployment is not worth worrying about and the QE repayments over the next 20 years a triviality. No needs to worry about bankruptcies either, well thank God that's cleared up, I'll roll over and go back to sleep now, night night. Phew, I was really worried for a brief moment! One sheeple, two sheeple, three sheeple, four.............

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Amazing quotes. So the hard facts of prices now being higher than at the height of the last boom are just bears being ...........well bears. LTV ratio's are out the window then and the banks not leading a mere inconvenience at best. So this fear of unemployment is not worth worrying about and the QE repayments over the next 20 years a triviality. No needs to worry about bankruptcies either, well thank God that's cleared up, I'll roll over and go back to sleep now, night night. Phew, I was really worried for a brief moment! One sheeple, two sheeple, three sheeple, four.............

Exactly the type of monotone thinking David Smith exhibits; no reflection at all of the titanic wider financial issues.

Anne wrote this whilst Smith whispered 'pretend and extend' in her ear.

We really do need a Rampers hall of shame thread, stuff like this needs highlighting in future years.......Mods?

These hacks are running scared and in the most part show an unnerving ability to ignore key economic factors when wrting this bilge or are just completely naive about what is going on. The former probably. (Liam Halligan excepted)

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...there are no quality newspapers anymore...maybe the Independent is the nearest....consequently there is a gap in the market ...now there's an opportunity..... <_<

Sadly this quality paper would not have to rely on property advertising or any form of advertising.

However the likes of J.Clarkson never stops dissing cars in his reviews, but this never deters the advertisers, and I suspect manufacturers fall over themselves to supply cars for review. Assuming Clarkson actually drives the cars and writes the reviews that is!

Edited by HostPaul TAFKA Rover2000

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Amazing quotes. So the hard facts of prices now being higher than at the height of the last boom are just bears being ...........well bears. LTV ratio's are out the window then and the banks not leading a mere inconvenience at best. So this fear of unemployment is not worth worrying about and the QE repayments over the next 20 years a triviality. No needs to worry about bankruptcies either, well thank God that's cleared up, I'll roll over and go back to sleep now, night night. Phew, I was really worried for a brief moment! One sheeple, two sheeple, three sheeple, four.............

What I was really thinking was its interesting that Anne is 'mystified' by HPC (circa Feb 2008, because I'm pretty sure it is us she is referring to) and all she can imagine is that the analysis and views expressed were deliberately designed to create a self-fulfilling prophesy.

I think that says more about how she sees discussing the property market than ourselves.

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Ive just put my comment in the 'have your say' section.

A gold star to anyone who can identify which is my comment (assuming it isnt deleted for being too harsh!)

There were so many 'Anti Anne' comments I could not guess which was yours. I added my second post. I was very surprised to see how many comments were against what she writes.

Edited by Tim Miller

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Anne is just trying to stop the tide coming in and demolishng her sandcastle. She represents a vile aspect of human nature that wants others to lose at her - and her 40-something readers' - gain. She is ignorant and wilfully self-interested, vain and blinkered. And the Times has not been a quality newspaper for years.

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There were so many 'Anti Anne' comments I could not guess which was yours. I added my second post. I was very surprised to see how many comments were against what she writes.

I replied to Carl, see below

So where are the lower priced houses going to come from? Building has stopped, so the only houses available are the ones already owned. And they have negative equity already....

Carl, Bristol,

Carl

Some people are in negative equity due to paying over the odds in the last few years. A mortgage is a commitment to 25 years of payments, not a passport to riches you fool.

The lower prices will come from either repossession or lenders allowing vendors to port negative equity.

Stay lucky

Nick, Midlands, UK

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VI nonsense that can safely be discarded.

Edited by pl1

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My gambit:

Oh and burden each young generation with a ever bigger bill for housing; avg house price 2050 £1million....or do you just want it to stop when you get off Anne?

She is ramping the biggest pyramid scam ever, expecting more naive souls to get on and bail out others; well it ain't going to happen!!

Its Macro economics, Harrogate,

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Some good Bear comments post article, although is this all us lot?!

I sincerely hope the bear comments are all not from us, I hope 99% are from Joe public.

What gets me is that back in February's Anne's article on us bears and I presume it's on this site HPC are criticized at all. What exactly are we doing wrong by wanting lower prices from a level of utter madness? Is it our fault prices of homes got totally out of hand? We warned of the misery to come, we were derided for it then as well as now! Are we to blame for the economic mess? Was it not the bears that begged the government to wake up and put a stop to bad practice before the inevitable happened! I know I was posting long before the crash actually happened that it would happen in some papers.

The big joke is I was in property albeit more commercial, but you do not need rising prices to make money in property if your a professional. The banks will not lend if you are banking on your profits coming from HPI. I said from day one, BTL mortgages were going ruin the market and thus peoples aspirations of owning their own home.

I trust I am like minded with so many here. I do not want to spend so much of my income and life paying a high mortgage. It's not just my life I want improved, it's everyone's. I said it many times, I do not have kids of my own, but most of all I worry for FTB's.

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Most of the comments on most of the property articles that I read these days are by people who expect prices to keep dropping and think that this is, on balance, a good thing. They can't all be us, can they?

Or could it be that the views of hpc.com are now mainstream and it's the property journalists who are out of touch!

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I sincerely hope the bear comments are all not from us, I hope 99% are from Joe public.

What gets me is that back in February's Anne's article on us bears and I presume it's on this site HPC are criticized at all. What exactly are we doing wrong by wanting lower prices from a level of utter madness? Is it our fault prices of homes got totally out of hand? We warned of the misery to come, we were derided for it then as well as now! Are we to blame for the economic mess? Was it not the bears that begged the government to wake up and put a stop to bad practice before the inevitable happened! I know I was posting long before the crash actually happened that it would happen in some papers.

The big joke is I was in property albeit more commercial, but you do not need rising prices to make money in property if your a professional. The banks will not lend if you are banking on your profits coming from HPI. I said from day one, BTL mortgages were going ruin the market and thus peoples aspirations of owning their own home.

I trust I am like minded with so many here. I do not want to spend so much of my income and life paying a high mortgage. It's not just my life I want improved, it's everyone's. I said it many times, I do not have kids of my own, but most of all I worry for FTB's.

Exactly Tim, what is better to owe a bank 60k or 160k against your house?!

As you say I am so angry that vested interests like this keep trying to con the naïve into thinking that they should buy into their pyramid con.

My age group 20-30 are up to their necks in debt as it is but all we here from mainstream media is that we need HPI for the good of the economy. It really does anger me this short sighted and frankly selfish view.

Surely what we need is a workforce that is not shelling out ever increasing amounts for housing. We are in a global economy and if our workforce needs more and more cash to pay back to banks to live in a house what does that do to the long term viability of our economy?!!!

You can tell a HPI article a mile off by its unwillingness to address wider economic issues.

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Most of the comments on most of the property articles that I read these days are by people who expect prices to keep dropping and think that this is, on balance, a good thing. They can't all be us, can they?

Or could it be that the views of hpc.com are now mainstream and it's the property journalists who are out of touch!

Contact David Smith at the Times with this viewpoint; he will love it!

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