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eric pebble

Absolutely Shameless Property Ramping By The Bbc

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Please allow me.

You are a VI doom and gloom ramper.

It's all gone pear shaped and you have started to realise you're not getting a 90% off 2007 price house.

You can choose. Try and get a bargain now while they are about 10% off, even though the houses for sale aren't the pick of the crop. Or option 2, save a deposit and pay the going rate for a nice place.

We didn't have a crash. Nice try for ramping one up but homeowners didn't allow it to happen.

You cannot allow yourself to see where this is going, and why this is very bad for you. Don't worry, you are in the majority, and don't it feel good! Me and mine don't give a toss about you either.

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Words defeat me.... :angry: :angry: :angry:

http://news.bbc.co.uk/1/hi/business/8193467.stm

The BEEB should allow public comments, like the newspapers do.

This is a totally one sided report, and should allow comments for balance. I don't believe a word from these EAs. And encouraging people to get into debt or use mum and dads money, just to see deposits, etc, vapourise as prices will surely fall significantly.

This is irresponsible reporting.

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The BEEB should allow public comments, like the newspapers do.

This is a totally one sided report, and should allow comments for balance. I don't believe a word from these EAs. And encouraging people to get into debt or use mum and dads money, just to see deposits, etc, vapourise as prices will surely fall significantly.

This is irresponsible reporting.

Having just caught the run down for this morning looks like they might be using the whole morning as a property roadshow making the case for them going up on low volume. I think even the sheeple will get a little uncomfortable with the messages they are getting atm.

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Words defeat me.... :angry: :angry: :angry:

http://news.bbc.co.uk/1/hi/business/8193467.stm

It doesn't take much to read through this though, and the underlying story is that this mini-boom is entirely driven by buyers who have access to large amounts of cash to raise a deposit. The banks aren't changing their criteria in terms of deposit, multliples and valuations, so once the small amount of very silly parents who are able to supply these kinds of sums of money dry up, then it will be back to normal.

I wouldn't normally say this, as he can be worth having round for entertainment value, but he is so boring in his mindless ramping, can't we ban Sibbley? He's a prat with nothing of value to say, if he supplied sound economic arguments as to why he feels the market is going to rise, he would be very welcome, but he doesn't and just squeals like an irritating child.

Edited by HovelinHove

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Yes, but read the story itself:

"The UK's banks may be struggling with huge losses and bad debts, but the Bank of Mum and Dad is flush with cash and, so it seems, is single-handedly reviving the country's housing market.

...

David Smith says parents have been the main force behind this year's pick-up in sales.

"It's quite amazing, the number of buyers we get coming in with mum and dad in tow," he says.

"The majority of the people we are registering on our books are coming with the big deposits from their parents."

Many have been putting down large sums of money to finance the 20% or 25% deposits their children often need to buy flats or houses.

"One of the flats I sold at the weekend, the buyer brought his mum and dad down because they are putting down the deposit of over £100,000," says David.

"It is without question family funds, you can't save that sort of money in just one or two years." "

Brilliant. Looks like we won't ever need those asset-backed securities again, the "bank of mom and dad" can bail us out forever! Hurah! Thanks Beeb.

...just a shame my parents are borderline skint, otherwise I'd get them to 'invest' in ten flats.

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I did not read the article when first posted as I thought it would be a waste of my time, it is mega bear food if you read through the happy clappy stuff.

This in my opinion is securing far larger falls in the long run, it may take a little longer to get there but this is classic wealth destruction phase in action with all the parental funds getting sucked into property in this last hurah.

Also sales volume in London are still very low as confirmed on thread yesterday it is still 1/4 of a normal year. When this turns to the downside again I actually think we will get a crash number 2 of greater magnitude than the first, never happened before in modern history but then this is not a normal crisis. If this blip had not got so much coverage and traction I would have gone for the slow decline over the next 5 years but this is changing things sucking in the last buyers in all the hype in one big push similar to the way the top of bubbles operate.

Great news for the bears if you read between the lines.

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When people stop losing their jobs, and GDP returns to growth and the taxpayer is on track to being paid back for the bailout and the tax rises come in AND HPI is rising month on month - THEN and only THEN will I be worried.

This is nothing, but moping up the last people who have any money left.

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I did not read the article when first posted as I thought it would be a waste of my time, it is mega bear food if you read through the happy clappy stuff.

This in my opinion is securing far larger falls in the long run, it may take a little longer to get there but this is classic wealth destruction phase in action with all the parental funds getting sucked into property in this last hurah.

Also sales volume in London are still very low as confirmed on thread yesterday it is still 1/4 of a normal year. When this turns to the downside again I actually think we will get a crash number 2 of greater magnitude than the first, never happened before in modern history but then this is not a normal crisis. If this blip had not got so much coverage and traction I would have gone for the slow decline over the next 5 years but this is changing things sucking in the last buyers in all the hype in one big push similar to the way the top of bubbles operate.

Great news for the bears if you read between the lines.

Absolutely...that article proves there are no ordinary buyers in this market, and the banks are still not changing their criteria, and people are earning less, and there are more out of work. It is disgusting though that the BBC are so happy to try to lure parents into this. Not only are young couples going to end up with a massive mortgage they can't afford and are lumered with years in negative equity, but the parents will be well out of pocket too.

Looking at the two pictures of the estate agents reminds me so much of why I hate the whole industry so much.

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Absolutely...that article proves there are no ordinary buyers in this market, and the banks are still not changing their criteria, and people are earning less, and there are more out of work. It is disgusting though that the BBC are so happy to try to lure parents into this. Not only are young couples going to end up with a massive mortgage they can't afford and are lumered with years in negative equity, but the parents will be well out of pocket too.

Looking at the two pictures of the estate agents reminds me so much of why I hate the whole industry so much.

I would never encourage my kids to buy any property in todays market....even if I could help them out with a deposit, like throwing good money after bad. ;)

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Please allow me.

You are a VI doom and gloom ramper.

It's all gone pear shaped and you have started to realise you're not getting a 90% off 2007 price house.

You can choose. Try and get a bargain now while they are about 10% off, even though the houses for sale aren't the pick of the crop. Or option 2, save a deposit and pay the going rate for a nice place.

We didn't have a crash. Nice try for ramping one up but homeowners didn't allow it to happen.

That was so entertaining! :lol:

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Guest KingCharles1st

How did I know THIS THREAD would be about THAT ARTICLE!!!

Look at where that guy operates- BOMAD (obviously an HPC reader who penned that) probably own him inside out around there. Look at the money that shop of his cost FFS.

I would suggest that there is some link between the author of the piece, and Martyn Gerrard.

Maybe the BBC and it's strange little upper middle class pinko leftie spawn inhabitants realise they need to ramp so they can get BOMAD to release F U N D S as they themselves are in desperate need of same...?

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I think this guy was on the radio this morning, and his solution to the low volumes was to let first time buyers borrow more money, rather than let prices fall to affordability levels.

Criminal.

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I think this guy was on the radio this morning, and his solution to the low volumes was to let first time buyers borrow more money, rather than let prices fall to affordability levels.

Criminal.

Local BBC news last night ran a story on not enough affordable homes are being built because of the property crash so schemes are having to build less than originally planed to get the schemes going (50% down to 25% affordable houses).

The piece finished by saying that when property prices recover more affordable homes will be built. :lol::lol::lol::lol::lol:

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The 'bank of mum & dad' syndrome reminds me that this whole scam is about distribution of wealth, not creation.

Parents who've downsized rub their hands with glee at having a hefty pot of cash only to end up passing it on to their kids to keep this ludicrous bubble inflated. Who benefits? The government, the banks and the odd investor who times it right.

I saw this ad appear again recently, too - a brazen attempt to get mum & dad to help out. Shameless.

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interesting article, looks like the bubble is starting again.

Well what are you waiting for? Get out there and fill your boots...

<_<

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interesting article, looks like the bubble is starting again.

Quick, you'll miss out. Renting is dead money you know. Paying interest on a depreciating asset which needs servicing and repair is the SMART thing to to during the worst recession in living memory.

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Guest theboltonfury
Please allow me.

You are a VI doom and gloom ramper.

It's all gone pear shaped and you have started to realise you're not getting a 90% off 2007 price house.

You can choose. Try and get a bargain now while they are about 10% off, even though the houses for sale aren't the pick of the crop. Or option 2, save a deposit and pay the going rate for a nice place.

We didn't have a crash. Nice try for ramping one up but homeowners didn't allow it to happen.

One of your wires has worked its way loose. To stop talking such shit just reconnect it.

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Well, it’s certainly true though isn’t it. I’m personally seeing quite a few in their early 20s buying their first home, all with substantial assistance from their parents – typically around £40,000. Maybe that Times article was right about a new two-tier society emerging? It’s not what you do, but to whom you were born.

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Guest DissipatedYouthIsValuable
Please allow me.

You are a VI doom and gloom ramper.

It's all gone pear shaped and you have started to realise you're not getting a 90% off 2007 price house.

You can choose. Try and get a bargain now while they are about 10% off, even though the houses for sale aren't the pick of the crop. Or option 2, save a deposit and pay the going rate for a nice place.

We didn't have a crash. Nice try for ramping one up but homeowners didn't allow it to happen.

You're so right.

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Local BBC news last night ran a story on not enough affordable homes are being built because of the property crash so schemes are having to build less than originally planed to get the schemes going (50% down to 25% affordable houses).

The piece finished by saying that when property prices recover more affordable homes will be built. :lol::lol::lol::lol::lol:

OFFS!!! You couldn’t make this stuff up, could you!

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