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The Man From The Pru


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Just a quickie for all of you who missed it.

Wed 13th July Working Lunch

They had an article on the pru visiting their customers. Later on in this the chairman (or similar) stated the Pru was getting out of the property market. Obviously there is no security there.

Just thought I'd share some nice news.

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This housing bubble has been created by excess cash in the system, from your friendly bank.

In the same way that pumping liquidity expanded the bubble, expect a drying up in mortgage funds to deflate the bubble.

And the banks WILL do this, they don't want to get caught with too many bad debts.

Quite ironic really..

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I just caught a snippet of Working Lunch out of the corner of my eye, maybe it was from the same bit, but a suited bloke said either 'The rate of House prices is de-accelerating' or 'the rate of house sales is de-accelerating' a new euphanistic use of the word of 'de-accelerating' in either use.

Any word but the C word eh

Edited by Saving For a Space Ship
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I just caught a snippet of Working Lunch out of the corner of my eye, maybe it was from the same bit, but a suited bloke said either 'The rate of House prices is de-accelerating' or 'the rate of house sales is de-accelerating'  a new euphanistic use of the word of 'de-accelerating' in either use.

Any word but the C word eh

That's the guy. Square head, square glasses and hair that somehow didnt seam connected to his head.

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A RealPlayer Vid of todays working Lunch is here http://www.bbc.co.uk/newsa/n5ctrl/progs/bu...rking_lunch.ram

They seem to be flogging French property via EA's article on their home page

http://news.bbc.co.uk/1/hi/programmes/work...nch/4678791.stm

Just noticed they have a 'buying a home' guide at bottom of their home page

http://news.bbc.co.uk/1/hi/programmes/work...nch/default.stm

Edited by Saving For a Space Ship
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Just a quickie for all of you who missed it.

Wed 13th July Working Lunch

They had an article on the pru visiting their customers. Later on in this the chairman (or similar) stated the Pru was getting out of the property market. Obviously there is no security there.

Just thought I'd share some nice news.

Didn't the Pru recently repackage an existing portfolio of commercial property as a new investment trust and flog it to private investors as a new way into the latest frothy, sorry wealth-creating market? I suppose they meaning the Pru would be out of it at the right time but their clinets would be in it just in time for the big falls.

This from their website: "Prudential Property Investment Managers (PruPIM) is one of the largest institutional property investors in the UK, with growing investment in the international property market, particularly in Australia." Doesn't sound like they are out of property just yet... :rolleyes:

S.

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Guest prudence
Just a quickie for all of you who missed it.

Wed 13th July Working Lunch

They had an article on the pru visiting their customers. Later on in this the chairman (or similar) stated the Pru was getting out of the property market. Obviously there is no security there.

Just thought I'd share some nice news.

They said they were getting out of commercial property, not property in general.

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I had a letter from my former employer today. They notified me that the company that manages the pension fund are going to stop investing in commercial property.

Clever decision because the fund has increased from £650m to£1.65bn in two years. Also they state that there are too many people wanting to join the fund and cite a lack of liquidity in the market as one of their decisions to ditch it.

But they have also noticed that valuations are flat (GSD?) and they now seem to want to invest in new areas.

<_<

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