MacGuffin Posted June 30, 2010 Share Posted June 30, 2010 Why is the fear growing now all of a sudden? I'm talking about the perception, not the fundamentals. Has something happened? Quote Link to comment Share on other sites More sharing options...
red Posted June 30, 2010 Share Posted June 30, 2010 Missed it - did they actually refer to it as a 'bubble'? Quite telling as I would expect media to say the 'recovery' had stalled... Quote Link to comment Share on other sites More sharing options...
Pent Up Posted June 30, 2010 Share Posted June 30, 2010 Have they played it for the second time yet? I missed the start wanted to see it again. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted June 30, 2010 Author Share Posted June 30, 2010 Missed it - did they actually refer to it as a 'bubble'? Quite telling as I would expect media to say the 'recovery' had stalled... Yup, the reporter was, at one point, blowing bubbles with a kid's bubble mixture and hoop . Quote Link to comment Share on other sites More sharing options...
Pent Up Posted June 30, 2010 Share Posted June 30, 2010 Yup, the reporter was, at one point, blowing bubbles with a kid's bubble mixture and hoop . People don't actually understand what is meant by an asset bubble anyway so it doesn't matter that the used the word. Quote Link to comment Share on other sites More sharing options...
the flying pig Posted June 30, 2010 Share Posted June 30, 2010 On the Sky newspaper review late last night they Kelvin Mackenzie and the Telegraph boy ridiculing the Independent headline... Mackenzie went down the small island route... good old kelvin. always comforting to be able to turn to an intellectual heavyweight at times such as this. Quote Link to comment Share on other sites More sharing options...
Confounded Posted June 30, 2010 Share Posted June 30, 2010 Why is the fear growing now all of a sudden? I'm talking about the perception, not the fundamentals. Has something happened? Exactly, fundamentals have not changed one bit. For some reason the BBC has pulled it's regular reports on the shortage of housing. Before the election they were running regular reports about chronic shortage of housing. It was almost as if the government in power were trying to justify that the bubble was sustainable and not due to the financial ponzi they created to pump it up. Quote Link to comment Share on other sites More sharing options...
RufflesTheGuineaPig Posted June 30, 2010 Share Posted June 30, 2010 ...but the fact the main stream media are starting to pick on it is something...how serious it becomes (reflected by % falls) is another. No-one wnat to be the first... if you do that you get accused of scaremongering, and then if it does happen, CAUSING IT by scaremongering. On the other hand, you don't want to be the last person saying it wont happen, because you'll look really stupid. You want to jump on the bandwagon just as everyone else joins it, and then claim loudly you were the first. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 30, 2010 Share Posted June 30, 2010 Even the dullest journo can figure out 600,000 job cuts will affect house prices. Quote Link to comment Share on other sites More sharing options...
SNACR Posted June 30, 2010 Share Posted June 30, 2010 Even the dullest journo can figure out 600,000 job cuts will affect house prices. Really? They're not making any more land you know. Quote Link to comment Share on other sites More sharing options...
New_Renter Posted June 30, 2010 Share Posted June 30, 2010 Really? They're not making any more land you know. I have noticed in the last week at least that the media seems to be reporting double dip this, house price crash that. Its all over the place, its going to be an interesting year Quote Link to comment Share on other sites More sharing options...
MacGuffin Posted June 30, 2010 Share Posted June 30, 2010 Even the dullest journo can figure out 600,000 job cuts will affect house prices. But, but, those unemployed, benefit-claiming people still have to live somewhere, and Local Housing Allowance lets them rent the median property for their area and... *penny drops* Ohhhhhh........ Quote Link to comment Share on other sites More sharing options...
red Posted June 30, 2010 Share Posted June 30, 2010 Really? They're not making any more land you know. Hmm. That old chestnut. "...we're a small island...supply and demand..." Japan. Quote Link to comment Share on other sites More sharing options...
Tired of Waiting Posted June 30, 2010 Share Posted June 30, 2010 Ah yes, Japan . Very good one. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 30, 2010 Share Posted June 30, 2010 Most journos I know are married to teachers/social workers and move in such circles - go figure. Quote Link to comment Share on other sites More sharing options...
lulu Posted June 30, 2010 Share Posted June 30, 2010 i noticed that too.. as if they were trying to mask the seriousness of the news they were reporting. It will only get serious imo when we have successive months of falls recorded by everyone i.e. halifax / nationwide / etc. ...but the fact the main stream media are starting to pick on it is something...how serious it becomes (reflected by % falls) is another It should be on again in a few minutes.. Yep, ITV too had a report - I woke up halfway through it. Mentioned that despite the 0.1% growth from the Nationwide figures this disgused the fact that Carlisle (and somewhere else) had 3%(?) falls and NI had 10% dropped - all blamed on the increased number of repossessions which was somehting this nasty Government will make worse by stopping paying everyone's mortgages. One would think they had run out of money or something. But again the tone of the reporting was how this was bad news for everyone (ok, it is bad news to those who get repossed) but they forget that for many falling prices are a good thing. Quote Link to comment Share on other sites More sharing options...
non frog Posted June 30, 2010 Share Posted June 30, 2010 I blame the immigrants. :angry: (They've all gone home ) Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted June 30, 2010 Share Posted June 30, 2010 Yep, ITV too had a report - I woke up halfway through it. Mentioned that despite the 0.1% growth from the Nationwide figures this disgused the fact that Carlisle (and somewhere else) had 3%(?) falls and NI had 10% dropped - all blamed on the increased number of repossessions which was somehting this nasty Government will make worse by stopping paying everyone's mortgages. One would think they had run out of money or something. But again the tone of the reporting was how this was bad news for everyone (ok, it is bad news to those who get repossed) but they forget that for many falling prices are a good thing. Yes , I`m devastated, just can`t think how I will go on now that pwoperdee is a busted flush BRING IT ON, this country needs the biggest crash ever to shake some sense into people. Quote Link to comment Share on other sites More sharing options...
Mega Posted June 30, 2010 Share Posted June 30, 2010 The BIG question is............stable now.....then falls....or are we going to see one Bloodbath as panic grips the "Flock"? Mike Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted June 30, 2010 Share Posted June 30, 2010 The BIG question is............stable now.....then falls....or are we going to see one Bloodbath as panic grips the "Flock"? Mike From the undercurrent I sense in Edinburgh, panic, big time. Can`t wait. Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 30, 2010 Share Posted June 30, 2010 From the undercurrent I sense in Edinburgh, panic, big time. Can`t wait. Can you tell us more about what you are hearing in the city? Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted June 30, 2010 Share Posted June 30, 2010 Aren't you worried that they'll be more than made up by expansion in the private sector? Considering that the Welsh private sector consists of a small chippy in Ystrad Mynach - no. Quote Link to comment Share on other sites More sharing options...
xux42 Posted June 30, 2010 Share Posted June 30, 2010 People don't actually understand what is meant by an asset bubble anyway so it doesn't matter that the used the word. Its funny, we deal in generalisations about the public on here which serve pretty well but I have heard 2 anecdotals recently which indicate that some boomers & other people who have gained a lot of equity, and we would expect to have blind faith, absolutely do 'get it'. Chap at work's old Mum of 70 is ditching the family home of 40 years for a stonking profit because she thinks the 'big drop' is coming. Smart old lady. Divorcing friend who is having to sell up for the settlement thinks property prices are ludicrous too. Very annoyed that she can't STR because the court has ruled that if she buys another house she gets 60% but only gets 50% if she goes into rented (house would sell for cash tomorrow for £350k, so £35,000 difference). Bizarre huh? Don't start ranting about the 60% BTW, its counterbalanced by pension rights the hubby is keeping. Not all divorces are a cash bonanza for the wife. Quite the opposite in fact. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted June 30, 2010 Share Posted June 30, 2010 (edited) Can you tell us more about what you are hearing in the city? Woman burst into the library tonight, looking all over the place, librarian asked if she could help,the woman said yes, a book on selling houses please! Librarian reeled off a few titles The easy way to BTL was one of them,the woman said Oh no my neighbour does that, I don`t want to do that, I had to cover my face at that point. I kid you not. The general vibe in the city has gone from smug satisfaction to a real sense that something is wrong,you can just see it in the more agitated way people are driving for example, empty pubs, quiet buses even at weekends. IMO in some of the rich areas like Marchmont and the Grange you can just smell the asset depreciation, I can`t explain it but you can sense a change. NO ONE bleats about their smart property purchase any more, reeling off absurdities like "we got it for five hundred" Five hundred what? Mars bars? Edited June 30, 2010 by dances with sheeple Quote Link to comment Share on other sites More sharing options...
Guest Steve Cook Posted June 30, 2010 Share Posted June 30, 2010 (edited) Hmm. That old chestnut. "...we're a small island...supply and demand..." Japan. Exactly. Bangladesh is a very crowded region. The demand for real estate and consequent market volume is high. But, because there is less money and credit available, prices are lower there than here. Demand stimulates the vigour of a market. The availability of money or credit, however, is the ultimate arbiter of price. Edited June 30, 2010 by Steve Cook Quote Link to comment Share on other sites More sharing options...
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