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Catch22

Before The Last Property Correction

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Some one posted a list of newspaper quotes that attempted to "bull" the market up, even though it was on the point of undergoing a correction . I was just thinking we are again seeing such reporting, and those who have the most to loose from property corrections. Under captilised frustrated FTB'ers may be conned into believing if they don't jump in now they will indeed miss the boat.

So if someone could dig that list of quotes up, I think it would be a good idea if WEBMASTER made it a non postable to STICKY. So the next time we get a newbie potential FTB'er, saying "just a minute I read in the paper today that property prices have bottomed, and will increase a zillon percent over the next five years. They can be directed to said sticky

waddyathink :blink:

Edited by Catch22

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id suggest a small 120x60 gif link of a newspaper page as a direct link off the main index page. (perhaps animated to spin like the classic hot off the press style and yellowed for age.

as a title id suggest maybe '**** press' or 'Metro Gnome'

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It's linked of the FAQ from the front page - Tho i do wonder how many people find it from there.

Most forums have a sticky FAQ

http://www.housepricecrash.co.uk/FAQ-1988-...papers-said.php

Jeez kinesin that was quick, so there it is and yes I agree it is not where it would do best work. I think it should be made a sticky on this the main form as well.

Thanks

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A nice quote at the dawn of the mother of all crashes.

The Times

SAT 02 JUL 1988

House-rich;House prices;Family Money

Soon no area of the country will be immune from "rampaging" house-price increases, says the Royal Institution of Chartered Surveyors. The institution says that more than half of the 188 estate agents who contributed to its survey of prices for the...

:lol::lol::lol::lol::lol::lol:

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The Times

WED 22 MAR 1989

Marking time;House prices in Britain

House prices in Britain are likely to stagnate this year, the Halifax Building Society said yesterday. It expects high demand in the Midlands and North but a slowing down in the South.

HPC as the primary source of info could be correct as pointed out on another thread , they seem to be printing the same articles they were writing last time round.

D

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I am beginning to think that people, in general, think the last crash was something that never happened - or, if it did, it was a minor blip and not worth thinking about.

For anyone younger than about 35 now it probably meant nothing. They were still at school and green behind the ears - so what Dad's been made redundant and house prices are falling - I am much more focused on enjoying myself.

For anyone under 25 it literally means nothing.

For a lot of people that are older - they seem to have bought into the idea that it was a one off. A blip on their journey through life to owning a million pound house.

It's because people don't think. They don't question why house prices are going up, they just think it is some sort of natural law - that benefits them as house owners.

Throw in the media and its almost 1984esque. History is being re-written.

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i can remember it. the first gulf war was on at roughy the mid-point.

the economy wasnt booming, but at the same time - it wasnt chaos either.

at the time it was just quiet, but ok.

this one, though predicted to be bigger, hopefully will only affect houses and the btl - who lets face it, deserves to lose some gains. overall. i dont think we rest entirely on house inflation. though we have held it for far too long. we can afford the payback if we quit now and trim our fats.

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I am beginning to think that people, in general, think the last crash was something that never happened - or, if it did, it was a minor blip and not worth thinking about.

For anyone younger than about 35 now it probably meant nothing. They were still at school and green behind the ears - so what Dad's been made redundant and house prices are falling - I am much more focused on enjoying myself.

For anyone under 25 it literally means nothing.

For a lot of people that are older - they seem to have bought into the idea that it was a one off. A blip on their journey through life to owning a million pound house.

It's because people don't think. They don't question why house prices are going up, they just think it is some sort of natural law - that benefits them as house owners.

Throw in the media and its almost 1984esque. History is being re-written.

i agree that the under 35 's were too young to understand what happened last time round.

a lot of the over 35's have a number of misconceptions

a) it was thatcher/ lawson who caused the last crash. as they are off the scene it wont happen again

B) gordon brown has told them repeatedly that he has ended boom n bust. if you repeat something often enough, many people will believe it

c) we as humans want to believe that good fortune has come our way. hence the success of many get rich scams where the gullible believe money grows on trees.

you can see similar features in other countries ( usa, australia etc)

what is clear now is that easy money allows these bubbles to form.

they collapse when reality forces a withdrawal of the eass money.

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i agree that the under 35 's were too young to understand what happened last time round............

.............what is clear now is that easy money allows these bubbles to form.

they collapse when reality forces  a withdrawal of the eass money.

Yes and that is why those of us who did experiance that correction have to HAMMER IT HOME to the Thirty something FTB'ers of today. With low inflation, negative equity debts could mean that they are responsible for paying the mortgaged on their own prison with out bars.

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Here are some of my favorites, they chart six years of false hopes that helped to insnare millions in financial misery, and broken homes.

The Times

FRI 20 MAY 1988

House prices up 50%; Norwich; Focus

One inevitable side-effect of Norwich's having joined the south-east economic boom is a sharp rise in house prices. According to Arnold Son & Hockley, a firm of chartered surveyors, there have been increases of up to 50 per cent in the last year alo...

The Sunday Times

SUN 18 NOV 1990

House prices set to take off in spring

THE worst slump in Britain's housing market for more than a decade will end next spring, an authoritative report will forecast this week. Prices will rise by an average of 20% within two years, Lower interest rates and higher wages will combine to s...

The Times

WED 13 MAR 1991

House prices predicted to rise 66% over five years

HOUSE prices in the UK are predicted to rise by an average of 66 per cent over the next five years as the housing market recovers from the slump through falling inflation and interest rates. The Housing Mortgage Corporation, in its latest house price...

The Times

TUE 03 MAR 1992

No let-up in house price fall

House prices fell again last month in spite of efforts by the government and lenders to breathe life into the market, according to a Nationwide building society survey. Figures showed prices down 1.2 per cent on the previous month, the third consecut..

The Times

TUE 02 JUN 1992

Falling house prices trap 2m borrowers

AT LEAST 278,000 first-time buyers have mortgages larger than the current values of their properties, according to official figures from the Council of Mortgage Lenders. A report to be published next week by UBS Phillips & Drew, the securities house,...

The Times

THU 16 DEC 1993

House price boom predicted for 1994

HOUSE prices will rise by 19 per cent across the country next year, and by 25 per cent in the prime areas of London, according to the research department of Savills estate agent. Savills accurately predicted a fall of 8 per cent for prime central Lo..

The Times

TUE 04 OCT 1994

House prices fall 2.9%

House prices fell last month by 2.9 per cent, their biggest drop since October 1990, the Nationwide Building Society said yesterday. The average price of a house in September was Pounds 53,918, which was Pounds 1,617 lower than in August. But prices...

The Sunday Times

SUN 02 JUL 1995

New price slump dashes hopes of housing revival

A STEEP fall in house prices was recorded last month, bringing them to a lower level than a year ago and dashing hopes of a property market recovery. Gloom over the economy and job insecurity contributed to an average 1% fall in June, according to th...

The Times

WED 03 JAN 1996

House prices remain lower than a year ago

HOUSE prices are still much lower than they were a year ago in spite of five consecutive monthly increases, according to Britain's largest mortgage lender. The Halifax, which has more than two million borrowers, will announce today that, on an annual...

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A nice quote at the dawn of the mother of all crashes.

:lol:  :lol:  :lol:  :lol:  :lol:  :lol:

And then this in 1992 (wonder if it was the same journo :lol::lol::lol: ):

The Sunday Times

SUN 21 JUN 1992

`Boom days gone forever' as house prices still fall

THE housing market is showing no signs of recovery and will remain depressed for the next five years as cautious buyers adjust to new economic circumstances, says an authoritative report to be published on Tuesday. It predicts a fall this year of 4%...

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id suggest a small 120x60 gif link of a newspaper page as a direct link off the main index page. (perhaps animated to spin like the classic hot off the press style and yellowed for age.

as a title id suggest maybe '**** press' or 'Metro Gnome'

killerflipflops3qr.gif

Sorry Fred couldn't find any front page clips from 90's

without signing up to a subscription! ££££

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The Times

TUE 04 OCT 1994

House prices fall 2.9%

House prices fell last month by 2.9 per cent, their biggest drop since October 1990, the Nationwide Building Society said yesterday. The average price of a house in September was Pounds 53,918, which was Pounds 1,617 lower than in August. But prices...

You could use the last sentence as a caption contest.

"But prices appeared to be stabilising when John Evans from Rotherham was seen to enquire about no.26 Albert Road. However, when questioned about his interest, Mr. Evans (26) said 'no, you'd have to be a mug to buy property now, i was just peering between properties at the girl on the mortgage desk. She looked quite nice'".

Edited by the end is nigh

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These are my favorite two:

The Times

WED 08 MAR 1989

Agents forecast up to 20% rise in house prices near route;Channel tunnel rail link

Property prices in Kent in areas within reach of stations on the Channel tunnel rail link are likely to rise by 10 to 20 per cent because of improved access to London the line will bring, according to estate agents in the county. They believe that th...

The Times

WED 26 JUL 1989

Tunnel line cuts price of houses;Channel tunnel

A number of properties blighted by their closeness to the Channel tunnel terminal at Cheriton in Kent have been put up for sale at 20 per cent below market value. The 26 properties are in the villages of Newington, Peene and Frogholt and are being so...

Edited by Giraffe Cat

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