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Algie

They Start To Believe It Themselves

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“If the rise in mortgage debt and falling house prices keep going, we might experience a significant economy slowdown, which will push up the number of companies failing in this sector.”

Incredible passage considering it's on their own website.

"While Countrywide, the biggest estate agency group in the country, reported profits down 90 per cent"

F*ck me! 90%!

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Guest Bart of Darkness
In the meantime, Countrywide’s half-year results made predictably gruesome reading when they were announced on August 11.

Pre-tax profits crashed to £3.5 million against £30.7 million a year earlier; earnings per share plunged from 12.2p to 1.82p,

Deary deary me.

How sad.

Never mind.

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This is huge news, if correct- if the big boys are struggling, then it must be devastating for the smaller estate agents.

It takes a fall of 30% in transactions to wipe out 90% of profits....

Edited by trev

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According to research by industry analysts ICC Credit, two per cent of companies within the sector are in liquidation and three per cent have County Court Judgments filed against them. Matthew Debbage, head of product and marketing at ICC Credit, said: “If the rise in mortgage debt and falling house prices keep going, we might experience a significant economy slowdown, which will push up the number of companies failing in this sector.”

sorry.. I know its been quoted..

But superb....

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It takes a fall of 30% in transactions to wipe out 90% of profits....

Most businesses make their profit on the last few percent of turn over, say 10% or less. To loose 30% and still be in profit suggests they have been doing really well!

Mind if this autumn goes to form they will probably make a loss in their second half. :) Unless, of course, their accountants are really good. <_<

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Most businesses make their profit on the last few percent of turn over, say 10% or less. To loose 30% and still be in profit suggests they have been doing really well!

Mind if this autumn goes to form they will probably make a loss in their second half. :) Unless, of course, their accountants are really good. <_<

or you book a large one of profit on the sale of a part owned subsidery (Rightmove.co.uk) as its floated on the stockmarket.

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Isn't it Countrywide who when they sell properties through auction link through a local agent to advertise and then they tell you to phone a premium rate number to get through to pay for a catalogue?

Going bust? I bluddy hope so!!!

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Everything else aside..

If Estate Agents talk of poor market and dropping house prices..

Is this not the final confirmation of the crashes begining.

Market not to recover till 2008...?

that sounds about right..

Thats starting to recover... Not recovered..

How needs any more confirmation...?

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Hmm unsure..

People still believe that its still a soft landing or prices are going to stabilise. If that is correct, then between now and 2008(and therefore forever!), FTBs will never get on to the housing ladder.

An unlikely scenario perhaps, but it is lies the Vested interests want us to believe.

Edited by trev

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Hmm unsure..

People still believe that its still a soft landing or prices are going to stabilise. If that is correct, then between now and 2008(and therefore forever!), FTBs will never get on to the housing ladder.

An unlikely scenario perhaps, but it is lies the Vested interests want us to believe.

I'm beginning to feel like they are going to spin it around, but those nifty little sensationalising doom mongering Trevor MacDonald days do help. We need more of them...(the bitter and twisted part of me hungers for avian flu still :o )

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As a doctor and a father of two young children I certainly do not want Avian flu epidemic. Be careful what you wish for. Traditionally half of the flu epidemics take out very young and old and half the rest of us in the middle. The last two outbreaks have been of the young and old variety. This one may have our name on it.

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As a doctor and a father of two young children I certainly do not want Avian flu epidemic. Be careful what you wish for. Traditionally half of the flu epidemics take out very young and old and half the rest of us in the middle. The last two outbreaks have been of the young and old variety. This one may have our name on it.

Doctor Doctor I feel like a pair of curtains.

Pull yourself together man.

Don't go yet , it gets better.

Doctor Doctor have you got anything for my liver

How about a pound of onions.

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Man comes into the surgery wrapped from head to toe in cling film, says to the quack, 'doctor you've got to help me, I've no idea what's wrong with me'. Doc says 'Don't worry old chap, I can plainly see your nuts'.

I'm here all week and you can see me in panto in Butlins Skeggy.

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Man comes into the surgery wrapped from head to toe in cling film, says to the quack, 'doctor you've got to help me, I've no idea what's wrong with me'. Doc says 'Don't worry old chap, I can plainly see your nuts'.

I'm here all week and you can see me in panto in Butlins Skeggy.

A woman goes to see a Japanese doctor and says "Doctor, doctor, I've got a terrible headache, my joints ache and I can't stop shaking all over. Have you any idea what's wrong with me?"

The doctor looks her all over, takes her temperature and her pulse and stands there frowning for a couple of minutes, as if trying to puzzle out what terrible affliction could cause these symptoms. Finally, unable to stand the tension any longer, the women blurts out, "Please doctor! Please tell me if you think you know the name of this disease!".

The doctor looks at her solemnly, and says "I'm afraid to say you have a very severe case of Zachary's disease."

"What is that, doctor?"

"It's where your face looks ex-Zachary like your ar5e."

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I'm beginning to feel like they are going to spin it around, but those nifty little sensationalising doom mongering Trevor MacDonald days do help. We need more of them...(the bitter and twisted part of me hungers for avian flu still :o )

Look..

Don't worry.. I prices don't drop the debt burden gets bigger and the economy gets weaker..

If prices stayed where they were two years ago and everyone thought "Superb, let me have one of those two bed new build bad boys..!" then the debt burden would have to grow and grow.. and grow..

It can't actually physically do that.. there is no way it can do that. Prices can stay where they are as long as no one buys them.,,

That is the only way..

Its economic certainty

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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