Telegraph: Ten Reasons Why I'm Looking Forwards To The House Price Crash

[rantnrave]

!!

Front page on their website:

http://www.telegraph.co.uk/men/thinking-man/10-reasons-why-im-looking-forward-to-the-house-price-crash/

[TheCountOfNowhere]

"You’ll notice I put the house price crash last. That’s because, although I don’t think it’s very likely, it could happen. I’m not going to list signs of a coming property apocalypse (propapocalypse?) because there are always signs. Like everyone else, I’ve given up looking for straws in the wind; there have been so many of these, I could have built a haystack over the last decade.

Nonetheless, I can see how it could happen – and because the bubble is now so big, once it started it would quickly become totally unstoppable."

There's a bit of fence sitting if I ever saw it.

I read that as.....I fully expect it but I am not going to say it just in case.

Edited February 8, 2016 by TheCountOfNowhere

[beccles]

1. Normal people would move back into London.

2. We could forget about Lord Sugar

3. Branches of Foxtons will close down

4. Middle class investors will rediscover risk

Cant be bothered to ctrl v the rest, what a sh*t list.

[rantnrave]

Not sure why Foxtons would struggle if house prices fell? Income would increase on the back of higher transactions?

[rantnrave]

1. Normal people would move back into London.

2. We could forget about Lord Sugar

3. Branches of Foxtons will close down

4. Middle class investors will rediscover risk

Cant be bothered to ctrl v the rest, what a sh*t list.

Nice headline though...

[thejaksie]

propapocalypse

loving it

[Madcrash]

Nice that he even raises the prospect of 30%, 40%, 50% reductions and house prices from 2004.

[canbuywontbuy]

It's heartening to see this - although you can't help but wonder .... why wasn't this written years ago? Typical coy journalism waiting until the housing bubble is at its worst before admitting to it. The same paper that's been talking up house prices for years. Now the editor gives the go-ahead to state the bleeding obvious:-

5. Money will be freed up to perform more useful tasks

Overpriced property is a massive drag on the UK economy. For starters, every pound that goes into rent or mortgage payments is money you don’t spend on goods or services. If your rent was lower, you’d have more to fritter away on restaurants, holidays, cars, entertainment – and other stuff that’s good for the economy.

No sh!t sherlock.

"I don’t feel very good about the unearned hundreds of thousands I’m now sitting on"
Alex Proud

Yeah, right. Fact is mate - money talks. You might feel guilty, but you'll take the money and sell up at a profit.

[TheCountOfNowhere]

There is a definite narrative in the MSM regarding bubble popping, prices being insane, foreign investors fleeing, market collapsing.

Next up.....tell the sheeple that the crash has started.....

PANIC PANIC PANIC.

[dances with sheeple]

It's heartening to see this - although you can't help but wonder .... why wasn't this written years ago? Typical coy journalism waiting until the housing bubble is at its worst before admitting to it. The same paper that's been talking up house prices for years. Now the editor gives the go-ahead to state the bleeding obvious:-

No sh!t sherlock.

Yeah, right. Fact is mate - money talks. You might feel guilty, but you'll take the money and sell up at a profit.

Better get selling because when the panic starts it will be impossible to cash in double bubble gains IMO.

[dances with sheeple]

There is a definite narrative in the MSM regarding bubble popping, prices being insane, foreign investors fleeing, market collapsing.

Next up.....tell the sheeple that the crash has started.....

PANIC PANIC PANIC.

Bloomberg going hard on the "No inflation.....anywhere!" meme, as the markets plunge into the red all around them. Great stuff.

[winkie]

.....one reason why waiting for HPC because you no longer get quality nor quantity.....only hype, some people will believe anything.

[TheCountOfNowhere]

Bloomberg going hard on the "No inflation.....anywhere!" meme, as the markets plunge into the red all around them. Great stuff.

£10 of worthless paper for anyone who can spot massive inflation somewhere ?

Edited February 8, 2016 by TheCountOfNowhere

[TheCountOfNowhere]

.....one reason why waiting for HPC because you no longer get quality nor quantity.....only hype, some people will believe anything.

[Agentimmo]

If the Torygraph editors are sanctioning these type of headlines / articles that can only mean that the Barclay brothers (tax exiles living in Channel Islands - they own an island....) and their rich friends have all exited the market. Let the fun begin.

https://en.wikipedia.org/wiki/David_and_Frederick_Barclay

[winkie]

Start the fans please....

[TheCountOfNowhere]

If the Torygraph editors are sanctioning these type of headlines / articles that can only mean that the Barclay brothers (tax exiles living in Channel Islands - they own an island....) and their rich friends have all exited the market. Let the fun begin.

https://en.wikipedia.org/wiki/David_and_Frederick_Barclay

The 2007 crash caught them out, but if you look at the price of Gold, Some shares etc Early 2007 someone clearly knew what was happening and bought or got out.

Now the planets must be in alignment and they are ready to take their for us to take their medicine.

[smiley]

We need many more of these 'HPC is good' articles.

You can be sure that, when people realise prices are falling, there'll be sob stories and complaints ("I was told I'd made X-squillion on my BTL, but now I've only made half that..."). The 'HPC is good' narrative will have to counter them.

[Diver Dan]

We need many more of these 'HPC is good' articles.

You can be sure that, when people realise prices are falling, there'll be sob stories and complaints ("I was told I'd made X-squillion on my BTL, but now I've only made half that... not got a pot to p*ss in "). The 'HPC is good' narrative will have to counter them.

Corrected for you.

[Errol]

2. We could forget about Lord Sugar

With regret .... you're fired.

Edited February 8, 2016 by Errol

[Maximus Skepticus]

The 2007 crash caught them out, but if you look at the price of Gold, Some shares etc Early 2007 someone clearly knew what was happening and bought or got out.

Now the planets must be in alignment and they are ready to take their for us to take their medicine.

My sentiment has changed from anticipation to actual concern. I tell people it's coming, they think I'm the crazy lune that I probably am after months/ years of reading/ deliberating and hoping for this mess to be cleaned up once and for all. I say to them have an escape plan, but I don't really believe they know what that is. Nor do I properly; hold no debt, have some cash / pm/ food etc sell out of shares, get out of great Britian if you can lol....what else? I don't think I am positioned well enough to come out of a worse case scenario totally unscathed, are many? Online to offline takes a nanosec on Sunday night.

With DB, Santander and CS looking wobblier by the day, its clearly going to be bail-ins and closer to armaggedon than we care to think? Like being T-boned in a car crash, will we only see it at the last second? One things for sure, if it is bail-ins then I hope to god all those new career 'property developers' I have had teh displeasure of meeting at yet another 'house warming party' really get truly shafted. I think it's the financial services jobs (ex or current) which have bolstered prices in SW London, ridiculously priced shoe boxes for singles with too much money to spunk and no time to think about it. De-couple the city in the way that it is now heading from the bubble and it really could be game over. I will happily go American Psycho at the next house burning parties though.

Yet within my concern I feel somewhat happier

[eric pebble]

Love this quote:

"People have been moaning about smug middle-class types boasting about the value of their houses for 15 years now. And yet, the smug middle classes just can’t help themselves. In fact, the only thing they’ve learned in the last decade and a half is that you should preface your gruesome housebrag with “It’s dreadful but...” As if that makes that makes you any less of a *****."

Yup --- That's good to see in the msm..... Jeezzz it's so rare....

[pig]

Yup --- That's good to see in the msm..... Jeezzz it's so rare....

Hens teeth and all that. The cynic in me says it means nothing against the sheer weight of pro hpi articles, its just there to say 'I told you so' later. On the other hand you look at the stats and there must be a sheer weight of readers growing who welcome a more balanced view.

I like this quote, be nice if it started being a way of measuring economic and political performance.

5. Money will be freed up to perform more useful tasks

Overpriced property is a massive drag on the UK economy. For starters, every pound that goes into rent or mortgage payments is money you don’t spend on goods or services. If your rent was lower, you’d have more to fritter away on restaurants, holidays, cars, entertainment – and other stuff that’s good for the economy.

his works from the other side too. Every pound that investors don’t put into bricks and mortar generally goes into more useful and productive things, like growing businesses. Economists warn against the creation of a rentier economy, but this is exactly what we’ve done.

[billybong]

5. Money will be freed up to perform more useful tasks

Overpriced property is a massive drag on the UK economy. For starters, every pound that goes into rent or mortgage payments is money you don’t spend on goods or services. If your rent was lower, you’d have more to fritter away on restaurants, holidays, cars, entertainment – and other stuff that’s good for the economy.

They were banging on about that one all the time in the 80s and here the UK still is - with average standards of living still getting ever more relentlessly reduced year on year.

Point number 8 about there being better jobs/future for scientists and engineers etc That's a good 'un - google/bing Harold Wilson (the 1960s) for a laugh on that one.

From Wikipedia

At the Labour Party's 1963 Annual Conference, Wilson made both his best-remembered speech, on the implications of scientific and technological change. He argued that "the Britain that is going to be forged in the white heat of this revolution will be no place for restrictive practices or for outdated measures on either side of industry". This speech did much to set Wilson's reputation as a technocrat not tied to the prevailing class system.

Indeed there's likely to be a house price crash and also quite likely pretty soon but articles like the telegraph's have been published over and over again in the telegraph and in other outlets over past decades so people shouldn't build their hopes up that the UK will change in the way they try to imply. The chances of that change happening aren't entirely non existent but as things are the chances are extremely slim to virtually impossible.

Edited February 8, 2016 by billybong

[LC1]

Love this quote:

"People have been moaning about smug middle-class types boasting about the value of their houses for 15 years now. And yet, the smug middle classes just can’t help themselves. In fact, the only thing they’ve learned in the last decade and a half is that you should preface your gruesome housebrag with “It’s dreadful but...” As if that makes that makes you any less of a *****."

So refreshing