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benjamin

House Prices Plunge

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Guest Charlie The Tramp
Tony Blair owns a six-bedroomed house in Sedgefield. His constituency’s soft housing market will add to the Prime Minister's already mixed record when it comes to investing in property.

The Blairs are not very lucky in the property market are they, is not one of his titles First Lord of the Treasury. :unsure:

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I saw it reported somewhere that the Blairs, based on current valuations, may have lost up to £600K on their purchase of the London house and the Bristol flats. By my reckoning that puts them in negative equity based on the massive mortgage they have taken out on the prime property.

They have become the perfect contrarian indicators; when they buy you should sell and vice versa!

Edited by Red Baron

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I have written some other moans about the Times on HPC many times before (excuse the pun). In fact I stopped receiving the Times a while ago when they wrote that stupid article about the idiots who were "worth" £9m because they had bought £9m of property with a £8.5m mortgage.

Anyhow, this new article is taking the pi55. I thought that last week they were lauding the growth in prices in North and nationally and saying that things had been positive all over in 2005 and that things were rocketing in 2006.

Then this???

Some on this site would say that it shows that the market is poor because of the lack of clarity etc., some would say about TB being a stupid wally but I think it only show what a stupid stupid paper the Times has become.

Rant over.

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House prices plunge in Blair's constituency

By Rhys Blakely

Homeowners in Tony Blair’s constituency suffered the largest falls in house prices seen in the UK last year.

According to figures published today by the Nationwide, while prices throughout the whole of England rose by nearly 2 per cent, prices in the North fell by 2.1 per cent in 2005, with the biggest local fall seen in Sedgefield, which the Prime Minister has represented as an MP since 1983.

Cr@p journalism or deliberate bias - you decide

This looked a reasonable piece of reporting on first impressions, but reading though I can’t find any mention of the -12.6%. It only has the North as a whole down by 2.1%, so the impact of the -12.6% is lost, leaving the reader to with a not-so-bad -2.1% lodged in their head (along with the ‘bullish’ overall increase figure). Hey, I’ve watched my Derren Brown, I know about these things ;)

Either it’s an incredible oversight in which both the reporter and the sub-editor missed a glaring omission, or it was a deliberate attempt to downplay the story.

I think it has to be the latter (maybe the BTL subbie ‘edited’ out). Ok the reporter might forget to add in an important figure from time to time, but even the most junior sub-editor could not fail to miss something like that. I would be like reporting on a record football defeat, but without mentioning the score.

So if I’m correct, the story was only run to have a dig at Blair, but the Times still saw fit to cloud the truth. The rest of the story is pretty much bull/ish

I’m actually paranoid though that the -12.6% is buried in there somewhere and I’ve missed it. I’ve just read it again and still don’t see it, so if I am making a fool of myself, apologies.

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Beans wrote:

So if I’m correct, the story was only run to have a dig at Blair, but the Times still saw fit to cloud the truth. The rest of the story is pretty much bull/ish

I think you are right. Just look at the comedy graphic at the top of the article. The grinning Blairs rather poorly cut-and-pasted over a forest of for sale signs.

Message: "blair is stupid but house prices won't crash". What do you expect from a Tory paper? Perhaps this government has failed Britain's FTBs but the Tories would be worse.

frugalista

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Cunning plan option one:

HPs crash

Brown is kicked out of job, no more hope of being PM

Blairs say "We feel your pain" to the UK public. "We have lost a fortune on our house(s) also."

Blair remains PM

Blair opens London Olympics as PM

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Cunning plan option one:

HPs crash

Brown is kicked out of job, no more hope of being PM

Blairs say "We feel your pain" to the UK public. "We have lost a fortune on our house(s) also."

Blair remains PM

Blair opens London Olympics as PM

Followed by:

Cherie (Cherry, Sherry, whatever) writes book about experience followed by world tour.

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Beans wrote:

I think you are right. Just look at the comedy graphic at the top of the article. The grinning Blairs rather poorly cut-and-pasted over a forest of for sale signs.

Message: "blair is stupid but house prices won't crash". What do you expect from a Tory paper? Perhaps this government has failed Britain's FTBs but the Tories would be worse.

frugalista

Great work Frugalista - keep on like that and NULab will get back in. We need to VOTE THEM OUT by voting the Conservatives IN. And I think the Times is very odd too - is it really 'Tory'? I can't bear to read it as it's so designed for Nulabour's beloved baby-boomers with 'investment properties'

The Conservatives are a young-person's party now. Let's give them a chance. I try to but Tony's idiots always beat me. I know the Tories are not perfect but they're the best chance we've got at the moment.

I fully respect your views by the way and don't mean to preach.

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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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