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Ephraim Bubble Blower

The Media Spin Has Worked

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I've lost count of the number of intelligent informed people who have told me that the UK market has flattened (not fallen) and that it has even begun rising again. It seems the media and vested interests' spin has worked its magic for now. Given that this general sentiment that the crash didn't occur (true) but also won't occur (perhaps untrue), will inevitably delay the adjustment process even further. It all makes me worry that in the absence of a clear exogenous shock which the average man on the street can understand eg. interest rate rises, war etc.. then we will be in for years if not decades of false starts awaiting a crash because the public's biases and misunderstandings are too well-entrenched.

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yes unfortunately the majority do not get to see this forum. Watching Relocation, relocation et al and reading reports in tabloids/bbc/c4 etc ( as the majority do ).....the picture is still pretty bullish.

Had 3 application for 0% credit cards drop thru letter box since xmas so looks like temptation to spend, spend , spend is still being offered to people.....and that is terrifying.....

London Evening standard this week has been talking of record number of job vacancies in the City..........and record bonuses were reported a few weeks ago. Until people are really IMPACTED personally then can not see the fear hitting? I can only go on what i see/hear in London. The fear has hit me because i read the reports on this site and yes it has made me stop and think..........

But unless you are a forced seller or someone with overstretched commitments then will they worry? especially if you are sitting on big chunk of equity.......(as many are in the South), it seems to me that it is the recent FTB's or hard working families who will be hit hardest. Even people on this site mention how they sat through last crash and rode the storm.

Job loses/personal debt figures are scary...but does average punter know about these figures? And will all due respect if massive job loses/recession sweep thru why will people on this forum be immune to it? I have been unemployed in last recession and the last thing i was looking at was buying a property, even with falling prices.....

IMO it takes skill/judgement/time to make a killing on the stock market, and i am not sure if Joe public has the inclination to cash in their home to rent and gamble on the stock market.....

I am sitting tight and have learnt loads from reading this forum and it has stopped me investing further in property........Most people I speak to feel that prices will not rise by more than 2-3% this year but not crash massively either. Again can only talk about London, and this is for great property in excellent location.

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Off topic, but since 0% credit cards were mentioned, has anyone tried this out?

http://www.moneysavingexpert.com/cgi-bin/v...076883546,34894,

Take £4000 'balance transfer' from the card for 9 months for free, invest it in an ISA and/or savings account. Pay back the minimum amount each month then pay back the ~£4000 at the end of 9 months. £15 interest a month for doing not very much...

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But you only get 3k cash isa a year and once you take it out you cna't top it back up... so not the most efficient way of using an isa.

I know what you mean. For me an ISA is the best place to put it. Free money can still be had by sticking it in an ING account though!

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I know what you mean. For me an ISA is the best place to put it. Free money can still be had by sticking it in an ING account though!

Yes but I am using it to offset my mortgage on an offset mortgage account. Its awfully nice that Lloyds have been paying the interest on 20% of their mortgage for the last year.

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Yes but I am using it to offset my mortgage on an offset mortgage account. Its awfully nice that Lloyds have been paying the interest on 20% of their mortgage for the last year.

It's almost worth getting a mortgage so that I can abuse the free credit in this way :)

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We need to lobby our Tory MPs to pressure the Tory press to print the truth about house prices. Some splashy headlines in the Telegraph and Sun might do some damage? After all HPC is the Tory ticket back into power. That said--truth will come out sooner or later as the LR figures are published (unless the government censor the figures).

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I've lost count of the number of intelligent informed people who have told me that the UK market has flattened (not fallen) and that it has even begun rising again. It seems the media and vested interests' spin has worked its magic for now. Given that this general sentiment that the crash didn't occur (true) but also won't occur (perhaps untrue), will inevitably delay the adjustment process even further. It all makes me worry that in the absence of a clear exogenous shock which the average man on the street can understand eg. interest rate rises, war etc.. then we will be in for years if not decades of false starts awaiting a crash because the public's biases and misunderstandings are too well-entrenched.

Ephraim, God has indeed made you fruitful and wise. I hope you are wrong but I fear you are right.

S. :unsure:

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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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