Realistbear Posted August 2, 2006 Share Posted August 2, 2006 http://business.scotsman.com/index.cfm?id=1117672006 Housebuilder Wimpey plays down 'boom" HOUSEBUILDER George Wimpey yesterday poured cold water on hopes for a new housing boom despite trumping market forecasts with a 25 per cent leap in first-half profits. The group said sales and margins rose sharply in a "solid and stable" UK housing market, but warned that higher prices in some UK areas had become tougher to achieve. Chief executive Peter Redfern said that, while affordability had become less of an issue around London in recent months, there were some "marginal" concerns in northern parts of England. Housing trends are generally said to move from the more populous south-east northwards into Scotland. "It's not causing it to creak and stop," Redfern said. "What you're seeing is prices rising at between 3 and 4 percent, rather than the 9-10 percent you did before." Last updated: 01-Aug-06 00:58 BST Corporations are less likely to spin and tell porkies as false prospectuses can attract the attention of lawyers. Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted August 2, 2006 Share Posted August 2, 2006 "It's not causing it to creak and stop," Redfern said. "What you're seeing is prices rising at between 3 and 4 percent, rather than the 9-10 percent you did before." Last updated: 01-Aug-06 00:58 BST[/indent] Corporations are less likely to spin and tell porkies as false prospectuses can attract the attention of lawyers. I agree with this. Prices rising at 3-4% per annum is quite sustainable, going forward. Quote Link to comment Share on other sites More sharing options...
MarkG Posted August 2, 2006 Share Posted August 2, 2006 I agree with this. Prices rising at 3-4% per annum is quite sustainable, going forward. Not when it starts from the highest prices ever. Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted August 2, 2006 Share Posted August 2, 2006 Not when it starts from the highest prices ever. Well I'm with RB and Wimpey on this one. No more boom. Wage-inflation linked rises in the foreseeable future. Quote Link to comment Share on other sites More sharing options...
The Fish Posted August 2, 2006 Share Posted August 2, 2006 Well I'm with RB and Wimpey on this one. No more boom. Wage-inflation linked rises in the foreseeable future. I never noticed RB cancel the crash. You're on your own I think. Quote Link to comment Share on other sites More sharing options...
apom Posted August 2, 2006 Share Posted August 2, 2006 I never noticed RB cancel the crash. You're on your own I think. If house prices were meant to be this expensive, they would always have been this expensive. simple as that.. afordability at 1991 levels.. last boom and.. 11% IR's ouch.. and bad debt charges making up how much of the less responsible lenders profit surge?? Northern Rock? Ouch.. Its horrible.. If the IMF get together and say the economy cannot support it.. can't support the debt.. can't support the prices.. Not every house has been sold at these prices.. and as more and more are.. then the crunch time.. Still.. At least prices are dropping.. not everywhere.. but in a lot of places.. Just people have to realise. The economy cannot support the prices. FACT. Quote Link to comment Share on other sites More sharing options...
moneymad Posted August 2, 2006 Share Posted August 2, 2006 If house prices were meant to be this expensive, they would always have been this expensive. What?? So there would be no ups or downs in value? What a strange statement! CO: "Well I'm with RB and Wimpey on this one. No more boom. Wage-inflation linked rises in the foreseeable future." - I don't think RB was supporting you point CO! Please don't be like everyone else on this site and "Follow The Bear", as the beer commercial told us to do! There are only one or two posters like yourself that bother to post anything other than end-of-the-world diatribe, keep up the good work. Sorry about the "back slapping" sentiment. Quote Link to comment Share on other sites More sharing options...
IamSpartacus Posted August 2, 2006 Share Posted August 2, 2006 If house prices were meant to be this expensive, they would always have been this expensive. If God had meant us to fly he would have given us wings To borrow an over-used quote from the bears: just because there hasn't been a soft-landing yet, doesn't mean there'll never be one! Quote Link to comment Share on other sites More sharing options...
BandWagon Posted August 2, 2006 Share Posted August 2, 2006 Well I'm with RB and Wimpey on this one. No more boom. Wage-inflation linked rises in the foreseeable future. So a market that has been cyclical for centuries has just stopped at the top? Try studying the history of economic booms... Quote Link to comment Share on other sites More sharing options...
since the beginning Posted August 2, 2006 Share Posted August 2, 2006 I never noticed RB cancel the crash. You're on your own I think. I know what he means. In markets you expect things to be 'priced in' i.e. can Casual Obeserver explain why the market was so wrong from say 1960 - 1998 (excluding the booms). If the market is correctly priced now why was it so out 5 years ago. Of course I can understand if it purely down to structural reasons like mass immigration but this doesn't really explain why 'Up North' has seen such a massive boom. Quote Link to comment Share on other sites More sharing options...
MRMX9 Posted August 3, 2006 Share Posted August 3, 2006 Anyone who has lived in a George Wimpey development knows all about having cold water poured all over them. They have a shocking reputation for poor quality new builds with dodgy plumbing and regular episodes of flooding. Quote Link to comment Share on other sites More sharing options...
right_freds_dead Posted August 3, 2006 Share Posted August 3, 2006 i hope all these building companies go bust. Quote Link to comment Share on other sites More sharing options...
benjamin Posted August 3, 2006 Share Posted August 3, 2006 i hope all these building companies go bust. then watch how high prices rise... Quote Link to comment Share on other sites More sharing options...
Casual Observer Posted August 3, 2006 Share Posted August 3, 2006 I never noticed RB cancel the crash. You're on your own I think. No I don't think so. Just read the Wimpey report he decided to post. I agree with it entirely. Presumably, so did he. Or did his white socks get all mixed up in the spin-cycle, and come out pink? Quote Link to comment Share on other sites More sharing options...
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