JustYield Posted September 10, 2006 Share Posted September 10, 2006 IMO Edmund Conway has today produced his best piece yet. Word on the street (Daily Telegraph 09/09/06) It's balanced, well written and above all else, frank and honest. He knows that renting would probably make more financial sense in the near future, but wants (and can presumably afford) his own place. In otherwords, his heart has trumped his head. He concedes that he will also have to pay for the privilege of ownership. Fair enough. At least he's being honest and appears to be entering into home ownership with a modestly realistic outlook of what it might bring. Good luck to the guy. Edmund Conway is not very bright, IMO. (He recently said MEWing was increasing people's wealth.) This comment confirms it: I, too, am a first-time buyer. Despite all the predictions of impending doom in the market, I am still delighted to have got hold of my place. The reasons, I admit, are not financial but emotional and practical. First, I want to make my own improvements to the place in which I live, rather than relying on a landlord's cheap plumbing and furniture. Second, I no longer want to risk being told I will have to move out in a couple of years. I am happy to pay for these privileges. And while I still believe a full-scale crash is not the most likely outcome, I am prepared for my house price to remain pretty much where it is now for the next few years - and, in a worst-case scenario, to fall a touch. However, if he is representative of sentiment then until people decide the ownership premium is not worth paying prices will probably plateau. JY Quote Link to comment Share on other sites More sharing options...
CrashDive Posted September 10, 2006 Share Posted September 10, 2006 "I, too, am a first-time buyer. Despite all the predictions of impending doom in the market, I am still delighted to have got hold of my place. The reasons, I admit, are not financial but emotional and practical. First, I want to make my own improvements to the place in which I live, rather than relying on a landlord's cheap plumbing and furniture. Second, I no longer want to risk being told I will have to move out in a couple of years. I am happy to pay for these privileges. And while I still believe a full-scale crash is not the most likely outcome, I am prepared for my house price to remain pretty much where it is now for the next few years - and, in a worst-case scenario, to fall a touch." http://www.telegraph.co.uk/property/main.j.../09/pword09.xml I agree with JY, not a very bright individual is Mr Conway. His "worst-case scenario" that he is prepared for is for prices "to fall a touch". Enough said. Quote Link to comment Share on other sites More sharing options...
CrashDive Posted September 10, 2006 Share Posted September 10, 2006 I too noticed that line and smiled at it's naivety. I wouldn't say he's not bright - he's just young and still has a lot to learn. The general tone of his column has changed considerably over the past few months, due partly I suspect to his visits to this forum. At least he is prepared to accept the possibility that prices could fall. Most importantly, we should bear in mind that his column appears in the Telegraph's property supplement. The only purpose of this banal and tedious supplement is to sell advertising space. Even if Conway believed (and wanted to state) that property could fall 30% he wouldn't be allowed to. End of story. Fair comment all round... Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.