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House Price Crash Forum

Kirsty Now Joining In The Euphemisms

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T Macdonald "show" Sept 7:-

Ah...dear Kirsty, that sweet face and beautiful complexion doesn't hide the obvious attempts to avoid at all costs saying "prices are falling". Our intrepid expert used a number of euphemisms to circumlocute her way around the one phrase she dare not say.

All manner of alternatives were put forward, chiefly that somehow buyers were simply "holding back" and that property movements were "static", or the market had "paused", or (most used cliche) the housing transactions had "slowed".

If buyers are holding back then it is because they are refusing to cough up cash for overpriced homes. No other explanation is possible.

Note, by the way, that every single person interviewed, apart from a vendor or two, were vested interest professionals in the game of house selling, whether they were mortgage lenders, financial wizzos or EA's.

The one INDEPENDENT person NOT re-interviewed was the Warwick University professor who "wrongly" predicted a price crash. He was not invited to comment on his supposed gaff. In fact the professor has predicted correctly, but his mistake was that he was perhaps one year or so too early. Apart from this flaw I believe he is still right and his prediction is now on course.

What the program completely failed to point out is that there is now ample evidence that prices are consistently coming down, and a great deal more than the most pessimistic claim of 2%. Already I have seen reductions exceeding 10% as a perfectly provable norm. But even this percentage does not take into account that thousands of sellers are holding on, or in desperation attempting to let, or even simply withdrawing their property in the forlorn hope that a "recovery" will miraculously happen.

This all happened in 1989 in almost exactly the same way. It took the "professionals" like Kirsty and co a good two years before they finally admitted the game was up.

People have such short memories.


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