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Naughty Times!


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Was reading, with interest, the letters page today in the TIMES.

Evan Davies (of the BBC) wrote in complaining that is his comments were misinterpreted with the 'Housing is a good Investment' statement! He strongly denied that he thought it was a GOOD TIME TO BUY. He said that his views are the opposite, and he expects prices to fall...

Dunno if the letters are used on the times online?

Nice to see Evan make it clear, he is BEAR and not a BULL ;)

TB

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Guest muttley
Dunno if the letters are used on the times online

Here's the link

Letters To The Editor

Sir, I was surprised to see an article with the front page banner “Why property is a good bet” (March 23, 2007) apparently referring to the interview I gave to your property supplement. That heading, and the separate title “Safe as Houses?”, might have inadvertently given the impression that I am one of those people who think this is a good time to invest in housing.

This is not my view. As it happens, I expect property prices will probably fall, but I didn’t spell that out as my personal prediction is of little value.

I did try to make a more subtle point, that even if the market is inflated with speculative froth it can be wise to buy a house if you know you’ll need one in the future, because it can act as an insurance policy against further price rises should they occur. That’s very different to arguing that it’s a good time to speculate on property.

EVAN DAVIS

Economics Editor, BBC

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Guest wrongmove

Property prices

Sir, I was surprised to see an article with the front page banner “Why property is a good bet” (March 23, 2007) apparently referring to the interview I gave to your property supplement. That heading, and the separate title “Safe as Houses?”, might have inadvertently given the impression that I am one of those people who think this is a good time to invest in housing.

This is not my view. As it happens, I expect property prices will probably fall, but I didn’t spell that out as my personal prediction is of little value.

I did try to make a more subtle point, that even if the market is inflated with speculative froth it can be wise to buy a house if you know you’ll need one in the future, because it can act as an insurance policy against further price rises should they occur. That’s very different to arguing that it’s a good time to speculate on property.

EVAN DAVIS

Economics Editor, BBC

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Guest wrongmove
Fair comment... it's my scouse nature. I have to think of something witty for a headline. FACT is boring ;)

TB

:P

Nice one TB - don't know how I missed it. My titles certainly lack creative flair. :)

Anyway, great letter from ED - summarises my own view very well,

i.e. housing is a very bad investment at the moment, but remember that refusing to buy a place to live in carries its risks too.

Does that make me a bear?

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A silly point.

Equally, it could be wise to rent, and stay out of housing, since the speculative froth may disappear.

Where do they find these people?

No. It's not a silly point. Buying now is an insurance policy against future rises. But it might be an expensive insurance policy. Doesn't stop it being an insurance policy.

I've had insurance for a car ever since I've owned one. Never made a claim. Quite expensive.

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No. It's not a silly point. Buying now is an insurance policy against future rises. But it might be an expensive insurance policy. Doesn't stop it being an insurance policy.

I've had insurance for a car ever since I've owned one. Never made a claim. Quite expensive.

Indeed expensive but that is why one shops around for insurance to get the quote down each year. Plus buying a house isn't a necessity, one can always rent.

Though I am confused by Evans' complaint. Listening to his radio 4 series 'the price of property' and seeing him give his comments on the bbc news about houses I would say he certainly is all for buying a house, house price inflation or no house price inflation. Now he's saying it's not what he's saying.. he believes it is NOT a good time to buy ?

That's not the impression I get from him. Though to me, he's now giving out confusing signals as to where he stands as regard house prices.

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Though to me, he's now giving out confusing signals as to where he stands as regard house prices.

Well who isn't confused by the current non-sensical market? Isn't he saying that if you can afford it, even with interest rate rises and you want to, buy a house but if it is purely to speculate, don't bother?

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