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Guest The_Oldie

Bovis Homes

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Guest The_Oldie

Declan just had this to say on BBC Breakfast News...

On the housing market, a fairly sharp warning is just reaching us from Bovis homes. Now it told us that the amount of money it makes has fallen, but the warning is this; it says that sales of new homes will be sharply lower this year, unless what it calls decisive action is taken to cut interest rates and what it calls normal conditions return to the mortgage market.

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I saw this too and took it as a very public bit of menace aimed at Darling by Bovis.

They just haven't accepted the UK housing market isn't insulated from the global economy.

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http://uk.biz.yahoo.com/080310/214/hv6gc.html

Bovis calls for rate cuts as orders slide
| | |
LONDON (ShareCast) - Housebuilder Bovis Homes has seen a 20% reduction in reservations this year and warned that volumes could fall sharply unless there are big cuts in interest rates.

No one will be buying this year--unless they have not been listening to the news.

Welcome to the US style crash. It has begun.

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BOVIS HOMES GROUP (LSE:BVS.L)

Last Trade: 534.50 p

Trade Time: 8:18AM

Change: 43.00 (7.45%)

Prev Close: 577.50

Open: 560.50

Bid: 532.50

Ask: 534.50

1y Target Est: 589.33p

The market agrees with their gloomy outlook.

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I'm going to start lobbying for enormous cheques to be given to first time buyers.

I'm all in favour of that, just as long as I don't have to buy property with it :D

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I heard the Bovis guy on 5Live this morning saying that we needed rate cuts to 'release the pent up demand' HAHAHAHAHA

HAHAHAHAHAHAHAHA :lol::lol:

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This was another occasion were I’ve begun to shout at the radio, TV and even newspapers over the lies that VI’s are spinning (this mornings rant was directed at “Mr Bovis” not mentioning that the reason for the lack of sales is that the houses are too damn expensive in the first place).

Should I be worried about this increasing Pebble–like behaviour?

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I heard the Bovis guy on 5Live this morning saying that we needed rate cuts to 'release the pent up demand' HAHAHAHAHA

HAHAHAHAHAHAHAHA :lol::lol:

Think I just caught the tail end of the same guy on R4. Busy today, wonder where else he will pop up.

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It's the Newbuild sector that homeowners don't take into account when they say "If prices drop no-one will want to sell". Builders HAVE to sell so sales of newbuild set the market level.

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Think I just caught the tail end of the same guy on R4. Busy today, wonder where else he will pop up.

What is it they say? - any publicity is good publicity :lol::lol:

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Guest Bart of Darkness
unless what it calls decisive action is taken to cut interest rates and what it calls normal conditions return to the mortgage market

Yes, let's throw our inflation worries out of the window and bend over backwards to help companies get the kind of profits they think they deserve (note to Gordon, this is irony, not a viable policy suggestion).

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I heard the Bovis guy on 5Live this morning saying that we needed rate cuts to 'release the pent up demand' HAHAHAHAHA

HAHAHAHAHAHAHAHA :lol::lol:

And while they're at it maybe they should relieve the pent up demand for lots of other things as well....... ;)

Seriously though, how come all these builders are in the sh*t so quickly - they must have been RAKING it in for the last 5-10 years (especially the last 5, when they've been charging astronomical prices for low-cost tat put together by immigrants on subsistence wages). OK, so their cash flows might be a bit low right now, but many of their costs are easy to switch-off, too, compared to most other business sectors? Or has all the money been spent/offshored already?

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Love the way the BBC interviewers never suggests"cut your prices?"

ANd... the government keep banging on about how LOW the interest rates are now and BOVIS et al keep banging on about how HIGH they are..

SOmeone's telling a porky-pie!

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...unless what it calls decisive action is taken to cut interest rates and what it calls normal conditions return to the mortgage market.

Amazing how people have come to think that a "normal" market is prices rising at 20% a year.

"Normal" for the mortgage market will be people borrowing sums of money they can afford to repay with a 10% deposit to show they can manage money.

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Same bloke on Gloomberg:

"We need a reduction in rates" - Oh yeah, like any rate cut will be passed on as the banks recapitalise, and what about that old chestnut inflation

"We need mortgages to be made more available from lenders" - Hello? Does 'credit crunch' ring any bells?

"Shared equity and social provision will hit margin" - Will they now, well fancy that.

How about uttering, the words which should not be spoken.. "We've decided to cut our prices & margins"

KNOB!! :blink:

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And while they're at it maybe they should relieve the pent up demand for lots of other things as well....... ;)

Seriously though, how come all these builders are in the sh*t so quickly - they must have been RAKING it in for the last 5-10 years (especially the last 5, when they've been charging astronomical prices for low-cost tat put together by immigrants on subsistence wages). OK, so their cash flows might be a bit low right now, but many of their costs are easy to switch-off, too, compared to most other business sectors? Or has all the money been spent/offshored already?

The same goes for construction workers, they should have made a fortune over the last 10 years, which

should have set them up and be in a postition to get through the lean years but I bet many of them are'nt.

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This was another occasion were I’ve begun to shout at the radio, TV and even newspapers over the lies that VI’s are spinning (this mornings rant was directed at “Mr Bovis” not mentioning that the reason for the lack of sales is that the houses are too damn expensive in the first place).

Should I be worried about this increasing Pebble–like behaviour?

You're not the only one. After reading this morning that Alistair Darling wants to take the boom'n'bust out of housing, AFTER A 10 YEAR BOOM ENGINEERED BY THE **** HE WORKS FOR, I've been walking around the house like a caged lion.

Why aren't the media simply taking the P*** out of him and Brown? The so called economics correspondents of the serious press should be laughing in his face.

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You're not the only one. After reading this morning that Alistair Darling wants to take the boom'n'bust out of housing, AFTER A 10 YEAR BOOM ENGINEERED BY THE **** HE WORKS FOR, I've been walking around the house like a caged lion.

Why aren't the media simply taking the P*** out of him and Brown? The so called economics correspondents of the serious press should be laughing in his face.

When listening to radio / TV reports I’m willing the presenters to ask the right questions, but they rarely do.

Perhaps we should have an official HPC press resource page full of quality sound bites and “incisive” questions that we can direct lazy hacks & researchers to.

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When listening to radio / TV reports I’m willing the presenters to ask the right questions, but they rarely do.

Perhaps we should have an official HPC press resource page full of quality sound bites and “incisive” questions that we can direct lazy hacks & researchers to.

Good idea. But anything other than simply chewing the subject to death in this forum is not looked on favourably by people here.

The news feed on the home page is good. But it should be wider and have room for, as you say, concise responses and questions that challenge the VI nonsense being highlighted in the news feed.

Some weeks when Question Time is on and some New Labour pillock (often Hazel Blears - quick get the eggs) spounts on about 48 consecutive quarters of growth and nobody says "Yes but based on how much additional Government and Personal Debt (you daft mare)" - I find myself pacing the floor shouting at the box.

Still, better than suffering from road rage I suppose.

Edited by Lets' get it right

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Love the way the BBC interviewers never suggests"cut your prices?"

ANd... the government keep banging on about how LOW the interest rates are now and BOVIS et al keep banging on about how HIGH they are..

SOmeone's telling a porky-pie!

The interviewer on 5Live argued that dropping property prices would be good for buyers. The Bovis guy said that wasn't the case and it was lowering interest rates that would solve the problem. What a load or horse :lol::lol::lol:

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  • 292 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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