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Guest An Bearin Bui

Music To H P C Ears - Bbc World Business Daily

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Guest An Bearin Bui

Just caught the BBC World Business Daily show this morning and it was like music to my ears. They were running a special focus report on "the subprime crisis" (aka HPC) in the US:

BBC World Business Daily - Listen

David Willis presents Business Daily from California with interviews with a loser and a winner from the sub-prime crisis there. David meets a woman who tells him how it feels to lose the roof over her head. And he visits the beautiful home of the man who made half a billion dollars because of the collapsing American property market.

Classic moment: BBC interviewer says "But why did people think house prices could never fall?" - er, maybe because irresponsible journalists (much like his colleagues at BBC National) have been ramping the market and telling lies about house prices ever since 2001? Maybe because it was in the interests of the government to suppress information and ignore fraud to keep the house price gravy train going? You had to be a very strong-minded individual to resist HPI hype over the last 5-ish years so it is ironic to me that a BBC journalist is now questioning the "house prices only ever go up" mentality. Suddenly everyone wants to be a housing bear now that the market has turned... :P:rolleyes:

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Think the banking industry might have a few questions to answer too. :P

But it looks as though we are going to provide the answers. We've already answered the questions Northern Rock posed. The American taxpayer has come to the aid of Bear Stearns. Seems we're going to be asked to bail the banks out and they'll get away with irresponsible lending leaving a huge percentage of the population with huge mortgages held against depreciating assets.

Nice work if you can get it.

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Guest An Bearin Bui

Bump

I know there's a deluge of bearish media coverage out there but this is definitely worth a listen - just to hear a BBC journalist admit the truth, if nothing else :D

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  • 295 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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