Sledgehead Posted April 9, 2008 Share Posted April 9, 2008 (edited) Coming some time in the next 45 minutes (now 08:40, should be i-player viewable at some point). Lovely to see this ahead of the usual avalanche of morning TV indoctrination, Here we go: Richard Bicknell, FTB, says the words "Property Crash" and says he sees a crash coming soon. He says he is happy to rent. Hasn't come to this decision lightly. Now back to the couch - oh no VIs? NO, THIS IS PRETTY GOOD: Jasmine Birtles Moneymagpie : - "Weaker prices are good for FTBs. Property is massively overvalued." Gary McCausland - Developer : - "We are at the top of the cycle." Offer 20% less than the market. Minchen : " "0% less!" Jasmine : " I'd actually wait. Not at the top of the marklet, properties started to dip Not in 1990s - unemployment etc Edited April 9, 2008 by Sledgehead Quote Link to comment Share on other sites More sharing options...
chichi Posted April 9, 2008 Share Posted April 9, 2008 On now for the second time Quote Link to comment Share on other sites More sharing options...
Guest KingCharles1st Posted April 9, 2008 Share Posted April 9, 2008 Watched it earlier- bloke seems intelligent- sort of IT + gym usertype. Whatever- he has realised that his money is safe as houses- ONLY WHEN ITS NOT IN HOUSES Quote Link to comment Share on other sites More sharing options...
CrashedOutAndBurned Posted April 9, 2008 Share Posted April 9, 2008 That's not really a case of getting 'cold feet', more a case of not being a 'complete and utter freaking moron by by buying some overpriced hole at the start of a major house price crash'. Quote Link to comment Share on other sites More sharing options...
chichi Posted April 9, 2008 Share Posted April 9, 2008 (edited) On now for the second time Jasmine says offer 20% below. And the bloke says it's mortgage mis-selling. 125% mortgages are wrong. Edited April 9, 2008 by chichi Quote Link to comment Share on other sites More sharing options...
scuuzeme Posted April 9, 2008 Share Posted April 9, 2008 So they suggest that you offer 20% below asking price, and yet deny that we are at the top of the market and prices will fall. With straight faces. Quote Link to comment Share on other sites More sharing options...
Leonard Hatred Posted April 9, 2008 Share Posted April 9, 2008 Caught a flick of something at 7:40 - who was the delusional "very strong economy, low interest rates" tool? Quote Link to comment Share on other sites More sharing options...
Eddie_George Posted April 9, 2008 Share Posted April 9, 2008 Jasmine says offer 20% below. And the bloke says it's mortgage mis-selling. 125% mortgages are wrong. The bloke was contradicting himself: bloke: 125% mortgages are the problem, this happened a lot in America and to a lesser extent here. presenter: so, how many of these 125% mortgages are there in Britain? bloke: loads Quote Link to comment Share on other sites More sharing options...
Guest pioneer31 Posted April 9, 2008 Share Posted April 9, 2008 (edited) An irish property developer.. We won't have a crash here because interest rates aren't at 10% and we don't have high unemployment. and neither does the US paddy! He thinks he's talking to Sun readers Edited April 9, 2008 by pioneer31 Quote Link to comment Share on other sites More sharing options...
Sledgehead Posted April 9, 2008 Author Share Posted April 9, 2008 So they suggest that you offer 20% below asking price, and yet deny that we are at the top of the market and prices will fall.With straight faces. That Gary, the Irish developer, is doing nothing to eradicate the "Englishman, Irishman, Scotsman" stereotype. Gary : "We're at the top of the cycle." Bill: "Then why should people buy if prices have peaked?" Gary: "They haven't peaked. They are dipping." Holy f**k, how stupid is he? Quote Link to comment Share on other sites More sharing options...
Normal Posted April 9, 2008 Share Posted April 9, 2008 He thinks he's talking to Sun readers With the quality of reporting on the Beeb these days he probably is. Quote Link to comment Share on other sites More sharing options...
Guest pioneer31 Posted April 9, 2008 Share Posted April 9, 2008 I'm certainly no Economics expert but how come I know more about the state of the economy than those two 'professionals' on the BBC couch. Should I switch careers? Quote Link to comment Share on other sites More sharing options...
Leonard Hatred Posted April 9, 2008 Share Posted April 9, 2008 We won't have a crash here because interest rates aren't at 10% Just like Ireland, which is slumping and we don't have high unemployment. Just like Ireland, which is slumping Quote Link to comment Share on other sites More sharing options...
adamLancs Posted April 9, 2008 Share Posted April 9, 2008 They weren't connected by the sounds of it. The guy said some stupid things but Jasmine from moneymagpie.com was right on: - Prices are 30% overvalued. - FTB'ers should wait at least a year. - If you have to buy start with an offer 20% less than asking! - If you have to sell then make your place look attractive and use lowest valuation (and pray). Quote Link to comment Share on other sites More sharing options...
lets get it right Posted April 9, 2008 Share Posted April 9, 2008 With the quality of reporting on the Beeb these days he probably is. Bill Turnbull sitting there this morning with red hair! Men that dye their hair .... well just pillocks really. Bird with him did a simpering, girlish 'I'm a teenager with a crush' interview of George Clooney. He's pretty grey and clearly not bothered by it. But, then again, he doesn't work for the BBC. Quote Link to comment Share on other sites More sharing options...
grey shark Posted April 9, 2008 Share Posted April 9, 2008 That Gary, the Irish developer, is doing nothing to eradicate the "Englishman, Irishman, Scotsman" stereotype. Gary : "We're at the top of the cycle." Bill: "Then why should people buy if prices have peaked?" Gary: "They haven't peaked. They are dipping." Holy f**k, how stupid is he? Very Quote Link to comment Share on other sites More sharing options...
joey Posted April 9, 2008 Share Posted April 9, 2008 The latest from the BBC "Offer 20% off the price and FTBs wait a year" . wow it took five years to get that last crash and 20% was considered a crash. Looks like we are heading for 40% to 50% drops this time around with 20% drops classed as a Soft Landing. Quote Link to comment Share on other sites More sharing options...
Sledgehead Posted April 9, 2008 Author Share Posted April 9, 2008 I've been re-watching it and it is pure quality. The bull, Gary, an Irish developer, who just happens to be a TV presenter (or maybe it's the other way round!) was a mass of contradiction. Can't find it on i-player tho. Quote Link to comment Share on other sites More sharing options...
sambino Posted April 9, 2008 Share Posted April 9, 2008 Bill Turnbull sitting there this morning with red hair!Men that dye their hair .... well just pillocks really. Bird with him did a simpering, girlish 'I'm a teenager with a crush' interview of George Clooney. He's pretty grey and clearly not bothered by it. But, then again, he doesn't work for the BBC. Was it that blond bird with short hair ? She started gibbering about kids programs last week and gets really excited if some fit looking bloke is on, if they asked her to explain anything complicated she wouldnt have a clue Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted April 9, 2008 Share Posted April 9, 2008 So weve had about 5% falls from peak, add 20% say 25% off from peak. Prices gone up 180% in last 10 years accoring to Brown ( I thought it was much more), now the rise is only 135%. Thats less than 3% per year on average. Course, the figures dont reflect that. Quote Link to comment Share on other sites More sharing options...
James Taylor Posted April 9, 2008 Share Posted April 9, 2008 Great to see the great Bill Turnbull put on a Scottish accent and say "we're doomed; we're all doomed!" Quote Link to comment Share on other sites More sharing options...
sikejsudjek Posted April 9, 2008 Share Posted April 9, 2008 Same old lies. '..and of course we have a strong economy'. That would be why sterling is falling to record lows against the Euro, why real inflation is at least 6%, why wages are not keeping up, why the PSBR is in a mess, and why we have one third of all Europe's personal debt. Oh and rising mortgage rates despite base rate cuts, and massive rises in the cost of running a home. Add to that the need for Gordon to make big cuts in spending or rises in taxation. Amazing the quality of these so called experts. Did they find them down the pub ? Its going to be carnage out there. Only now is the penny beginning to drop. Quote Link to comment Share on other sites More sharing options...
Bug16 Posted April 9, 2008 Share Posted April 9, 2008 (edited) I thought it was hilarious when the developer kept spouting "IR's not 15%, very low inflation, low unemployment, blah blah" I thought it was Gordon Brown in disguise. Either way it was good to hear the potential FTB saying "Crash" all the time on the BBC. Edited April 9, 2008 by Bug16 Quote Link to comment Share on other sites More sharing options...
Sledgehead Posted April 9, 2008 Author Share Posted April 9, 2008 (edited) I think you guys must have watched a different piece to me. This was far, far removed from the unfettered ramping we have previously seen. The moneymagpie woman was unequivocally bearish, trotting out the IMF 30% overvaluation stat, disuading people from buying generally and telling those that must to offer 20% below asking. I loved Louise Minchen's ejaculatory response : "20%!" Brilliant stuff imho, and all less than 20 mins b4 "To buy or not to buy." Anyone watching Digby etc after that must have suffered a red pill experience. Will they ever trust the property rampers again? Edited April 9, 2008 by Sledgehead Quote Link to comment Share on other sites More sharing options...
chichi Posted April 9, 2008 Share Posted April 9, 2008 I think you guys must have watched a different piece to me. This was far, far removed from the unfettered ramping we have previously seen. The Did you watch the early one or late one? They had the same FTB video but the interview was a bit different. That prop dev bloke wasn't having any of it in either but did concede more in the second interview, re: 125% mortgages Quote Link to comment Share on other sites More sharing options...
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