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eric pebble

How The Vested Interest Media Gets It So Wrong...

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Lovely quote from this article: - http://www.marketoracle.co.uk/Article5563.html

"Whilst I was penning articles warning of the impending house price crash, much of the media was again following the line as pumped out by press release after press release by vested interests in a stable housing market as I warned would occur in September 2007, and as illustrated by the following headlines -

UK house prices will escape America's crash - Liam Halligan , I agree the economy is weak. And a sharp drop in house prices isn't impossible. But, in my view, the evidence strongly suggests it won't happen. - Telegraph , (March 27, 2008) - I wonder how much the Telegraph pays for such 'accurate' commentary barely a week before the UK's House Price Crash Began !

UK house prices rebound strongly in February - Telegraph.co.uk - Miles Shipside, commercial director of Rightmove, said: "It's not the start of another price boom, but the interest rate cuts have no doubt given some sellers headier hopes." (Feb 19, 2008) - A single month corrective bounce within an established downtrend as the graphs clearly illustrate, was taken completely out of context.

UK house prices may defy the doomsayers - House prices across the nation will defy the doomsayers this year and settle to an average growth of 3pc, according to latest research from CB Richard Ellis. CB Richard Ellis says homeowners are in for a slowdown, not a crash. The group has even predicted that London will outperform the market at 6pc. - Telegraph (Jan 18, 2008) - Really a 3% growth for 2008 ? House prices are already down 9% on the start of the year with 5 months to go!

RICS sees unchanged UK house prices in 2008 despite initial weakness - The UK housing market could experience some near term weakness, but house prices should remain broadly unchanged next year, according to the Royal Institution of Chartered Surveyors. - Forbes - Dec 19, 2007 - House Prices are forecast to fall by 11% in 2008, RICS best stick to surveying rather than forecasting housing market trends.

UK house price inflation to drop to zero by Nov 2008 - Nationwide... - UK house price growth will slow to a halt next year, even if the Bank of England cuts interest rates, the Nationwide building ... ( Nov 16, 2007) - Forecast UK House Prices inflation will be - 11% By November 08, the Nationwide is consistently WRONG!

UK house prices to rise 40% by 2012 - UK house prices will increase 40% over the next five years because of a shortage of properties, a report by the National Housing Federation said. The average value of a home will rise to £302,400 ($618,000) by 2012, the London-based organisation, which represents 1,300 housing associations, said. Prices in London will jump 48% to £478,300. - (Aug 7, 2007) - The Icing on the Cake - 40% rise forecast at the precise peak of the UK housing market, I bet it seemed like a safe call at the time to forecast a gain of approx 8% per annum by a vested interest in a housing bull market.

and the list goes on and on.................."

:D:D:D

Edited by eric pebble

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Hell's teeth Mr Pebble, you have been working hard!

What a hugely awful list of 'Ne'r Do well' reporting, it goes way beyond the accepted 'Don't believe all that you read'

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How The Vested Interest Media Gets It So Wrong...

Any chance of retitling this to "How Salesmen aren't always 100% right"? With the best will in the world, Fee Noo Ler Early (sorry, can't spell it) is hardly likely to say "anyone who enters the market now is a complete dick with no basic grasp of numbers, let alone finance", any more than the salesman in your local Beemer dealership is likely to tell you "to be honest, for most driving* the difference between this top of the range 5-series and a 10-year old Nissan Micra* is a more comfy seat and a better stereo, wanna spend the extra £40k plus running costs to feel that difference? Nah, though not...".

* For heavy motorway users, substitute Vauxhall Carlton here.

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The latest spin being desperate FTBs (First Time Buyers) can't get mortgages, they are fighting tooth and nail to get on the overpriced property ladder :lol::lol: . Little mention of BTL (Buy To Let)woes and DTS (Desperate To Sell) unable to offload their properties to other suckers.

No mention that nearly all FTBs are just sitting and relaxing and watching the BIGGEST PROPERTY CRASH ever recorded. Why buy now wait 1 or 2 years and get 80K off. :lol::lol:

Its amazing when property was going up no one gave a stuff about FTBs when its crashing its a different story

Edited by joey

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Cheers, Eric - I've been meaning to do this for ages but couldn't find the time.

I reckon house price-themed copies of the Express are going to be comedy gold dust in a few years' time - especially the one that, 4 months into falling prices, told us that they were still going up :lol:

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UK house prices will escape America's crash - Liam Halligan , I agree the economy is weak. And a sharp drop in house prices isn't impossible. But, in my view, the evidence strongly suggests it won't happen. - Telegraph , (March 27, 2008) - I wonder how much the Telegraph pays for such 'accurate' commentary barely a week before the UK's House Price Crash Began !

And now the telegraph and its editors and highly leveraged "reporters" are clinging to desperate hope that the government can come to the rescue by printing more money and lending it to mortgage lenders. James Crosby will complete his report in October. Let's hope the government ignores it and does what is right for the electorate and not what is right for the private banking cartel http://www.telegraph.co.uk/money/main.jhtm...7/cnplan127.xml

Edited by BarrelShifter

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Cheers, Eric - I've been meaning to do this for ages but couldn't find the time.

I reckon house price-themed copies of the Express are going to be comedy gold dust in a few years' time - especially the one that, 4 months into falling prices, told us that they were still going up :lol:

I've kept a couple of the local Estate Agent pamphlets from last Summer for the comedy value when I finally get round to seriously looking to buy.

"Seriously Mr. Paddles, this IS the market price for this type of property"

"Really? How can I believe that; when you would have been showing me THIS flyer and telling me that THIS was the market value last year?".

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Cheers, Eric - I've been meaning to do this for ages but couldn't find the time.

I reckon house price-themed copies of the Express are going to be comedy gold dust in a few years' time - especially the one that, 4 months into falling prices, told us that they were still going up :lol:

Too right Sir Talbot!! :P

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  • 396 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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