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No Wonder People Are Still Buying


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The current reporting by most media and the press releases seems somewhere between disingenuous, misleading or maybe just total b*llocks!

One of the latest quotes from HBOS about negative equity for example

“In 1992, 34 per cent of borrowers had loans-to-value of more than 90 per cent”

http://www.timesonline.co.uk/tol/money/pro...icle4438949.ece

It doesn’t matter if the reporting is about price falls, negative equity, unemployment or interest rates, they all seem to have the same mantra

“Compared to the HPC in the 90’s”

They compare figures from an entire HPC that lasted several years to our current HPC that has lasted several months

This HPC is only just beginning, so to compare the plight of people in negative equity today, compared to the same figure in 1992 is simply wrong

Try that figure two years from now and that would e a fair comparable

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The current reporting by most media and the press releases seems somewhere between disingenuous, misleading or maybe just total b*llocks!

One of the latest quotes from HBOS about negative equity for example

“In 1992, 34 per cent of borrowers had loans-to-value of more than 90 per cent”

http://www.timesonline.co.uk/tol/money/pro...icle4438949.ece

It doesn’t matter if the reporting is about price falls, negative equity, unemployment or interest rates, they all seem to have the same mantra

“Compared to the HPC in the 90’s”

They compare figures from an entire HPC that lasted several years to our current HPC that has lasted several months

This HPC is only just beginning, so to compare the plight of people in negative equity today, compared to the same figure in 1992 is simply wrong

Try that figure two years from now and that would e a fair comparable

Its spin. Its like this.. Ok house prices are down YOY but look at the prices 2 and 3 years ago, they are still up. Give it a few months and it will be.. Ok house prices are down YOY and but look at 3 years ago, they are still up.

Neglect to mention prices from 2 years ago. When they go negative on 3 years they will start quoting 4 years ago.

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Why use the 1992 figure? The crash was over two years in at that point and therefore the LTV's would be increased in line with the 2-years of drops already taken place.

A fair comparison to today would be with the figures for 1990.

the correction we've seen inside ten months is already greater than in the 90's and the trend is apocalyptic in comparison. For now comparing a six month loss with a three year one works for the talking heads on BBC etc. Inside the next 4 months it won't as the comparison will be too stark to use.

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The current reporting by most media and the press releases seems somewhere between disingenuous, misleading or maybe just total b*llocks!

One of the latest quotes from HBOS about negative equity for example

“In 1992, 34 per cent of borrowers had loans-to-value of more than 90 per cent”

Yes, but how many had loans of 125% ltv or 6 billion times wages

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