"the Only Way Is Down"

[W12]

I went looking through The Sunday Times this morning in search of my weekly dose of deluded drivel from David Smith, only to find that he's away this week. But his fill in is Fionnuala Earley from Nationwide, and she's sounding distinctly bearish.

http://property.timesonline.co.uk/tol/life...icle4443783.ece

[DementedTuna]

First Phil Spencer turns bear, and now this.

Guess the media bulls can only hold out for their VI masters for so long before something snaps and they become too tired of being forced to constantly make a complete idiot out of themselves on national television.

Edited August 3, 2008 by DementedTuna

[the end is a bit nigher]

"Ooooooh look, prices down 20% already. I had better turn bear or people will realise I haven't got a clue what i'm talking about. Although to be fair, no-one could have seen this coming".

Tossers the lot of them.

[Prof]

Two positive things to take from this article.

1) House prices are getting cheaper.

2) No more grinning Fionulala on the news every month.

Result !

[uncle_monty]

"Ooooooh look, prices down 20% already. I had better turn bear or people will realise I haven't got a clue what i'm talking about. Although to be fair, no-one could have seen this coming".

Tossers the lot of them.

This is a very important article IMO.

It is an honest appraisal from one of the leading VIs. Although she still believes the crash to be a short-term phenomenon, it is now only a matter of time until the General Public twig and finally see the truth.

Further bad news from September (GDP, inflation, further falls in HP) should get "Joe Average" to finally wake up, especially when redundancies begin to bite.

I predict that the scramble for the final 40-man lifeboat on the Titanic will be brutal. Anyone who has been on this forum for >1 year should be nestled safely on a nearby iceberg, with a blanket, cigarette and a bottle of brandy, having disembarked sometime ago.

[the end is a bit nigher]

I predict that the scramble for the final 40-man lifeboat on the Titanic will be brutal. Anyone who has been on this forum for >1 year should be nestled safely on a nearby iceberg, with a blanket, cigarette and a bottle of brandy, having disembarked sometime ago.

I was going to slate her in the comments section but you can only write about 4 words. She hasn't yet grasped that people are fed up with high house prices.

[Van]

Great. It' sall a gradual process. When these very pundits are saying "Property is DEAD" and everyone believes them is about when the market will really find a bottom.

[talksalot81]

"Ooooooh look, prices down 20% already. I had better turn bear or people will realise I haven't got a clue what i'm talking about. Although to be fair, no-one could have seen this coming".

Tossers the lot of them.

Which makes it even more laughable that there are 'amateur' elements who still hold that property will NOT crash.

[VeryMeanReversion]

I was going to slate her in the comments section but you can only write about 4 words.

3 should be enough.

VMR.

[Dave Spart]

If you look just to the right and down a little, next to Fionulalalalala's article there's a section entitled COMMENT. The proposition is "The credit crunch may not end until 2017 - so should we buy now?"

[Prof]

This is a very important article IMO.

It is an honest appraisal from one of the leading VIs. Although she still believes the crash to be a short-term phenomenon, it is now only a matter of time until the General Public twig and finally see the truth.

Further bad news from September (GDP, inflation, further falls in HP) should get "Joe Average" to finally wake up, especially when redundancies begin to bite.

I predict that the scramble for the final 40-man lifeboat on the Titanic will be brutal. Anyone who has been on this forum for >1 year should be nestled safely on a nearby iceberg, with a blanket, cigarette and a bottle of brandy, having disembarked sometime ago.

I don`t drink brandy, so I`ve got 8 x cans of Stella and a packet of chilli tortilla chips. Will I be OK ?

[The Ayatollah Buggeri]

"Ooooooh look, prices down 20% already. I had better turn bear or people will realise I haven't got a clue what i'm talking about. Although to be fair, no-one could have seen this coming".

Precisely. These people can realise that they can only contradict what people are experiencing around them for so long before their credibility disappears. I noted that Earley was subtly trying to swing the argument towards misplaced sentiment, but even so it was pretty half-hearted.

The last bastion will, of course, be Krustie...

[Prof]

I was going to slate her in the comments section but you can only write about 4 words. She hasn't yet grasped that people are fed up with high house prices.

I felt compelled to have a "pop". So I did. Agreed, you can only write a few words (I`m sure they know what kindof response they`re going to get), but it`s an opportunity not to be missed.

[Leonard Hatred]

I stand by her rating on the disgraceometer

[Prof]

I stand by her rating on the disgraceometer

I think she should move slightly to the right, and stand between Declan Curry and Anne Ashworth.

[Mr Yogi]

If you look just to the right and down a little, next to Fionulalalalala's article there's a section entitled COMMENT. The proposition is "The credit crunch may not end until 2017 - so should we buy now?"

If you follow that link you get a very dull and stupid article.

One of the comments is a classic, however.

Banks will be reverting to traditional salary multiples for mortgages and a buyer will need a 25%+ deposit. This is the real credit contraction. The great British public will first have to clear its debts before saving for a deposit. We are talking years before any glimmer of a recovery.

Edited August 3, 2008 by Mr Yogi

[juvenal]

Precisely. These people can realise that they can only contradict what people are experiencing around them for so long before their credibility disappears. I noted that Earley was subtly trying to swing the argument towards misplaced sentiment, but even so it was pretty half-hearted.

The last bastion will, of course, be Krustie...

I predict an imminent Hitler-in-the-bunker style announcement from a still battling Krustie:

'If only HIPS and Stamp Duty were cancelled, this war would stop!!!'

She's been too quiet of late....

[bobthe~]

I predict an imminent Hitler-in-the-bunker style announcement from a still battling Krustie:

'If only HIPS and Stamp Duty were cancelled, this war would stop!!!'

She's been too quiet of late....

Well the question is, now that her buddy Phil has seen the writing on the wall, is she still talking to him?

Will the next series of LLL be her and her sister, who they shamelessly plonked on the More4 follow on (can't be bothered to find out what it is called)?

Or would it be....

Trinny and Susannah?

[Ash4781]

Someone's put one of David Smith's old quotes on the comments.

"Mere mention of a slowdown brings the 'crash' obsessives out in force, their latest ammunition being the problems in the American sub-prime market. That has as much relevance to Britain’s housing market as the baseball world series has to whether Chelsea or Manchester United will win the Premiership

David Smith, London, "

http://business.timesonline.co.uk/tol/busi...icle1625932.ece

Edited August 3, 2008 by Ash4781

[thecrashingisles]

Well the question is, now that her buddy Phil has seen the writing on the wall, is she still talking to him?

Will the next series of LLL be her and her sister, who they shamelessly plonked on the More4 follow on (can't be bothered to find out what it is called)?

Or would it be....

Trinny and Susannah?

I think she should become a US style TV-evangelist telling everyone to pray for house prices to go up and donate generously to save the property market.

[Guest Shedfish]

Which makes it even more laughable that there are 'amateur' elements who still hold that property will NOT crash.

not forgetting the professionals, such as Stuart Law from Assetz

now there's a man with his finger on the pulse...

(of a 1-year-dead bull corpse)

[Guest sillybear2]

"The only way is down" (For Interest Rates)

Can't you see, still VI spin for the MPC.

[juvenal]

not forgetting the professionals, such as Stuart Law from Assetz

now there's a man with his finger on the pulse...

now there's man who has been on the piss....

[The Masked Tulip]

I predict that the scramble for the final 40-man lifeboat on the Titanic will be brutal

Women and tranvestites first! Drag Queens, sing a final retort of "We'll Meet Again," take 2 ovations and then off with the stilletos and over the side with you!

Personally speaking, I am convicned that 90% of people in so-called important but highly paid positions live in constant fear of being exposed for not having a clue what they are doing or talking about not have the business nounce to actually succeed.

In the dot.con crash all these great business execs were exposed as merely haven ridden a huge bubble where even an idiot could be considered a fantastic business leader. It is only in the downturns that you find out if people are any good - the dot.con bust exposed the majority as being idiots IMPO - and the run-up to the downturns when people actually have the knowledge and the courage to shout about the dangers.

It seems now that a lot of people are quickly jumping on the bear property train in order to justfiy their positions - so much for leaders!

[dryrot]

I went looking through The Sunday Times this morning in search of my weekly dose of deluded drivel from David Smith, only to find that he's away this week. But his fill in is Fionnuala Earley from Nationwide, and she's sounding distinctly bearish.

http://property.timesonline.co.uk/tol/life...icle4443783.ece

Time to update my .sig?