cynic Posted September 10, 2008 Share Posted September 10, 2008 At 2hrs 40 mins (just after the hadron feature) on iplayer http://www.bbc.co.uk/iplayer/console/b00d8mzy Evan Davis talking to Michael Coogan and some other bod on r4's 'Today' Amongst some real corkers:- "Why buy a house now if it's cheaper in a year's time." "Do we wan't a rapid correction in one go?" "Were bordering on being able to use the description of property 'crash'" "What we're trying to ensure is we don't overshoot by coming out with comments like this." "There is this danger that we'll overshoot." "What would be overshooting?" - "I'm not going to speculate what a big number would look like" "I think if we see property fall by 50% - that would be an overshoot." ....so.....50% it is then. ....teehee.... Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted September 10, 2008 Share Posted September 10, 2008 At 2hrs 40 mins (just after the hadron feature) on iplayerhttp://www.bbc.co.uk/iplayer/console/b00d8mzy Evan Davis talking to Michael Coogan and some other bod on r4's 'Today' Amongst some real corkers:- "Why buy a house now if it's cheaper in a year's time." "Do we wan't a rapid correction in one go?" "Were bordering on being able to use the description of property 'crash'" "What we're trying to ensure is we don't overshoot by coming out with comments like this." "There is this danger that we'll overshoot." "What would be overshooting?" - "I'm not going to speculate what a big number would look like" "I think if we see property fall by 50% - that would be an overshoot." ....so.....50% it is then. ....teehee.... Of course if prices fall 50% it won't be an overshoot! Prices will still be higher as a multiple of incomes than they were in 1997. A drop of 50% will merely be a correction. An overshoot would be more like 60-70%. Quote Link to comment Share on other sites More sharing options...
JustYield Posted September 10, 2008 Share Posted September 10, 2008 ....so.....50% it is then. Nice symmetry - what's 50% of a price that's tripled? 50% all round - everyone's happy, no? Quote Link to comment Share on other sites More sharing options...
Guest An Bearin Bui Posted September 10, 2008 Share Posted September 10, 2008 At 2hrs 40 mins (just after the hadron feature) on iplayerhttp://www.bbc.co.uk/iplayer/console/b00d8mzy Evan Davis talking to Michael Coogan and some other bod on r4's 'Today' So it clearly wasn't as bad as I thought - I had Radio 4 on as well and was listening to the Large Hadron Collider story but then Evan Davis' reedy little voice came on and I heard the dreadful words 'And with me now to discuss house prices is Michael Coogan, from the Council of Mortgage Lenders...' and that was when I switched off the radio. I cannot STAND that man - he is an inveterate, shameless liar. 'There's a danger we could be talking the market down' - well, no-one was worried two years ago when Coogan et al were talking hte market up and hyping property to pressurise everyone into panic-buying before they were priced out forever and ever and ever. Yet somehow we're all supposed to be concerned now in case the media is talking the market down... Quote Link to comment Share on other sites More sharing options...
Jonnybegood Posted September 10, 2008 Share Posted September 10, 2008 Nice symmetry - what's 50% of a price that's tripled? 50% all round - everyone's happy, no? Whats 50% of a property thats doubled. Yes, I would be happy. They cannot pull these figures out the air, 50% off what, everything, end of line, new homes , apartments. What do they think this is an end of season sale. Muppets Quote Link to comment Share on other sites More sharing options...
Ponzi Posted September 10, 2008 Share Posted September 10, 2008 The other guy is property entrepreneur Henry Pryor a favourite at MoneyWeek roundtables. http://www.hclp.co.uk/ Quote Link to comment Share on other sites More sharing options...
@contradevian Posted September 10, 2008 Share Posted September 10, 2008 Hmm a propery developer and a guy representing mortgage sellers disussing house prices. Seems a perfectly balanced panel for the BBC! Quote Link to comment Share on other sites More sharing options...
Gorseinonboy Posted September 10, 2008 Share Posted September 10, 2008 So it clearly wasn't as bad as I thought - I had Radio 4 on as well and was listening to the Large Hadron Collider story but then Evan Davis' reedy little voice came on and I heard the dreadful words 'And with me now to discuss house prices is Michael Coogan, from the Council of Mortgage Lenders...' and that was when I switched off the radio. I cannot STAND that man - he is an inveterate, shameless liar. 'There's a danger we could be talking the market down' - well, no-one was worried two years ago when Coogan et al were talking hte market up and hyping property to pressurise everyone into panic-buying before they were priced out forever and ever and ever. Yet somehow we're all supposed to be concerned now in case the media is talking the market down... If you had stayed with it you might have gleaned how difficult it is becoming for the likes of Michael Coogan and other VI types to be able to defend their stances. I wish they had invited someone in ~ say an ordinary member of the public wanting to buy a house ~ to sit alongside these guys and just put a simple view of wanting the market to come down so that affordability is possible again. Quote Link to comment Share on other sites More sharing options...
cynic Posted September 10, 2008 Author Share Posted September 10, 2008 (edited) If you had stayed with it you might have gleaned how difficult it is becoming for the likes of Michael Coogan and other VI types to be able to defend their stances. I wish they had invited someone in ~ say an ordinary member of the public wanting to buy a house ~ to sit alongside these guys and just put a simple view of wanting the market to come down so that affordability is possible again. All in all I thought it a fair display of auto-foot shooting. How can anyone - even a VI - talk about the "danger of talking about...." without risking the danger? And their banter left me feeling the 25% is now a tacit admission - even by them - that it's the minimum we can expect. Yes, it's a shame the benefits of a crash aren't underscored more often (Evan Davis for all his chameleonism did actually allude to this at least once) and of course an aspiring FTB would make the case but this would be at total odds with the aspirations of most existing OOs who outnumber him. It's the OOs who need to learn the lesson. The relative few who actually do benefit from HPI - BTLers/downtraders and multiple-home owners can all go and f*ck themselves. (edit: FTB not FBI - one of my increasingly frequent senior moments) Edited September 10, 2008 by cynic Quote Link to comment Share on other sites More sharing options...
RichB Posted September 10, 2008 Share Posted September 10, 2008 Coo... no-one immigration bashing on the basis of the thread title? Quote Link to comment Share on other sites More sharing options...
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