Monday, May 08, 2006

The Bust Has Started When ...

New statesman: Touch me, feel me, renovate me

Jocular yet insightful article describing how to accurately understand what is happening in the market and why the boom has gone on. Touches upon the long term effects of a property boom. Some would call this a cynical view.

Posted by Talking_Rot @ 03:50 PM (651 views)
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4 Comments

1. Ticktock said...

Great article. Funny,true, and very cynical indeed!

Monday, May 8, 2006 04:41PM Report Comment
 

2. Paul said...

Seems spot on to me, in my naiive uninformed world.

I liked the folllowing:

"It must be seen as rational and predictable - an identifiable entity to which various authorities (mortgage lenders, estate agents, television presenters) can bring their "professional" expertise."

That's the issue in a nutshell - they're happy to give their advice (for a fee) but are completely unwilling to inform their customers, and the customers' blind acceptance of their word fuels the market more.

Monday, May 8, 2006 06:31PM Report Comment
 

3. Talking_rot said...

There's a saying in my line of work, "A cynic is some one who sees the World as it really is, rather then the way they are told to see it." The following lines says it all "why are vertiginous house prices seen as the sign of a healthy economy? The answer is that huge financial industries, along with subsidiary industries based on interior design, furnishings and refurbishment, have developed to lock people into these systems of debt and equity."

Monday, May 8, 2006 07:31PM Report Comment
 

4. Phil said...

"There's a saying in my linre of work" yes many real estate agents do talk rot!

Monday, May 8, 2006 08:31PM Report Comment
 

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