Friday, June 30, 2006

HPC mentioned on Guardian website

Don't believe the hype

How many times have we heard the doomsters warn that Britain's overblown property market is about to crash? Pundits have been predicting a painful end to Britain's ludicrously inflated house prices for years, and have got it wrong time and again.

Posted by webmaster @ 03:56 PM (1662 views)
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7 thoughts on “HPC mentioned on Guardian website

  • *Yawn*

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  • What gets me is how many of these media publications are one minute publishing….the end is nigh…..then the very next day they say ….it isn’t so bad. Does anybody really know what is going on here? Why is it that reputable publications such as the Economist, Money week and others are saying that things are not looking good and seem to be ignored. On the BBC one day America is about to go bust the next day it is reported American growth is the best in 6 months etc…

    False Prophets in my opinion…..I trust my own instincts and those instincts tell me the situation is not good.

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  • The analysis also fails to account for the speculative BTL brigade, who will likely be off once better returns can be found elsewhere (which they already can)

    People dont have to be bankrupted, and IRs don’t have to force sales, when there is so much speculative money in the maket. There just has to be a better investment option for BTL landlords.

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  • I like this quote: “The boring answer is that two things have to happen for a price crash to take place: a rise in interest rates and a rise in unemployment. UK interest rates, at 4.5%, have levelled out and last night’s 0.25% rise in the Fed Funds rate has sent Wall Street surging ahead. Why? Because the Federal Reserve intimated that further rises may not be on the cards.

    So interest rate rises aren’t going to come to the rescue of the doomsters”

    1) It’s a bit of an assumption to say that interest rates have levelled out. The expectations of a rise are higher than at any time for years!
    2) Why do expectations of IR rises in the US (after they’ve had, what, 17 increases?) mean that IRs aren’t going to rise here? Surely the fact that the US have risen 17 times and the UK 0 means we’ve got some serious catching up to do?

    I reckon the journalist who wrote this must have been drunk at the time. Take note of his name and send him a valuation of his house in a years time 😉

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  • bidin'matime says:

    In other words, ‘They said the elastic band would break if we stretched it, but it didn’t, so that proves we can stretch it further and it still wont break’

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  • My first comment after watching this for a while.
    Ticktock is right on the money – so much so I am practically converted to turn red

    The article doesn’t mention the investors whatsoever, which is surprising considering something like 40% of London is now foreign owned.
    The investors who know what they are doing ALWAYS pull out in time and will be sipping cocktails while the small money and little people gets burned and wonders what happened. That time is now and the smart money is pulling out of property and investing back in the wonderfully collapsed and now resurgent stock market. My advice, if you have missed the house price boat, catch the gold stocks boat – right now!

    And one small point, couldn’t they have said the same thing last time the prices crashed? – about so many buyers wanting to jump in and buy as soon as the prices came down. No that didn’t happen – cheap can get cheaper. They say that in the great crash of 1929 the people who really lost everything were the ones who bought after the initial crash – cheap got cheaper.

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  • Indiablue19 says:

    Dear Preguicoso, I believe we are in a suffocating atmosphere where the pundits so-called must, at the end of the day, appear to have called the result. So, if six reporters give six different slants on the action, the media will be assured success. Gone is the journalistic era when any media entity took a stance and stuck by it. Now they are the mistress of every johnny. They might lose readers, viewers or Lord help us, the support of the reigning government who will ensure their demise [or at least render them floundering and pandering to stay in business]. So we the public are at sea in a mire of swirling muck. And those of us who bother to come online to compare we what are seeing out our own windows or in our own employment are the best version of the truth we seem to have anymore.

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