Tuesday, Aug 15, 2006

Do you think the BBC and RICS are best friends?

BBC News: House prices still accelerating

House prices are likely to rise even faster in the coming months, says the Royal Institution of Chartered Surveyors (RICS).

Posted by kpjcomp @ 01:41 PM (692 views)
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17 Comments

1. The Capitalist said...

"To minimum wage workers and everybody else, hear my voice! Suffering from inflation is what you are getting because it is what you deserve, you stupid halfwit morons! Because when you elect morons to spend and expand the government like this, and you let a central bank empower itself to create monstrously excessive amounts of money and credit like this, by enabling the creation of excessive amounts of debt, more and more, year after year, then how can you be so stupid, so incredibly stupid, so impossibly stupid, so arrogantly stupid as to think that for once in all of history, it would not lead to the horrors of inflation in prices?" (Thanks to The Mogambo Guru
for The Daily Reckoning)

Tuesday, August 15, 2006 02:04PM Report Comment
 

2. uncle tom said...

I met a traveler from an antique land
Who said: Two vast and trunkless legs of stone
Stand in the desert. Near them, on the sand,
Half sunk, a shattered visage lies, whose frown,
And wrinkled lip, and sneer of cold command,
Tell that its sculptor well those passions read,
Which yet survive, stamped on these lifeless things,
The hand that mocked them, and the heart that fed,
And on the pedestal these words appear:
"My name is Ozymandias, King of Kings:
Look upon my works, ye Mighty, and despair!"
Nothing beside remains. Round the decay
Of that colossal wreck, boundless and bare
The lone and level sands stretch far away.

- Percy Shelley

Tuesday, August 15, 2006 03:12PM Report Comment
 

3. Ticktock said...

Moambo Guru,

Of course you are right about the inflation fiddle, and as a right wing crack pot inevitably find a way to blame the victims of capitalism for the failures of capitalism. This is only to be expected.
It is true that the poor are suffering as a result of Central Bank/ Government fraud. They should (and will) be made FULLY aware of why their lives must be shit, in order that nice people like Moambo can continue to have fun gambling.
History suggests that Moambo should not poke too much fun at the missery of millions, after all, it is not the poor who eventually get guillotined as a result of such situaions.

Viva la revolution.

Tuesday, August 15, 2006 04:43PM Report Comment
 

4. paul said...

UT, that's one of my favourite poems.

Oh yes, the article.

I thought the BBC journalism "cut'n paste" graduates had snapped out of their rosy-eyed dreamworld of ever-rising house prices, but no, we see they're firmly back in la la land.

Tuesday, August 15, 2006 05:02PM Report Comment
 

5. harold said...

Shelley, the ultimate bear.

Tuesday, August 15, 2006 05:23PM Report Comment
 

6. Ticktock said...

Mogambos reckoning is without insight. It is not the poor who get guillotined during such times, it is the capitalists that created them.

Viva la revolution.

Tuesday, August 15, 2006 06:25PM Report Comment
 

7. Bryan said...

http://abcnews.go.com/Business/wireStory?id=2315473

Tuesday, August 15, 2006 07:18PM Report Comment
 

8. Bigwave said...

paul - unfortunately "cut n paste" is not confined to the BBC. Pick up any national/local newspaper and you see the same thing -press releases reproduced sometimes verbatim, and rarely questioned or investigated in any way. It must be a dream to be in PR these days - write what you want, email it round and watch as it magically appears without anyone saying so much as "boo". There are very few "journalists" on BBC online these days (I know what I am taking about here, by the way). They are merely sub-editors who post "stuff" up. Someone in the business once told me that they felt like they were flipping burgers - there was no time or inclination for analysis.

Tuesday, August 15, 2006 08:21PM Report Comment
 

9. Lvmreader said...

http://www.japaninc.net/article.php?articleID=575

Compared to the real estate prices of the 1980s Bubble Economy, today's office rents are dirt cheap. Back then, a 100-dollar bill wouldn't buy the land it covered in downtown Tokyo, the Imperial Palace was worth more than California, and all of Tokyo could have bought all of the US. In theory, the Japanese could have bought the entire world by selling their archipelago. At the height of the bubble, Tokyo land prices reached $350,000 per square meter. Since that peak, prices have fallen by more than $5,000 billion, over 110 percent of Japan's GDP.

Tuesday, August 15, 2006 08:43PM Report Comment
 

10. This comment has been removed as it was found to be in breach of our Blog Policies.

 

11. Swamp said...

from wikipedia : This poem is often incorrectly quoted or reproduced. The most common misquote — "Look upon my works, ye mighty, and despair!" — replaces the correct "on" with "upon", thus turning the regular decasyllabic (iambic pentameter) verse into an 11-syllable verse.

And on the pedestal these words appear:
"My name is Ozymandias, king of kings:
Look on my works, ye mighty, and despair!"

As for BBC cut 'n' paste journalism I have seen news articles lifting sections word for word from wikipedia !!

Wednesday, August 16, 2006 12:36AM Report Comment
 

12. Bfskinner said...

dont RICS to some extent help set the prices in the first place through their surveys?

so this article says "people who make up house prices to make up bigger ones"

what happen to the BBC being the epitomy of worldwide journalistic integrity, as oppossed to the whipping boy of the government and comercial interests.

BFS

Wednesday, August 16, 2006 09:29AM Report Comment
 

13. Mrmickey said...

Believe half of what you see and nothing of what you read

Wednesday, August 16, 2006 10:34AM Report Comment
 

14. This comment has been removed as it was found to be in breach of our Blog Policies.

 

15. kpjcomp said...

And the CML have some wonderfull news too->

http://news.bbc.co.uk/1/hi/business/4797431.stm

Wednesday, August 16, 2006 02:11PM Report Comment
 

16. sebastian said...

"Research has shown that most buy-to-let landlords are middle aged, are investing as an alternative to a pension and own just one or two extra properties. "

I thought it has been said that the average BTL has 7?

Wednesday, August 16, 2006 03:02PM Report Comment
 

17. bidin'matime said...

Sebastian - I act for a number of BTL landlords (doing their tax returns) and the average I see is not 7. Some have gone mad and bought half a dozen or more, but most have fewer. Three or four is typical. Having said that, I think that they are being optimistic saying one or two - once they see how brilliantly successful they have been as 'investors', they do have a tendency to buy more...

Wednesday, August 16, 2006 05:39PM Report Comment
 

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