Friday, Sep 01, 2006

You spin me right round baby, right round

Firstrung: So pushing the spin aside, what's the underlying reality of the housing market?

We've heard a lot about the US housing bubble this week. But what of our own, carefully nurtured, lovingly tended little house price bubble here in the UK?
Property pundits in the UK seem a little more sophisticated than in the US. In the States, everyone from house builders to estate agents are, frankly, panicking. There's no pretence of everything being OK - there's talk of the worst slump in decades, markets in freefall - it's bad out there and they know it.

Posted by converted lurker @ 11:23 AM (460 views)
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1. indiablue19 said...

You will find there is no reserve on such matters in the USA. People call a spade a spade -- not a leveraged manipulative earth remover.

It's actually a help in facing a situation that needs facing. A normal conversation on such a subject in the USA would be interpreted as panic here. There's a massive difference in the perceived need for face-saving measures. It's really rather refreshing in that it is possible call trouble trouble over there....and then potentially fix it. My concern here is the huge amount of obfuscation that anything COULD be wrong and attendant denial. Meanwhile, Rome burns.

Friday, September 1, 2006 04:45PM Report Comment

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