Monday, Nov 27, 2006

No crash?

Property News: House price crash 'very unlikely'

Property News: "Independent" economist rubbishes idea of a crash....

Posted by rubberneck @ 12:45 PM (2840 views)
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1. uncle chris said...

The whole economy is pinned on there not being an HPC - no wonder economists are crawling out of the woodwork trying to convinvce us there won't be. I just see a vision of 100's of financial King Canute's lined up on the beach desperately hoping their world won't implode. Can't stop the tide boys & girls ... can't stop the tide.

Tuesday, November 28, 2006 10:07AM Report Comment

2. Chillilizard said...

very good article

Kinda bad news for me but accurate and concise. And non of this VI bullshit.

Bad news for everyone I think; it means we'll all be forced to buy tiny houses, with cardboard walls for the same price our fore-fathers bought a nice pad with a lawn out back.

London must be turning into a ghetto. Ironically, I imagine planning commissions are a facility that is supposed to preserve the utility of housing and transport?

No wonder so many people want to leave.

Tuesday, November 28, 2006 10:13AM Report Comment

3. Rubberneck said...

I agree, though I think it's always healthy to be open minded enough to consider the opinions of people who may not side with you. It does seem somewhat that economists such as Mr Said (who appears to be genuine) have a standard script from which they read when it comes to the possibilities of cracks in the housing market. Whether or not this is because he is a VI or if he actually believes what he's saying I don't know... Safe to say, I will as always make my own mind up ;-)

Tuesday, November 28, 2006 10:38AM Report Comment

4. paul said...

There we've got that silly silly VI's overused phrase again "if the fundamentals remain the same".

They are a property website too.

Tuesday, November 28, 2006 12:13PM Report Comment

5. Dave Ros said...

All this talk of 'fundamentals' is nonsense.

A case in point, Redruth in Cornwall, where I come from. There is little or no industry since the mines closed, there is little or no tourism, un-employment is high, the average wage is less than 20K a year and the effect of migration from Eastern Europe is negligable or none. In summary, the 'key fundamentals' do not exist. Yet, the average house price is a staggering 180K.

It's the same story for Wales, the towns of the North and practically anywhere else you choose to look, where house prices were historically cheap compared to the South East.

This is a boom built on speculation by those who have the means to snap up these properties. However once we get a slowdown or perish the thought, prices start dropping, who exactly are the people who are going to buy up the properties when they inevitably go back onto the market again? The fundamentals just arn't there to support the inflated prices.

Tuesday, November 28, 2006 05:09PM Report Comment

6. Rimmer said...

And the Titanic captain said " No Iceburgs tonight "

Tuesday, November 28, 2006 06:28PM Report Comment

7. glorious sunshine said...

Hey dude, someone mention a beach?

Give me sand, surf and california girls!

Well East coast girls are hip
I really dig those styles they wear
And the Southern girls with the way they talk
They knock me out when I'm down there

The Mid-West farmer's daughters really make you feel alright
And the Northern girls with the way they kiss
They keep their boyfriends warm at night

I wish they all could be California
I wish they all could be California
I wish they all could be California girls

The West coast has the sunshine
And the girls all get so tanned
I dig a french bikini on Hawaii island
Dolls by a palm tree in the sand

I been all around this great big world
And I seen all kinds of girls
Yeah, but I couldn't wait to get back in the states
Back to the cutest girls in the world

I wish they all could be California
I wish they all could be California
I wish they all could be California girls

I wish they all could be California
(Girls, girls, girls yeah I dig the)
I wish they all could be California
(Girls, girls, girls yeah I dig the)
I wish they all could be California
(Girls, girls, girls yeah I dig the)
I wish they all could be California
(Girls, girls, girls yeah I dig the)


Tuesday, November 28, 2006 10:00PM Report Comment

8. geed said...

"But as long as the fundamentals remain unchanged, a housing bust is very much off the cards." There is one hugely powerfull fundamental they havent touched on; "Sentiment". And it is changing, but while the current housing market sentiment remains - Something along the lines of infinite HPI - and the banks keep posting bundles of cash to people to inflate the bubble, I cant see a correction coming for some time.

Wednesday, November 29, 2006 10:37AM Report Comment

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