Thursday, August 16, 2007

Landlord Association predicts the top of the market?

UK property market should stand firm despite stock market decline

OK so I know it's not his work, but as he does not talk to us anymore I thought I would share this gem. "If you look back to the stock market crash of 1987, the housing market remained strong and continued to be so into 1988." Right then I'm off to get a 6x IO mortgage to buy a Chelsea broom cupboard if that's the case.

Posted by crash bandicoot @ 10:42 PM (686 views)
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4 thoughts on “Landlord Association predicts the top of the market?

  • LOL – nice one bandicoot.

    Get yourself a 10x salary mortgage – interest only – and then have to ditch it one year later when the crash comes (by landlord experts estimate!).

    What does he think he’s doing? I guess he’s trying to prevent panic by saying “there won’t be a crash yet!” but in doing so he’s pointed out that based on history there probably will be a crash in a year or so. And this in a highly illiquid market where it is prohibitive to be in it for anything but the long term.

    Fool.

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  • why oh why are we being fed BS to hold up the housing market, it is clear the figures are being fixed, it is clear the market is on the way down,………………people can only afford so much, so why BS it up any longer?….

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  • I have to agree with you crash bandicoot, reading this article they are full of it. They say in 2001 when stock market crashed people turned to invest in property and if that happens again it might even give the market a boost.

    It might happen… in dreamland. I would think the point is that in 2001 property was still quite affordable (relatively speaking). That just is not the case now, and no way are people going to invest in property when there are already signs of the housing market slowing/faltering. Unless of course they are stupid.

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  • On the subject of all the BS thats being flying about for some time………It seemed very coincidental to me that while the major cracks in the financial system are now appearing, the UK Government issued data indicating that the UK economy was in good shape (I fell off my chair laughing when I read this information)
    – the inflation and employment figures issued this week.

    I am wondering if this was a hopeless attempt to try and paper over the cracks and keep the markets steady.

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