Tuesday, November 27, 2007

Surely it’s the sellers who are panicking?

Buyers urged to avoid panic as house prices fall

Brits are being warned not to panic as house prices slow and begin to fall in some areas.Property is still a sound long-term investment, according to Miller Homes. "It is a solid investment for the future and will not only help you move up the property ladder, it will also provide security and peace of mind for your family. " "So in fact, there is actually a fantastic opportunity at the moment"

Posted by little professor @ 11:12 AM (2086 views)
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21 thoughts on “Surely it’s the sellers who are panicking?

  • so, according to a VI, people should not sell their homes in order to prop up whose investment?

    Oh that’s right – the VIs.

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  • “But they shouldn’t be put off. Your house is not only your home it is also a solid investment for the future and will not only help you move up the property ladder, it will also provide much needed security and peace of mind for your family.”

    Hehe. Desperate.

    “Quickly catch this falling knife – it might stab you in the foot!”

    It’s a paralogical metaphor (stretching the metaphor beyond it’s intended meaning) in other words “quick buy now before prices fall further!”

    ???????????????

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  • The drivel is pouring forth

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  • The spokesperson also appears to change gender by the end of the article, from a Ms to a Mr…

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  • What else would you expect from a house builder?

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  • These comments are as dangerously misleading as the USA sub-prime salesmen selling to vulnerable people who would never be able to sustain the payments and the salesmen caused enormous stress and damage to many lives. Appalling. Appalling. Appalling.

    I have told my sons that there is no hurry to buy a house in the next 5 years, minimum. If you take out a mortgage now and the market price falls £20k you have spent that from your future earnings. Most people could do a lot with £20k if they knew now that that is what they were going to spend.

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  • according to Miller Homes.
    Say no more.

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  • talking of mixed metaphors, how does buying a house in a falling market help you ‘move up the property ladder?’

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  • dohousescrashinthewoods says:

    I have doubts property will ever return to current levels within our lifetimes (in real terms).

    I think the disappearance of credit will deflate prices and the world will not return to such levels of debt for a lifetime (it’s been a lifetime since 1930)

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  • do not miss this one

    http://www.moneymarketing.co.uk/cgi-bin/item.cgi?id=154836&d=340&h=341&f=342

    Boulger dismisses City forecast for 7 per cent house price fall
    Mortgage guru Ray Boulger has dismissed forecasts from futures and options traders in the City that house prices will fall by as much as 7 per cent next year. “I am predicting a 3 per cent fall in the first half of the year before the market stabilises in the second half of the year due to falls in interest rates, meaning around a zero per cent increase overall next year.” He adds: “The longer the bank takes to lower rates the lower they will have to drop them.”

    the mortgage guru is sh*tting in his pants AHHH AHHHHH HAHHAHAHHAH HAHAHH, sorry ho, ho, ho

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  • Good one, confused.
    Ray Boulger misses the point: nobody catches a falling knife. Property prices have risen on the expectation of future growth; now they are falling on the expectation of future losses.

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  • It’s no better investment than anything else, less so infact. Companies exist to make money for shareholders. Unless your house magically grows an extension, it’s only worth what market conditions dictate at the time.

    Surely if prices are falling, next month is a better time to buy a house and is a better investment than now?

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  • I think you’re all wrong.Loads of people will rush out to buy on the back of this sound independent advice.

    Only problem is noone will lend em the money.

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  • I am totally confused!!!

    Why would buyers be urged not to panic? This makes no sense !! Surely buyers are not panicking but sitting quietly waiting for prices to drop so they can afford to buy!! It is sellers who will panic!!!

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  • I’m sorry but statements like this are beyond the pale.

    “In the wake of the recent credit crunch and continued uncertainty in some areas of the financial sector, property could be the safest area to invest, according to Miller homes.”

    You have got to have a total disregard for your fellow man to recommend property as a safe area to INVEST ! Shame on you !

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  • All investments are risky. It is just a case of trying to find one that suits you. If inflation takes off cash is no good, Property and shares tend to perform better in an inflationary environment. I mean you could invest in commodities but what if China came down with a bump after the Olympics….. Personally I would rather invest in property than bank shares at the moment…. It is all down to what you can afford. I sure wouldn’t gear myself up to invest in property either.

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  • In an earlier forum thread someone posed the question along the lines of “should we blame quants for the credit crunch”?

    I argued that blaming quants for the credit crunch is about as logical as blaming actuaries for the FSA pension review, i.e. totally illogical as neither quants nor actuaries are involved in selling products; they just design them, that’s it; its the job of the salesforce to sell the products appropriately.

    As numerous posters have pointed out here, its sales spiel like “in the wake of the recent credit crunch and continued uncertainty in some areas of the financial sector, property could be the safest area to invest, according to Miller homes.” is exactly the sort of unscrupulous drivel designed to part the gullible and their money.

    “No-one catches a falling knife”. I like that phrase, it’s so succinct.

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  • As anyone with a brain stem understands, when prices fall, potential buyers delay their transactions until the fall bottoms out, then buy, lest they lose money too.

    Aboutproperty.co.uk apparently don’t understand this. Either that or they really do believe their own lies that property prices only ever go up.

    Whichever way who’d take anything they’ve got to say seriously?

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  • “No-one catches a falling knife”.

    No, and trying to lick the butter off it while it’s still falling could also prove painful…

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  • Dohousescrashinthewoods says:

    Good call, the reaper and handle_it, and yes, everything about this article is backward, upside-down and inside out. From panicking buyers to “buy your depreciating asset now for great returns”

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  • I caught a falling soldering iron once. Four fingers and palm with a super scorch… and the smell of course

    Still as clumsy, I am now highly skilled at allowing knives to drop to the floor

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