Thursday, January 17, 2008

Stick your head in the sand and hope the problem will go away

Obsessed with house prices? Me? Not any more

"My new year's resolution - never, in any circumstances, to worry what my house is worth. A disproportionate amount of my net worth is tied up in my property. Even if I can keep up with my mortgage repayments, a fall in house prices could have all kinds of other knock-on effects. Scary. Hence the resolution. I can't control what happens to house prices but I can, to an extent, control how much I let movements in house prices play on my mind. It is a head-in-the-sand strategy. But then why should ostriches always get a bad press?"

Posted by drewster @ 12:27 AM (1330 views)
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7 thoughts on “Stick your head in the sand and hope the problem will go away

  • What a plonka !

    A 20% fall i cant even think about it, a 40% fall now would be a correction in real terms, if the country economics really go pear shaped and there is a chance ( i am a bear but things are not all bad ) you will see a 60 – 70 % fall in troubled areas like Liverpool and other inner city spots and a 50+ fall in others.

    Amazing just Amazing, maybe he should have taken advise.

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  • This scores high on relevance i guess. Good signal-to-noise ratio?

    LVMReader – a different type of blog that looks at slightly off-the-wall but still publicly available indicators might be more appropriate…..

    As far as the House Price Crash goes it seems to have “gone” so to speak. So i guess its just a matter of gossiping about it – as it goes to the inevitable finale.

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  • Thank you whiteknight 🙂

    It’s just about keeping the blog relevant. There are a number of other excellent blogs and news sources out there which cover related topics:
    The Oil Drum: blog covering oil, energy, and natural resources, written by experts in the field
    The Rat and Mouse: London property blog, estate agent gossip
    Market Oracle: UK financial blog, more technical than most
    MoneyWeek (part subscription): magazine with a slightly bearish slant (also an excellent free daily email)
    Financial Times (registration/subscription): newspaper with detailed coverage of banking and financial news
    The Telegraph business section: like a cut-down more readable version of the FT
    The Guardian’s property section: property news and comment from a social viewpoint
    There are many more good sources, probably too many to list. I think HPC is one of the best and it’s the only one to which I freely contribute my time. That’s why I want to see it maintain a high standard. Feel free to add your own recommended blogs or websites – whether it’s gold or k-waves or killer viruses or end-of-the-world prophecies. This could become an interesting list!

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  • One of my personal favourites is the Charles Hugh Smith (CHS) blog page: http://www.oftwominds.com/blog.html

    CHS writes about many aspects of American society, not just the house price bubble. For a list of last years House Price articles by CHS, the column headed “Housing Bubble Watch” at the 2007 archives page is the most convenient way to review his work: http://www.oftwominds.com/archive07.html

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  • Well the cheerleaders have to stick their head in the sand, its all they can do now.

    Even they admit they are livin on a prayer.

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  • sold 2 rent 1 says:

    drewster,

    Other sites I visit are
    Safehaven.com
    bullnotbull.com

    whiteknight,
    “As far as the House Price Crash goes it seems to have “gone” so to speak. So i guess its just a matter of gossiping about it – as it goes to the inevitable finale.”

    Don’t get complacent and think you know how this will pan out. Robert Prechter has already said that we are now in a cycle that is even bigger then the 300 year grand super-cycle that should have ended after the 2000 tech-bubble. My own analysis suggests some huge changes ahead.

    The US government managed to reflate the stock market with rates at 1%. They will do anything to prevent financial meltdown – and this means bailing out anyone who gets into trouble.

    We could be heading for a moment of “singularity” where change reaches such extremes that we make a complete break from the past.

    My approach for the next few years is to try and focus on the more positive changes that are happening around us. Sometimes it is difficult to see these positive changes as we are so focussed on the negative changes of HPC and financial turmoil.

    What you pay attention to, you become conscious of.

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  • While you make some excellent posts White Knight, LVMReader can really be quite entertaining sometimes, overall I think a positive vote.

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