Sunday, February 3, 2008

Times is becoming cheerleader-in-chief

Property slowdown: good for FTBs and upgraders?

It's not all doom and gloom, however. The slowdown could be good news not just for first-time buyers, but for people who already own a property and want to trade up. 2008 could be the ideal year to move up the property ladder. "“In a slowing market, trade up, and trade up as much as you possibly can.", says Anne Currell, director of Currel Residential.

Posted by little professor @ 02:43 PM (911 views)
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7 thoughts on “Times is becoming cheerleader-in-chief

  • “In a slowing market, trade up, and trade up as much as you possibly can.”

    or even …… discover some patience in a “must-have-now” world and wait a few years for house prices to fall another 30%+, so that that trade-up will cost you much less each month. Nice to see that the “borrow as much as you can to keep our bubble inflated” line is still being pumped out by those with everything to lose by falling house prices.

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  • dohousescrashinthewoods says:

    I have to say, there a much-absent truth in this – the simple fact that if your house is too expensive, the next one up is even more so. When prices are high, you should trade down, and when they are low, trade up (buy low sell high – one of the oldest platitudes).

    I agree with Uncle Chris’s sentiment and would add that “the trouble with half truth is that you may have got hold of the wrong half” – quite possibly the “buy now” half.

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  • japanese uncle says:

    In this phase of the market, those foolish suckers who recently stocked absurdly priced properties are in the process of damage control to minimize their capital loss, thus in search of even more foolish suckers to take over those absurd properties. The lesson is, “Don’t even think about it. Try not to have even a glance at the properties pages of sunday newspapers for at least three years.”‘

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  • Goes without saying really that I agree with UC, DHCITW and JU above. Thing that gets me is who do The Times think they are talking to with this article. Surely enough Times readers are smart enough to know when an asset/stock/etc is overvalued. Maybe The Times think there are just enough suckers left in their readership to keep things ticking over for a few months more. Very odd.

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  • Agree with your entirely Uncle Chris. When the bubble pops, it’s not just FTB’s who will be able to afford, but growing families will at last be able to trade up. The media propaganda machine favouring high house prices and low interest rates really does need fighting.

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  • very succinctly put uncle chris!

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  • Yes, following UC’s common-sense summation, no further comment is required. The Times are just making themselves look stupid; clearly they are in the pockets of VIs.

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