Tuesday, March 18, 2008
Round like a spiral in a spiral like a wheel within a wheel…..
Just a title from Fred. What amuses me is this. A posting from Greenbay said "yes there are business cycles but i dont believe there is a cycle in property". This is what i find strange about these BTLrs. They Invest in a market that for 400 years (per Fred) has had reliable (excluding the war periods) booms and busts in Land values which have dragged up HP with them (note Fred suggests that HP depreciate - its the land that they are built on which suffers the boom/ bust). Now i have personally not done the work but Fred has, so why oh why would the Bulls insist that they are right and 400 years of history is wrong? Now it may be that "this time" they are right - but its always different "this time", or more likely they have no idea about this research. Baffling!