Sunday, March 30, 2008

Taking a swipe at HPC.co.uk

It's not just the property market that's overheated

Phil Spencer, the television property expert, was taken aback by the insults that rained on his head last week. The presenter of Channel 4 programmes, including Location, Location, Location, was described as a "confidence trickster" and a "smarmy snake-oil property-porn merchant". His crime? He had dared to suggest that the property market was not collapsing. Kirstie Allsop, his 36-year-old co-presenter, has also been the target of seemingly orchestrated ambushes when she has taken part in radio phone-ins. The "doomsters", who express their views on a number of "property crash" websites... have a vested interest in talking down the market and spreading fear and uncertainty.

Posted by little professor @ 11:35 AM (3162 views)
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68 thoughts on “Taking a swipe at HPC.co.uk

  • surely the strategy for them is just to fade away for a while. Follow the example set by the Queen.

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  • People I know who are in the market to buy a house think the market is going down, and confidence is the vital ingredient for such a highly-geared investment.
    I’m glad people like Krusty and Phil are taking a bit of flak – about time.

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  • There is a fifth group of ‘doomsters’ – those who look at the facts.

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  • I was so annoyed about this article I posted a reply. It will have to be moderated but i’m sure he is looking to prove him point about vilification.

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  • Well, this site gets obliquely referred to!

    He asks the question: why do we want prices to fall?

    I don’t see myself in any of his categories however.

    My main reason for wanting prices to fall is that since the turn of the millennium I have seen a bubble forming in the market that was clearly unsustainable. It was inevitable that the boom would be followed by a bust.

    At the same time I would like a larger home (preferably by buying the house next door and knocking the two into one). Clearly it would be foolhardy to move before the bust happened.

    As it has been clear that the longer it took for the bust to happen, the worse it be (both for homeowners and the economy as a whole) I have had an entirely responsible reason for egging it on, aside from my personal agenda.

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  • Guys there is one submission which is slightly alarming:

    “There’s one in particular that is frequented by neo-nazis, survivalists and just about every type of nut out there. But don’t post that prices won’t crash, that will bring the wrath of of the cult….”

    I am not a Nazi, Survivalist or Pistachio. The reason why this article has appeared is if it was not now a distinct possibility, it would not be discussed in the first place. Furthermore, more & more people would not visit this website.

    The question is, who is the conspiracy theorist? Not me. When I see, council tax – UP, Gas & Electricity – UP, Petrol – UP, Alcohol & Cigs – UP, Food – UP, Interest Rates – Down, Actual Rates charged by Nationwide & others – UP.

    This shower needs to really get a grip. As people are feeling the squeeze, and the stats are no longer reflecting (a disconnect) with what is now apparent in society.

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  • mark wadsworth says:

    What are Phil and Kirsty worried about?

    They can continue presenting ‘Relocation, relocation, relocation’, and interview all those people who have had their shiny new homes repossessed and are moving back into smaller rented accommodation. They won’t even need to change the name of the show!

    I’ve already scripted the opening scene:

    Phil to punter: “Now Richard, your salary was £50,000. What on earth made you think that could afford the mortgage on a £250,000 ‘crash pad’ that was at least 25% overvalued, and a mortgage on a delightful £750,000 farmhouse that has since fallen 40% in value? What, a couple of TV presenters told you? Who? Oh … hey, what are you doing with that hammer …. aaarggh … splutter ….”

    That’ll be the closing scene for the entire series as well.

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  • Mark,

    £50000 tell me (a lawyer) where that sort of salary can be earnt? Even in the City in 2001 when I started out I was only earning £35000 !!!

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  • Sorry but Phil and Kirsty deserve everything they get from here on in. I don’t think they are stupid or ignorant so there must be another reason for them ignoring what has been blatantly obvious to the users of this site and to increasing numbers of the UK population, that relentless house price inflation (especially when unattached from economic fundamentals) happens to the detriment of society as a whole. They’ve smuggly championed the ‘me, me, me’ attitude to housing over the past x years and sadly for them, all good things come to an end. I don’t think threats are appropriate but they need to recognise their position in the scheme of things and that the climate has changed dramatically in 6 months and will have changed a help of a lot more by Christmas.

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  • It’s getting nasty out there. This raises the question of what happens in societies when gross inequalities are allowed to perpetuate, as they have done with housing in recent years. Remember what happened with the poll tax? One can imagine civil unrest should the situation continue to get worse, as the price-pumping pundits would wish. In the end it is in nobody’s interest for house prices to stay higher than the level of wealth in a country implies. A gravely unequal society is a bad society, crime-ridden and dangerous. Even the house rich wouldn’t want that.

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  • So, reading this article we are now into the world of reverse conspiracy where the perceived ‘conspirators’ are now turning the tables. This reflects the inability to defend that which cannot be defended.

    The so-called ‘doomsters’ (a derogatory description – like conspiracy) openly give their views. They are not Active in the housing market, but merely pointing out a question of value. The reason being that this is a market and this is the whole point of any market.
    The reasons given are much varied and simply justification of their views, otherwise they would be accused of hearsay at the very least.
    No need for me to say any more on these points. It only has to be read and thought about.

    On the other hand : Those so offended in this article are Actively involved and profiting from this market,which I personally believe to be ridiculously overpriced.
    I would not pay over the top for anything and nor would these offended ones. That is providing we all have the opportunity of a truly Free Market and therefore the Choice.

    Now I have no doubt that the offended ones are pointing to the personal insults they have received. Well, make no mistake : You get what you deserve in this world. You create a situation then reap the rewards. Some of these rewards are not your idea of a reward
    .
    Tell me, in fact Tell the World : Why you want people to pay a lot of money for a Home,somewhere to live, a shelter, a place of safety for the young,the old,the weak and the sick ? Why?

    I presume the Answer will be ‘Silence’

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  • lp

    Great posting.
    Hope you get a lot of reaction.

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  • Phil & Kirstie need to take a long holiday and reinvent themselves as something else.

    What could they do?

    … well, they have proved to be masters of spin and hype – maybe politics…?

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  • Kirsty categorically said that she would eat her hat if house prices in the UK ever dropped.

    So please can we see that now? I want to see her chewing that cheap felt. On television. She can have as many glasses of water as she wants between mouthfuls, but come on, she has a big enough appetite anyway – it may even help her diet.

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  • I think it beggars belief that we are being accused of orchestrating the property market’s downfall!

    Likening a group of blog posters to the professional investors shorting HBOS* is also reaching. As if there wasn’t ever a concerted effort on the part of the BBC, as if the property section advertising-funded media didn’t do their best to write glowing editorials telling everyone to get on the ladder, as if BTL landlords didn’t talk up the market to accelerate their own gains (including newspaper editors and bad TV presenters who were also BTL landlords).

    Let’s make it absolutely clear too – if you own shares in a company and you abuse your position in the media to talk up the value of that company, you can go to prison – it’s called market manipulation.

    So why is it that Phil and Kirsty are fine abusing their positions by talking up the market but cry foul when it is used against them by a rag-tag bunch of internet posters? No, sorry – they are writhing on their own petards. We don’t give them any sympathy here and we should not allow the media to either.

    *The reason HBOS was shorted was because according to the analysis models used, HBOS was in trouble, and that’s also why – surprise, surprise – they never caught the culprits.

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  • Interesting to see how many comments were posted arguing for a house price correction. The very first comment to the article, posted by ‘Patrick Bateman’ reads:

    “He shouldn’t take it too seriously, these “property crash” web sites are more like doom cults than a serious place for debate.

    There’s one in particular that is frequented by neo-nazis, survivalists and just about every type of nut out there. But don’t post that prices won’t crash, that will bring the wrath of of the cult….”

    I think he’s talking about us.

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  • is Patrick Bateman an anagram of Greenbay? No of course not – Patrick Bateman – hmm isnt that the name of the main character in American Physco? And he’s referring to us as nutters? Hmmmm read the book and you will never buy Gorgonzola again.

    Of course if “Mr Bateman” would like to come on here i would very much welcome reasoned argument for any bullish position, infact where are those bulls? Silly me we have to wait for the DCB before they raise they heads above the parapets.

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  • This is a fantastic posting. Thank you!

    “The last group is probably the biggest: thousands of people, most of them middle-class, who have made ill-judged moves in the property market and find themselves unable to afford the school fees and exotic foreign holidays enjoyed by their friends and colleagues, or who, having benefited from rises themselves, now watch their children struggling to get on the ladder”

    amazing. this journalist is playing on the “envy” feeling. [email protected]!
    I have been taking my kids on holiday trips three times a year. I can and will continue doing so because I do not have escalating mortage interest payments around my neck.
    This suggestion that it is not the HARD WORK that affords you the “exotic travel” but having stepped on the housing ladder at the right time is offensive.
    Therefore half the population is condemned to a life of misery.

    Then how narrow minded the statement on the school fees. This British obsession high fees = better quality.

    Only a complete lack of economic understanding can lead to writing such a shallow article
    And how divisive of society, The “haves” and the “have nots”
    And the “leftist” suggestion
    UTTER RUBBISH

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  • Comments like the one below make me believe that it is not just the 50, 60 bloggers who routinely contribute to the HPC.co.uk discussion.
    Very many thousands in this country are fed up with this “feel good” rip-off!!
    In fact, who is NOT fed up?
    I tell you: the BTL get rich, the 6 million people on government benefits (and rental paid to BTL speculators by us, taxpayers), the non doms, the PPP investors, the ex Metronet bosses, the ex Northern Rock bosses…
    It is those who thrived under new labour. but not enough people to stop the housing armageddon from happening

    “We’re all aware that property was hyped up on the back of the pensions crisis, and the temporary boost to the economy through equity withdrawal. Not to mention a boost to taxation on property sales, estate agents’ comissions and new property investment companies. People wanted tangible investments and almost everyone wanted this quickly (overnight property millionaires). There wasn’t a single day you could escape some kind of property investment programme on the TV, sometimes every channel had one at prime time. Now that the generations that need to buy-to-live are priced out – we’re branded as “doomsters”. This is both smug and offensive and comments like this are made by baby boomers who’ve had it easy for too long. Now these generations want you to finance their obscenely overpriced properties so they can downsize and live in France – while you sit on a debt treadmill untill you’re 90? Sadly I think the younger generations are waking up to the fact we are being set up for wealth transfer to finance the retirees and a failing economy based upon nothing but monopoly money and starbucks. Never has inflation been so high or falsely manipulated, and we have been strategically lied to to keep this false economy going while the VI’s presumably prepare to jump ship. It’s time – don’t buy a house and finace their escape plans. Don’t be a slave to others’ greed.”

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  • stillthinking says:

    The depth of feeling in the comments does surprise me because most of the people I have spoken to have essentially said that house prices are always going to be going up, new paradigm/shortage etc.
    Another point, in the same way that most people on this site have come here for group confirmation of their own views while as a minority, I am sure that newspaper editors have a first priority of selling newspapers and are very careful about what news people want to read.
    The message for any editor looking at that article is that a front page with ‘50% house price falls predicted’ is probably going to sell a huge number of papers ( I would buy one, I realise thats projection from self, but so would all the commenters). I read about 30 articles and they were all hoping for a crash. Interestingly several comments moved to the idea that as a house price crash is beneficial for the population the use of the word ‘crash’ (used here also) is really misleading and loses the war of words. The days of talking up the market have obviously gone.
    I do think that the over-expansion of the public sector and the various mis-adventures of Labour are a different question of fish, although they will be remembered for a repeat of the 70s.

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  • stillthinking says:

    kettle of fish

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  • “The depth of feeling in the comments does surprise me …”

    Perhaps most people don’t say anything in public because they don’t want to be associated with doomsters, survivalists and some of the more extreme views?

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  • Does anybody have the original reference where the Honourable Kirstie Allsopp said she would eat her hat if house prices fell?

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  • i am sure none of the regulars to HPC will have no symphathy with these two,but to others reading this blog who may feel symphathy and feel that Phil and Kirsty are hard done by lets not forget that these two are VI’s of the highest order.The following comments are taken from wikipedia Kirsty allsopp;

    “Allsopp went on to found Kirmir Property Search, but later joined Garrington Homefinders [2], which Spencer founded in 1996.

    Allsopp gave birth to a son, Bay Atlas Anderson on 29th July 2006, by her partner, property tycoon Ben Anderson. They are now expecting a second child.”

    It really does make my blood boil to hear them continue to blatantly decieve people with their spin.Real people are going to get seriously burnt in this crash and thats one thing that i am sure many bloggers on here will not be pleased to see.
    I am not talking about the btl’s or those that have been feckless with equity withdrawall.I mean the first time buyers who have been needlessly drawn into the market at the very top by the continuous lies and half truths by VI,s.
    I went to a party last night and saw an old friend,he is 40 his girlfriend is 38 and they have no children.We got chatting and he told me that he was very close to completing on buying a place for the first time,because he was fed up of renting.My heart sank because i know for sure over the next few years he will now be in big trouble financially and it is just so unjust that these hardworking people are going to suffer like this.
    Phil and Kirsty and all the others within the media who have continually talked up the housing market should hang their heads in shame.

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  • shipbuilder says:

    Clearly to the Telegraph the right of the middle classes to live their unsustainable pie-in-the-sky aspirational lifestyles on housing equity outweighs the right of anyone wishing to pay a reasonable price for their home (except when selling papers involves taking a bearish position – right now most paper’s editorial policy seems to be about 50/50. It doesn’t take long to spot that the bearish articles are written by economic commentators and the bullish by ‘lifestyle’ journalists).
    The reality is the the Phil and Kirstys of this world are effectively offering financial advice when they make comments that the market in Britain will never fall – people believe it and they have been partly responsible for the upcoming economic hardship we will all face.
    Clearly blaming ‘doomongers’ for a falling market only serves to point out the naivity of the journalist and that the market is neither ‘sound’ or based on any ‘fundamentals’, but purely sentiment.
    It requires only a small step backwards to realise that rising property values serve no-one other than speculators and those using their houses as a cash machine. To take the position of these people over the majority in the country is not only stupid, but elitist, morally unsound and downright shameful. Everything about the selfish braying of these cheerleaders disgusts me and indicitive of the slide of the UK into rampant individualism over the last 20 years.

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  • The article is cleary firing back. Tgraph must be flooded with complaints

    “I am one of the poor people who are suffering at present.
    I need to sell my house, but it just isnt selling. I need to get enough to cover the mortgage and have knocked the price to this level.
    I have recently been off work sick and cannot return.
    I blame the media for fooling me and others into buying a property at the top of the cycle.
    As for Kirsty and Phil, they both simply make me sick. If I saw them in the street I would not hesistate to spit on them”.

    “I’m always impressed by those who brand others as Neo-Nazis and loonies. It shows that they don’t intend to waste their precious time with any unnecessary thinking.”

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  • The article has just had this posted at 3.59pm:-

    “I am a Buy to let investor. I have 12 properties and they are mainly appartments spread around the country. I went to an Inside Track workshop and was misold these properties. All my properties are on the market and even if they sell for the asking price I will be 200K in debt, they have been on the market for 5 months and I have had no interest whatsoever. I am now fearing that I will lose my family home too. My life is now destroyed. Everything I worked for has now gone and I am so depressed. I feel cheated, and lied to. I don’t know what to do now.”

    Now if David Harrison and Graham Norwood had actually written an article worthy of the Newsprint they would not have solicited such a complete condemnation of their position; the Telegraph should be ashamed to have them as writers on their staff.

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  • if kirsty’s hat is like her other clothes it will have a gigantic button on it. Hope she doesn’t choke on it while eating her hat!

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  • @enuii… that’s terrible… cheated.. lied too.. NEVER… should have gave the money to his kids or better still to Gordon Brown.

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  • Suppose its inevitable to try to discredit the people that have seen through all the hype and could potentially gain a lot of respect over the coming months. I especially liked the bit about the death threats. Familiar tactics – turn your enemy into nutters and evil terrorists!

    But we can’t have a price crash with all its associated turmoil without first having the huge rises now can we? Food, fuel or pretty much any other essential goes up and the whole country then become ‘doommongers’. The cost of shelter rises and thats a good thing??!!

    Maybe HPC could have a famous quotes page so that credit can be given where due?!!!

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  • Can I just say I think there is another issue regarding the posters on this site. I admit that occasionally many of us get carried away, myself included, and sometimes don’t always consider the appalling tradegy that is going to befall literally thousands upon thousands of our fellow citizens who have just tried to secure a decent future for themselves. Sadly, they’re about to realise that naively expecting money for nothing never really works. However, I do think the ‘doom sayers’ etc comments are a pretty cheap shot. I do not think that most of the posters here are gleefully rubbing their hands at the prospect of a HPC and potentially a massive recession. Rather we have basically been saying that rampant HPI cannot go on for ever and the longer it goes on the worse the outcome. Now, if you ask me that’s not being pessimistic but that’s being realistic.

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  • Kirsty has just posted on the articles comments page:-

    “I will let it be known that all your IP numbers have been recorded.

    All posts will now be checked for threatening words by the police.
    Posted by Kirsty Allsopp on March 30, 2008 4:27 PM”

    Hope so too as such comments are uncalled for and are a distraction from the real issues at stake here in real peoples lives.

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  • Unplugged, you’ve mentioned a good point there. Why oh why oh why do the media always show themselves to consider house price inflation to be a ‘good’ thing when any other form of inflation is generally to be avoided like the plague. You can’t have it both ways and the country is about to realise that rampant house price inflation isn’t that ‘good’ after all.

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  • enuii I agree with you but isnt the guy that went to an Inside Track workshop really only got himself to blame? If i go to a car dealer for Ford they aint gonna say a VW is better, or generally the price of cars is too high and i’d be better off waiting to pick one up cheaper. Whilst i am sure he has a point re Inside Track, i am continually amazed by people who put – what amounts to – their whole economic future at risk without researching things. What actually makes me smile is that in my experience people generally spend more time looking at a car than they do at a home. When the house/flat whatever is judged to be an investment chitty they do no local research or any macro research at all. IF they did or even spent a few short weeks on a “cult” “loony” “neo-nazis” site like this they might have had their mind opened to the POSSIBILITY that the VIs might just be wrong. And on that subject what VI do we have? I suppose since i S2R i do have one, and i suppose everyone does to some extent (although for me personally its actually in my overall interest – economically rather than socially – for rises). Surely if he had bought them and rented them for profits (which was clearly the intent) would he really be complaining now?

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  • Hey, that’s a new factor in the whole process –

    Denial
    Police Intervention
    Fear
    Panic
    Capitulation

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  • Techieman @35, the likes of InsideTrack should never have been allowed to function in the UK. Their entire business model is based on deceit and fleecing of the gullible, most able minded investors do the work off their own bat and would never go anywhere near such firms as this.

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  • jackc, I can’t find the eat my hat bit. Can you pinpoint it?

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  • Homeless_bear says:

    @ enuii . . . .

    How about we all report Kirstie to the Police . . . . . . for lies and deception . . . . from the Wikipedia website:

    “Allsopp famously went on record on Question Time stating that London would never experience falls as it was a desirable place to live. The next day it was reported that the average London home had lost 6% of its value (£23,000) in the previous month.”

    Definition of Deception:

    Deception: the act of misleading another through intentionally false statements or fraudulent actions.

    From a “Legal Dictionary” on the internet, we find:

    Definition of Fraud:

    Fraud: A false representation of a matter of fact—whether by words or by conduct, by false or misleading allegations, or by concealment of what should have been disclosed—that deceives and is intended to deceive another so that the individual will act upon it to her or his legal injury.

    Fraud is commonly understood as dishonesty calculated for advantage. A person who is dishonest may be called a fraud. In the U.S. legal system, fraud is a specific offence with certain features.

    Fraud is most common in the buying or selling of property, including real estate, Personal Property, and intangible property, such as stocks, bonds, and copyrights. State and federal statutes criminalize fraud, but not all cases rise to the level of criminality. Prosecutors have discretion in determining which cases to pursue. Victims may also seek redress in civil court.

    So, for all you people who believe you’ve been mis-sold a property at the top of the market (i.e., where you’ve got the most to LOSE!), then please point your anger, angst and venom at those who have lied to you (Kirstie, Phil, Property Programmes, VIs, EAs, and even (some) politicians . . . . . . and not at the good people who post (regularly) on this website. We are only trying to be the little boy, standing on the side-lines of the big parade, pointing, and shouting: “The Emperor has no clothes!!”

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  • @Paul

    The eat my hat bit is 21m 55sec from the start of the clip.. enjoy!

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  • Paul, sorry I’m not technical enough to pinpoint on here exactly where she talks about eating her hat – I listened for about 10-12 mins – they go for a travel news break and I think it’s after that – you need to listen very carefully because she makes the statement and quickly moves on. Hope this helps

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  • Check out the post left at 4.57

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  • It’s you Tom, very well put forward if I may say so.

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  • Ha ha ha,look at the comments made since the old hat eater threatened free speech with her silly silly comments.
    She has since gone on to say that house prices will rise by 10% for the forseeable future proving once again her ignorance.There are some real angry people on there now.this is a classic posting,well done little proff.

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  • it_is_going_with_a_bang says:

    Well I hope they put as much effort into an article when he is made to look like a complete ar5e who was covering his ar5e in the years to come.

    They are running scared lol.

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  • Sold out, I think the second posting was a spoof, the first one @4.27pm looks genuine though.

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  • Did KirstIE post that comment? Poster actually signed KirstY.

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  • And you can bet your boots that Krusty wasn’t the author of the first posting either.

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  • justwatching says:

    wiltshire @32, well said.

    I sold in aug 2005 because I wasn’t happy about the amount of debt I was in. I’m lucky in the fact that I have accomodation with my job. At the time I took a lot of stick at work. To a man, they believed in PWoperty. I just though that prices were bonkers and a small % drop would wipe out my little bit of equity. I cashed in. It is/was a gamble. Now I get no stick at work, all of my good friends now accept that pwoperty prices will fall. The tide has turned.

    I don’t think that there is any class bias in what will come to bear (shipbuilder @ 25). A good deal of people are going to get hurt financially, and this is very sad.

    One chap at work completed in nov06. I suggested that he shouldn’t. He may have to wait a good 15, 20? years until his house is worth what he paid for it.

    I take no pleasure in what may come to pass, the rampant HPI is just a bubble caused by people throwing silly money (most of it not theirs) into housing. I know a childcare worker who owns fook all, who recently bought. “won’t get on the ladder” blah, blah. People believe because they have been brainwashed. Phil & Crusty I think are only culpable if they don’t believe what they are spouting.

    Almost there;
    Finally the brother in law nows agrees with me. SSHHH (he sells mortgages). The branch he works in usually sell 25 ish houses a month. Last month 13. Up to the 21st this month, 4 houses sold.

    Its coming…..

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  • Landedgentry says:

    Suppose they have gone through the denial phase and are now in the blame phase. Really pathetic behaviour.

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  • Landedgentry says:

    Suppose they have gone through the denial phase and are now in the blame phase. Really pathetic behaviour.

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  • Landedgentry says:

    Amazing how the government was up in arms about the development of a “super casino” in a region to the north of this country, but allows these sorts of people to use every media outlet available to encourage the masses to gamble with other peoples money.

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  • Two groups the Torygraph doesn’t mention:

    Growing families stuck in FTB homes who need to trade up but cannot afford to.

    Economists without vested interests either way who know a speculative bubble when they see one.

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  • Thanks enuii i realise now after reading it again it must be a spoof.

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  • Look at the post by James @ 6.11pm

    Oh dear.. brave guy.

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  • shipbuilder says:

    The one overriding message from this article is that the moral sins of greed, selfishness and the ‘rights without responsibilities’ attitude that the media harp on about 90% of the time are clearly only sins when applied to the poor, those on benefits or immigrants.
    On the contrary, abuse of the system, leeching from others, avoidance of responsibility to the wider community and fraud seem to be the ‘right’ of those further up the class scale. It’s just hard-working people ‘getting on’ don’t you know.

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  • 57. Stevie Dee said…The post must have been removed, what was the general theme of his post out of interest?

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  • Thanks to Jack C for the “eat my hat” reference. Go to 21 minutes and 30 seconds. An email suggests that the market was falling. The Honourable Kirstie blames the quiet summer holiday months (it must have been recorded around August 2007) and says, “If it doesn’t come back up this time, I’ll eat my hat.” So I suggest hat-eating time should be the anniversary of this interview (i.e. August 2008), when that month’s annual price fall figures come out.

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  • little professor says:

    Just listened to the “eat my hat” clip – it is from 2005 and what Krusty actually said was that prices would start rising again, after the falls seen in the summer of 2005. That’s exactly what happened (thanks to Merv’s sneaky interest rate cut in August that year).

    I hate her as much as the next guy, but you’ve got to admit she got it right on that occasion.

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  • So, 21 min 30 seconds into the interview:

    http://www.housepricecrash.co.uk/media/media-radio5-mayo.wma

    Can anyone pin a date on the broadcast? Just so we have it on record – this should be used for later phone-ins or web articles, just to remind everyone if she ever comes out with this rubbish again.

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  • 21 min 56 seconds. Thanks by the way jack c.

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  • And Russb. Nice one.

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  • she may have got it right on that occasion,however it baffles me how she is touted as a property expert? she is of course entitled to her predictions on house price rises just the same as everyone else.Virtually all the regular bloggers here have made many predictions on when the crash would start and estimates of % falls for 2008,2009 10,11,,,,,.We are all really just making an educated guess.Unfortunately Kirsty and phils predictions are aired on prime time tv and can affect real peoples lives.

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  • Looks like they have stopped new posts on the article as none have appeared since 6:23pm,I attempted to post this….


    I am a proud housepricecrash.co.uk contributor and have been in some way shape or form since 2004. We number many and we are growing by the day as more and more people are quickly realising that the dynamics of the property market have not changed. The market is cyclical, always has been and always will be. We are now on the downward cusp of a mammoth correction which will see the value of most privately purchased properties in this country fall by 30%+ over the next 2-3 years, and some would consider my predictions as conservative. But to many this is old news now.

    I have kept out of the housing market due to the vast amount of knowledge I have picked up from hpc.co.uk. The site has a motley crew of posters including well informed professional financial advisors, city traders, amateur investors (including BTLers) and the general individual from the street. We all have one thing in common, we are keen to develop an opinion on the housing market and the general state of the economy based on impartial research from as many different sources as possible. Over the last few years it has been noted that there has been significant house price inflation ramping from a variety of sources and media outlets. There has been very little sound advice out there for the average person wishing to own a home. Media sources, in general, offered prejudiced information regarding the property market and rarely outlined the pitfalls linked to purchasing a home. The terms negative equity and repossession were often used in the nineties and look likely to become increasingly popular once again, but these terms were never discussed on Phil and Kirsty’s programs. I do believe these two should take the criticism aimed at them squarely on the jaw for offering bad, biased advice – although the threatening nature of some of the criticism should not be tolerated. However, these two individuals should not be made a scapegoat for fat cat TV directors who allowed such poorly judged property nonsense to be broadcast in the first place.

    As for David Harrison, you talk of the “property speculators, gamblers who bet on house prices falling – and have a vested interest in talking down the market and spreading fear and uncertainty.” All we want is affordable homes to bring our children up in. You also appear to have your lines crossed as the “speculators” and “gamblers” you describe are the very types that bet on house prices going up not down including Mr Spencer and Kirsty.

    Every silver lining has a cloud and for many the future forecast is glum and overcast. Does this make me a “doomster”? No, Rational? Yes.”

    See if it turns up?

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  • @ Monty (60) & Paul (62) the link for Krusty eating her hat came from the HPC forum and I believe the discussion took place on radio 5 on 06/09/2004

    Hope this info helps, Jack.

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  • @ geed 66 – lets hope the telegraph allow the post – content is excellent.

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  • @geed

    The deleted post at 6:11 referred to a proposal that Kirstie should star in a blue movie. The Telegraph acted correctly in removing it.

    I liked your proposed post about this ‘motley crew’ but I suspect that they won’t post it.

    BTW, has anybody noticed that the last Telegraph article posting says:

    “your opinions dont matter anymore.
    AND THATS THE BOTTOM LINE……..”

    Is someone at the Telegraph trying to tell us something or was that just chance?

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  • Jack C & QG…nope it didn’t make the cut. No more posts after 18:23 last night, the last being the one you quoted QG

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