Friday, January 2, 2009

Anne Ashworth, ever the optimist

The future for housing is bright if you don't mind staying in for a year or two

Some groups have been forecasting house price declines for most of the past decade and have finally been proven right. But there are hordes of bargain-hunters who want to acquire properties “before they see the light at the end of the tunnel” - that is, in the period just before the recovery arrives. The motive for this speculation is this: when signs of recovery become visible, more timorous buyers will be encouraged back into the market, propelling prices upwards. If timed correctly, it offers the potential for considerable gain. The search for deep discounts is taking some of these thrill-seeking buyers to property auctions where, in the opinion of some commentators, prices are already as low as they can go.

Posted by little professor @ 12:23 AM (1794 views)
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14 thoughts on “Anne Ashworth, ever the optimist

  • I like the Japanese investor angle – Why would you want to invest in London? – as a holiday home maybe ( unlikely ) or maybe to take advantage of our financial services ( oh i forgot they are in tatters ), maybe somewhere cheap to retire too ( not looking stable ).

    Maybe if you are a Japanese investor you should wait and pick up a bargain at 10% of the current price not 50% <<< Just maybe of course they know this and Anne Doesnt, just maybe things dont look that good in Japan to worry about buying London properties anyway !!!

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  • Wrong, Anne, wrong. Look at what happened in Japan after the bursting of the early 1990s debt bubble – the famous “Mount Fuji” graph:

    Buyers will not be “propelling prices upwards“, madame you are economically illiterate. The bubble we have witnessed was an aberration, a mania, a collective financial madness on the scale of the roaring twenties. It will not be repeated again (in our lifetimes) and there will be no “potential for considerable gain“.

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  • With global bargains like these, the start of the recovery may well be driven by equity-rich investment from the Far East or Europe.
    Firstly, would you invest in a country where unemployment is set to rise and whose main source of revenue (the City) has just collapsed? If so then why aren’t you already investing in Icelandic property? Thought not….

    Secondly, how rich are these Far Easterners or Europeans? Here’s a chart of the Far Eastern stock markets in 2008 (India and China):

    Here’s a chart of European stock markets in 2008 (France and Germany):

    (source: Yahoo! Finance)

    The entire world is retreating, too busy fighting fires at home to look for fresh timber overseas. Unemployment is rising everywhere. People are holding on to cash in case they lose their jobs; they aren’t confidently investing in worldwide property.

    Besides, in the past the wealthy foreigners who bought property in London were mostly very well-paid bankers who actually lived and worked in London. Now many of those bankers are losing their jobs and retreating to France or Japan or wherever they came from. Those who still have their jobs have lost their bonuses and won’t be buying property. The Poles are heading home so less rental demand for BTL slumlords. The Brits are losing their jobs so less demand across the board.

    Even if overseas investors did “pull prime central London out of the dolrums“, it wouldn’t have any effect on prices in Liverpool or Stirling or Exeter. This is no time to be looking for a bargain!

    The entire world is quickly learning that property isn’t a one-way bet. When will Anne Ashworth learn the same thing?

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  • charlie brooker says:

    I never needed reassurance or confirmation from anyone that my decision to leave the UK was the right one, but this article is the best confirmation anyone could have provided.

    If a newspaper journalist developed a crack habit and encouraged their readership to follow in their footsteps you’d expect them to sacked if not arrested.

    Instead, Ashworth has tempted millions to join her house rave, getting them hopelessly addicted on her ‘City Snow’ (slang for cocaine, which in this case is an analogy for credit).

    If Ashworth had a decent bone in her body you’d expect her to depart the scene, silenced into recrimination at the millions of lives her dealings have helped destroy. But no.

    Despite the pain of the (Mortgage Equity?) withdrawal symptoms she has helped inflict on those millions of ravers (sorry, borrowers), like some viciously anti-social credit-pusher Ashworth now aims orchestrate to destruction of the lives of the next generation, tempting naive FTBs with the come-on “you know you want to’. What a fecking sociopath.

    You wouldn’t let Pablo Escobar run The Priory so why the feck is Ashworth bring given a voice on the economy? She is her clienteles’ worst fecking enemy.

    Why are those that encouraged the catastrophe in the first place still being given a voice? Where is the revolution to remove them from power? Will the country of my birth ever recover while these bastards are free to walk the streets? Until people like Ashworth and their nasty agendas are seen in the same light as drug dealers there’s not a chance. And that is one big reason why I must alas make a life elsewhere.

    In Singapore drug dealers get death.

    Yours,

    Charlie (geddit?)

    PS I would be interested to see all the government’s anti-drug propaganda rewritten to be turned on the banksters and their sociopathic minions like Ashworth and Allsop. It wouldn’t be difficult but would be hugely revealing. Perhaps the reason the British public don’t revolt against the banksters is because traditionally it has been associated with the elite and therefore must be a good thing, whereas drugs is adsociated with the lowest of the low life; its beneath us and therefore can more easily be condemned. Well, here’s the news folks; as drugs are too low life so banking is to the elite; its a method of profiting by maintaining control over the gullible.

    One comes in the form of white powder. The other bears the Queen’s head – so that must be respectable then.

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  • Charlie,

    Nice post. In Britain, drugs aren’t associated with the lowest of the low life. Look at all those celebrities caught snorting coke, nobody but the Daily Mail bats an eyelid. The white powder is heavily associated with glamourous lifestyles and rich city folk. The sight of Kate Moss eating a Big Mac would cause far more hysteria than if she was snorting cocaine.

    The good news is that bankers will lose their grip on the popular imagination. Without their monstrous bonuses, bankers are just ordinary employees. They can no longer afford to host private cocaine parties for their celebrity chums so they will no longer be associated with the elite.

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  • charlie brooker says:

    Drewster, you raise a good point I hoped someone would pick up on.

    See traditionally the famous (perhaps with the exception of rock stars) have shunned drugs or kept a very tight lid on their addictions lest they be shamed into ostracisation and obscurity.

    I wonder if behind the scenes – at some NWO type meeting – a strategy was cooked up to remove the public’s taboo on succumbing to temptation. Getting people addicted – to drink, drugs, reality shows, credit, whatever – renders them compliant, incapable of thinking for themselves and easy to manipulate for profit on a global scale.

    Drugs was the key – pairing Moss with Doherty was part of the strategy for turning one of the world’s most photographed women into someone who so publicly through off any remaining morals and inhbitions to flaunt narcotics as chic.

    The public were repeatedly told night after night in the Murdoch freebie papers that we now lived in a new paradigm were old rules no longer applied and readers might therefore wish to consider immorality in other walks of life too – such as lying to get mortgages.

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  • charlie brooker says:

    Cont . . .

    It cannot have escaped anyone’s attention the numbers of celebrities who over the last ten years have claimed to have had drug problems at some point in their lives. For the celebs such claims were a magnificent career move often resulting in a rather agreeable fee for the tabloid serialisation. The newspapers have lapped up what they would have you believe they would condemn as immoral – all the while refraining from actual condemnation. After all, you wouldn’t want to condemn the very behaviour you’re trying to encourage, would you?

    After a while celebs get more hooked on stories about their addictions than the original problem itself (Kerry Katona for example). Even the angelic Katherine Jenkins has tried it Yeah, like we bought that one – ha ha.

    Ultimately the strategy worked. There has been immoral behaviour on a massive scale throughout the UK and that is why the country is in the mess it now finds itself in.

    What all this has proved to me is the ineffectiveness of the Church to understand what is really going on in the world and take a stand against it. Only in the last few weeks have members of the clergy found it within themselves to protest. Where were they when the bubble was forming? Where were their protests then? What was the reason for their silence? Easy : Their conflict of Interest. They were dfoing very nicely thank you from the gains on their land portfolio. What is the point of a Church that will condemn greed only when they are its victims?

    And its because so few in the UK will take a stand against immorality when it is happening that I have chosen to move abroad.

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  • I just wish this woman would keep her stupid mouth shut.

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  • yorkshireman says:

    Happy New Year. IMHO there is only one “potential for considerable gain” and that is manufacturing real goods and competitively selling them. It is what made Britain great ,while Ms Ashworth, her mantra and her many deluded followers have brought this country to its knees.

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  • phdinbubbles says:

    Not very impressed with the way the Times seems to have deleted all the comments at the bottom of this story.

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  • agreed phdinbubbles – mine wasn’t even particularly offensive and they haven’t published it.

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  • What this person does not realise is that the economic machine is broken, there is no point in blowing air in another baloon that has holes in it, excepting that others will be duped into holding on to sinking investments, while wiser people flee the market. We need a wealth producing economy. We have been deceived by money-grubbing cynics, who generate billions for themselves without due care or conscience. Bank robbers, shop robbers are locked up for a long time. Men who steal billions should be treated the same. People, like this author who seem to think “a sucker is born every minute” are trying to dupe the public, or have been duped themselves.
    The concept of domestic property being a good investment at this time is as insane as was the export of jobs to countries like India. It was a result of the bubble warping the real economy-we must not let it happen again or we will destroy England for a generation. A housing boom favours the incumbent government but produces disaster. As the Acrhbishop said, borrowing to restart the cycle is a bit like the heroin addict returning to the needle. Just as talking up another boom is repeating the same error-or is there intent here? Intent to dupe others? I fear it is the banks who are behind it. They seek to divest themselves of polluted assets, and they need some fools to buy them at an inflated price.
    I note the Times is censoring many comments. It looks like The Times failed to warn the English people of what was going on before the crash, and is now just a tool of self-interest and the state. Pity it was sold to Newsgroup, they are not democrats, but loud-mouthed cynics.

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  • Anne Ashworth should be hung, drawn and quartered.

    We need to send a few messages to these scumbags!

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  • I have long been of the opinion that Anne Ashworth must be in the pay of estate agents. Why does the Times employ her? Any objective analysis of her columns shows she is entirely biaised. And a dangerous peddlar of lies.

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