Thursday, March 19, 2009
Spring bounce, dead cat bounce or blatant ramping?
From a largely fact-free article "The number of homes changing hands rose to its highest level for a year during February as a recent jump in buyer interest translated into increased sales, new research shows... The National Association of Estate Agents said ... the rise in transactions showed that the increase in buyer demand seen during January was beginning to generate more sales, as consumers believed there were "bargains to be had" in the property market. It added that with record low interest rates making savings accounts less attractive, growing numbers of people were were willing to make a long-term investment in bricks" Sorry, they're not investing in bricks and mortar, they're investing in inflated land values (cont. page 94).