Tuesday, June 9, 2009

Bottom of the market?

Was the end of last year the bottom of the market?

Anne, how about some journalistic integrity for a change. Go on, spend 5 mins working out why this months figures are a statistical aberration, NOT an upturn. LOW VOLUMES give strange up ticks. What you are actually seeing are the final twitches of a dying market, about to plummet into the abyss.

Posted by doomwatch @ 03:22 PM (1833 views)
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12 thoughts on “Bottom of the market?

  • Oh its Anne Asworth. Now is always a good time to get into properdee if you believe her drivel.

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  • mountain goat says:

    Ten Reasons to Buy Stocks Now
    By Jeff Clark

    10) The Feds are already doing everything they can to destroy your wealth. Putting all you have into stocks will get the job done faster and free up their time for other things.

    9) Bernie Madoff thinks it’s a good idea.

    8) You won’t need a calculator to figure out your net worth.

    7) Your broker won’t have to take a second career delivering pizzas. That’ll open up a job for someone else. The employment report will improve, and you’ll be credited with kicking off the economic boom of 2009.

    6) Standing in soup lines is a great way to meet new people.

    5) You won’t feel guilty benefiting from the “Take a penny, Leave a penny” tray at the local Starbucks.

    4) It’s “Opposite Day.”

    3) A diet of Top Ramen and generic beer will bring back all those wonderful memories from college.

    2) Homelessness will take your mind off of global warming.

    And, the No. 1 reason to buy stocks right now…

    1) You won’t have any of those pesky capital gains taxes to worry about at the end of the year.

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  • Oh God. I’ve just realised, now prices are “rocketing” again, does this mean we’ll be subjected to those trite
    Bricks Chicks videos again talking about the Croydon Clapham Borders, and how Streatham has, ahem, “gentrified”.

    Oh no, just spotted Fatty Boulger on BBC 24. He’s crawled out of the woodwork again. Last saw him on the Central line
    near Bank in November looking sozzled at lunch time.

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  • britishblue says:

    What these sad souls don’t realise that in three weeks time another set of survey results will be produced, then 4 weeks later another set. One would have thought if these journalists had a modicum of intelligence they wouldnt be trumpeting words like gazzumping and be talking more in terms of it is safe to buy now rather than iinfer the market is booming again (not my personal view by the way).

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  • “The asking price was £349,950 — good value, according to Peter Rollings, the estate agent’s boss, because 18 months ago it would have been £450,000. Three people made offers at the asking price, but they were trumped by another individual who bid 5 per cent more.”

    Maybe they have paid for somebody to bid over 5% and oops in few months the property is back on the market. We have seen people getting paid just to make a fake queue in front of an estate egent in Belfast.

    Too bad that buyers are not worried of getting on the property ladder anymore…

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  • “In just four days, as many as 27 people viewed a Bayswater flat put up for sale by Marsh & Parsons. The asking price was £349,950 — good value, according to Peter Rollings, the estate agent’s boss, because 18 months ago it would have been £450,000. Three people made offers at the asking price, but they were trumped by another individual who bid 5 per cent more. This is not encouraging news for those waiting for prices to dip lower before they began to view.”

    – on the contrary… Fools rush in Anne, fools rush in!

    Also a note to Peter Rollings – one should realise that a single transaction is only an instantaneous measure of a subset of market participants; there is no bound to time. The specific flat may well have been worth 350K as three buyers valued it as such – that is no indication that it’s current or future worth is such (I might offer you £5K for one of your farts, you accept – the fart was worth 5K, but if I then try to sell it on I seriously doubt I’d get my money back!). Maybe it was one of the few that are good properties which have been marketed at fair value with an open house to achieve interest and a quick sale. Sure sounds like it.

    I would be looking for steep discounts right now, what with all the risk, if I must compete with such fools so be it, I’ll bide my time.

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  • mander – a very good point… offers can fall through, so there is no need for a transaction anyway, could just be a marketing ploy – and I would not put that past an EA with time on his hands.

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  • paranoia blue says:

    Sticks
    Excellent playground example of inflated merchandise! 🙂

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  • another 1500+ jobs lost and yet the recovery is here.LOL

    The ammount of VI’s, BTL chancers, proprty pornstars,estate agents [soothsayers] etc etc who are wetting themselves over this fake recovery/ greenshoots nonsense is just too funny to watch.
    Are they all cocooned from the real world?
    GM files for Bankruptcy, LDV vans goes into administration, llyods axes C & G, Setanta sport going bust and on and on it goes…..

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  • “inflated merchandise” *snigger*

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  • If Ashworth is writing like this now, imagine her condescension if property prices really do go up again. I think the woman is dying to crow about her property again. The article is quite an ugly piece of work, only redeemed by the comments.

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  • “This note of unison may be the most compelling reason why anyone who has been postponing the search for a new home in the hope that bargains were guaranteed to become even more abundant should think again.”

    What makes me smile about this drivel is that there is absolutely no humility. A warning not to miss out on a bottom really shows the naiveity of the author. Did she predict any falls? Nope. Did she predict any counter trend move – nope, will she predict the next wave down – one guess.

    It annoys me that there is not only no admittance that yes she was wrong and had no clue of a pending fall but that the view still (however couched – “may”) states that a market cannot have a counter trend rally unless its merely a move up to new highs. I may be wrong but this smacks – as i have always been prepared for, and along with others here predicted in the past – a bull trap. Will it go higher? Quite possibly and may suck in some mnore bears. If and when Rodge the dodge capitulates on the up side in the words of Terrance Stamp in Wall Street “sell it all”.

    Anne remember picking bottoms gives you….

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