Saturday, June 20, 2009

Confidence can’t buy me cash

No upside in these knock-down prices

"So, with unemployment up at 2.26m, house prices likely to keep falling (hence creating a reverse wealth effect) and earnings growth pathetic, it is hard to see how we progress from here."

Posted by letthemfall @ 10:31 AM (1038 views)
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3 thoughts on “Confidence can’t buy me cash

  • “No upside in these knockdown prices”. Tell that to the buyers.

    It’s no use being a bear forever. I’ve seen plenty of bulls turn bearish, but very few bears turn bullish, they are just too miserable. Look around you – and don’t tell me there’s no cash out there – do some proper research. There’s plenty of it and those buying certain assets now are going to make out like bandits while the bears hide in their caves.

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  • Au contraire Soothsayer. If your interest in property is greed-based, ie to make a killing, you would do better to wait until the full effects of recession are felt. Contrary to all the government spin, this recession is still only near its beginning. All I can is wake me up five years from now when prices have genuinely bottomed out.

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  • @ peeping tom – I agree. Note that the Getty ‘steal’ she mentions took place in 1938, eight years after the stock market crash.

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