Tuesday, Dec 15, 2009

Still plenty of bulls out there!

The Times: House prices continue rise, defying expectations

The title says it all really so I'm not going to bother with detailed analysis. The BBC has a similair report based upon RICS recent proclamations: http://news.bbc.co.uk/1/hi/business/8412399.stm. So is this a logical way to protect your wealth by securing hard assets or just another sign of the UK's unquestioning faith in property?

Posted by quiet guy @ 02:48 AM (2349 views)
Add Comment
Report Article


1. Lost Password said...

More garbage from Rebecca O'Connor. I don't know why Murdoch continues to employ her. There must come a point where even he realises that saturation property ramping articles discredit his rag.

Tuesday, December 15, 2009 07:24AM Report Comment

2. will said...

So we remain in a housing bubble.

If property owners are un-willing to give up their hard earned cash then the just how are they going to realise their profits?

Tuesday, December 15, 2009 07:46AM Report Comment

3. paul said...

But this is property uber-bull Becca.

She's always spouting this claptrap.

The UK does not have unquestioning faith in property either - in fact it has quite the opposite which is why the media and official bodies like the Bank of England have to constantly make press releases trying to reflate the deflating property bubble.

By the way, which BoE policy objective does such a press release meet exactly? As far as I can see, white lies like those actually works against both price stability and low inflation.

Tuesday, December 15, 2009 08:18AM Report Comment

4. quiet guy said...


Good comment but I have to disagree in one respect.

"The UK does not have unquestioning faith in property"

I honestly think that the average joe still considers owning property a necessity and it will take a huge jolt to change that perception.

Tuesday, December 15, 2009 08:26AM Report Comment

5. a saver said...

If HPI is really back underway, rather than some kind of distortion of the stats, the government should do something to discourage it.
The more HPI, the more people stand to lose if the market finally gets back to fair value.

Tuesday, December 15, 2009 09:04AM Report Comment

6. Government Planner said...

This situation will likely persist while homeowners hold low interest rate mortgage deals, which wouldn't be replicated if they bought a new home. Homeowners thus can't afford to move home: pent-up supply. Eventually these deals will expire, supply will rise, and prices will fall.

Tuesday, December 15, 2009 09:47AM Report Comment

7. taffee said...

unemployment up,wages falling,tightening of money supply....worst recession since 1930's....house prices up?

makes no sense

Tuesday, December 15, 2009 09:49AM Report Comment

8. mrflibble said...

People are bored with the recession, we've been at it now for two years, the housing bottom was called months ago, the recovery is a mere six months away (for the seventeenth time). Obviously it is now time to buy, never been a better time, prices near peak, base rate at a 300 year low, what could possibly go wrong?

Tuesday, December 15, 2009 10:00AM Report Comment

9. taffee said...

most bubbles take years to sort out

For instance gold and oil bubbled in 1980 and then fell for TWENTY YEARS before recovering

The stock crash in 1929-1932 took 26 years to get back to peak
But don't worry 2 years and a 10% correction will be fine for the UK

Tuesday, December 15, 2009 10:22AM Report Comment

10. greenshootsandleaves said...

a saver@4
You are right to question whether HPI is back. We are repeatedly told that the average 'selling' price (have to use inverted commas because of the industry's annoyingly loose definition of the term, but never mind!) is up. We're also told, but more discreetly, that the market is thin and, even less audibly, that asking prices keep coming down. Those are two very strange reactions on the part of would-be vendors!!! You'd expect them to want to take full advantage of the current market conditions. Now, I know this may sound outlandish but could it be that the people who are currently buying tend to be the sort who do not need a mortgage and, by the same token, are interested mainly in the more expensive properties?
Come to think of it, would anyone ever claim that the motor industry's problems are over simply because sales of luxury cars happen to be slightly up?

Tuesday, December 15, 2009 10:48AM Report Comment

11. smugdog said...

Look into my eyes, look into my eyes, the eyes, the eyes, not around the eyes, don't look around my eyes, look into my eyes, you're under. ...

Tuesday, December 15, 2009 11:18AM Report Comment

12. fallingbuzzard said...

Its hyperinflation...lol.

Tuesday, December 15, 2009 12:09PM Report Comment

13. timmy t said...

Smugdog - you should meet up with Crunchy for a chat... It would be like a scene from One Flew Over the Cuckoo's Nest!

Tuesday, December 15, 2009 12:27PM Report Comment

14. smugdog said...

Timmsy, it's all an illusion. Stupid Street cannot see that their pile of ever decaying bricks is not actually worth what they think it is.

The Government is but a skilful Conjurer displaying moments of master trickery.

But hey, take part, as long as you realise it’s just a con that could collapse at any moment.

3-2-1, you’re back in the room!

Tuesday, December 15, 2009 04:19PM Report Comment

Add comment

  • If you do not have an admin password leave the password field blank.
  • If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines
Admin Password
Email Address

Main Blog | Archive | Add Article | Blog Policies