Tuesday, Dec 01, 2009

Take your profits and run?

Telegraph: Home buyers paying £15000 more

Time for a quick exit perhaps?

Posted by smugdog @ 06:55 PM (1209 views)
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8 Comments

1. quiet guy said...

smugdog,

That seems like a balanced posting that covers all the main issues, except for possible problems with sterling.

For those that really need to sell, my answer to your question is yes, take the money while you can.

Judging by the reported price rise, I presume that most of todays buyers have a lot of cash or equity.

Tuesday, December 1, 2009 09:40PM Report Comment
 

2. crunchy said...

My house was built by Ponzi Developements, on a ponzi scheme that has not been replaced with another just yet.

It will not be too long before another with longer legs comes along. Reliquidation will be the trend.

Tuesday, December 1, 2009 10:30PM Report Comment
 

3. letsgetreadytotumble said...

I don't believe this. I monitor RightMove with PropertyBee. There are the same number of houses for sale as 2 years ago, so no shortages. Many houses are on the market for many months, and most show a gradual reduction in asking prices. The market is not as buoyant as the stats suggest. Also, Houseprices.co.uk not only show selling prices, but quantity sold as well. These are much as last year. I don't see any pressures on pushing prices up. My daughter's experiences also shows that trying to get a mortgage at present is difficult.
We are in a fake economy at present. Surely reality has to kick-in at some stage, and that's when I predict prices will nosedive. When brown stops wasting our money.

Tuesday, December 1, 2009 10:44PM Report Comment
 

4. phdinbubbles said...

@letsgetreadytorumble
"There are the same number of houses for sale as 2 years ago, so no shortages."

Try telling that to Tim Weber, grand master of business drivel at the BBC website:

"Dear

Many thanks for your e-mail.

This line was in the original version but, by coincidence, came out when
the story was updated as the survey about mortgage rationing was more
interesting.

We have regularly reported - and attributed - the view from a range of
commentators that supply is relatively low.

The fact that some properties have been on the market for a very long
time may be more a reflection of the individual properties than the
overall market.

Regards


Dr Tim Weber
Business editor
BBC News - interactive + radio http://bbc.co.uk/business"

So, Tom Weber, you regularly print the same view from commentators without spending two minutes to check if what they are saying is corroborated by readily available data. The comment in the article was unattributed - but the regular attributing he says they do presumably didn't apply to this particular article. I present him with simple and convincing evidence, which he dismisses by attacking a figment of his imagination that has nothing to do with what I actually presented him with. Tw@t.

Tuesday, December 1, 2009 11:14PM Report Comment
 

5. crunchy said...

3. letsgetreadytotumble said..."When brown stops wasting our money."

LOL Do you really mean when he is out on his ar8e? I wouldn't guarantee that, looking at recent polls. : (

Tuesday, December 1, 2009 11:27PM Report Comment
 

6. crunchy said...

Ignore, wrong thread.

Tuesday, December 1, 2009 11:29PM Report Comment
 

7. bellwether said...

Suggesting the market musn't get ahead of itself is a claim at being balanced and misses that the market from an undervalued state in 1999 got ahead of itself in 2002 and the doubled from there. The market is nothing but hopelessly ahead of itself.

Against that you have a government who have gone on ALL IN to save property values. This is not primarily because they want to protect the value of their own homes as some suggest but because our economy is now built on expanding credit based on rising prices, and will fall into a brutal reversal (from which it would eventually recover of course) which is politically speaking not an option.

If government are succesful house prices will continue to rise but sterling relative value and purchasing power abroad (all the same thing - I just like lists) will be a significant casualty.

I personally think in the short to medium term the deflationary powers are stronger than the inflationary steps that have been taken and then all steps being taken by the government are inflationary, wages are being held down in the public sector and didn't I read something about cuts in police spending today.

Wednesday, December 2, 2009 10:05AM Report Comment
 

8. bellwether said...

sorry shuld read before I press add comment - meant to say at final bit NOT all steps being taken are inflationary and some are squarely deflationary, I suppose this tempers my comment that government has gone all in, more accurate I suppose to say they have done more than any government before them

Wednesday, December 2, 2009 10:08AM Report Comment
 

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