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Debate House Prices


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This crash will be Worse the 70's or 90's !!

ultra10
ultra10 Posts: 379 Forumite
in Debate House Prices & the Economy
http://www.ft.com/cms/s/d01b1e90-74da-11dd-ab30-0000779fd18c,Authorised=false.html?_i_location=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F1%2Fd01b1e90-74da-11dd-ab30-0000779fd18c.html&_i_referer=http%3A%2F%2Fwww.ft.com%2Fworld%2Fuk%2Feconomy

Big Link :D but to at least part of the respected "Lex" column in the FT, further evidence of how bad things are going to get for the property market..as if any were needed !!
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Comments

  • Ionkontrol
    Ionkontrol Posts: 802 Forumite
    Media make big unsubstantiated claims. Big deal. Yes it will, not it won't. That's what sells papers and fills columns. Why even bother to start a thread about this crap. Tomorrow's chip paper. Do you people on this forum earn nectar points for quoting !!!!!! journos....?
  • dopester
    dopester Posts: 4,890 Forumite
    Ionkontrol wrote: »
    Media make big unsubstantiated claims. Big deal. Yes it will, not it won't. That's what sells papers and fills columns. Why even bother to start a thread about this crap. Tomorrow's chip paper. Do you people on this forum earn nectar points for quoting !!!!!! journos....?

    Don't blame the media for reporting experts on economic realities which endangers your bubble world.

    The time of Kirstie and her ilk are over, and now the newspapers are forced to listen to the experts it dismissed during the manic property boom.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    Ionkontrol wrote: »
    Media make big unsubstantiated claims. Big deal. Yes it will, not it won't. That's what sells papers and fills columns. Why even bother to start a thread about this crap. Tomorrow's chip paper. Do you people on this forum earn nectar points for quoting !!!!!! journos....?

    I agree with you by and large but you're rather harsh on dear old Lex. It's probably the most respected column in financial circles. I always turn to the back page of the FT first and they don't print the cricket scores there!
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    dopester wrote: »
    Don't blame the media for reporting experts on economic realities which endangers your bubble world.

    The time of Kirstie and her ilk are over, and now the newspapers are forced to listen to the experts it dismissed during the manic property boom.

    You mean those same experts that were predicting 40% drops in 2002
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • justpurchased
    justpurchased Posts: 581 Forumite
    dopester wrote: »
    Don't blame the media for reporting experts on economic realities which endangers your bubble world.

    The time of Kirstie and her ilk are over, and now the newspapers are forced to listen to the experts it dismissed during the manic property boom.

    Dont blame the media, then you go on to kirsty, i thought TV was included in the media!
    I agree in part though, it was not the media that made prices go up and it will not be them who makes them come down.
  • dopester
    dopester Posts: 4,890 Forumite
    StevieJ wrote: »
    You mean those same experts that were predicting 40% drops in 2002

    They were right.

    It isn't their fault property went in to a super-bubble stage, then a manic stage bubble.

    We shall see.
  • Generali
    Generali Posts: 36,411 Forumite
    10,000 Posts Combo Breaker
    dopester wrote: »
    They were right.

    It isn't their fault property went in to a super-bubble stage, then a manic stage bubble.

    We shall see.

    It's impossible to pick the top of a bubble IMO as they are irrational by definition.
  • Jonbvn
    Jonbvn Posts: 5,562 Forumite
    Part of the Furniture 1,000 Posts
    I recall a placard a colleague had on his desk a few years ago:
    "Shall we call an expert, or shall we scr*w it up ourselves?"
    Seems apt given the number of experts telling us the end is nigh.

    IMHO "economic science" is up there with astrology!
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    dopester wrote: »
    They were right.

    It isn't their fault property went in to a super-bubble stage, then a manic stage bubble.

    We shall see.

    I get it now, I guess you believed them and sold your house.
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • justpurchased
    justpurchased Posts: 581 Forumite
    Generali wrote: »
    It's impossible to pick the top of a bubble IMO as they are irrational by definition.

    Thus impossible to pick the bottom of the market. IMO
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