Dr Bubb on housepricecrash predicted all this in 2005. Where were the experts then?

Conrad

How is it a bunch of fringe loonatics on a forum were able to pretty much predict this whole sorry credit crunch, where all the experts didn't even see it comming?


Why is this not being addressed in the media?


In Dec 2004 I input a search into Google;

house price crash

Sure enough up came a web site with that very name.

Right back then Dr Bubb and others with names like VAN and Cgano were writing about a comming credit crunch. I even ventured my own thread in which I imagined one lender after another dropping like flies as prices fell and sub prime borrwers were trapped without an exit remortgage route.

During that time and indeed even right up to 2008 most experts, the FSA, lenders, economists, newspaper hacks, tv property !!!!!! hosts, radio chat show hosts and just about everyone thought a price correction an impossibility.

"Demand exceeds supply and there are lots of Polish plumbers comming so a crash wont happen" we were told time and again by a grinning moronic automated Hazel Blears & co.

KATE BARKER (Offord academic:rolleyes: ) of the Bank Of England MPC in 2004 published a body of work on behalf of Government. I WAS LIVID. Her research lead her to the conclusion prices and demand would keep on rising.


I'm not intelligent, I just observe the world - why couldn't industry boses and MPs do the same?

How was it the experts didn't see this comming?

PS - heres another prediction - there will be mass resnetment when anologue TV is switched off. AS EVER THE EXPERTS DONT SEEM TO BE AWARE OF WHATS GOING ON :rotfl:

sarkin

I take it your not going to be buying any more BTL's then?

drbeat

Govt did nothing because they rather enjoyed the tax revenue that this criminal boom brought in. The banks did nothing because the traders/dealers/investors were only interested in massive bonuses and the sheeple did nothing because they were desperate to get onto to property ladder at any cost.

They all thought it could go on and on forever; that's why they did nothing!

Conrad

Sarkin

I put an offer in on one down to £160k from £225kish but Ive got cold feet. I'm now minded to think we will soon be awash with these uber bargains.

I was a rubbish investor anyway - far too gittery, hence selling my B2Ls without making much after tax.

HelpWhereIcan

I think many HPC regulars had a problem taking CGNAO too seriously let alone industry experts

Gangstabird

I reckon Bliar knew this would happen. Note that he upped and b**ggered off when it began. He knew that Labour wouldn't get in at the next election so it didn't matter to him. I also suspect that he will bang on about the country being in a great cash position whilst he was in power. You watch and see.

Our government don't care about what really happens to this country. Too busy feathering their own nests.

Oh and wait for the announcement that Bliar & the Wicked Witch are moving to Europe - this is coming.

HelpWhereIcan

Being at the extreme of any point of view in an argument is a good way to get noticed. Unfortunately, being noticed does not equate to credibility.

I lost track of the number of times I would be with someone on a point and they would then start talking about barter economies and mansions being available for the then price of a 2 bed semi in S!!!!horpe (or whichever S hole the poster thought was overpriced)

Gangstabird

OH and you are right about HPC, though they couldn't say when, they were right but it didn't take a fool to see that this would happen. Houses couldn't just go up & up and up until a one bedroom ex council flat in Hull was £1 million.

pickledpink

It should have been obvious to everyone that the boom could not continue: booms always bust. That's why I sold at a price 'I couldn't refuse';)

It was evident in the Spring of 2007 that the boat was rocking - and I jumped ship soon after. But I was fortunate in that I had enough equity to buy outright (and a better place at that too).

Price rises/drops will have no impact on me now - if my property drops in value so do others. And when eventually other properties start to rise again - so will mine.

There's no science to this. House prices soar - and they drop. But they always bounce back. It's just knowing WHEN.

HelpWhereIcan

Gangstabird wrote: »

Houses couldn't just go up & up and up until a one bedroom ex council flat in Hull was £1 million.

Nowt wrong wi 'ull - it's that craphole Beverley you wanna be pickin on - ye Langer :rotfl:

100% Correct Guaranteed

Apologies - just could not help myself.

Turnbull2000

HelpWhereIcan wrote: »

I think many HPC regulars had a problem taking CGNAO too seriously let alone industry experts

Earlier this year he tipped Lehman Brothers to be the next big failure. He got that one right!