Buy to Let now...or wait a year??

Realy

baby_boomer wrote: »

Read any newspaper and you'll get the picture.

The Council of Mortgage Lenders has stopped predicting the housing market because it's so afraid of the future.

Well I think they said it was futile (I don’t think they said they were too scared). Which I agree with, as any prediction is just a guess and has no bearing on the market.
What good does a predication do? You just open yourself up to be proved wrong.

baby_boomer

I don't think they're proposing to give up predicting for ever .

mewbie_2

Realy wrote: »

Well I think they said it was futile (I don’t think they said they were too scared). Which I agree with, as any prediction is just a guess and has no bearing on the market.
What good does a predication do? You just open yourself up to be proved wrong.

We all, well most people, make predictions constantly. How much will I save next year? Will I get that promotion? Shall we plan for the new baby? Is it worth building an extension? These are example questions based on looking forward to the future and making some sort of prediction.

In the case of businesses, predictions are vital to the planning and budgeting process. For the CML, I would expect their predictions to be useful to others in the industry - shall we keep on that surveyor, shall we open a new branch, etc.? You cannot run a business without trying to predict the future.

What is strange (actually its obvious really), is that the CML were happy to 'predict' when the market was going up. Didn't seem to matter if they got it right or wrong. But now they seemed to have changed their minds. Funny that.

Realy

mewbie wrote: »

We all, well most people, make predictions constantly. How much will I save next year? Will I get that promotion? Shall we plan for the new baby? Is it worth building an extension? These are example questions based on looking forward to the future and making some sort of prediction.

In the case of businesses, predictions are vital to the planning and budgeting process. For the CML, I would expect their predictions to be useful to others in the industry - shall we keep on that surveyor, shall we open a new branch, etc.? You cannot run a business without trying to predict the future.

What is strange (actually its obvious really), is that the CML were happy to 'predict' when the market was going up. Didn't seem to matter if they got it right or wrong. But now they seemed to have changed their minds. Funny that.

But any prediction they make as no bearing on the market so it is futile to predict prices will drop as it will not make people buy or not buy!

Don't get me wrong if you sell goods ect. predicting future trade is important as you a have target to work to, but they are just a body like the RICS so have no target etc.