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Debate House Prices
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Grauniad: Prices could be 40% off peak by 2010
Comments
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The "I told you so" argument is a little annoying and boring.
Many many things have changed since the OP posted this. More bailouts, lowest interet rates (Which bull predicted rates this low!? Lowest I saw a bull talk about was around 2%) and also, QE.
All of those things SHOULD have played a part in where we are today. If they haven't and and people would prefer to pretend to say this is a natural pick up in prices, then thats a shed load of billions wasted.
So although I can see the reason WHY people would like to now say I told you so, they also have to remember just how much things have changed. I remember people saying QE was just not viable and would never happen. It happened. I remember a lot of those people in denial about QE were the bulls, because they were all saying "its not that bad!".
I told you so can work both ways....but it's unfair to do it when things have changed so radically no one could have predicted the changes which leaves us where we are now. Therefore, not only have all our predictions been wrong, but so have all the national forecasters and the main forecasting agencies.
What I think more people are starting to cotton onto now is that this is more likely to be a double dip recession. One dip because of the credit crunch, and the second dip because of the rescue efforts of the first dip.
It remains to be seen which dip is the worst. All our cards have now been dealt, there is no trump card left. So now, all we can do is ride the aftereffects. Such as interest rate rises, unemployment filtering through, reposessions filtering through, bankrupcies filtering through etc.0 -
Dervish please take note of Father Graham - he has spoken some wise words0
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Graham_Devon wrote: »Father Graham will speak again.....for once, grow up?!?
yeah Downey, Fatpig, Dervish grow up!!physician heal thyself.
from the Bible, Luke 4:23
you should really take note of it0 -
Graham_Devon wrote: »Father Graham will speak again.....for once, grow up?!?
Just out of interest , why have you got my forecasts in your signature
It wouldn't be a reminder for you to do one of these in the future, would it
The "I told you so" argument is a little annoying and boring.'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 Thatcher0 -
Just out of interest , why have you got my forecasts in your signature
It wouldn't be a reminder for you to do one of these in the future, would it
The "I told you so" argument is a little annoying and boring.
yes but Graham doesn't have mirrors in his house so he can't really take a long hard look sat himself can he... oooops...0 -
I'm not getting the point of this thread. The prophecy would appear to be fairly reasonable, and so far we have headed along in that direction quite nicely. By the end of 2010 - who knows - it could be well be close to 40% off?0
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yes but Graham doesn't have mirrors in his house so he can't really take a long hard look sat himself can he... oooops...
I bet he has loads of them '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 Thatcher0
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