Bottom Called

BlondeHeadOn

But isn't it "different this time"? Or so I keep hearing....

Oh no, that was the house price bubble.



Sorry, I'm not saying he is wrong but I will believe it when I see it....

BlondeHeadOn

Just to add: I hope he's right though. It would be good news if this is as bad as it gets.

adr0ck

BlondeHeadOn wrote: »

But isn't it "different this time"? Or so I keep hearing....

Oh no, that was the house price bubble.



Sorry, I'm not saying he is wrong but I will believe it when I see it....

for a lot of people it would be too late then

ad44downey

adr0ck wrote: »

this guy correctly called the bottom of the last crash

He probably called the bottom every month during the last crash. He had to be right in one particular one month.

ad9898_3

adr0ck wrote: »

he called it once

are you listening now

Best get out there then, don't want to miss the boat, on second thoughts I think I will carry on saving, no crash in history as been 'V' shaped, so even if he was right, we would now be starting the 3-5 years of 'bottom'.

bendix

I love this. The head of a property company calls the bottom of the property crash. Ummmmm, well, he would, wouldn't he?

Then the next lines talks about adding 44,000 new units this year to a market which is struggling to find any buyers at all.

Brilliant. Give that man a Nobel Prize for Economics.

As an addition, why is it that when anyone calls a bottom to the housing crash they ALWAYS work in the sector. Some coincidence, surely

Cleaver

Has anyone done a 'I'll call you a bottom' gag yet? I was going to, but I'll leave it for mewbie.

I know what bendix is saying about a head of a property company calling the bottom due to vested interests, but surely if you call the bottom and are completely and utterly wrong then your reputation is a bit shot, especally in your specialist field?

Although I'm normally an optomist and tend to see the more postive side of things I see no reason why we're anywhere near a bottom (insert gag here). No real sign of easing credit, people still holding on for silly prices in most areas and (this is a clincher) if a house daown sarf was 300k in 2007 and has now fallen to 240k it's still a bit expensive really, innit? Also agree with Ad that even if this is the bottom, we'll be scrabbling around there for a while (insert gag 2 here) so there's no real rush.

bendix

Cleaver wrote: »

I know what bendix is saying about a head of a property company calling the bottom due to vested interests, but surely if you call the bottom and are completely and utterly wrong then your reputation is a bit shot, especally in your specialist field?

quote]


Not really. People have short memories. Today's newspapers are tomorrow's fish and chips wrappers. Noone really cares. Most of these stories are put out by the companies' PR people just to get exposure. People hold them no more accountable than they do the magical roll-out of stock analyst every January to pick the next twelve months market movements - it all !!!!!!!!, frankly.

wolvoman

bendix wrote: »

I love this. The head of a property company calls the bottom of the property crash. Ummmmm, well, he would, wouldn't he?

Then the next lines talks about adding 44,000 new units this year to a market which is struggling to find any buyers at all.

Brilliant. Give that man a Nobel Prize for Economics.

As an addition, why is it that when anyone calls a bottom to the housing crash they ALWAYS work in the sector. Some coincidence, surely

Likewise why is those always calling for the situation to get much worse are renting and hoping to buy at a cheaper price. Hypocrisy on both sides I'd say.

Oh and I recall many people forecasting an imminent property crash in 2001 and they kept saying it for 7 years. Of course they still believed they were right.

Conrad

These developers are in dreamland.

One just cold called me - Berresford Barras, or something, trying to get me interested in investing in a development in Samos, Greece.
She said "buy now at 45% under value and make that back by the time its built in 18 months".
I pointed out that almost no one made much, if any capital appreciation doing new build off plans in the last 3 years, but she seemed completely oblivious.

Ant the prce for a tiny studio, which you cant get a direct flight to outside peack season.............

£175000

or £750,000 for a modest size 3 bed villa!