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Debate House Prices


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most mainstream forcasters failed to see the crash

geoffky
geoffky Posts: 6,835 Forumite
in Debate House Prices & the Economy
most mainstream forecasters failed to see the crash .so why should we take any of their ramblings as gospel.. its just like the ones on here who were saying there will not be a house price crash two months before the market went tumbling and are now saying we are near bottom..........i f they could not get such a thing right that many on here and over at hpc.co.uk got spot on what does it say about the drivel that are coming out with now..
It is nice to see the value of your house going up'' Why ?
Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
If you are planning to upsize the new house will cost more.
If you are planning to downsize your new house will cost more than it should
If you are trying to buy your first house its almost impossible.
«13

Comments

  • pizzagirl
    pizzagirl Posts: 356 Forumite
    Yes, Geoff, these are the same buffoons who said give us your money and we'll invest it wisely for you. And then proceeded to lose half of it.
  • 1echidna
    1echidna Posts: 23,086 Forumite
    I fear that lots of people knew there was a bubble. It is terribly difficult to tell when a bubble will burst, as any schoolchild knows, and there were those who thought the bubble could be managed and protected from influences which might burst it. Most forecasters were caught out, but that is inherent in the nature of bursting bubbles. Clearly there were those in denial when it was apparent that the bubble had been pricked in the vain hope of patching it up before it deflated, pretty much as a drowning man clutches at straws. Certainly leaves a big credibility gap for mainstream forecasters but I think there will come a time when they are back on track or there abouts again.
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    geoffky wrote: »
    and over at hpc.co.uk got spot on what does it say about the drivel that are coming out with now..

    You mean like the market was going to crash in 2002 :rolleyes:
    '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
  • geoffky
    geoffky Posts: 6,835 Forumite
    StevieJ wrote: »
    You mean like the market was going to crash in 2002 :rolleyes:

    I would not know steve i was too busy finalizing my retirement plans in 2002..;)
    It is nice to see the value of your house going up'' Why ?
    Unless you are planning to sell up and not live anywhere, I can;t see the advantage.
    If you are planning to upsize the new house will cost more.
    If you are planning to downsize your new house will cost more than it should
    If you are trying to buy your first house its almost impossible.
  • ess0two
    ess0two Posts: 3,606 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Plenty of average joes on here claimed to have seen it coming.
    Official MR B fan club,dont go............................
  • 1echidna
    1echidna Posts: 23,086 Forumite
    ess0two wrote: »
    Plenty of average joes on here claimed to have seen it coming.

    Memory is often selective on these matters
  • ess0two
    ess0two Posts: 3,606 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    1echidna wrote: »
    Memory is often selective on these matters

    Or hindsight
    Official MR B fan club,dont go............................
  • brixham
    brixham Posts: 208 Forumite
    Part of the Furniture
    So did any body forecast it and get the timing right ?
    I don't mean any of us lot ........I mean the "professionals":rolleyes:
  • Graham_Devon
    Graham_Devon Posts: 58,560 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    StevieJ wrote: »
    You mean like the market was going to crash in 2002 :rolleyes:

    That was a select few, NOT the whole of HPC as a collective.

    On a collective scale, they were out, as they all have different opinions, like we do on here. So "HPC" in itself, could never be right as a whole.
  • 1echidna
    1echidna Posts: 23,086 Forumite
    ess0two wrote: »
    Or hindsight

    Yeah an average Joe like me can one minute say that he is very worried and then the next minute sublimate his fears and think that everything will continue to roll along nicely. Mainstream forecasters cannot chop and change depending on their mood as what they say is a matter of record.
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