Harder to rewrite history than you think Bulls.

heathcote123

geneer wrote: »

http://news.bbc.co.uk/1/hi/6382399.stm

Lest we forget.

lalala . geneer lives in a big house that he bought after an epic crash.

Those who say he is still renting, while knocking on 40, having spend many years telling everyone how right he is on internet forums is a moron.

HAMISH_MCTAVISH

geneer wrote: »

.
would following that advice have benefited any readers?

Most likely not.

Because the advice was first issued many years earlier, and was wrong about both timing and scale.

As the hpc collective has discovered to their cost....:D

Rinoa

geneer wrote: »

So timing yeah?

What a shocker.

Gotta say, not pin pointing the timing is understandable.

Utterly failing to see it coming at all......not so much.

Please let us know when you find a cheap house in Edinburgh.

geneer

Thrugelmir wrote: »

Seems as if you have a facsination with Jonathan Davis. Judging by your post.

Easy to rubbish another persons views when they don't align with your own. Far harder to put up coherent points to debate the issues fully.

Does time really matter? As many issues are far from resolved.......

Indeed. Pundits appear to be a fairly sensible bunch.
They do have to accept their failings and move on.

JD has stated that the extent of government intervention was not and could not have been part of his predictions, and the predictions of others like Capital Economics.
By the same token the flood of easy money and the banking industrys rush to self destruct could not have been included in predictions. Arguably a correction should have occoured in 2005/2006. And arguably, the world would be in much better shape now if it had.

None of the bearish commentators looks back and say they were 100% right in their predictions. Logically, they cannot. The evidence is apparent. They can however seek to understand whats happened, and incorporate this into subsequent analysis and predictions. So when JD says a crash is coming in 2007, and some VI clown says otherwise.....well lets just say its apparent who is the most credible.

You have to laugh at the bulls, and all their yip yap about stop clocks etc. They rabbit on and on about "supply vs demand" throughout a 10 year bubble and then, post crash, claim to be right at every point in which prices weren't falling.

And as to why won't they fall any further. Supply and demand. :rotfl:

Its a nonsense.

geneer

Rinoa wrote: »

Please let us know when you find a cheap house in Edinburgh.

Irrelevant.

And you have neglected to answer the question.

For obvious reasons.

geneer

heathcote123 wrote: »

lalala . geneer lives in a big house that he bought after an epic crash.

Those who say he is still renting, while knocking on 40, having spend many years telling everyone how right he is on internet forums is a moron.

Looks like another poster who finds himself incapable of answering a simple question.


Come now Fubra/Heathcode.
People in Half houses shouldn't throw stones.

For those of you unaware of the reference Heathcote was bearish on house prices in 2003 He changed his mind and bought in spring 2007. But he only bought 1/2 a house. He still rents the other half.

geneer

HAMISH_MCTAVISH wrote: »

Most likely not.

Because the advice was first issued many years earlier, and was wrong about both timing and scale.

As the hpc collective has discovered to their cost....:D

Doesn't answer the question Hamish.

Who was right in the article in question?
And would readers who followed that advice have benefitted?

Doesn't seem like it should be that difficult to answer.
Are you going to?

Thrugelmir

HAMISH_MCTAVISH wrote: »

Most people in this country would have been better off just getting on with it and buying a house instead of waiting for a crash and renting in the meantime.

That is reality. As the majority view their property as a home not an investment.

Whether property prices are significantly overvalued or even sustainable is a separate issue. As the 1,230,000 BTL mortgages that have been taken out since 2000 have a vested interest in the market not falling.

geneer

Thrugelmir wrote: »

That is reality. As the majority view their property as a home not an investment.

Thats not really a justification, is it.
I know that "houses are just for living in" was the favoured bull mantra circa 2008 (and what happened to that I wonder), but its not true that "most" people would have been better of.

Misrepresenting high level averages is meaningless.
And closer inspection of the statistics does show, very clearly, that significant numbers of people in certain property types, in numerous locations, are much worse off than they might otherwise have been.

What was the recent statistic. Wasn't it 60% of buyers since 2006 in negative equity at the moment.
Doesn't surprise me. This crash is already similar in nominal terms to the last crash. And that was widely aknowledged as devestating for many.

Thrugelmir

geneer wrote: »

What was the recent statistic. Wasn't it 60% of buyers since 2006 in negative equity at the moment.

Negative equity is a red herring. Providing you can meet the monthly repayments on your mortgage. Then after 25 years or so. The property is yours and you have no debt.