House prices to remain stable in 2012

Graham_Devon

geneer wrote: »

:rotfl:You know you've made a boo boo. You've confused nationwide with chief executive graham beale.

Better get ready to hear some more about a random sentence generator.

He won't like that!

julieq

I'm going to regret this, but the link Geneer produced wasn't to an "official estimate" by Nationwide, it was an indirect link to a BBC article where a Nationwide economist suggested prices would be the same at the end of the year as at the beginning of the year.

So lets look at the actual source material for December 2010 from the repository of press releases:

“On balance, a relatively stable picture, with the possibility of a small price decline, appears the most likely outcome for 2011 at this stage."

From December 2008:

“While house price falls are helping to improve affordability and the steep drop in interest rates will provide some
further support, all of the typical affordability measures are still above their long-run averages. This suggests that

prices have further to fall before significant numbers of buyers will be willing to return to the market."

Seems like "official predictions" of a decline to me. So what was the point exactly Geneer?

I suspect this is the bear meme that the indexes are produced by VIs and therefore talk the market up. Which doesn't seem to be the case from the press releases, does it?

I doubt wotshat will get an apology from Graham "never let the data get in the way of a good muddle" Devon either. But he should.

robmatic

geneer wrote: »

Yet I've produced links that show Nationwides official predictions for 2009, 2010.

:rotfl:You know you've made a boo boo. You've confused nationwide with chief executive graham beale.


As to my point, yet again, I'll refer you to an earlier post.

Why are Nationwide's official predictions being hosted on monevator.com and thisismoney.co.uk? You'd think they'd be able to afford their own website...

Sounds like another tedious bear meme to me.

Graham_Devon

How about this. Exactly what Geener was saying?

Nationwide, Britain's biggest building society, today said house prices crashed by 15.9% in 2008 and refused to predict where they will end up at the end of this year.

http://www.thisismoney.co.uk/money/mortgageshome/article-1653525/Nationwide-house-prices-plunge-159-in-2008.html

And this for 2010:

UK house prices were 1.1% higher in December than a year earlier - the first annual rise since March 2008, according to the Halifax.
Prices rose by 1% in December compared with the previous month, marking the sixth consecutive monthly rise.
The Halifax, now part of Lloyds Banking Group, said the average home was now worth £169,042.
However, the group predicts that property values will be flat in 2010 owing to the economic outlook.

I have no need to apologise.

Geener was correct in what he was saying.

You've picked out 2008 and 2011 Julie. You silly girl. And then claimed others are muddling things. As usual.

It was 2009 and 2010 that was being talked about. Would you like any more help?

julieq

Again Graham, you're quoting indirect data. Geneer's "point" was that he contended NW don't predict falls. To support that he used indirect data, then cried foul because someone else used indirect data. I've pointed directly to predictions made by the NW which contradict his contention.

And what do you give me? Moneypanic quotes. Indirect quotes, not official predictions. He just told someone off for doing that!

Geneer has been shown to be wrong ON HIS OWN TERMS and you're still saying he's right. Mr Muddle to the power of 10. And you're now trying to dodge by saying that only specific years count. That's just laughable.

wotsthat

geneer wrote: »

As to my point, yet again, I'll refer you to an earlier post.

You haven't made a point - it wouldn't half make life easier if you did. I'm guessing that it's Nationwide have never predicted price falls. Well I refer you to what the chief exec was reported as saying in November 2008...

Nationwide Building Society's chief executive Graham Beale said house prices would continue to fall by 1% to 1.5% a month for the rest of the year and there would be further price drops in 2009-10.

I think that's a Geneer meme obliterated. Kaboooom!

System

4 pages of frantic backtracking and obtuseness to look forward to today, yay.

Seems you can't walk round a corner without a bear meme kabooming in your face nowadays.

angrypirate

In other news, Turkeys advertise that Goose is the meat to have this xmas.

wotsthat

Graham_Devon wrote: »

Better get ready to hear some more about a random sentence generator.

If Geneer got rid of his random sentence generator and you turned down the settings on your Google gloom filter from indignantly idiotic to mildly miserable you'd both be in a better place.

Geneer's trying to support an assertion that Nationwide never predict falls in prices because they are part of a conspiracy to ramp the housing market. If that's the case the chief executive was way off message in November 2008 when he was talking about falls for the remainder of 2008 and into 2009 & 2010. (Normal procedure at this point is to spend a few posts stating what you didn't state - or in this case what your friend did or didn't say).

If, however, the point is that Nationwide haven't officially predicted falls then I'd be happy to concede the point when official evidence is produced. In this case, after awarding you an internet point, I'd still be asking what the significance was. Geneer's squirming as he only wants to hint that Nationwide are part of a conspiracy because he know's to say so outright would be laughable.

nollag2006

julieq wrote: »

...Graham "never let the data get in the way of a good muddle" Devon...

Love it! So true!