Newsnight: House price crash

DervProf

Pimperne1 wrote: »

Well, firstly, he said they would go down by 30% and they went up by 25% - that's what I call wrong. Secondly, people admit they have form nowadays because a very simple internet search will show this as the case otherwise. Thirdly, the Estate Agent was inept.

Further, he has the cheek to imply that the vast majority of economists were in agreement with his view in 2004 (so he wasn't out of kilter then thereby implying that he might not be now). That's now how I remember it.

Fair enough, but his comments in the NN debate did make sense to me. I'm not saying that the scenario he predicts will play out exactly as he says, but it sounded sensible and very plausible.

Rinoa

A small number of borrowers at a small number of lenders have seen their SVR climb to 4%.

Newsnight rig an economist v estate agent battle where an incompetent estate agent is obviously way out of her depth.

An economist (:rotfl:), who's been wrong plenty of times previously, quotes the 1990's crash where repossessions were 300,000 per year and states we can expect the same again.

Lazy BBC journo Kirsty Wark (£500,00 salary?) hasn't the wit to suggest IR's in the 90's were as high as 15%.

Another comedy episode of BBC 2's flagship political programme.

DervProf

breadlinebetty wrote: »

Forgotten your meds again Brit?:rotfl:

You'd have thought that after years and years wishing for a crash and not seeing it happen, you'd get over it. Seems you can't! You must half be thick! Probably why you're renting a pokey little flat and can't get on the property ladder! You sad pathetic little misfit.

I bet you'd LOVE my house - but YOU'LL NEVER be able to afford it. Go and get back in your box!

Delightful.

I assume brit1234 has upset you in some way.

chewmylegoff

DervProf wrote: »

Many football matches this weekend will not have much impact on anything either, so maybe all the banter/arguments/discussions/media coverage are a waste of time.

at the end of a football match there is a result, and the teams competing get points, which affect their position in the league. the more points you get, the more money you get. if you get into the top 4 you get loads of money, and if you are in the bottom 3 you are screwed.

at the end of a newsnight debate about house prices, house prices don't change to reflect what was discussed.

so, you need to think of a better analogy.

chewmylegoff

DervProf wrote: »

I have just watched the Newsnight debate, and he certainly had the "Estate Agent" rattled. His arguments sounded clear and logical, his "opponent" sounded rattled.

but so what? estate agents are sales people whose job it is to sell houses. economists, on the other hand, are in the business of sitting around making theoretical predictions about the economy and talking about them a lot.

i expect if i had a debate with you about what i do for a living, i would probably wipe the floor with you, and vice versa, but i'm not really sure what that would prove. it certainly wouldn't affect the price of fish.

StevieJ

Fella wrote: »

Any sensible homeowner would have been watching the house price boom from 1995 onwards in utter horror.

Unless you intend to trade down & retire then all that's happened is the differential between your current house & the house you intend to move to has increased massively.
.

That is not all that has happened, you also have increased equity and therefore a larger deposit on the next house, presumably opening the way to a lower interest rate.

CRASH_BANG_WALLOP

Rinoa wrote: »

A small number of borrowers at a small number of lenders have seen their SVR climb to 4%.

Newsnight rig an economist v estate agent battle where an incompetent estate agent is obviously way out of her depth.

An economist (:rotfl:), who's been wrong plenty of times previously, quotes the 1990's crash where repossessions were 300,000 per year and states we can expect the same again.

Lazy BBC journo Kirsty Wark (£500,00 salary?) hasn't the wit to suggest IR's in the 90's were as high as 15%.

Another comedy episode of BBC 2's flagship political programme.

looks like someone got upset calm down dude :rotfl:

chewmylegoff

StevieJ wrote: »

That is not all that has happened, you also have increased equity and therefore a larger deposit on the next house, presumably opening the way to a lower interest rate.

and a nice big stamp duty bill to boot.

SecondLegDownIsTheBigOne

That EA was like a fish out of water. Absolutely clueless, "a recent survey in the US said that the housing market was vital to the economy and even equated it to some jobs." :rotfl::rotfl::rotfl:

She exposed herself and her trade to be the thick, clueless chancers that the majority of them are. She demonstrates that she knows f*** all about the economy and to parade her incompetence on newsnight like that is a clear triumph of deluded ego over self-respect. Shame.

StevieJ

chewmylegoff wrote: »

and a nice big stamp duty bill to boot.

Not at the moment, or possibly in the future (you might live in Grimsby ).