Blog on current housing situation

brit1234

Mark Riddick Blog
Monday 9th December 2013

* Mark Riddick is an entrepreneur and investor with 30 years of experience in the property transaction market. He is the founder and ex CEO of SearchFlow and is currently chair of Search Acumen

http://www.estateagenttoday.co.uk/news_features/Mark-Riddick-Blog

Interesting article on the current housing stimulus from the Estate Agents view.

TruckerT

brit1234 wrote: »

http://www.estateagenttoday.co.uk/news_features/Mark-Riddick-Blog

Interesting article on the current housing stimulus from the Estate Agents view.

How true.

TruckerT

TruckerT

I have posted on here many times that the only people who were unable to see the impossibility of the near-fatal house price bubble which burst in 2007/8 were the 'professionals'.

Joe Public was shouting out loud that it was time to stop, but nobody heard. Social Science is sometimes said to be a posh way of stating the bleeding obvious - politics and economics can sometimes be used to ignore the bleeding obvious.

Is this blogger really an estate agent? He sounds too intelligent.

TruckerT

brit1234

I think 2007-2008 taught many so called property professionals a lesson. Still many rampers appear to learned nothing (mostly politicians) where at least now some property bodies are speaking out.

PasturesNew

I used to like that estate agent's blog a few years ago... the one he tried to turn into a book.

http://agentsdiary.blogspot.co.uk/

CLAPTON

The bubble burst with a 20% fall although it varied through out the country

not much of a bubble really

http://www.uk-houseprices.co.uk/blog/wp-content/uploads/2011/12/uk-houseprices-average.jpg

Satoshi

brit1234 wrote: »

http://www.estateagenttoday.co.uk/news_features/Mark-Riddick-Blog

Interesting article on the current housing stimulus from the Estate Agents view.

Yes we are doomed to boom and bust cycles, but the question is when will this boom turn to a bust?

TruckerT

CLAPTON wrote: »

The bubble burst with a 20% fall although it varied through out the country

not much of a bubble really

Please stop being silly - falling property prices were a fairly minor result of the failure of the banking system.

And please don't repeat your opinion that the UK banking collapse was not the result of UK mortgage lending. It's irrelevant, and has almost no support.

TruckerT

chucknorris

brit1234 wrote: »

I think 2007-2008 taught many so called property professionals a lesson. Still many rampers appear to learned nothing (mostly politicians) where at least now some property bodies are speaking out.

Brit will you ever learn? Real property professionals (and others) know that the market is cyclical and that 2007-8 was just the inevitable downturn, the one before that was in 1988-2003 (ish), and the next one will be about 2028 ('very ish').

brit1234

chucknorris wrote: »

Brit will you ever learn?

I learnt that irresponsible lending and too low interest rates fuel property bubbles and collapses before 2007. Now I see even lower rates and a return to irresponsible back again re-inflating the bubble again.

Unlike the previous cycles everything done was done to stop this bubble correcting unlike before. I believe the 20 year cycle is irrelevant on this basis and we will have a downturn a lot sooner. Do you agree chuck?

HAMISH_MCTAVISH

TruckerT wrote: »

opinion that the UK banking collapse was not the result of UK mortgage lending. It's irrelevant, and has almost no support.

It's wholly relevant.

And it's supported by the BOE paper which established it, authored by a member of the BOE's MPC and a world renowned economist to boot.

UK mortgage lending had the square root of naff all to do with UK bank failures.

Just 1/16th of UK bank mortgage losses were on UK mortgages, most losses were on overseas mortgages and not UK ones. In fact, had it not been for their overseas misadventures, the big UK banks would not have needed a bailout at all.