Lets all talk ourselves into a recession shall we???!?

moneysavinmonkey

glen8 wrote: »

Can someone please explain to me the housing crash

Looking on rightmove, properties in my area have the same price they had six months ago

-2.5% in March

I can't see it on rightmove

the clue is that these properties are stuck on rightmove for 6 months!!!

chappers

No crisis I believe as a whole you are probably right but try telling that to people who last year saw that they were getting into trouble, did the sensible thing and put their houses up for sale and are now sitting there watching themselves slipp into negative equity , still without a buyer.

As for the press talking us into a recession, get real maybe adding fuel to the falling property market and talking that down but talking us into recession do me a favour.
the housing market is largely built on sentiment but the economy by far and away to a much lesser extent particulary long term.
Rupert Murdoch prints stories to sell papers not to try to manipulate the economy to his own ends, I bet he wishes he could. Newspapers like dramatic events to report about, a staedy climb in house prices and easy access to cash is hardly that but a sudden contraction in the credit market and banmks going under is.They report after the fact not make the policies that effect the outcomes.

propertyguy7

chappers wrote: »

No crisis I believe as a whole you are probably right but try telling that to people who last year saw that they were getting into trouble, did the sensible thing and put their houses up for sale and are now sitting there watching themselves slipp into negative equity , still without a buyer.

As for the press talking us into a recession, get real maybe adding fuel to the falling property market and talking that down but talking us into recession do me a favour.
the housing market is largely built on sentiment but the economy by far and away to a much lesser extent particulary long term.
Rupert Murdoch prints stories to sell papers not to try to manipulate the economy to his own ends, I bet he wishes he could. Newspapers like dramatic events to report about, a staedy climb in house prices and easy access to cash is hardly that but a sudden contraction in the credit market and banmks going under is.They report after the fact not make the policies that effect the outcomes.

I agree they can't directly manipulate the system and that they make reports after the event and I also agree that the housing market is run on sentiment. You would hopefully agree with me that supply and demand is a major factor in the housing market and the general public can be manipluated by the press. With this in mind it does make the press a powerful, but yet subtle, talisman!

Pez2

It's good to see that people are getting their scapegoats lined up in advance...

ameliarate

"As for the press talking us into a recession, get real maybe adding fuel to the falling property market and talking that down but talking us into recession do me a favour"

I think you are very naive. They over-dramatise things that are going on and scare the gullible public - Northern Rock being an example - had the media not gone overboard about it the people would not have queued up to take their money out as fast as they could - as they were covered up to (?)£30K probably most of them didn't need to anyway - and the situation would almost certainly never have become as bad as it did.

AMILLIONDOLLARS

I work in research and a phrase that's alway used is, "is it statistically significant? " it in most cases the answer is NO! That why I always take any statistics quoted with a liberal pinch of salt as you can always make the figures say what you want them to, it all depends how far up or down a graph you want to stop!!

AMD

neas

So... you are fine with them talking up the market.. along with the EA and banks?

Vested interests have caused this... Commisiion from EA has helped talk up the market so much you've bought into this mindset surrounding "Good Area", "my house is perfect and worth 10x more", "This area is immune", "Prices only ever go up", "Its someone elses fault not mine... I'll sue em".

Tell me... what vested interest do you have? 10 BTL properties let to students? Interest only mortgaged to the hilt?

glen8

moneysavinmonkey wrote: »

the clue is that these properties are stuck on rightmove for 6 months!!!

Spot on, that was my point

Nobody HAS to sell at -2.5% and nobody HAS to pay either

martinman3

ameliarate wrote: »

Northern Rock being an example - had the media not gone overboard about it the people would not have queued up to take their money out as fast as they could - as they were covered up to (?)£30K probably most of them didn't need to anyway - and the situation would almost certainly never have become as bad as it did.

People began queuing when they found out from the media that the compensation would not cover all their savings and the FSA/Treasury/BOE did nothing until there had been several days of queuing. A considerable number of their customers in the Silver Saver's account had over £30k and many had over 1 million pounds. If things had turned out differently they would have lost all but £31,700, they did what anybody with any sense would have done.

If there is one good thing to come out of the NR troubles it is that almost everyone should now know what the maximum compensation from FSCS is.

Laughing_Man_2

Obviously you have a strongly held opinion that you're very sure of, therefore I can't expect you to listen to mine- so I won't offer it.

However, all you have really done here is ask everyone to ignore the recent bad news that you clearly find unsettling and to focus on the postive reporting that has predominated in recent years. You would make a much more convincing case if you actually addressed the issues at hand- for example: if you analysed the credit crunch and bond market crises, residential housing markets experiencing problems in other similar economies around the world etc. and provded a lucid explanation as to why we have nothing to fear from these here in the u.k., then went on to show how these are being innacurately reported to us, well, you would have a case for idle scaremongering in media.

What you have provided here is a longwinded, unsubstantiated, frankly non-sensical account of your own opinion that proves only your lack of familairity with fact.