This evening, I had my annual fifteen minutes of watching Kristy and her horror show – Location, Location, Location. That is just about all I can take of this dreadful property ramping show.
Still, it was nice to see old Phil trying to bargain down a seller who was in housing crash denial. The show featured a couple who wanted to buy a dreary little house for ₤150,000, but the seller insisted on ₤180,000. However, Phil wasn’t terribly persuasive. He could convince the seller that the market had fundamentally shifted and that the seller might bitterly regret not accepting this offer in 12 months time when the market has tanked another 15 percent.
However, I had to laugh at Kirsty’s “cold hard look at the housing market numbers.” She studiously avoided any mention of the double digit declines. Instead, she looked for the remaining housing hotspots. Hartlepool is leading the charge with a five percent house appreciation over the last year.
Well, Hartlepool is the town where a shipwrecked monkey was once mistaken for French spy and hanged. We shouldn’t be to surprised if the same town now mistakes a housing crash for a bubble.
Phil’s final speech was pure nostalgia; it was all about Britain as a small island, a growing population and housing shortages
Dream on, Phil.
Monday, January 5, 2009
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