Why anyone would actively look forward to a house price crash, wish jobs in estate agency to go, or that businesses would close down, is beyond us.
However, here – and in all places, the Telegraph – is how one writer, Alex Proud, explains “Ten reasons why I’m looking forward to the next price crash”.
Specific reasons, apparently, include that branches of Foxtons will close down.
Proud says: “I’m not even going to try and be clever here. Can you imagine the feel-good factor as branch after branch of Britain’s ghastliest business shuts up shop?
“Can you imagine the cheering in the streets as the nasty green and yellow livery comes down and the premises are turned back into pubs, restaurants and shops?
“Can you imagine the pleasure of knowing that never again will one of those stupid little minis cut you up at a junction?
“Dare to dream.”
We are sure you will have your views.
Separately, the Financial Times has reported that top hedge funds have placed multi-million pound bets that the London luxury housing market will tank. Odey Asset Management, BlueMountain Capital Management, and Anchorage Capital, have reportedly all shorted the stock of Berkeley Group, the London-focused house builder.
Proud says: “I’m not even going to try and be clever here’……
I don’t think he could be even if he did try.
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What an odious man. A cheep dig from a lazy journalist who can’t be bothered to be a little more inventive.
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House price crashes get rid of cheap and nasty (clueless) estate agents, not Established ones
It won’t be the high street agents that suffer in a crash but the online only brigade who’s only hope of getting any traction is a buoyant market. When things get tough you need an experienced professional to advise, not someone who’s already taken your money and run
i suspect this weasel of a journo has been told to say all this because of his bosses interest in an online only agent. It’s laughable
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I don’t like what he has written but there is a central point that you just can’t escape – property prices (sales and rentals) are too high compared to income.
It’s worth reading this if you can survive the boredom: https://en.wikipedia.org/wiki/Income_in_the_United_Kingdom
The provisional results from the April 2014 ASHE report gives median gross annual earnings of £22,044 for all employees and £27,195 for full time employees.
The median house price to median earnings ratio has gone from 3.54 in 1997 to 6.7 in 2013.
https://data.gov.uk/dataset/ratio-of-median-house-price-to-median-earnings/resource/3a73de15-73df-487c-9144-111f09f5912f
And it is getting worse every day.
When interest rates do finally rise we will all be in trouble.
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The Daily Telegraph and Courier, and since 2004 has been owned by David and Frederick Barclay. It had a daily circulation of 523,048 in March 2014, down from 552,065 in early 2013.
Are there any other Barclay brothers? I seem to recall there were some involved with on line estate agent?
I could be wrong of course
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What a stupid man sorry boy.
Does he honestly think these premises will be turned into bars and restaurants? they could have before Foxtons took them over. Given most of Foxtons branches are in central London i think there are enough bars and restaurants.
Wishing people would lose their jobs, very compassionate.
Why does he have an issue with estate agents? lazy stereotype and lazy journalism.
How about we cannot wait until the Telegraph goes out of circulation as its a dated form of advertising as its all going online apparently! – I hope he loses his job in the cut backs but do not wish it upon his entire industry.
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‘Britain’s ghastliest business’ – rich, coming from the Telegraph!
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His Girlfriend left him for a negotiator at Foxtons
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It’s deeper than that; much, much deeper.
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Interesting, Robert – that young Mr Jury and I had an interrupted ‘chat’ about the media and his thoughts that most journos would only print what they thought/believed rather than what they were told to write. Mr Jury never responded when I asked him whether he could conceive that, perhaps, that being the case, certain journos are selected to write certain articles for certain publications on the basis of what THEY think/believe – which happens to coincide with the message the publication want people to read.
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As agents we get a 6th sense about which applicants and vendors are best looked after by someone else. This is the sort of chap who would have me offer to make the tea as he came into the office.
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