ACT BLOG: Doom or imagination

We are entering a recession, a time of slump, negative equity and all round general doom. We have decided that house prices are going down and they are. We are walking happily into the breech of economic collapse. But why? I do not understand what has changed from our time of economic boom. Granted, Oil prices have gone up, despite us invading every country with a whiff of the black gold, but apart from that everything is the same as it was. If we look to the property market we find yet more evidence that house value is in the mind. Properties are priced far more than their intrinsic value. We say location, location, somewhere near a station and the value shoots right up. Things are worth what people will pay for them, or what the television and newspapers tell them to pay for them. So when everyone is saying prices are going up, they go up and when they change their minds they go down. We act as collective conscious on this with the media acting as some kind of hive mind. If there was more than just perception behind the rise and fall of property prices then estate agents would not care about people’s notions of the market direction. Look at any quote by an estate agent in any paper and it amounts to the same; “move along, don’t panic, nothing to see here.” So what I am saying is: if people don’t want a crash, don’t have one. If all the papers say it is rosy and no-one talks about doom and bubbles, it will all go away. Keep shopping, keep borrowing and it will all blow over by Monday.

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Bite my shiny metal ass, assholes, [url=http://justnkldkhsjvd.com/]you were joked![/url] - 5 Jan '09  Flag as inappropriate




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