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The Market Update

By Andy Shaw | January 23, 2010

Originally Posted 30th September 2007

I was watching Bloomberg the other day when the 3 month property prices were released and they were surprised that despite the financial problems with Northern Rock, the prices had actually gone up.

I mean think about it, the Northern Rock crisis hits the week before, and do they really expected house prices to be affected by it in that timeframe? You don’t even have to have the smallest amount of common sense to understand that you will not see information that reflects the Northern Rock effect for at least three months, more likely six months. And even that’s too soon, we’ll probably only know the actual affect after two to three years.

And for those that don’t understand why that is because you may be new to the site; to understand what is really going on with the market you have to look at it from a real position and put yourself in the position of buying a property. On average I would imagine it takes 12 weeks to complete a purchase, so there is no way we would see any effect in historical figures in less than 13 – 26 weeks. Therefore it makes what they have said ridiculous doesn’t it?!

But if most people were listening to this, they would be yet more confused because another professional body was helping to support the bad information that is everywhere in the property market. The problem is the city doesn’t understand the property market and they continue to demonstrate their lack of understanding of it with virtually every statement they make.

However, if you are able to recognise they don’t understand it then that’s a big advantage to you. As you act boldly in the face of what others think and pick up on the opportunities presented. The more of these so called experts that continue to support their incorrect predictions then the more it will become popular opinion and popular opinion is usually wrong. :-)

So don’t let the propaganda into your mind. These people are muppets when it comes to predicting the market or worse they are just putting their spin on it to sell headlines. To you it doesn’t matter, we are approaching some real deal times of the year. So continue to buy with confidence, remember you are not buying in the property market, you are just buying a property, and do your deal just on that property.

Best Wishes

Andy

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Topics: Free Content, Property, The Economy | Comments Off

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