April 7, 2009

A quick note for the people of England: Not even close


You're (still) unfortunately not even close. No matter what the housing porn shows or housing porn newspaper inserts say.

Just do the math.

Homes in my neighborhood are listed for 300 to 400 times rent.

Do you not realize how wrong that is?

It's the P/E stupid, no matter what country you're in.

And housing ladders don't just go up.

(And for the love of god, please turn off the housing porn. It's bad for you, like fish and chips)

Just trying to help...


12 comments:

Anonymous said...

For those who think we are at the bottom.....

http://www.reuters.com/article/gc03/idUSTRE5363EV20090407

Not even close.

Anonymous said...

OT: Man detained in St. Louis for carrying cash. US becoming a police state. Watch the video and be pissed off of where this country is heading...

http://www.youtube.com/watch?v=XMB6L487LHM

Noodles said...

Keith, check out this article about Dubai. It's an amzinging tale of greed, corruption, and disaster. What a bullshit dump. http://tiny.cc/0m2s0

Mitesh Damania said...

*Must see* new John Perkins video on G20 and Iceland:
http://tinyurl.com/jpiceland

Anonymous said...

we're two years into this mess, how come we're still arguing over what losses "might be"?

......there will be no recovery...so long as it is common knowledge within the markets that the truth is being concealed."

Anonymous said...

The housing oracle graph plot for the next several years looks very optimistic. The graph looks like it is just bursting to repeat the years 2003 through 2004, only in reverse, going down to below 120 with no end in sight.

Anonymous said...

Nothing new here...back to American Idol.

happy snapper said...

Keefer,

Its for posts like this that i visit this blog.

Good Ole common sense.

Anonymous said...

Ooooobaaamy!

Gimme Cheese.

Tico-Tamarindo said...

Now the US media is just full of articles claiming an "official" END to the crisis... A guarantee that their will be another bad leg to this.

Have fun!

Anonymous said...

Deficits don't matter.

Anonymous said...

Why is it a depression if the housing prices have simply returned to where they should be? If popping a bubble leads to a depression we have a very broken financial system.

Ohhh.. Right. We do have a broken financial system.