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We’re in stage 1 of the 5 stages of real estate grief...

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  • We’re in stage 1 of the 5 stages of real estate grief...

    http://stuff.co.nz//blogs/showmethem...-estate-grief/

    This is a good one.

  • #2
    Originally posted by SmallBrain View Post
    It was pretty good. He's one of the more competent journalists when it comes to explaining things in clear terms. He also cuts through all the crap. He can hardly be accused of being "alarmist" or "sensational", but you'll see the nutters start countering it with their net immigration scenarios and "new paradigm" spiels.

    Comment


    • #3
      So what's new?

      http://www.empowereducation.com/gene...&key=Bubble_bk
      OllyN [email protected]
      Independent Property Consultant
      Residential and Commercial Solutions

      Comment


      • #4
        Yes Olly but we don't expect as much from our fickle media.

        Comment


        • #5
          Originally posted by tanmedia View Post
          He can hardly be accused of being "alarmist" or "sensational"

          A selection of "non-alarmist" quotes from the article:

          "New Zealanders have yet to understand the catastrophic event"
          [This confirms my belief that Mr Hickey is a catastrophizer. It is a word used to describe a person who automatically looks for disaster or catastrophe in what would ordinarily only be considered "bad" situations.]

          "2008 will be seen as the ground zero of a market collapse"
          [a thinly vield September 11 reference there - classy!]

          "[if you are] able to sell for a haircut to the peak prices of less than 20-30%, then do it, the earlier the better. The coming price slump will make a little haircut look like the best decision you've ever made."
          [A sensational catastrophizing opinion presented as fact (as he loves to do).]

          "Finance companies offering easy money to property developers have also evaporated in one of those bloody mists you see after a bomb goes off"
          [A completely tasteless terrorism reference.]

          "The negative equity disaster heading our way"
          [No more terrorism metaphors? I guess even he has his limits.]


          And...

          Acknowledging in just 2 lines that prices have yet to fall much at all, he then devotes the next 10+ paragraphs to debunk the official statistics with his own highly negative assertions and the example of one poor fellow named "Steve".

          Would a non-alarmist really do that?

          Would a journalist with an open mind really use all this highly emotive language?

          Talk of catastrophes, references to terrorists attacks, and people being blown to a "bloody mist"???

          That's not finance journalism.

          It is biased and emotive opinion passed off as fact.

          M
          Last edited by Mark_B; 22-07-2008, 11:38 PM.
          Comments may not be relevant to individual circumstances. Before making any investment, financial or taxation decision you should consult a professional adviser.

          Comment


          • #6
            The most worrying thing in Bernards article was this

            section about exposure of NZ Banks:

            The banks had to do this because they had a combined $30.574 billion worth of mortgages where the loan to value ratio was 80% or greater as at March 31. That’s about a quarter of all mortgages. If prices were to fall 30% then about 268,000 loans will be in negative equity, given the average loan size is about $114,000 according to RBNZ figures.
            Think about it. A quarter of a million property investors face negative equity.


            Thank goodness Bernard did not put this article on his main interest.co.nz blog where it would have got massive publicity

            Comment


            • #7
              Originally posted by Mark_B View Post
              A selection of "non-alarmist" quotes from the article:

              "New Zealanders have yet to understand the catastrophic event"
              [This confirms my belief that Mr Hickey is a catastrophizer. It is a word used to describe a person who automatically looks for disaster or catastrophe in what would ordinarily only be considered "bad" situations.]

              "2008 will be seen as the ground zero of a market collapse"
              [a thinly vield September 11 reference there - classy!]

              "[if you are] able to sell for a haircut to the peak prices of less than 20-30%, then do it, the earlier the better. The coming price slump will make a little haircut look like the best decision you've ever made."
              [A sensational catastrophizing opinion presented as fact (as he loves to do).]

              "Finance companies offering easy money to property developers have also evaporated in one of those bloody mists you see after a bomb goes off"
              [A completely tasteless terrorism reference.]

              "The negative equity disaster heading our way"
              [No more terrorism metaphors? I guess even he has his limits.]


              And...

              Acknowledging in just 2 lines that prices have yet to fall much at all, he then devotes the next 10+ paragraphs to debunk the official statistics with his own highly negative assertions and the example of one poor fellow named "Steve".

              Would a non-alarmist really do that?

              Would a journalist with an open mind really use all this highly emotive language?

              Talk of catastrophes, references to terrorists attacks, and people being blown to a "bloody mist"???

              That's not finance journalism.

              It is biased and emotive opinion passed off as fact.

              M
              Point taken Mark, I just get carried way by all the supporting facts and figures (not to mention those easy-to-understand charts). He weaves a convincing argument that is definitely "alarmist" in its delivery. We should also remember that it's a "blog," so he is entitled to be opinionated and expressive. No doubt there'll be a solid army that disagree with his views (hopefully with more rigorous reasoning than those who have posted comments).

              Perhaps I should have said, "he can get away with being alarmist because he presents his argument with solid reasoning and clarity." You have to admit it's a lot convincing than "get in before it's too late."

              Comment


              • #8
                Originally posted by Mark_B View Post
                That's not finance journalism.

                It is biased and emotive opinion passed off as fact.

                M
                Well said, Mark.

                I noticed this comment:
                Housing is vastly unaffordable for most
                The classic "I am speaking for the masses"
                Pompous git.

                Comment


                • #9
                  Originally posted by Mark_B View Post

                  That's not finance journalism.

                  It is biased and emotive opinion passed off as fact.

                  M
                  Well,

                  Journalists may simply collectively suck at relying on independent, cold hard facts and detached mindsets capable of reaching insightful yet neutral conclusions (professional self-selection, anyone?)

                  But even when they completely suck at presenting an utopian unbiased truth (if there ever was an oxymoron there's one), they still make more interesting writers than economists do in their botched haiku cynicism:

                  >
                  What grief?
                  A dud investment perhaps?
                  It would explain alot.
                  M

                  Comment by Mark — 22 July 2008 @ 11:40 am

                  Thank god at least economists don't try to psychoanalyse and misdiagnose projections of "patients" whose more accurately diagnosed medical issue is objective fear induced encopresis exhibited through an annoying attempt to alert the rest of the flock to the perceived danger behind their aromatic symptoms.

                  Comment


                  • #10
                    For any future attempts to psychoanalyse fellow PT members

                    As well as diagnose projections, Freudian (hiya Austro!) or otherwise, here's a point of useful, informative reference:

                    http://www.heretical.com/sexsci/bpsychol.html

                    And remember the following:

                    One of the clearest-cut symptoms of projection is the patient's attempt to diagnose it in another.

                    Comment


                    • #11
                      A journalist who is habitually negative in regards to real estate makes a comment:

                      "I've been working through my real estate grief..."

                      And you're shooting the guy who asks what was meant by that?

                      M
                      Comments may not be relevant to individual circumstances. Before making any investment, financial or taxation decision you should consult a professional adviser.

                      Comment


                      • #12
                        Heh

                        Originally posted by Mark_B View Post
                        A journalist who is habitually negative in regards to real estate makes a comment:

                        "I've been working through my real estate grief..."

                        And you're shooting the guy who asks what was meant by that?

                        M
                        Very well observed!

                        Shared suffering my a*se - he loves this recessionary crap!

                        Again, personal honesty and captivating journalism don't always mix well.

                        Comment


                        • #13
                          Originally posted by 67910241 View Post
                          Well,

                          Journalists may simply collectively suck at relying on independent, cold hard facts and detached mindsets capable of reaching insightful yet neutral conclusions (professional self-selection, anyone?)

                          But even when they completely suck at presenting an utopian unbiased truth (if there ever was an oxymoron there's one), they still make more interesting writers than economists do in their botched haiku cynicism:

                          >
                          What grief?
                          A dud investment perhaps?
                          It would explain alot.
                          M

                          Comment by Mark — 22 July 2008 @ 11:40 am

                          Thank god at least economists don't try to psychoanalyse and misdiagnose projections of "patients" whose more accurately diagnosed medical issue is objective fear induced encopresis exhibited through an annoying attempt to alert the rest of the flock to the perceived danger behind their aromatic symptoms.
                          Wow! I'm a bit lost there. Are you trying to say that our Bernard is a neurotic windbag who shouldn't be taken seriously?

                          Comment


                          • #14
                            Originally posted by Bob Kane View Post

                            I noticed this comment:The classic "I am speaking for the masses"
                            Pompous git.
                            Well Bob, that's a pretty sophisticated rebuttal. Is that all you have to add?

                            Comment


                            • #15
                              finally an explanation

                              Originally posted by 67910241 View Post
                              Very well observed!
                              "Another footnote. I am 41 and own my own home in Auckland with my family. But I also have a substantial and expensive mortgage that dwarfs anything my parents ever had. I was, however, lucky to be one of the last generation of students not to have to take out a big student loan. Two of my brothers and their wives and five children now live in Melbourne." - straight off his blog

                              Whingers like him should be sent to "consumptration camps". Forced to consume the last penny of their after-mortgage income and keep the economy running. Time to whip club and stone some optimism into that boy!
                              Last edited by SuperDad; 23-07-2008, 07:29 AM. Reason: fixed quote formatting

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