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Hickey holds fast to housing doom & gloom

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  • Hickey holds fast to housing doom & gloom


    From: http://www.youtube.com/watch?v=p1CTmerRmKo
    Free business resources - www.BusinessBlogsHub.com

  • #2
    and why wouldn't he be

    10% drop is 1 third of the 30% drop that he has been predicting

    and there are certainly no signs that we've reached the bottom yet

    probably the next 10% will happen quicker

    and the last 10%, if we ever get it, will take longer and various interested parties will bring out various figures to debate whether we actually had it or not
    have you defeated them?
    your demons

    Comment


    • #3
      I do not see why this chap should get any kudos for understating the bleeding obvious.

      Comment


      • #4
        Rodney Dickens has a good comment about the doomers:
        And now seems like a timely moment to point out that NZ economic growth could be significantly better this year than implied by the headless-chook analysis being done by some of the doomsayers.
        http://www.sra.co.nz/pdf/LifeAftertheCrisis.pdf

        Comment


        • #5
          Originally posted by Bob Kane View Post
          Rodney Dickens has a good comment about the doomers:
          http://www.sra.co.nz/pdf/LifeAftertheCrisis.pdf
          Rodney's analysis is very upbeat. I'm not sure he is adequately taking into account the negative repercussions on the NZ economy of the decline in economic activity over on the west island (OZ). NZ has done really well thus far as the global economic crisis spreads. We have only 100,000 unemployed. Compare this to Ireland, a country with a similar population & 400,000 unemployed. If Aussie stops taking our unemployed we will be in deep trouble.

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          • #6
            i like the title of the pdf

            "life after the crisis"

            these are the people who said there never would be a crisis and now there is one they are already talking about life after it without ever actually admitting that there is/was one

            you can go a long way on self belief as the japanese found during would war 2

            but at the end of the day it didn't do anything but make the end that much more grisly
            have you defeated them?
            your demons

            Comment


            • #7
              here's a classic from the article

              So if individuals respond to the interest rate cuts and start fuelling house sector activity and demand, for with this demand stimulus filtering through to many other industries, and if banks are able to borrow overseas again to fund increased demand for credit, then why can’t there be an economic recovery this year?

              imagine telling your bank manger during your mortgage interview

              if i can keep my job, and get a pay rise in the next couple of years, i can't see why i couldn't pay this loan back
              have you defeated them?
              your demons

              Comment


              • #8
                Originally posted by Bob Kane View Post
                Rodney Dickens has a good comment about the doomers:


                http://www.sra.co.nz/pdf/LifeAftertheCrisis.pdf
                That's a really weird article from Rodney.
                He has written some excellent articles on the property market. I do not understand how he can possibly think a significant fall in the property market and the inevitable reduction in the construction industry can be anything but a long-term drag on the economy, let alone a world wide depression.

                It saddens me to say that he sounds like all the other experts who get so caught up in their usual economic cycles that they can't see the wood for the trees, and miss the big event entirely.

                Maybe he is going through a little denial.

                Comment


                • #9
                  Originally posted by eri View Post
                  if i can keep my job, and get a pay rise in the next couple of years, i can't see why i couldn't pay this loan back
                  I must remember that one, classic!


                  Jabs

                  Comment


                  • #10
                    Originally posted by Bob Kane
                    Rodney Dickens has a good comment about the doomers:

                    http://www.sra.co.nz/pdf/LifeAftertheCrisis.pdf
                    Like Steve, I'm also surprised by what Rodney has said. There's a huge wave of Alt-A and ARM mortgages coming up for renewal in the next 2 years that could see a larger mortgage crisis than the sub-prime catastrophe.
                    My Profile

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