I gave an 8 minute interview on BBC Radio Solent on 25 July 2006. It went very well. Good debate about why renting is better than buying.

Listen to the interview:

Nice work BP.

I think it's also a good idea to point people to 'what the papers said'. It's an eye opener on how it's very similar to now.

Interviewer is a bit of a baffoon.

Your English is better than his!

Great job. Interesting that the buffoon offering up the questions came out with the old line 'but renting is dead money'. Always get this response when I say I'm renting. I then ask them to compare the cost of an I/O mortgage to the rent on a house. If the rent is cheaper (as it is significantly - 30% for me) than an I/o mortgage on the house then people are quids in by renting. Also they don't have to pay for maintenance / stamp duty / estate agents fees (on selling) etc...

Issue is that most people don't remember the last housing correction (or choose not to.. simply blaming it on John Major being incompetent - well they have a point generally about tories there) ... or seeing it as a one-off event that would never be repeated.

They simply close their ears to thoughts of house price deflation. I'd love to see what would happen if some of the US headlines seen recently started appearing here... would people act or pretend not to hear it.

TF, STR :-)

Excessive confidence before the FALL --

Causes people to take excessive risks, without understanding the risks they are taking.
After the fall peopel will say:

"No one expected prices to fall..."
"Everyone said they were going higher..."
"The government has mismanaged the economy..."

And all sorts of excuses, and denials of the personal resposnibility one has taken taken.

The interviewer has stopped thinking and analysing, and is operating on blind faith.

Well done Reinhardt, very eloquently argued.

Was that Paul Miller? I've never heard him get so genuinely impassioned like that before.

Good interview.