Debate on what FTBers, BTLers etc should do. I say 'Buy', you can't lose with property...

Download FiveLive item (17 min 42 sec, 32kbps MP3, 4.05MB)

Don't give him an inch, FP... good luck!

I will be listening, see if you can get your "BTL investors are TOAST" line in.

5Live http://www.bbc.co.uk/radio/aod/fivelive.shtml

Well done and thanks FP. That presenter was actually cross at the end of your bit wasn't he?

Good work brother.

The debate has n't started yet.

Ah yes - I've come over all previous on meself - was under impression this was to do with today's Money Programme. But hey - thanks for pointing out my error.

What a 'prat'

lol what a welcome!

Why did the first caller get on the radio ?

Well done Jonathan!

That VI came across as very aggressive and anxious! You remained calm throughout the interview and more credible!

What a splendid performance FP.

"That put me in my place"

Good work by FP.

But quite a poor debate. 5Live didn't let it get too detailed.

Well done FP absolutley first class - you won by a knockout. You sounded calm assured, informed and rational - your 'opponent' sounded anxious , ill informed , indecisive and panicked. His only pathetic defence was that a house is a home more than an investment. You even had him change his advice by 180 degrees during the course of that short interview . He started advising people that it was sensible to go out and buy now and finished by agreeing that now was not a good time to press ahead with a purchase.

You were brilliant, but and taking nothing away from you , you have logic on your side - he had none, only emotion. Thats part of the reason he was absolutely trounced. He sounded angry too which was great because you just sounded calm and confident in your facts and logic.

Thanks you've cheered me up no end - I was feeling angry having read David Smiths ramping for rate cuts in the Times. Have a good sunday - job done - magnificently.

Short but sweet, FP. Given the circs. i.e. interruptions and bits of Beeb corporate inserts, and the callers seeming to be restricted to madmen from Yorkshire, I thought that went off very well.
Did that Peter really blame "five interest rate rises in a row", or was I nodding off ?
Loved it when you were forced to justify your presence, by a punter IIRC. "well that's put me in my place!"
I think Rachel likes you. "Interbank rate" indeed.

All in all, your Dr. Finlay, to Peter's Capt. Mainwaring left me in no doubt where the strength of the arguments lay.
"Declining asset ... bargepole ... " Help ma boab, you even managed to worry me with the implications!

Well done FP, you kicked ass.

The other bloke sounded ridiculous, he was totally in favour of buying houses even when it sounded like a bad thing to do, probably because it would his type who would be making big commision from the deal. i.e. trade up from a 3 bed to a 4 bed for an extra 100k, ffs thats 100k for an extra bedroom and he was all for it.

An extra bedroom for 100K , I've heard that figure before - just shows how ludicrous our house prices are. To build an extra room should cost in the region of 20k tops.

FP - cant wait for your next appearance - you are a HPC hero. Just out of interest have any VIs approached you to try and buy your silence ? Do you have a price ?

Is there any way I can listen to a repeat?

This should work Here Approx 1 hour 7 mins in.

I detected sarcasm when he said that,

But good performance overall, he sounded like the proverbial raging bull being taunted by the red flag played by FP.

Best bit was the thicko who phoned in lambasting FP in regard to him mistakenly believing FP said prices had gone up 200% in two years. Obviously because he bought two years ago he is now sh1tting himself at the thought of a price correction.

And have you noticed how the [no doubt recently bought] are hanging onto the supply and demand myth, I dare say because that was the "bait" that hooked them in the first place.

Like I have all but said before, your economic education grows with every passing economic cycle you witness.

Mmm, that's what made it so amusing, made him sound even more of a graceless, clueless dick.

And Rachel does like you, she gave you the chance to polish your diploma in public, not a punter. You sounded just right, slightly-apologetic-but-if-you-must-ask sort of thing.
Apologies to Yorkshire, "Steve from So'ton" is some sort of Lancs woollyback. Sounded drunk to me.
(ta for link, Eager)

"Demand and supply"! PMSL

10/10 for that match, boss. A blinder.

FP,really good assured performance.you explain issues such as rising mortgage costs (regardless of IR moves) in laymans terms.The oppo was out of his depth really but then trying to defend the indefensible must hard on the VI's.Feel really sorry for them.....not!!!

a 250K flat will only fall to 175K. Thats being a bit generous FP we want more

great show FP. The VI bloke was all over the place at the end.

He actually recommends you buy a 2-bedroom flat in a worse area like chavsville rather than renting in a nice area for the same or less money with no risk.


Good performance FP - any chance you could mention the 18 year property cycle (14 years up, 4 years down) in a future interview - how this pattern has always repeated itself and why the same thing will happen in 18 years time unless we tax land to end land/property speculation.

At one point the guy played the emotional blackmail card, something along the lines of "a house is more than an investment it is a home". After the facts and figures argument, I thought this line came as a bit of a curved ball and I am not sure how this would be best countered without alienating some sections of the public.

Maybe something along the lines of it being "one of life's decisions" or "one of those heart versus the head moments" followed by a re-iteration of the facts/predictions.

I liked the bit about property being in "short supply" which the VIs have been banging on about for months (almost entirely unchallenged) and countered with words to the effect of “800k plus properties currently on the market for sale”.

The situation is that there is only a supply shortage of "affordable property" which, hopefully, the coming market correction will help resolve.

Regards

Sox

good sense spoken there, fp

btl market is dead - so true:

people who want to throw away a 30-40% deposit, can do so, then a property will
"wash its face", as the capital value falls back to a more rational level.

why would anyone want to throw away that large a deposit?
some fools were happy to do so, because they thought property prices would rise.
now that dream is fading. and those who played that game are realising they were
"the greater fools" to play so late in the game (as the cycle turned over)

You're not F Harrison esq by any chance, are you?...

Have you read the book though?