This morning Bloomberg reports that the U.K. Housing Market is Worst Since 1992 in December (Update3) :
"U.K. real-estate professionals said December was the worst month for the housing market since the aftermath of Britain's last recession in 1992.
The number of real-estate agents and surveyors saying prices fell exceeded those reporting gains by 49.1 percentage points, the Royal Institution of Chartered Surveyors said today in London. That compares with 40.6 points the previous month. In the capital, confidence in prices fell to the lowest since 2003.
An end to the U.K.'s decade-long housing boom may threaten economic growth as falling home values discourage consumers from spending."
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Books
Press Release Praise for Juggling Dynamite “An explosive critique about the investment industry: provocative and well worth reading.”  –Financial Post“Juggling Dynamite, #1 pick for best new books about money and markets.” –MoneySense“Park manages to not only explain finances well for the average person, she also manages to entertain and educate, while cutting through the clutter of information she knows every investor faces.” –Toronto Sun
 Click for recommendations. |
Wednesday, January 16
To reiterate: its not just the American housing market that is in trouble
by
daniellepark
on Wed 16 Jan 2008 10:36 AM EST
Great post on The Big Picture today: How Rational are Markets?
by
daniellepark
on Wed 16 Jan 2008 09:06 AM EST
I am always delighted when other financial experts speak truth plainly and without a sales based agenda. Barry Ritholtz of Ritholtz Research and Analytics, NY, NY does this often and today he speaks volumes on the present market climate.
"Rational or Irrational? Efficient or Inefficient? Those are questions that academics wrestle with, and individual investors need to come to terms with. A classic example is what market action gets credited or blamed on. Yesterday's sell off was blamed on weak retail sales and Citibank's big loss and write down. (I have a quote in today's NYT article, Citigroup Loss Raises Anxiety Over Economy) However, these events were well known by those people who were looking in the right places (like readers of this blog). So how were these events such a surprise as to cause a major dislocation? It comes back to crowds getting the big picture wrong, and individuals identifying those instances. I call this Variant Perception and contrarian investing. Ironically, seeing the variant is relatively easy -- the harder part is in the timing. That's what technicals and market internals are for. Wait -- Are you claiming that you are smarter than the markets? No. What I am very specifically saying is that there are opportunities to be uncovered if you can identify where the crowd is wrong. It happens all the time." Read more... more » |
Key Interview
Danielle speaks with Jonathan Chevreau on the Financial Post's blog Wealthy Boomer.
Part 1 Part 2 Recent Multimedia
Audio and Video Interviews“Dear Ms. Park, I watched your appearance on BNN today, and I just have to leave you a message saying 'Thank you' for giving viewers your very frank opinions about how things are going and certain industry practices. I appreciated you trying to give as much information as you could during that (too) short segment. Thank you for what you are doing for all investors!” —blog reader, April 30, 2008
“Each time I see Danielle Park on BNN, I am impressed with her comments and insights. Other than Rick Santelli on CNBC, she is the only commentator that I feel is completely honest and trustworthy.” —M. Scher, Toronto
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