Otros foros, otros países, misma burbuja

Bueno, este mensaje de un foro británico hace una comparación interesante entre el crack del 29 y la burbuja inmobiliaria. Parece que no estamos solos en esto, aunque la nuestra es mejor, por supuesto. (interesante leer entre líneas que los británicos eran de los que más compraban en españa y están igual de jodidos que nosotros...)
Si alguien tiene mucho interés lo traduzco.
saludos.

http://boards.fool.co.uk/MESSAGE.ASP?MID=8663433

Many people have been comparing the housing market bubble to previous market bubbles such as pre-the 1929 Wall Street Crash, the 1997-2000 “tech stocks” bubble, the south sea bubble and the tulip bubble. Of course this is absurd. There are clear differences between the two, which I shall now demonstrate in a comparison between the 1929 bubble and the present housing market:

Past Bubble: Prices of stocks soared to record levels with no sign of coming down again
Present Housing market: Prices of houses soared to record levels with no sign of coming down again

Past Bubble: Everyone and his aunt got involved in the market, even the shoe shine boys were buying stocks
Present housing market: Everyone and his aunt got involved in the market, even the shoe shine boys were buying to let

Past Bubble: The market became a national obsession, with whole sections of newspapers filled with watching its every move and bestselling books written on how to get rich quick from the market
Present housing market: The market became a national obsession, with whole sections of newspapers filled with watching its every move and TV programmes made such as “property ladder”, “location location location” and “the million pound property experiment”

Past Bubble: In the early stages of the boom it was emphasised that stock values were based on fundamental underpinnings such as real companies, and at the end of the day people would always buy the products of these companies
Present housing market: In the early stages of the boom it was emphasised that house values were based on fundamental underpinnings such as real estate values, and at the end of the day people would always need somewhere to live.

Past Bubble: It became common to buy stocks on margin without having to pay the normal price
Present housing market: It became common to buy houses on 100%+ mortgages or using self certification loans without having to fill in the normal forms

Past Bubble: Then when margin wasn't enough derivatives were traded to allow investors to gear up even more.
Present housing market: Then when mortgages weren't enough off-plan deposits were traded to allow investors to cash in even quicker.

Past Bubble: In the middle stage of the boom stock prices were justified by a new paradigm
Present housing market: In the middle stage of the boom house prices were justified by a new paradigm

Past Bubble: Investment trusts were created to help people cash in on the boom without buying actual shares.
Present housing market: REITS, and SIPPS were mooted to help people cash in on the boom without buying actual shares.

Past Bubble: It was claimed there was a shortage of suitable stocks which justified both the bubble and the bringing to the market of dozens of useless new ones.
Present housing market: It was claimed there was a shortage of desirable houses which justified both the bubble and the building of tens of thousands of identikit new build Georgian style houses in Ashford.

Past Bubble: In the later stages of the boom it became more important that stocks went up, than whether they paid dividends or that they had any fundamental value whatsoever.
Present housing market: In the later stages of the boom it became more important that house prices went up, than whether the tenants paid any rent; or that they had any fundamental value whatsoever.

Past Bubble: Companies without any redeeming features, or even a business plan, came to the market and were given wildly optimistic valuations.
Present housing market: New build flats without an

Me ha gustado mucho el estilo britanico. De hecho me ha recordado esas parrafadas que se marcaba Manel Fuentes en ese programa de entrevistas preparadas(cantaba la releche, vaya entrevistador). Esas listas de argumentos, que al modo creo recordar que de David Letterman se marcaba haciendose el graciosillo...

De todas me ha hecho especial gracia esta..

Past Bubble: In the early stages of the boom it was emphasised that stock values were based on fundamental underpinnings such as real companies, and at the end of the day people would always buy the products of these companies
Present housing market: In the early stages of the boom it was emphasised that house values were based on fundamental underpinnings such as real estate values, and at the end of the day people would always need somewhere to live.

Donde el guiri insinua una semejanza yo no veo mas que disparidad. Pretender comparar los fundamentales de una sociedad cotizada con el valor de uso de una vivienda es de morirse. El que es propietario de una vivienda tiene derecho a vivir en ella, echar un polvo en ella, llenarla de cosas o ir y echarse un pis. El propietario(minoritario) de unas acciones no tiene derecho a nada, mas que a venderlas si otro se las compra y acobrar el dividendo que tenga a bien darle el consejo de administracion....

Pero me ha gustado, es un soplo de aire fresco. Son los mismos argumentos pero en ingles...

Disculpa, cuando se tienen varias viviendas, qué guay es eso de ir a echar un pis cada día a una. Eso es riqueza, sobre todo si la tienes hipotecada. Pero es más, y si formas parte de un fondo de inversión inmobiliario? a qué tienes derecho?
saludos

Pues mira, te puedo comentar lo de mis padres. Los fines de semana se echan un pis frente a la playa, y en verano tambien. El resto del año se lo echan en la ciudad.

Respecto a los fondos de inversion inmobiliario los patrimonios que gestionan en españa son microscopicos en comparacion con la inversion global en inmuebles, y lo sabes...Pero bueno, en su caso preguntale a quien invierta en eso...

saludos..