I saw an unintentionally hilarious interview with Channel 4's 'property expert' Kirsty Allsopp in the London Lite newspaper about a month ago. Sadly I was not able to find it online. In it she answered various questions about the credit crunch and gave some stunningly stupid answers. Asked about whether buy-to-let was still a good investment opportunity, she ended her reply by saying 'It was never about making a quick buck anyway'. Huh? What planet has she been living on? That's exactly what most people thought they were getting themselves into, especially in the last four or five years of the boom. Asked about the prospects of a given area, she said something along the lines of 'I'm not a believer in buying in specific areas. I'm more interested in buying specific properties'. That's all well and good, but her show is called 'Location, Location, Location'!
However this is as nothing to her masterpiece at the Channel 4 website, where she's surpassed herself with this incredible analysis of the current fortunes of the property market. The money quote:
"Your house isn't worth less than it was, but people aren't buying."
Words truly fail me.
She really seems to think that the slowdown in the market is due to Stamp Duty. She's utterly delusional. It's incredible that to be able to sell someone a few grand in shares you have to pass exams and be qualified, but you can advise strangers on the biggest investment decision they will ever make and be a total ignoramus about Economics. Allsopp reminds me of the person who claims to have had ten years experience, but has actually had one experience that's lasted ten years.