Persimmon Plc (PSN)
December 19th, 2007An Englishman’s home is his castle, so the saying goes, but really an Englishman’s home is his obsession with its value
House prices is the bar-room subject up and down the land and a great bellwether of the economy.
Persimmon is named after a pear. As one of the UK’s biggest housebuilders is everything peachy or is it a basket of rotten fruit?
Research: Persimmon Plc
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Category: iBall
Heavens! A crunch has become chaos and carnage and the market only seems to go one way –meltdown. Perhaps, it is not the best time in the world to be cheerfully giving investment ideas, given it’s so difficult to pick anything out of all of this mess. Just look at our portfolio.
January 7th, 2008 at 11:23 am
I vee seen a houseprice crash comming for 18 months now. The property bubble is finally deflating, andthis process lasts YEARS, as all the crap loans work its way out of the system.
The price gap between Buy to Let and First time buyers [FTB]is huge. Remember 95% of the UK is unnafordable to FTBers reported Halifax. Expect at least 20% off houseprices before FTBers step back into the market.
PSN, I expect to go lower or trade sideways through 2008. Buy on dividend returns, not capital appreciation [too early for that].