Battling the property investment propaganda

photo credit: Matthew Shelley

Today I’m on a one-blogger anti-propaganda mission, Michael Moore style. In the first three months of 1992, the time of the last major UK property wobble, just 146,000 UK mortgage sales were completed, according to thisismoney.

Back in March of that year Madness topped the charts, and we all still relied on phones and fax machines for communication. All reporting and commentating on the property crash was done through channels which make the humble email look like a Lamborghini Gallardo.

Disinformation nation

Fast forward to 2008 and every man and his dog wants their two pence worth of soapbox time on the current situation through the wonders of modern technology. Thirty press releases a day pile into my inbox where they elbow each other for attention, and the Skype phone chimes all day. The result? A mountain of claims, counter-claims, plans, schemes, statements, studies and outright propaganda akin to the information battles of World War Two.

Confusing messages

Take Sandbach-based Persimmon homes for instance. Early this month the firm happily pooped out a press release declaring its Mercia office was doing just fine thanks, and Persimmon’s figures ‘flew in the face’ of opinions that the UK housing market is in decline.

A week later its trading statement revealed its completions were down 31 per cent during the six months to June 30. They are not the only ones sending out confusing messages. It’s all too much. I’m off to dig a recession shelter in the back garden and slap masking tape on the windows. Wake me up when the information war is over.

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