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bubble

If you are a fan of Alan Greenspan, look away now. That's what he did when the first shoots of the housing bubble were evidenced - and then said he wouldn't have known anyway because the data at the US Fed was too recent. Except that it wasn't - it was simply parochial. The data was there - the Fed didn't think about it. And now, here is is again.

BIScom Subsection: 

Australia's ASIC has undertaken an extensive review of so-called "reverse mortgages" which are actual mortgages with potentially catastrophic long-tail results, which may be one of the things that borrowers did not understand. The findings of the review are startling.

BIScom Subsection: 

The UK government is to host a conference on FinTech as part of FinTech Week 2017. Chancellor Phillip Hammond is pleased to say that it's got Bank of England Governor Mark Carney and City Minister Simon Kirby to speak. If that sounds like a non-coup, just think about this: the FinTech bubble is already under strain. It may well have burst by the time the conference takes place in the middle of April.

I hate buzzwords. I hate management-speak. And I really, really hate trends that appear to be one thing when really they are another. And more than all of those combined, I hate marketing-hype bubbles where everyone talks in breathless terms about the means instead of the ends or, even, the process.

So it follows, even though I've been fascinated by technology for decades, I'm irritated by the growth of so-called "fintech."

And I'm watching all the signs of a bubble.

It may not be scientific research but the word-of-mouth system around South East England last week was that the property boom was already in the grip of a downturn as the IMF issued a report saying that it was all rosy. Last year, the UK housing market, according to some reports, soared 25% by average house price value.

hahagotcha