Bear turns too soon

Money Morning writer and property bear Dominic Frisby caused quite a stir when he recently announced he was caving in to buying a house, says John Stepek. But is he being to hasty?

Dominic Frisby, who writes for our free daily email, Money Morning, caused a bit of a stir on the MoneyWeek website last week. Fed up with the inconvenience of renting, and tempted by the sheer cheapness of money, Dominic a rampant gold bull and property bear confessed he was thinking of buying a house. His piece -Why the world'sbiggest property bear may be buying a house -has drawn a record number of comments read it, and have your say.

You can see why Dominic, and any other renters forced to remain in London, might be despairing right now. Despite record low interest rates, house prices in much of the rest of Britain remain well below their 2007 peak. Yet central London remains robust indeed, prime' areas are now even more expensive than they were before the crash.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.