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B B C Radio 2 Jeremy Vine Show 06.08.08

32 posts in this topic

Financial Planner talked to Matthew Bannister (in for Jeremy Vine) about the proposed package of changes to stamp duty along side an estate agent aptly named Gordon Brown.

All this took place on 6th August, on BBC Radio 2 just after the 1 O'Clock news.

[url="http://www.housepricecrash.co.uk/media/jonathan-davis-radio2-2008-08-06.mp3"]Download recording[/url] (5.2MB MP3, 11 minutes, 23 seconds) Edited by Financial Planner

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Gordon Brown (EA) was on Radio 4's PM yesterday and actually sounded pretty cool;

"Been here before (in business for 30 years), but this time is worse"
"Stamp Duty Holiday won't help"
"Only answer is lower prices (and more lending)"
"Bubble was ridiculous"
"Lending was ridiculous"
"We were warning about this and the only way out is to let the bubble burst..."

[u]"Worse than last time"[/u]

Comments on the programme included one asking if we could swap Gordon Brown's as the new one sounded much better!

As for today, Go FP! But play nice with someone who at least appears an ally...

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[quote name='the anti krust' post='1246756' date='Aug 6 2008, 01:15 PM']Give 'em both barrels FP.[/quote]


What dont they understand about falling prices and market

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I loved the deathly silence when poor Gordon got cut off. I thought he was in total stunned silence for moment :lol:

Yes, well done FP Edited by Bockaaarck

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[quote name='billyslad' post='1246761' date='Aug 6 2008, 01:18 PM']What dont they understand about falling prices and market[/quote]

Homes are overvalued.

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[quote name='billyslad' post='1246761' date='Aug 6 2008, 01:18 PM']What dont they understand about falling prices and market[/quote]

That was pretty good stuff. FP left no-one in any doubt about the maths of a stamp duty holiday.
Now, let's hear the comments from Joe Public...

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[quote name='billyslad' post='1246761' date='Aug 6 2008, 01:18 PM']What dont they understand about falling prices and market[/quote]

FP, good effort. The EA to be fair, was a honest chap for a change. I really think the sentiment has finally gone. god forbid the price falls we will see.. as FP pointed out, this is going to be GC2 for a number of reasons... more like 2XGC.....


I think people are starting to FINALLY listen. The ea pointing out our economy is based off the housing market was an eyeopener. I am seriously gearing up towards planning purchase in the next 15 months. As FP said though, no rush... My "in" point is when Mortgage rates start to head down... Planning 10 year Fix rate mortgage with option to pay off excess each month... Plan is to have mortgage paid off by 40.

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Good, clear facts from FP again.

liked the text comments from the public so far.
Wonder if any of them came from hpc'ers ? :lol:

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Strange to have two bears in one interview. Edited by Bloo Loo

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[quote name='Bloo Loo' post='1246809' date='Aug 6 2008, 01:36 PM']Strange to have two bears in one interview.[/quote]

The EAs need turnover to keep the money flowing. The current stand-off is the worst case scenario for them, so now it's clear this is not a 'blip' prepare to hear them (finally) talking prices down.

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Had my comment read out on the radio during the comments and e-mail section.

"I know a simple way to increase house sale transactions and that is for sellers and estate agents to reduce their asking prices, NOT to artificially stimulate the market" via Stamp Duty.

Feeling rather chuffed now. Several million people should be much the wiser, and a grim reality check for those greedy sellers.

HA HA HA HA HA

ps. Well done FP. Gordon Brown's argument was limp and pathetic. His credibility was dealt a serious blow when he hinted has a property portfolio. Edited by Come On Down

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[quote]can someone post a linky?[/quote]
I've just added a link in the first post to the recording from the HPC server.

If you want to listen to the whole hour's discussion and listener comments the programme should be available on iPlayer later today for a week (I think it should appear on [url="http://www.bbc.co.uk/iplayer/episode/b00ctncl/"]this page[/url]).

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[quote name='Come On Down' post='1246835' date='Aug 6 2008, 01:53 PM']Had my comment read out on the radio during the comments and e-mail section.

"I know a simple way to increase house sale transactions and that is for sellers and estate agents to reduce their asking prices, NOT to artificially stimulate the market" via Stamp Duty.

Feeling rather chuffed now. Several million people should be much the wiser, and a grim reality check for those greedy sellers.

HA HA HA HA HA[/quote]

Nice one ;)
You have just done your part in spreading the word to the masses.

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Another stonking performance from FP.

I thought the EA had bolted in fear when his phone went dead.

EA firmly nailed as a vested interest who needs to do his maths.

Pity the FP didn't get the chance to get stuck into the 'rents are rising' nonsense.

Overall summary, a predictable three rounder, where despite some fancy footwork and a bit of showboating, EA shown as non-contender. All the solid point scoring blows were delivered by FP.

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Hmm, slightly annoyed FP didn't manage to get a chance to reply to the EA's complete disregard near the end to what FP had just said, he basically replied to FP by saying "rents are going up and you'll get your current purchase price back in 5 years time" neither point being true.

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Well that was a nice surprise to suddenly hear Financial Planner representing us again on the radio - just a shame the 'rents are rising' bit wasn't countered but that's not so important as the big message which got through..... other than that, another great performance!.

It wasn't too bad a programme with people phoning in with their views about stamp duty but what I would like to see is the issue of mortgage interest relief at source (MIRAS) bought back into the picture which the previous generation enjoyed but which was scraped by this government around 2000 I think. That would help first-time-buyers more than a 1% saving on stamp duty would.

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Great interview Financial planner. I was talking to my customer about the house price crash and about yourself being taken seriously now and then you were on the radio!!

Yes we know that people buy houses to live in not just as an investment. But why burden yourself with high repayments when you could have the same house for less payments if you wait.

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I think that was one of your best Jonathan.

You still strike the fear of God into the Radio presenters of these light entertainment programmes - the sort who simply want to keep their listeners happy, entertained and listening. :lol:

By the way - I think the only help they should offer the market is not one that will prop up prices...but re-instate mortgage payment relief if you become unemployed. This was removed some time ago. In theory, it should stop people losing their homes if they become unemployed and stop banks taking hits on their capital which they can ill afford.

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