Friday, Jun 15, 2007
How much longer can facts be ignored?
The Market Oracle: We are on the Brink of a UK Housing Market Crash Warns Fool.co.uk
Household finances in British homes are at breaking point.
Posted by speculatorone @ 09:48 PM (151 views) Add Comment
6 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. John_coller said...
This isn't really anything new it just a different way of stating that average debt is increasing.
£50 per month increase of house hold debt? Credit action says £390.
http://www.creditaction.org.uk/debtstats.htm
2. John_coller said...
This isn't really anything new it just a different way of stating that average debt is increasing.
£50 per month increase of house hold debt? Credit action says £390.
http://www.creditaction.org.uk/debtstats.htm
3. enuii said...
This is what recessions/crashes/inflation are made from. "Home-owners need to act swiftly. It is vital that they revisit their budgets now and identify where savings can be made. The average household may need to cut annual outgoings by as much as a tenth when their current fixed-rate deals expire." In a predominantly service based economy this is Bad News with a capital B.
4. talking rot said...
I can not understand the sheeple. I read reports such as this one and the next day I read other reports that Britain's high streets continue to see good trading. What am I missing? I can not simply understand why a 0.25% raise in interest rates could threaten the financial well-being of a large number of people?
Admittedly this site has always warned of the dire consequences of debt but I've regarded this as one end of a very broad spectrum. Will the BoE be concerned that their interest rate rises will cause economic hardship? Will Gordon Brown apply pressure on them to resist interest rate rises - when is the next election due? 2010?
5.75% by the end of the year with cuts in 2008. Can't have a recession hitting us during the run up to an election.
5. magnifico said...
Talking Rot, I think you might have a point. Cutting rates in the run up to the Elections would weaken the pound, strengthen the Euro, and possibly curb Euro skeptics ( sorry about the spelling), taking sympathy away from the Tories.You've heard here it from TR and Magnifico first.
As far as avoiding a recession, that's an altogether more complicated matter....
6. Pr said...
Under the provisions of the Parliament Acts of 1911 and 1949, the next United Kingdom general election must be held on or before 3 June 2010. Expect a crash as soon as Brown is settled in, with a mini-boom, and Olympic fever taking us into an election for May 2010. He will spend the next few years building up a war chest of hard cash and policies for that period, expect the NHS to be back on its feet. He has a mandate now from his party to run the country and will be feeling very comfortable, thank you very much.
By that time, he will have had a nice long period to beat the living daylights out of Cameron, which, whether you like it or not, will be done with precision, ruthlessness and extreme effectiveness at a time of Brown's advantage and choice. Anybody who understimates Brown, does so because he is a brilliant tactician, who would beat most at polker because he keeps his cards close to his chest and strikes swiftly at the perfect time. The strengths he requires to win an election will not be evident until he strikes. Such as, how he waited a decade to get the premiership, with such a massive mandate from his party, that all the serious rivals went for the deputy job and he made a laughing stock of those who stood against him for premiership. This was no small effort, he's spent the last decade slowly but surely building up one of the most solid set of political foundations ever seen in British Politics. Have any of you seen the ease at which he debates in the commons now? He only seemed distant previously because he was holiding himself back, engines at full throttle, not being held back by Blair, but holiding himself back waiting for Blair to do his job for him by imploding.
You see, Brown will know about the downturn that's due, realises its a global phenomena he has no power to avoid. He of course understands secular cycles and economic manipulation. He will engineer the downturn to his advantage. But then again, us Brits are always suspicious of success, especially when we are being manipulated to achieve that success, but most will be none the wiser, so it will work. In some ways it sucks, but he really is doing us a favour, consider the alternative, have you seen Oliver Letwin discussing economics? Its like a live classroom brainstorm, policies flying through the air, child like enthusiasm. If we have those chumps back we are screwed. The Tory party is now full of Oxbridge students who couldn't quite make it in the City or get a spot on Radio 4. It is full of vacuous droids, programmed by their successful chums who play them like miniorettes to pursue elitist policies. They are not the intellectual powerhouse that pulled us from being the Poor Man of Europe after the 1970's and the party has further to fall, at least two more general election failures to root out the deadwood and actually challenge Labour. Labour are letting the Tories have a nice period now, because they are churning over all the policy ideas, knowing that Cameron will use this space to show all his cards, giving Brown time to analyse and trash them in the run up to the 2010 election. It will be like the early 1990's when we as a nation were bruised by the last crash, but optimistic about the boom to come, not wanting to spoil the apple cart.