Monday, Jun 25, 2007
how much more pain can we take from labour?
BBC: Council Tax Doubles IN 10 years
Labour have been bad for this country in so many ways, they have hammered the average person for taxes in many ways, we get less for more!! Go figure.. Potholed roads, rubbish everywhere, grass verges not cut, public services closing, road users being priced off roads, houses hitting highs beyond belief, the rich getting richer and mr and mrs smith cant eat for lack of money etc, then they claim inflation is not that high, how many ways can they gloss over the fact the UK is on the edge of a major crash and many people can barely live or get by on their poor incomes, this article is interesting... I only wish my wages went up at the same rate!! Who is milking our hard earned money from us? Whos pocket is the black hole?
Posted by simon @ 12:24 PM (141 views) Add Comment
4 Comments
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2. Andy said...
There has been a lot of talk of a big crash for so long. A lot of experts have been saying that there won't be a crash and to be honest up to now they have been right. I am interested if people really do think such a big crash will materialise and why. The talk thus far for not being a crash has been focused on lack of supply of housing. Well at the moment this argument is stacking up pretty well.
I would be interested to view peoples reply to this.
3. sovietuk said...
"Who is milking our hard earned money from us? Whos pocket is the black hole?"
Whenever Labour are in power, taxes always go up massivley over time. The tossers just waste the money and at the same time make a very well feathered bed for themselves. You think it's bad now, just you see if the tossers get in again, most people can wave their current living standards goodbye and you will also continue to loose your freedoms as well. The tossers will have a say in everything you do, from the moment you get up until the moment you go to bed. If you want an Orwellian nightmare this lot will give it to you if you give them the chance -GUARANTEED.
4. dohousescrashinthewoods said...
Supply is a sideshow.
Cheap credit (low interest rates) and loose lending mean many more people can borrow. So demand is the issue - demand that can get hold of a mortgage.
As interest rates rise, less people can afford the mortgage they would need for the asking price. As lending criteria get stricter, less people qualify for the mortgage they want. That weans lower demand that can get hold of a mortgage.
Supply probably hasn't changed much. Immigration probably hasn't changed much (who, on 10K, whether immigrant or local, can afford a house?).
So the rise and fall of the housing market will track the changes in interest rates and lending practices - convertible demand. When the market comes down, the effect is compounded by everyone who can no longer afford the mortgage(s) they got at the time, so it will come down very hard, from a very great height.
It is a mathematical outcome that will follow rising rates as night follows day.