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dances with sheeple

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Everything posted by dances with sheeple

  1. I agree, first time buyers are being saved here, but many of them won`t see it that way. The headline should be "Nationwide blow to sellers" but no newspaper would run with that, just underlining that newspapers definately are not about the bigger picture. The sooner we all stop buying them the better (newspapers that is)
  2. Exactly, and the sooner the general population of sheeple get their head round this the better for everybody.
  3. Great news. Now let people get out of the madness of living on credit cards, and start SAVING for things they want, a deposit being as good a start as any for anyone.
  4. Words like Prime and Sub-prime are all really meaningless are they not? AAA ratings etc, a good guide for an investor? probably not any more. The main thing is are the sheeple going to keep playing the debt game? It looks for the moment that the banks are less and less willing to play.
  5. The bad risk borrower doesn`t get pursued for the house from other lenders because he is making minimum payments through an iva or some other arrangement, house prices are speeding up nicely (the lender thinks) and as long as the borrower keeps making his monthly payments everyone is happy, if he doesn`t the bank reposseses the house, sells it at auction to re-coup some of the debt and then proceeds to chase the borrower to the grave for the rest of the money. The borrower will make an agreement to pay minimum monthly amounts to the bank and move on to his next credit arrangement with someone else.Everyone is happy for the moment. Then the once in a thousand year systemic failure comes along, causing a massive credit crunch, and f*cking everything up for borrower and lender.the people making credit decisions at banks are not old enough to remember the woes of past decades, and it is their job to make decisions based on current circumstances.It`s all f*cked up now and we have a front row seat on this site don`t we. The future is a return to council housing, and low rent apartments for working families.
  6. Time is certainly on your side but not on the side of your in-laws, Having read this again, I just think you should not get involved in what seems like an over complicated way of avoiding a long drawn out battle to sell their house. If they bought for £90k why not just put the house up for sale and take what the market gives them? No offence, but are you sure this house is as desirable, and most crucially, sought after, as you say?
  7. All this sounds like your in-laws want to try France but have a get out option waiting at home if they don`t like it. I would be very wary of any deal which is in effect an equity release deal with family? Would saying no to the deal cause problems with your in-laws, or even with your wife? (I would still say no). I think the best bet(for you) would be to rent the house here,from them, and advise your in-laws to rent in France to see how they feel in a year or two. Is relying on selling a gaff in France, and a house in England being worth upwards of £400,000 sensible in a quickly deteriorating market? Do you really honestly feel they will be able to realise their price in this coming market? Do they? If they can get their profit out of the house, they probably should, and enjoy their retirement. You should rent and wait for the coming drop in prices for yes even good houses in good cities.
  8. Good stuff, but sad that the newspapers and TV have such a hold over peoples sentiment don`t you think?
  9. Yields will rise as prices drop, if you buy in at the bottom? rents won`t go anywhere, they have been static for ten years. The PRICES have gotten out of control because a two bed flat for example had come to be seen as akin to buying a good plot during the Gold Rush, and "owning" it means you can cash in your chips and become rich someday. Renting a two bed flat is only worth the actual utility value without the speculative value, which means it is not really worth a hell of a lot. House prices are about to go through the floor, and I think all the new build stuff will just make it easier to haggle on the rent in cities.
  10. The banks better be careful how they play this. I do think they have overstretched their hand this time, the generation of (especially under thirties) are more sheeplike and brainwashed than previous generations, but they also do not fear debt or feel shame in having debt as much as previous generations. They are not going to roll over and quietly take it from the banks for the next thirty years. Just look at how the reclaiming bank charges thing became a big issue. All it takes is a critical mass of mightily angry people to rally round the cause and the banks will be facing mass defaults , and litigation in all sorts of forms yet to be dreamed up .
  11. And judging by the News Blog on here today, things are hotting up. It is going to be like the scene from "Castaway" at the beginning, when Tom Hanks plane goes down, very very scary and unlike anything you can imagine or prepare for (many on here will cope, but a lot of the population are going to be very vulnerable?)
  12. Are people in a position to buy anything now though. Surely we must see the start of big drops soon? The media is all about what COULD happen at the moment. The sellers still think they can hold out for "their price". Some somber faced announcer needs to get on news 24, and just keep saying that because of credit tightening houses are returning to pre-boom prices, it`s official, then hand over to the bloke with the graph, Declan?, to tell you how many hundreds of thousands to knock off your price. Then there will be anarchy and civil war, but we will have a HPC. There is no other way that the general mass of sheeple are going to get the message in a hurry?
  13. I`d expect a backlash, Kursty`s face is already looking like a smacked bum because she knows the game is up. The only backlash the sheeple could muster though is changing the channel, there is no more desire to seek knowledge in the average sheep than that. If there was this web-site would not exist.
  14. I think the reality out there is that "bricks and mortar" is still seen as the way to go. It is going to take a bust of massive proportions to change that view. Television seems not to have credibility at it`s heart though, just shaping public opinion, and it has done a good job over the last 50 years or so. Television would have us believe that the generation of the fifties (the first one to really experience the brainwashing power of TV) were a square and sheeplike lot. In reality, I think they were probably a lot more free in their thinking than people today? That is the distorting and sinister power of television. Property programmes would have been useful to the VI`s to 1/ Try and slow the momentum of the crash. and 2/ Herald in many false dawns of when it is time to buy back in. Some or all of the presenters mentioned above could have been replaced with younger fitter models, just like Blue Peter, and the message modified to suit the state of the market. This battle would have been fought directly between the minds of the sheep and the ideas put forward in the property porn programmes. In less disastrous circumstances the VI`s probably could get people buying back in at prices way over what they need to pay quite easily, but as the credit crunch deepens and worsens, the sheep can only buy at a level dictated by their earning power and whatever the new paradigm in credit supply turns out to be .Even if they want to, the sheep cannot buy anything until the market returns to affordable multiples. A very frustrating situation for the VI`s who must watch the market crash and burn while sheeple are cursing the banks for stopping them "getting on the ladder"!
  15. People watch things that give them a cozy feeling they are doing the right thing. Even now most sheeple think they have done the right thing buying into the housing market. Housing is a thing that is on the aspirational radar of most people, and is just ripe for all sorts of psychological tweaking as has been done bigtime over the last few years. As the picture changes, the list of property porn programmes will just sink away to nothing, they may be run as repeats on some channel or another, but no one will be watching. The big price drops are not happening out in sheeple land are they? They are not being reported on mainstream news if they are. Most people trying to sell will just be annoyed at the "blip" in the market which is causing them to have difficulty in selling. The notion that your house could be "worth" HALF or less than you paid for it is not one that people will accept of their own freewill. Stories on here about asking prices going UP as the market obviously deteriorates, just underline the thick, greedy mania which is holding the country in it`s grip. "HOW LITTLE IS YOUR HOUSE WORTH" would be a good name for a TV show, but you will never see it, because it would be regarded with the same disgust as child molestation, and in a nation of "Homeowners" would never achieve enough viewers to get backing from any advertisers.
  16. People who will keep their house on for three years at a price they can`t sell at are greedy and probably stupid when it comes to the reality of this housing market, but they are probably not too desperate to sell. We need some sort of event, picked up on by the media in a way that really scares the sheeple( Neg. Equity on coronation st. maybe?) that gets it across to the people who really should never have been given credit to buy houses that they need to start reducing by about £5k a month until their property shifts or be shafted with debt for the rest of their lives. In a perverse way the NR bailout is probably giving comfort to a lot of sheeple that the government can somehow preserve the state of pricing in the housing market. What else could be keeping this silly silly charade going?
  17. They sell an image of a cool lifestyle choice for busy wanabes, or wanabes who want to project an image of being busy. During the recession which seems to be gathering pace many many people will be anything but busy and many people will just wanabe employed.Starbucks will have major problems, as the selling rubbish at silly prices thing fits well with the last 7 or so years, but not with the coming few years. People will take part in any old scheme to part them from their money in a credit boom, but not in a credit crunch.
  18. Interesting but scary thread. The sooner this silliness about house prices always rocketing up gets laid to rest forever the better, but the other effects on the economy are starting to look very very bad indeed. I am actually begining to worry now.
  19. Four things I took from it. 1/ Ruth Kelly looked better than usual 2/ The sheeple in newcastle just have no conception of what is happening 3/ The bloke who claimed to have lost £100k reminded me of an Enron employee. If you invest heavily in your employer, and can`t be arsed to do the "due dilligence" with the company reports, board share sell offs etc, then you are a d*ck and deserve to lose money 4/ The guy with the grey jogging style top who made the comment about "no subrime" ,and when the bank is resurected it will be a great bargain for some private enterprise must have been a plant. Ruth kelly took her cue from him and went on to try and create a picture of how great the fundamentals of NR really are, saying something along the lines of " the bank was doing great, until this American subrime kicked in" she looked like someone trying to sculpt a gold statue from a large lump of sh*te, All you needed was Patrick Swazye to do a walk on and feel her t*ts.
  20. Get real please. Do you see anyone in the dock over Iraq yet? They hung the boogeyman, that says it all. The new boogeyman is MORTGAGE FRAUD , the first two names out of the hat, two businessmen who don`t sound like they originated in the Home Counties, well well, all these shady b*stards in Nottingham,Leeds, and Leicster responsible for pumping the housing market tut tut. The people responsible are the regulators and the government who have allowed big finance to run unchecked for years , and the thick as F*ck sheeple who thought it was okay to keep buying when houses went to ten times salary! No one , I repeat NO ONE of any real concern to the establishment will be in the dock. The establishment will welcome the new boogeyman MORTGAGE FRAUD with open arms because it takes the heat off them.
  21. Come on guys, do you really think Darling doesn`t know what is going on, of course he does. His job is to guide and contain the sheeple, and for this reason an acknowledgement that things are not well with housing seems to be appropriate. He hopes the sheeple will just hear the words "when housing comes back" and go back to what they were doing. He can`t get up there and start shouting run run sell sell it`s all over ,it`s all over can he?
  22. There must already be distressed selling going on , maybe only city centre newbuilds so far? I think the fraud angle is going to be pushed in the media and certainly by the government as a way to say "there has been fraudulent turbulence" and that is the reason you can only in your wildest dreams expect to get £100,000 max for your house now. There will be stories about MP`s losing money on a house (probably their 3rd one fully bought by the taxpayer, but the sheeple won`t notice). The fact that it all seems to be still hanging together, or really that people just won`t knock down their price yet, is that housing over the last ten years has been the biggest windfall ordinary punters have ever had in this country. The idea that it is over will certainly not be taken up easily by the masses, we will need headlines saying "Get out now" "Houses crash 15%" etc etc. A big discussion over liar loans in the media would help crash sentiment, but also opens the compensation floodgates. You can see Brown and co`s rationale though. If they had let NR go, and another bank reported it was in trouble, you would have had a repeat panic, and the housing market would be looking a lot more shaky.They have done all they can for now. I would not bet my mortgage on it all ending well.
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