verolution
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Posts posted by verolution
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Gordon Brown
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I know logic isn't a strong point for most lefties, but try this one out for size:
minimum wage = more unemployment
no minimum wage = less unemployment
hope this helps
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Hamish here is some simple logic that hopefully you can follow:
early 2000's: financial engineers create a load of derivatives (MBS, CDS, RMBS etc etc) that somehow "do away" with risk
2000-2007: aforementioned risk is reduced massively in cost as people believe the financial engineers, this lowering of risk encourages laxer lending standards fueling a massive boom in house prices.
2007: everyone realises the emperor has no clothes, and that actually the risk never disappeared. derivatives are seen for the sham they always were. house prices crash. THESE DERIVATIVES WILL NEVER COME BACK ON THE SAME SCALE AS BEFORE.
2007> house prices readjust to a market where liar loans, 8x salary mortgages, mortgages for dogs, mortgages for people called Hamish who live in a box ARE NO LONGER, AND NEVER WILL BE, AVAILABLE AGAIN. as a result house prices revert to a reasonable mean of around 4x salary.
hope this helps.
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You don't get it. Aggressive expansionist pizza chain != entrepreneurial spirit. Denying small local businesses the opportunity to operate in their own town is not fair - it's cultural and financial imperialism of the worst kind. It's only the big chains with their huge borrowing potential and cash flows that can afford to pay the extortionate rates to operate in the average high street. Much of the business model for chains like Starbucks relied on the appreciation of commercial real estate. This goes against everything that is truly free market and capitalist but you can't see it.
It is called creative destruction... Are you suggesting we should allow less than efficiently run business prosper at the expense of well run ones?
Some people on this site really don't have a f u c k i n g clue.
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Cmon this drop is obviously all attributable to MP's spending less in the wake of the expenses scandal
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There is no doubt in my mind that IT has improved productivity IF you have the skills to utilize it. For instance I'm a techie who works in marketing. Without any assistance I can take huge datasets, parse them using perl scripts, upload the data to a database, query it, model it in STATA / SPSS etc - basically I can probably achieve in one day what would have taken someone a month to do 30 years ago.
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Here is the reality:
a ) greedy banks conned and scammed stupid people so that they could collect fat bonuses
b ) investors realize its all a ponzi scheme and the banks start collapsing
c ) greedy banks get bailed out so that they can get more fat bonuses
d ) the stupid people they scammed are f*cked in the ass again by the greedy bankers
as they repo their houses
I think it is pretty obvious who is at fault here.
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It is a bit harsh to criticise the OP. Tantamount to taking the piss out of disabled people IMHO. The sad fact is a lot people aren't too bright, especially when it comes to finance, and even though they should know better they either lack the education, intelligence, or both. The real villains in this are the people who should know better, i.e. the banks, the government, the mortgage brokers etc. But whilst they are out still collecting bonuses, less than intelligent people like this are having their lives ruined.
Maybe it is time to get the burning pitchforks out.
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Sadly I wouldn't be overly surprised if this chap turns up having comitted 'suicide' in the near future.
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Anymore ******** and mickey mousery from Brown and co. and this country will be finished. Anyone capable to will leave, and houses will be worth next to nothing. If we end up like a deflationary version of Zimbabwe (which is looking more likely by the day) 100% falls aren't out of the question.
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50% to bottom in 2012.
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Been here from the start, my confidence has wavered on and off - but its always been a question of when not if. The problem with making predictions is there are far too many externalities, no one can know what will be just round the corner. For instance, back in mid '05 most people here were confident the market was falling on its ass, then "BAM" out of the blue the BOE cut in August '05 - re-inflating the market. They did so despite their remit being inflation not growth, you just can't predict actions like these - which is why its so hard to time this, or any, market correctly.
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By some very rough calculations using the rebuild calculator at http://calculator.bcis.co.uk/, the land value of my parents house (SE London) is approx 400k out of a ~500k 'value'. That would suggest if land values fall 50% their house would be 'worth' ~300k, which seems like a pretty realistic drop to me.
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Is mescalinemonkey....
A ) A Dwarf
B ) An Oompa loompa
C ) A Mescalinemonkey
i'm a homeless hermit crab
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I have a better idea. Buy a site with permission for caravans. Buy some very knackered, very large, very shitty caravans. Gut the inside of the caravans, build small houses in side the caravan shell, live in them for 12 years, then claim residency
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I saw this bulletin at 6am and then again at 8am. The script for it could have been written by the property industry spin doctors themselves and in today's corrupt, crony Britain its what you'd expect especially after a week in which property shares have taken one hell of a beating.
Before I even address the article, lets remind ourselves of what we on this website know full well : the current plight of property developers like Barratts is that of the snake that's eaten its own tail. By playing their part in ramping property prices, the developers have become victims of their own behaviour. What's gone around has come back around.
The report, for those who haven't seen it, states that the UK could now be facing its worst housing crisis since the 1930's. Sounds like their finally admitting what we've known here for ages, right?
Be under no illusion. This report is nothing but a thinly veiled attempt to garner support for the building industry by suggesting that they have become innocent victims of circumstances beyond their control and deserve our sympathy and support. They are using this article to have us believe they have had nothing to do with the Credit Crunch. We here on this forum know they've been one of its leading protagonists.
While this report happily ignores the very real and tragic plight of a lost generation of first time buyers, it is so poorly written it counters its own arguments: in case you didn't notice they even had to change spin doctor between bulletins as first one was so poor.
The report implied that if the builders go out of business there'll be an even bigger shortage of homes suggesting high prices will be sustained because of fewer properties coming on to the market.
How much more confused could that argument be? If that argument were true then some VIs - but not all - would want it to happen so why would a building industry spin doctor put that argument forward? A-hole! In the real world, if builders do go out of business there will be a rise in unemployment and reduction in economic growth so prices would more likely fall.
They've also dropped in the suggestion that we should now switch to the German housing model, namely renting out their unsold houses. My response? Drop dead!
And now that its suits them, they're even trying to play down the notion of property ownership - an aspiration they themselves turned into an obsession. Well, what's sauce for the goose is sauce for the gander, I say.
Now the developers are bricking themselves - pun intended - they suddenly want to change the rules of the game? Get stuffed.
Rarely has there been such glaringly obvious yet such poorly argued spin from the VI's that's masqueraded as a genuine new article.
Basically the message was : now the banking industry is f*cked and you can't get mortgages please rent our houses.
F*ck 'em. Let 'em fry.
Bravo! Great Post
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Fact is the price may aswell be put up 200%, they aren't going to sell either way, and the sellers/agents will have to capitulate soon (assuming they are motivated).
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I found just the place for you to emigrate to - Australia! They love people with your skills -
Have a nice day!
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Nah on second thoughts I think I'll stick around and watch your beloved ZanuLabour party get their ass handed to them at the next election. If, like a hundred + of your MP's, you happen to be made unemployed in the next couple of years I may even feel sorry for you. Then again probably not
.Do you remember this post?
I can quite understand why you're so annoyed. It must be gutting to have your party 160 (That's right ONE HUNDRED AND SIXTY!) seats behind Labour in the House of Commons with no likelyhood, whatsoever, of taking power in the forseeable future.Run along now, there's a good chap!
Looks like your political forecasting ability is a vacuous as your internet trolling
Run along now, there's a good chap!
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Hope you're very happy wherever you land up.
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Somewhere I wont have to pay taxes to support the likes of you
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Karla Whiffen, 23, and her 16-month-old daughter Millie live in a one-bed flat with panoramic sea views.
Miss Whiffen said she could not believe her luck. 'When I fell pregnant I put my name down on the council housing list then eight months later this place came up.
'You often hear horror stories about council places crawling with cockroaches but this is completely the opposite. I couldn't believe it when I got it. The views are right across to Brownsea Island and the yacht club is just in front of me.
I pay £75 a week using my housing benefit which is very good.
http://www.thisismoney.co.uk/mortgages/art...mp;in_page_id=8
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Ok, you lot can laugh, but get this:
If all these companies go to the wall who's going to build all the new houses?
Ay? Ay? You didn't think of that did you? Got you with that one didn't i?
I'll build my own with land bought at fire sale prices from a bankrupt builder
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Who is this guy who's on now? is it FP? dont buy into a falling market! Come on own up! ah - its ian mcwhirter
Ian McWhirter is a HPC Hero!!
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Where is Hometracks arch ramper John Wriggleworm these days?
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I would really appreciate the answer to this - how can average wages be significantly more than GDP / GNI per capita????
Presumably we can't afford to pay ourselves more than we produce (well we could, but it wouldn't take long to go bankrupt).
According to the IMF the UK's GDP per capita is 35,134 dollars, i.e. approximately £18k.
Michael Martin- The Poll
in House prices and the economy
Posted
I think the poll is broken. It is missing the obvious option of taking him out the back and putting a bullet in his head.