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House Price Crash Forum

Flatdog

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Posts posted by Flatdog

  1. The UK housing market baffles the hell out of me. Other countries around the world in similar states to our own have seen proper corrections, but here in old Blighty we are well in bubble territory and FTB's are still desperate to buy.

    I was recently speaking to a FTB who has taken the plunge courtesy of some crooked subsidised deposit scheme. When I mentioned that the only reason I'd consider buying right now would be to hedge against inflation I got a blank stare. I also got the same blank stare when I suggested that buying now maybe risky given the base rate has never been this low in the entire 300 year history of the BoE.

    There are lots of things to consider when buying a house in normal market conditions but given the clusterfook that is the global financial system much more needs to be considered right now. Still none of that matters, the people already on the ladder say you cannot go wrong with bricks and mortar so why consider anything, just saddle up with a massive pile of debt, afterall, debt is wealth ;)

    'Tis the British way, media propaganda et al, there is no place here for peeps with independant thought.

  2. 'This culture of greed and the concerted effort to target certain sectors of society shows the underbelly of British culture for what it is: a mockery of social justice for the world's oldest democracy.

    Where the hell is our 'responsible' government?

    No wonder people here are so miserable.'

    Such poignant words.

    IMHO we don't have a government, just a facade of such which is entirely populated by [email protected]#oles happily coining it as the ship continues to sink.

  3. The IMF is a man made organisation.

    ie, its a group of people that do a task.

    People dont do tasks for free. Thay are therefore paid.

    In the case of the Banking system, Bankers beleive they are somehow special in that because they deal with large amounts of other peoples money, they are somehow entitled to a percentage of all that passes through their hands.

    And as the IMF is a collector of loans and issuer of loans to Countries, they need the best of the best Politcally aware bankers....thats TWO skills, and they have to compete with the jobs market for execs, so salaries and perks are going to be astronomic.

    I must admit, it is hard to decide where to put donated billions to best use, ie, decide where my bread is buttered the best for me.

    So many astute and considered posts on this thread, yet so far no mention of the Catholic Church as a VI

  4. Growth , growth we must resume growth to be able to pay the national debt... words we keep hearing from every fkin politician , economist , Eurocrat and media both written and broadcast...

    And yet there is one question that no one ever asks, a simple logical question that when the answer is reconised and acknowledged would or at least should change the way this whole freaking mess is being dealt with..

    So here's the question:

    How on earth are we going to stimulate growth ( which means to create an economy that produces more this year than it did the year before) when the growth in the 5 years to 2009 was entirely stimulated by trillions of pounds of irrisponciable credit being dropped into the economy . ?

    EVERY SINGLE POUND OF SO CALLED GROWTH SINCE THOSE YEARS IS COMPLETLY SET OFF BY THE AMOUNT OF CREDIT DROPPED INTO THE UK ECONOMY!!!

    So there was never really any growth anyway .. just a regurgitation of the credit given ......the government took a slice off every person / business that the funds passed thro ..... until we reached today when there was nothing left.

    There are neither the available funds to give credit or the appetite to use credit ... it.s simples ... there will not be growth.. there will be massive decline because the government is still taking a slice that the people /businesses cannot afford.

    The answer is simple common sence : the government MUST STOP SPENDING MONEY IT DOESNT HAVE , AND THE PUBLIC HAVE TO HAVE MORE REALISTIC EXPECTATIONS OF WHAT WE CAN RECEIVE FROM THE GOVERNMENT.

    But that aint gonna happen .......so I am afraid to say its every man for himself!!!

    Are you related to Eric?

  5. This is the Concorde fallacy - the money was already lost.

    If you walk away from $200,000 negative equity, then your financial position improves by $200,000 regardless of how much (e.g. your deposit, loan repayments etc.) you have already lost.

    Try telling that to our friends who lost all of their savings...

    Concorde Fallacy:

    Name given by evolutionary biologists to a form of suboptimal behaviour found among wasps and policymakers.

  6. Agreed TMT, but it is well worth reading the comments to get a better understanding..excerpt below:

    The person walking away loses too, they lost their house and all the payments they have made and their down payment.

    I have friends in California who 'walked away' a year ago, they purchased at the top of the bubble and lost their lifetime savings (deposit) as a result.

  7. Vince talked a good talk "an economy built on rising house prices is an economy built on sand" pre-election, since then he has turned out to be just another gimp.

    Agreed.

    It isn’t that long ago that Vince Cable was the only MP that made any sense in the House of Commons, an HPC hero?

    Given a role in Government he has transformed into an aged and hopeless numpty, devoid of respect from all quarters.

    Sad really, but inevitable.

  8. I have it on good authority that the BoE’s MPC will almost certainly, in all probability and without a doubt going forward with regard to the past twelve months to two years into the future, raise or maintain interest rates, depending on a range or variety or even one single factor or outcome in the best interests of Britain’s economic future. If indeed we have one.

    You left out 'vigilance'..otherwise a truly inspirational and brilliantly appropriate post, I wish that I had your way with words.

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