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House Price Crash Forum


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Everything posted by jocohen

  1. Vince cable has pointed out the entire assumptions of this budget is rapid growth in a year and a future house price fall of 15% from today to the bottom. Considering how wide government predictions have been, how far will growth go? How much more have house prices to fall till we reach the bottom?
  2. thats the truth of it. Unless prices fall to a real sustainable level, everything else will be stuck No FTB's means a huge part of the economy is stagnant - furniture, electrical etc
  3. You'd think journos would have to declare their vested interests when writing these articles. even the ft - the only quality english paper left can be a bit lazy with its houses headlines! But the truth is harsh, like the emperors new clothes - once you've seen the emperor naked no amount of BS could tell you otherwise for the first time in 50 years we've seen the damage financiers can do, and everyone should be shouting against these shady characters. Get some retrospective taxes against the bankers not the struggling tax payer and small businessman
  4. This budget is likely to be historical. We will remember this day until we die. We or our children will be have been sold into bonded labour by this labour party all for the lifestyle of financiers and false capitalism. Lets hope for an honest and open budget and let us see how deep this hole is. I'm braced for significant tax increases and recognise free income is going to all fall dramatically which will also impact on my business. I am an eternal optimist and yet cannot see any at the moment.
  5. People are of course free to waste their money, but why do we not shout for regulation of estate agents who can lie and thieve at will. When will we wake up and realise estate agents are a major part of our problem - regardless of your opinion of the degree of hpc fall there will be
  6. Well written article, yes I've noticed how often its Indian or subcontinent folks who seem to be able to write in a fluid style that was so common with our press only a few years ago. I suspect this is a result of our falling educational standards, shameful really.
  7. there are a lot of quangos and waste within the public sector. But what will actually happen is sacred unproductive cows will remain untouched. the 'important' ideological ones, european working time directive, maternity/paternity pay, homes for pregnant teens, and any anti family policy. Cuts will be made from the productive workforce within the state - which there is plenty of, thereby making it ineffective. Cutting costs is very easy as long as you get rid of the social engineering which is the legacy of 'new labour'
  8. the quote is within the citywire debate - see hpc homepage. The relief is currently in place and the person arguing it is a good thing to encourage BTL's is actually recognising even tax relief is a step too far
  9. "If there is any reform needed it is, perhaps, to review tax relief on borrowing to purchase buy-to-let properties as this gives investors an advantage over owner-occupiers who are not entitled to tax relief on borrowing to purchase their home" from the citywire debate. please tell me that wasn't true, well i thought we had less corruption then most but i was wrong
  10. Beware those who challenge the market. To much fake liquidity will result in sterling devaluation..who knows where it'll end up. Darling is set to destroy the economy if this is true. We need to cut back spending and start make banks liquid - it'll take 5 years but we can do it
  11. there seem to be a few of the old tricks coming back, I wonder why!
  12. despite all the attempts to cook books, the market shows its power. if you crate money out of nothing it will eventually return to nothing. The building societies need to start collecting back their cash and be very strict on who can receive mortgages i.e. even fewer mortgages out there
  13. one of the horrid consequences of all these problems has been the limbo land in which retired folk have been placed. Many around here cannot sell ( partly because they're asking for too much) and they then cannot afford to move into sheltered housing. I suspect offspring may be trying to protect inheritance rather then look after their parents..greed strikes again
  14. it has been noticeable how a few flats which had offers accepted in my son's block are now 'available' again. According to the sellers, finance may not be as available as has been advertised.I suspect some major banks have been getting free advertising ! SO giving offers is one thing - getting it financed is quite another
  15. the strange thing is that the cut throat nature of america means it will be able to deal with any economic situation. It may not be a good thing but the poorest in the US are as badly off as those in some indian villages. This does mean there is a large population of people striving to get out and from where some good may come from. also many parts of the us act as a fairly enclosed economy where all food and essentials are locally produced and therefore resist external financier based destruction
  16. if you're smart enough to have done well..congratulate yourself if your wealth is real and trust your own judgement!!
  17. it is these people that give free market capitalism. until free marketeers can deal with the fraudulent side..people will turn to leftist groups for ideological direction. these tend to be inefficient but not outright thieves
  18. its not the $ thaat needs to worry - remember the world is not chinese. The other surplus holders are the japs and saudis. They will back the dollar - the last thing they want is an all powerful china. One of the £ or euro will fall away, our beloved £ is the obvious one but we have independence and political stability. The euro on the other hand...who knows whats going to happen ineastern europe , italy or greece....we've got a chance. The americans will be fine - they'll lose some face but will get their act together eventually it us or the europeans that will lose out
  19. I think its clear that has the first wave of bankers start running short of cash after being fired more supply will come onto the market, inevitably this will lead to chasing those with the finances to buy
  20. that is the funny things - most of this money was magicked out of nothing!
  21. HSBC are not immune from the crisis - something will bring them down to insolvency - i.e the current state of every major world bank. Amazing- every bank in the world is effectively bankrupt in real terms and has been for decades we were just too stupid to realise. Protect only the depositers and let them go bankrupt new banks will come- there are plenty that are solvent in the world and they need to step up to the plate
  22. anyway it'll be a few years before anyone sensible will be jumping into property yet
  23. as a small businessman i sometimes think the idea that entrepreneurs creating jobs and government jobs don't is too simplistic. there are many businessman that depend on favourable tax breaks or dodgy deals done with local politicians for their business model to make a profit. Equally there are some government jobs which generate income - science research and some parts of medical care. But its the inefficiencies and ideological rubbish that eat up cash i.e the equality commission or paternity and even extending maternity pay. the form filling. there is huge wastage in the civil service. even overpaid hospital doctors who get paid for sleeping at home etc etc Unless we wake up and pay for productivity we will suffer in Europe. Its not the USA that will decline for eastern competition - its the Europeans and we'll be dragged down with them if we're not careful
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