EvilEdna

Lovely view of a brick wall from the kitchen windows as well.

It didn't get much coverage outside Germany because its not a great story. End of. Or do you think it's part of a global conspiracy? In which you've been watching Press TV too much.

"A new EU audit out today puts Greek deficit for 2009 at 15.4% of GDP - well up on figures announced earlier this year." Breaking news on the beeb. 15% good God.

Quite. When/if Spain starts to squeal is when things will get really interesting. IMHO.

"Does the ECB understand the concept of contagion?” asked Jacques Cailloux, chief Europe economist at RBS He would say that wouldn't he as they're the bank with the most significant exposure to the Irish property market. I can see why RBS should be worried but not why Ireland's problems alone are enough to bring down the EU card house.

I get sent regular e-mails from a "below market value opportunity" company. About 2 years ago they were all terraced houses in Liverpool. Now half of them are London maisonettes.

Poll on the Guardian website today: Will Ireland need a bailout? 36.7% Yes 63.3% No Wake up and smell the coffee people...

Quite - no torrent of abuse from here. I'm sorry to say it but Realist Bear you are utter pants at Forex. This has nothing to do with Sterling strength and everything to do with Euro weakness.

Am now seeing fewer properties on the market than a couple of months ago. This seems to be because sellers are giving up and taking properties off the market rather than there being an increase in the number of completions. Not much activity at the moment and no significant falls in asking prices :angry: I do use property bee by the way - seems to be on its last legs though

Point taken and thanks for clearing that up. Jolly nice of the Germans to give us our money back

And when Ireland goes bankrupt UK banks will take the hit http://www.independent.ie/business/irish/uk-banks-exposed-for-230bn-on-loans-in-ireland-2227308.html :angry:

"Zoellick really may be the stupidest man alive" James Bradford DeLong, professor of economics at UC Berkeley

Same problems in Ireland with the rugby: http://www.bbc.co.uk/news/world-europe-11709589

If he's doing it at 18:30 GMT, 17:30 "our time" puts "our" location as somewhere in the Atlantic

Quite, almost seems deliberate doesn't it

Thanks for some sanity - I quite agree.

It's on the front page of the UK section of the BBC website - the only story given more prominence is Cameron and the EU budget.

"Realistbear Posted 21 October 2010 - 08:45 AM http://www.xe.com/ 1 GBP $1.57453 Euro 1.12716 Not much in the news about this and it went up after the cuts were announced as if the economy would miracuously be unaffected by the loss of one half a million jobs (plus nock-on effect among companies that supply the government). IMO, Sterling will sink back down below 1.50 again over the course of the next few weeks..." Sterling now well over a cent up against the dollar on the day and about average for the last month - still think we'll be sub 1.50 in a few weeks RB?

What's crucial is the rate of forced sales. Forced sales from interest rate rises may still be some way off, however, forced sales as a result of job losses, increasing rates of part-time work, rising prices and low wage settlements will begin to make themselves felt over the next couple of years and at that point I'm expecting sudden and drastic falls.

Yep and that's a fall that will only come when we're all on what's left of the dole and get repossessed . Still, ultimately the dollar is heading for any even bigger fall if you ask me.

I'm afraid this is good news for landlords actually.

Quite! The pound was supposed to fall through the floor and it hasn't. Pretty much holding its own at the mo. It could go either way on the glorious 20th depending on whether the FOREX markets think that slightly smaller cuts are actually a bad thing or not. In any case it's all going to be small scale movements within the boundaries of the sort of day-to-day fluctuations that are often impossible to explain convincingly anyway. No reason to drop Sterling or get your knickers in a twist.

http://news.bbc.co.uk/2/hi/business/economy/8331116.stm

I've met this assertion before and I just don't get it. It seems to me that prices are currently stable. We have a market where there are few buyers and few forced sales leading to low activity and stable prices. In the area I watch prices have been pretty stable for over a year. A number of houses that have been put up for sale and have been on the market for a year or so without seeing any activity have been removed again without any indication that they've sold. In effect a sellers strike.

Perhaps he's just lying...