Jump to content
House Price Crash Forum

plummet expert

  • Posts

  • Joined

  • Last visited

Everything posted by plummet expert

  1. IT IS SHOCKING - ABSOLUTELY SHOCKING! NOTHING HAS BEEN LEARNT ABOUT CREDIT FUELLED BOOMS !! The pruchasers can even use the developers line of 'brokers' to raise the 10% deposit !!!! This is exactly what keeps prices sky high and stops them returning to what an income can support. If only I was Chancellor or PM none of this woud be happening - there would have been a proper correction - a proper set of lending and savinga arrangements in place - a big fall in land prices - no more mum and dad banks or even grandad banks needed - no more equity which does not represent the increase in wages over a long time. No more Carney.......
  2. Yes, other thread was me and is now posted in yours. The BIG question is whether HSBC in the UK is actually limiting withdrawals! If you know anyone having problems then please set up a post. Everyone else add to it. The next question is whether UK Hsbc is in any wa y a separate legal entity which can survive any catastrophe in China. I suspect firmly not if any sniff of limiting withdrawing your own money is true.
  3. http://iacknowledge.net/hsbc-bank-on-verge-of-collapse-second-major-banking-crash-imminent/ See this article. Post what you know as to whether there's any truth in this. What about Santander?
  4. I am sure what you say is generally true. However its not wrong to try and get more goods manufactured here. Costs in China have risen quite sharply of late. If any manufacturing does return in any quantity worth discussing, then it won't be because a Tory govt is a success, but only because something became economic.
  5. Yes! Carney was always going to be the wrong man for the job. He has no clue and left Canada with a housing crisis. He has already signalled end of his 'Forward Guidance Target' policy, little more than 6 months after trunpeting its appearance. He has already started to back away from his 7% target for unemployment to consider rate rises. He is a lightweight. Frankly I would do better. I would control the banks with sensible regulation and befoe long the long term price of Land would be control itself. Before long the mal-investment of land speculation would be mostly replaced with investment in productive industry. Before long we would not be worrying that derivatives could sink us, but only sink a few investment banks in any future crisis. Why are we letting a wave of foreign investors pump up London's house market ? Other countries do not automatically allow non residents to purchase!
  6. I suspect that Farage is broadly right. You have to accept the biological facts of life. People do not sit about saying, 'let's not have any women here.' They say, who is the best person for the job. Less women put themselves forward in the city. Therefore the result is less women reach the top there. Some other occupations may attract them more - lawyers for example - now more women qualifying than men. Very often more lady GP's in a practice than men - but more liekly to be part time. Louise - get a life!!! UKIP at least does not believe in any form of discrimination including, 'positive discrimination'. On that, I am in agreement.
  7. I suspect the next election will produce another hung Parliament. There will be less Liberals, Labour as the biggest Party but no majority, Cons will be lose a handful of seats and UKIP will probably get a few seats in specific areas which they could win from any party actually looking at their local results. The tories will scupper their own hopes. Whilst they have ignited yet another DEBT FUELLED BOOM BASED ON HOUSE PRICES, the cost of living in this country is so high that people cannot reconcile their experience with the announcements that things are improving. In fact - Manufacturing dropped by 4% in the last qtr, the balance of payments is in trouble and worst for 25 yrs AND savings have fallen to a 40 yr low. All the signs of a forthcoming crisis then, just as Carswell says and I have been stating is the way of UK govts for over 50yrs now. That is why we have no manufacturing base to speak of...endless pump priming and price rises which cause wage rises and no actual rise in wealth except for a very few. Even 'right to buy' council houses are falling into the hands of LL's. A third of them in London already! FOOL BRITTANIA
  8. Well now, this man is talking economic sense! In fact he needs to join UKIP right away. There is no one in any mainstream party speaking about the true state of the economy, the credit boom, the wrongs sort of growth, the exportless recovery, the balance of payments in crisis, the savings rate at a 40 year low. The signs of an Osborne self destruct are ll in place. UK Titanic is ready to sink again, but only after the elction of course. This time and more unusually, it will be a Conservative mess. Mrs T is now turning, but sadly only in her grave.
  9. We should also note that Options to purchase Land will be at a price to be fixed AT THE TIME OF PURCHASE - not therefore the agricultural price. Having negotiated such documents for Land Owners, the attraction is a payment just for an option for a period. When the period runs out, the Option is finished unless exercised. The developer cannot usually force a sale unless they manage to obtain planning consent and that's when the price would rocket to developable land values. They spend alot of time and money trying to get planning consent! So, it's a win win for the Land Owner.
  10. THAT'S NOT TRUE! UKIP are taking votes from all the parties depending on the area. Sometimes the Liberals lose their votes - eg Eastleigh by-election. Sometimes they take a large slice of TORY VOTE AND IN OTHER PLACES THE LABOUR VOTE HAS COLLAPSED. What is common to all theses scenarios is that a substantial number of votes from all Parties are going UKIP.
  11. The three 'main ' parties are already very scared of UKIP - It isrising fast around me in Sussex and now the opposition for local govt. In fact, LibDems will lose out in seats next time, to any other party in the wings, but the main movers will be UKIP who will get seats in Parliament. There are a good 20 areas in this country ready to go UKIP. It is no longer a protest vote. People don't believe in Cameron's phony attempt to 'renegotiate' our terms of EU membership. It's not possible and the EU always comes back at you whatever promise they make and you can't trust them! You can't trust Cameron to hold a rferendum on the EU that is not a straight IN/OUT question. Immigration is a top topic and will only be rsolved by having the Borders back by leaving the EU.
  12. Anything is possible! But, unless we base our efforts on incresing our manufacturing base and exporting capacity, any such idea will remain very unlikely - we will derail from this current upswing within 3 yrs as it's based on the sands of house price pump priming. Doomed at its inception and destined NOT to produce long term wealth.
  13. And what's more irritating is that this rise in the value of sterling does not relflect a strong economy, but just a pumped up property market. In fact we have a very wobbly manufacturing and exporting sector - exports have been falling in recent months. A rise in sterling will make that trend even more likely. The very policy of house pump prime will actually choke off the rather tame recovery in manufacturing and exporting that appeared for a while. The balanc of payments are the worst for 25yrs and savings at their lowest for 40 yrs. All this signals is trouble ahead. The pound should be falling, so this is a distortuon we just don't need. Rising interest rates actually are needed to restore a functioning real economy. Carney has no clue and has left Canada in a house price bubble mees he created. I do think the unexpected will happen in 2014-15 and before the election.
  14. [b]AND I have said the growth we see is unbalanced frequently on this site- Don't take it from me:[/b] [b]"The Bank of England and economists have also been concerned that the recovery is unbalanced in a way that could ultimately prove unsustainable - with too great a reliance on household consumption and insufficient exports and business investment. Friday's data showed business investment starting to improve but painted a bleak picture on trade. "If the recovery is to be sustained at a healthy pace, it really does need a marked, extended pick up in business investment and for exports to improve markedly," said Howard Archer, an economist with IHS Global Insight."[/b]
  15. The economy is not recovering in any balanced sort of way! Just as I have been saying recently, the balance of paymenst is a disatser, indicating we are not paying our way! Also, the export led recovery is non existent - it is nothing more than a very weak recovery indeed with a mini housing price boom stuck on top. Read it below....real wages are falling, savings are falling, people need food banks in ever greater numbers, people cannot afford rents, interest rates are too low and distorting everything - including holding up home prices. A few rich people are doing very nicely on the wave of free money flowing into banks at the press of a button on the false basis that we need this to cause growth and pay back our debts with it. http://www.theguardian.com/business/2013/dec/20/uk-trade-deficit-share-gdp-ons
  16. This is true. BUT, we have far fewer small and medium size enterprises. Our finance based co's are also a far higher proportion of the 'economy' than is prudent - so quoting the number of Co's and not their proportion of the economy is misleading. We have a manufacturing base which has shrunk to about 12% of the economy, from over 30% in 1979. Our exports have been falling lately, our savings the lowest for 40 yrs, our balance of payments the worst fro 25yrs. Germany has a far more balanced economy, with a high proportion f manaufacturing and exports are healthy. Their land costs are controlled and therefore their cost of living is much lower. We are a mess because of govt decisions over the last 60yrs and leading to very high house prices and therefore wage costs and now a,lower standard of living. Interestingly UKIP policies would have amuch better chance of correcting these problems...
  17. I agree with the above answer. Rent can be apportioned and I presume must have been at the start in order to get to payments being on 1st of the month. So you can pay to 24th and leave. The only thing which can alter this is a term in your agreement - so you need to read it or ask the agent where this clause is, otherwise it's the 24th.
  18. They may not be able to do this under EU law. Even if they can, UKIP are the pressure for it to happen atall. The Govt answer IS NOT the answer - we need to stop people just arriving and trying to find housing, using the NHS, sending their children to our schools, claiming child benefit/ even sending it back to Bulgaria if they come alone, and having to rent the precious few homes around. If you come from a non EU country the rule is now 5 yrs until you get permanent leave to remain - then you can apply for benefits - you must pass the stringent entry requirements and have somewhere to live or be supported or have a sponsor and or job etc. We have no room for any more citizens. We should behave like the USA, Canada, Australia and almost anywhere else. Unfortunately the EU wants to become one country and Harmonise you all. Do you want that? The cost of being in the EU is staggering - it does NOT bring us more jobs - we only hear 'fear' reasons for remaining in the EU - there's nothing positive about it. It should be a customs agreement/ trade agreement and nothing else.
  19. All Govt Statistics are highly suspect. THE CRIME FIGURES WERE EXPOSED AS BEING BOGUS - NO SURPRISE. Crime has fallen - but by about 5-10% over the last 15yrs - not 50% as claimed by the govt recently. I KNOW.
  20. An interesting way to look at it! The problem is we have govts who allow a false market in housing to arise, by very lax lending. That benefits only those who buy at the beginning of the cycle after a crash - ie 1994 to 97 buyers are best off at present. Our inability to prosper as an exporting nation/ + financial crisis, should have resulted in a fall in house prices and the underlying land price dropping a great deal. Only because of artificially held down rates and lending of 4 x incomes or more, has this market survived. None of the current policies including QE will prove to have helped - should not have happened except for about 1 yr after 2008. Sorry, but History will judge all of it and Carney to have been very wrong.
  21. It will be written up in history as another glorious treasury led mistake - Barber boom, Lawson Boom, Brown Boom, Osborne boom. When will we learn? : they were all based on land and property and lending/borrowing too much. It has struck me that the only period of strong recovery without a balance of payments crisis in my life time was afteer the property crash of 1989-1994. It in fact feed us temporarily from the nonsense this causes. We alos resumed a free currency by pulling out of the Exchnage Rate Mechanism ( the precursor to joinig the Euro, which thank God went wrong for us).
  22. Funny how the IMF are warning them about their schemes and saying nothing about our moronic house buying /mortgage schemes and incredible govt borrowing. Our national debt is about 1.3 trillion pounds and rising. It is more than likely that before we can get anywhere near paying it back, rather than adding to it, rates will rise and make it unservicable. ONLY because we were not in the EURO have we been able, so far, to avoid the fate of Greece and Spain. Will we avoid it altogether? It would be a surprise and very lucky indeed. The growth we are currenlt told about is phoney: the balance of payments has fallen off a cliff and a the 'surpise' fall in exports is its partner. So only the housing ponzi scheme is actually causing any of it !! I am not surprised.
  23. Mervyn King rightly pointed out that people will borrow 'whatever they are allowed to borrow.' Frankly it is vital that strict laws and rules apply to borrowing for land or property to avoid the speculation frenzy that has so damaged the British economy for so many generations. Look at the story from Exeter as we speak - an off plan buying frenzy for student apartments. The price of a home in the UK, particularly the south, is so far removed from most of the rest of EU, it is incredible it has not collapsed already. Only low interest rates and spectacularly stupid lending policies and 'help to buy' schemes are holding it up. It certainly has NO anchor in reality. http://www.ebay.co.uk/itm/5-BEDROOM-TRADITIONAL-RENOVATED-DETACHED-STONE-COTTAGE-IN-BRITTANY-FRANCE-/141126376210?pt=UK_HG_Property_RL&hash=item20dbc99b12#ht_1490wt_1141
  24. VERY INTERESTING. What is being missed is the huge deterioration in the balance of payments and huge fall in exports in the last qtr. This is because our silly chancellor has started growth by unwise borrrowing on the back of high income mulriple mortgages, made artificially cheap. The growth is FAKE. 0.8% GROWTH, when real incomes are falling or stagnant. It's FAKE Growth when exports fall substantially and we have the worst balance of payments position since the very stupid Lawson property boom of 1988. Mark my words....it will not work and because successive silly giovts have played this trick over 50 yrs, it works less well each time the drug is administered. All we get is less productive industry and more mal investment and another fiancial headache to face. The Chancellor's clothes are coming off and he will soon be down to his underpants.
  25. UKIP now very strong in Sussex. Many reasons including idiotic economics, batty immigration policy which cannot be negotiated as suggested in the news today AND no trust in PM to bring about a proper fair EU in/out referendum - I think there is now a good majority in favour of levaing the EU and just having a normal trade deal, like any other country outside the EU.
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.