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underpressuretobuy

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About underpressuretobuy

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  1. I would also be interested in any info anyone has for this area.
  2. I'm not sure that he is implying that, I think he was describing the reciprocal arrangements of free movement of capital and labour in Europe and arguing against protectionist measures destroying that. I think the article takes his comments too far and misrepresents what he said when it portrays him as suggesting that he meant "on your bike" or "let them eat cake". I think the article is missing the point that Mandelson is arguing against other countries taking protectionist measures such as France and Germany have taken One article today suggested a worrying scenario that Obama's America may pull away from us at the same time as Europe turns protectionist and pulls away from us leaving us stranded financially. I am not suggesting we should accept the current position but the IMF has effectively told the world that Britain has a toxic economy - in that situation we could end up being thrown out of Europe!
  3. What annoys me about this article is that he didn't actually say any of the things implied by the article. I wouldn't usually say this but the article is wrong, for a start it is quoting things he said quite a while ago now and secondly it uses language like "Peter Mandelson suggested that" when actually he didn't. As I understand it he simply argued against protectionism and pointed out current EU law that Britain is signed up to. He never suggested that British workers should go and get jobs in Europe. People have a right to be angry but I can't ignore the fact that the article is simply lying or at least misleading.
  4. House prices falling to affordable levels is always described as bad news so maybe a little property ramping next time. That is not the worst thing about this article though. The article does not relate house prices to the direction of the economy as a whole. Even worse the article is completely focussed on the UK with no recognition of global events. So you could add: 9. Unemployment is soaring meaning fewer people will be competing for houses thereby reducing demand 10. We're about to enter a GLOBAL DEPRESSION for the FIRST TIME EVER (but hey don't worry, at least prices north of the border are proving much more resilient??)
  5. Err...OK. Good point. I hadn't seen that. Nevertheless I am intrigued by a prediction that basically says HPI won't be returning anytime soon. These predictions were based on demographics and I think the effect of the imminent retirement of the baby boomer generation is being ignored as a factor when we look at the economy. I think many bears here want the same property owning dream as the bulls but this graph poses the question - what if that dream really is decades away? How many will fall for the "starting to look affordable now" idea? With job losses increasing at a phenomenal rate how many will find themselves unemployed or with a reduced income before they have a chance to be seduced by "more affordable" property? Is anyone prepared to consider the idea of no recovery for decades? Or is that too bearish for HPC?
  6. I know this is a huge document but I think it is really worth revisiting you only need to scroll down to page 46 (figure 16) for the authors predictions for UK house prices. Look at the graph at the bottom of P46 Please if anyone can post the graph itself that would be useful (not being lazy just don't know how to do it) although hopefully people will appreciate seeing where it came from. For all those who feel property is beginning to look affordable its worth noting that this prediction seems pretty accurate so far. So if house prices will be falling for the next two decades and more what will the economy look like
  7. Don't underestimate how comfortable people are at the moment. It is not just that they haven't lost their own jobs, there are still a lot of people who don't know anyone who has. Most are telling themselves that they work in a recession proof job in the same way that they used to tell themselves that houses in their area would never fall in price. Most people I speak to think it will all be back to normal (rising house prices etc.) in six months time so there is no reason to protest. People have been brainwashed to believe this situation will last for ever, it has taken a long time to convince people that there has been any change and now they are all waiting for a return to normality. People won't believe in a new normality for at least another year or maybe longer.
  8. Anybody else get annoyed that these people are PAID to deliver their view of the property market / economy? I mean could they find somebody with less of a clue?
  9. Not exactly. 1873 led to the "Scramble for Africa" and although the annexation of that continent wasn't exactly peaceful neither was it a world war. After that 1906 led to the First World War in 1914 1929 led to the Second World War in 1936. All this would suggest that a major world war should arrive around 2015. History can teach lessons but its important to look at what is different this time. I haven't actually thought about this before but here goes: Injin makes the enormously important point that faster transport and communications this time will speed the whole process up - perhaps the 2012 Olympics will precede a major war as they did in 1936? Also we have nuclear weapons now which have led the great powers to focus on indirect warfare through other countries. Not quite sure how that will materialize but thinking about it nuclear weapons are useless against guerilla warfare and terrorism. So maybe all countries affected by growing terrorism and guerilla activities and lots of potless disaffected people who will join the "terrorist" groups voluntarily? The other thing is that this is the first GLOBAL depression which means it will be longer than any that has gone before. So I guess that adds up to a coming age of conflict made up of many, many small scale battles across the world starting much faster and lasting for much longer. That would suggest an age where it is a lot harder to tell who the enemy is and of course those sorts of wars always do last longer.
  10. OMG! I am the ONLY bear on this forum by the sounds of it! House prices bottoming out in 2009, 2010 - What??? What are you all talking about! The UK has NEVER suffered the fallout from a GLOBAL depression before. Forget the little blip in house prices in the nineties - it's different this time! Where is that graph predicting house prices based on demographics and the retirement of the baby boomers? That graph predicted that houses would be a poor investment for decades IIRC, at the time I thought it was scary but ridiculous, now I'm not so sure. Perhaps I'm wrong but most of the predictions on here for the bottom of the housing market seem to correlate rather oddly with the amount of time individuals are willing to wait before buying. The impatient see the bottom in 2009 (or in one case 2008) the more patient suggest 2010 or 2011. I can't help feeling that the enormity of the current crisis is being totally overlooked in these predictions. If this was contained to the UK these predictions would be accurate, but this is our first ever experience of a global downturn / recession / depression. The money to pick us up and turn us around just won't be there. 2010 onwards will be a shocking decade and house prices will be the least of our concerns.
  11. Never believe anything until it has been officially denied
  12. Oh that's where the story came from. I did wonder why. Bullish sentiment returned at work today apparently based on confidence that foreign buyers would send UK house prices rocketing anytime soon. Any minute now.
  13. Don't know what will happen in 3 months time but I'm looking at the moment (although not in your area) and I received a phone call this evening from an agent saying that many properties that would appear to be above my price range are accepting much lower offers at the moment. I too had assumed that the market was static based on looking at asking prices. Whereas previously asking prices were non-negotiable it seems that now landlords are expecting that you will put in an offer below their asking price.
  14. You misunderstand me, I just meant that buying property need not be a reason to leave the forum. I don't see why you think it is.
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