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House Price Crash Forum


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Everything posted by SoldTooSoon

  1. I like the Vimto analogy at the end to explain the smoke and mirrors trick of QE, however it may be lost on most people because they just said fill the larger glass to the top, not fill it to the top with water.
  2. I initially thought that HTB2 would cause house prices to rise but now I'm not so sure. I was listening to a piece on Radio 4 this morning and was suprised that the best rate a new borrower will get is 5%, the government are charging the banks .99% premium for the loan guarantee which is a cost that will be passed onto the borrower and there will be a very strict lending criteria, i.e. proper credit checks and proof of income, no more liar loans and no more interest only loans. I can't help but think that the slight uptick in prices and market activity we've seen in recent months is based more on anticipation of HTB2 than anything else. Buy the rumour, sell the news, as they say! The average joint income of a British family is £40K The average UK house price is £170,000 So deposit required £8.5K (still a bit of a stretch for many people), Mortgage required £161.5K 3 x joint income(40K) = £120K Can you see where I'm coming from?
  3. How about a debt jubilee as proposed by Steve Keen. Debtors have a percentage of their debts written off and savers have the same percentage added to their savings - better than just giving all the QE money to the banksters!
  4. Now you're on to something. This is what the internet is made for - empowering people by sharing information. Would it really be that difficult for a consumer organisation like "Which" to compile a list of companies\brands that are cocking a snoot at the Britsh taxpayer by enjoying full access to Britsh markets, then indulging in cross border transfer pricing to avoid paying their fair share of tax. Dewhurst Butchers and the Vestey Group springs to mind, and more recently Starbucks! When you consider how aggresively HMRC pursue the small businessman in the UK for unpaid tax, it is just inconceivable that they and their political masters cannot close of the loopholes and remedy the situation.
  5. How much have average incomes grown since 1997? I bet its not by as much as the percentage growth in money supply. Factor in the fact that we have record low interest rates and there is still no appetite for people to take on more debt, in fact overall debt is being paid down. Eventually it shouldn't matter how much TPTB print money and give it to the banks. If they can't lend it out and there is zero velocity of money, then we will have reached the mathematical limit of the giant ponzi scheme and we will see a drop in the nominal price of everything.
  6. Stephen Baker MP - not all the tories are VI toffs!
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