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House Price Crash Forum

Foobar

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About Foobar

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  1. Yeah I thought about this, you wouldn't have to say a thing, just cut together what he said then what happend, culminating in the mess we're in now. You could look here, it's what the pro's use, probably costs an arm and a leg (depends on how serious you are), but it's interesting to watch some of the clips: http://www.itnsource.com/
  2. Anybody know where the bonds that are created from credit card debt are listed so we can monitor what is happening to the market? Have the impressive falls seen in the mortgage debt markets started to appear in the credit card derivatives markets? I guess it makes sense that the mortgage bonds would go first followed by credit cards? People have used the MEW to pay off credit card debt?
  3. One person who started to open my eyes to world poverty and the food situation was Susan George, I highly recommend reading her work: http://www.tni.org/detail_page.phtml?text1...ws&menu=13e
  4. What I find very disturbing is to see all the money from the amazing financial money making machine those financial geniuses cooked up (pass the subprime parcel) go into staple food markets. Ok so a FTB not being able to afford a flat/house is one thing but inflating the price of food for 4/5ths of the world's population living in poverty, is just pure evil. People will die and no doubt are dying as a result. You won't have long to wait for the pictures of people starving on your TV screens.
  5. I find it totally incredible that a supposedly intelligent man can sit there and say inflation is low on the one hand then quote a 180% increase on the largest purchase you are likely to make! But he's just a puppet of the banks trying to make lunacy sound like a good option, he's little more than a confidence trickster. Look how he ran to make the BoE independent as soon as Labour was in office that was a sure sign of what was to come: unfettered money creation. I would love a journalist to ask him this very simple question: "how do rising property prices benefit the ordinary person?" The whole edifice falls down on that very point and shows you who this man really works for. I think now the question is academic as we are seeing the very real answer: it doesn't benefit the ordinary person. In fact it impoverishes the ordinary person on a grand scale and more so their children, if they can afford to have any. I wonder which bank Gordon is lined up to work for after leaving office it must be arranged already as he must be working for them now? Do you think Blair would tolerate him at JP Morgan?
  6. Up up and away for the euro; at this rate we will be 1:1 within the next year! http://www.dailyfx.com/charts/Chart.html?symbol=EUR/GBP
  7. As I understand it: Gold is thought to reflect the value of currency or used to? We had a rate cut from the fed and as has been pointed out you would have expected gold to rise. It didn't. It has been known at these times of crisis central banks will sell or "lease" more gold to protect the value of currency. Thus propping up the value of the dollar, and giving the banks a window to bail out of bad positions with all that lovely new money slopping around the system. The IMF has also said it is prepared to sell off some of it's gold in a crisis. This is all very well while there is gold to sell or "leasing" deals that can be made, when they have sold off all the gold and can no longer lease it, what happens then? Exactly how much of our gold did Gordon Brown sell and how much is left? Does anyone think this leaves the pound brutally exposed the last time it crashed it was interest rates and gold that stopped it going further. But, this time have we as a nation got the same amount of gold in relation to the amount of our currency? It will be interesting to see how long they can keep up the trick of inflating the money supply with the price of gold then going down, it seems they have managed to turn gold in to something approaching a fiat currency? Will the lid ever come off ? See: http://www.gata.org/
  8. and guess who's recently got a job with them? http://news.bbc.co.uk/1/hi/business/7180306.stm
  9. On the subject of eating your dinner, I remember being told this story at school: http://www.shinnyo-en.org/kids/tales_dining.php There is no is no insult intended that this comes from the kids section of the website it's just the first site I found when I googled for it. It made me think: if we helped each other more with buying houses in a fair (interest free loans) way then we wouldn't have to pay the banks 150% of the house price in interest charges which equates to what? Working twice as long? Pie in the sky dreaming I know, but if you got enough people together who would cooperate, they'd sure save alot in interest payments, no?
  10. Maybe people buy this stuff to put on roses or something? Anyone any ideas why this stuff would be bought up? Or is it that the price falls so low that it becomes an "investment" even if 99.9% default?
  11. I'm still gobbed smacked the Government are funding negative equity in the form of the Northern Rock's "Together" mortgage, it's some sort of sick joke. "Together" yes that's you and all the tax payers paying for negative equity!
  12. For those who are tired of the media/government spin and statistical obfuscation. Here is a graph of UK real estate going down as we speak, courtesy of those nice people at cmcmarkets spread betting service. This is what the financial markets are making of the sector, so take heart all is definitely not well (this whole thing has my head so f**ked up: hoping for a crash in the hope of a decent standard of living wtf ). Not sure what's in the index, I imagine a mix of builders, property companies, mortgage lenders? It's comforting to see it going down unless you own the stocks or property behind it I guess:
  13. I imagine in the current credit crunch there's an added impetus to get these properties sold in order to recoup the cash. If there are many of these unsold properties "hiding" in the system and by the sounds of it there are; they may well be spewed out and sold at even lower prices which will provide a sharp shock to the pricing structure. Watch the land registry figures, mind you by the time you see them there it's well past the event.
  14. Here's a few things to consider, please correct me if I'm wrong: CPI is a measure of percentage increase which means prices could continue to rise in a linear fashion but the perentage increase could fall. ie a regular increase of £10 on something originally worth £100 would result in CPI figures of 10%, 9.1%, 8.3% ... To maintain a constant or growing CPI figure, ever larger amounts of money need to be injected into the economy. The falling figure (if true and I have my doubts as well) means the money in the economy is levelling off if not contracting. This would be in line with a credit crunch, combine this with the credit problems the banks on the stock markets were experiencing last week and it's all looking bearish. The banks were suspicious of lending even to themselves and the central banks had to step in. A deflation of prices and contraction of credit means recession. By the time it registers in prices like this, it must be on it's way already? Remember people/businesses still need to pay off their record debts with profit margins that are falling and fuel costs etc rising. I think you could look at this as bearish, even if they drop interest rates? It will just prove the economy is stuffed. If the banks don't want to lend money where are you going to get a mortgage? The Bank of England? Be wary of inflation but be scared of deflation.
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