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House Price Crash Forum


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About sims

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    HPC Poster
  1. Not really. Every time someone trots out the line about banks being given the power to create money and any money they lend being created out of thin air by them, it becomes obvious they don't have any idea how fractional reserve banking actually works.
  2. Massive misquoting here. The proposal is for any countries that want jointly funded EU bailout loans to pledge real assets such as gold as collateral against these loans, should they default on them. No change of ownership let alone outright sale involved unless an actual default on bonds that don't even exist yet occurs. And in any case, this proposal is at little more than a trial balloon stage at the moment and months if not years from implementation, if it ever happens.
  3. What it means is that the volume of sales in more expensive boroughs increased compared to sales in cheaper boroughs.. so the overall London-wide was skewed upwards as a result. Ironically, we had exactly the opposite effect in the march report - with the London average being quite negative and below the values of all borough averages. Easiest explanation would be that many purchases in the the 125k-250k bracket (which only exist in some boroughs) were pulled forward from April to March, skewing the average down in March and up in April.
  4. It doesn't. This change is an instance of 'oh amazing, we found a group of unpopular people, noone is going to complain if we tax them more'.
  5. Yep, there are several rather nice residential areas in central London, although obviously nowadays they're too expensive for anyone apart from very rich people.
  6. Houses have been built on fields for millennia, can't see what's wrong with it. Most cities tend to grow, legislating against it won't stop it, but just lead to bizarre house prices.
  7. But but but.. I thought people on HPC want affordable home prices. It appears Spain has achieved that goal.
  8. And David Cameron leads a party that gets twice as many votes, so does that mean he's even more qualified according to your argument? Now back in reality, you'll find politicians will say whatever they think gets them the most votes from their electorate, so it's generally wise to take whatever they say with a pinch of salt.
  9. And his point is? He's basically continually ranting about the EU being the root of all evil and doomed. The is not particularly surprising because he's head of a single-issue party, but doesn't make him uniquely qualified to talk about anything in particular.
  10. Yeah, if the UK had joined the Euro, the 4-day week-end would be the ideal opportunity to leave, err..
  11. This sounds like a great way of creating loads of additional public sector jobs providing 'treatment' for addiction.
  12. Too bad gold is not the most liquid asset - which is still cash. Have you ever tried to buy anything with gold? You'll find it's not that easy. Of course you can dream of a new time when gold is used as currency again, but whether that will ever happen is anyone's guess.
  13. Big wall of text, but can I summarise it as. As usual, according to zerohedge, the world is going to end shortly.
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