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House Price Crash Forum

TrevorS

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About TrevorS

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    HPC Regular
  1. The US took their medicine fast. Would be interesting to see the UK added to the chart.
  2. House prices are sticky. It can years for effects to wear off.
  3. Government agencies now account for 90 percent of the mortgages issued in the United States. We have a lot of catching up to do.
  4. Don't forget business rates. A recent survey of small businesses found almost 1 in 7 paid rates equal to or greater than their rent.
  5. They worked hard. All their lives. Paid their taxes. And never even bought an iPod.
  6. Maybe not, but I don't think it would remain at the current £1m per acre with PP for very long either.
  7. Adam Smith: "People of the same trade seldom meet together, even for merriment and diversion, but the conversation ends in a conspiracy against the public, or in some contrivance to raise prices. It is impossible indeed to prevent such meetings, by any law which either could be executed, or would be consistent with liberty or justice. But though the law cannot hinder people of the same trade from sometimes assembling together, it ought to do nothing to facilitate such assemblies; much less to render them necessary." Published in 1776. Fresh as paint.
  8. Partly depends how leveraged they are. Plus there are no doubt "greater fools" out there who will be drawn in by London property becoming cheaper again, especially if sterling depreciation outpaces PCL HP inflation.
  9. An economist's "model" (we know how good those are), driven by difficult-to-quantify and/or subjective inputs. Which only includes a single completed boom/bust cycle. Nice bit of headline-grabbing though. Comparing London against national measures has becoming increasingly irrelevant as the world has shrunk. It's peers are to be found elsewhere in the global village.
  10. Yes he does seem to have taken up the banner. I don't think he will be asked to pen guest columns on the Telegraph again after this
  11. Yep. People used to look down their noses at Japanese stuff. They didn't realise they were moving up the curve. By the time they did, it was too late. I see the same attitudes to China today.
  12. Not implausible. Hester was pushed by Osborne for either crossing or failing to cross some line or other.
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