FabulousSophie

Well, the FTSE 100 closed down 2.24% today. And the DOW is also headed down 1.75% so far.

Can people keep a lookout on the LL websites for any reaction? I'd love to see how they take it.

By undermining the process, all I expect the Nimbys ultimately often achieve is the worse kind of development - far worse than if they had engaged sensibly. It's similar to the process of leaving the EU. Hardline remainers trying to stop Brexit dead by undermining negotiations could actually end up achieving a really bad deal or no deal at all.

Down 25% today!!!

I found the anti-development crowd were more sophisticated than that in their methods to undermine development, and they will usually be supported by whichever party is in opposition on a council, be it Tory or Labour, and will use the process to prevent any consensus from forming.

This is what I found when I was involved in a series of community workshops in London. The workshops were infiltrated by hardline anti-development people, who were not interested in helping shape a great scheme. They pretended to be pro-development, but were really only interested in covertly using the process to sabotage the process, so that it failed.

It makes me laugh that they want to offer below market rental rates, but they want people to pay 'at market' purchase rates, using cheap government loans. They have accepted the principle that market rates can be undercut by government, so why not forget about the cheap loans, and just give buyers a discount on the selling price to make the properties more affordable?

A million new houses should be built just for workers under 40 to unlock home ownership for Generation Rent, urges Theresa May’s former adviser https://www.thesun.co.uk/news/6613499/a-million-new-houses-should-be-built-just-for-workers-under-40-to-unlock-home-ownership-for-generation-rent-urges-theresa-mays-former-adviser/ The 500k homes for rent at up to 20% market discounts would undercut a lot of private landlords, and help stop them just raising the rents. But the 'stepladder loans' sound quite dodgy - more HTB by another name.

It's why you should always make an offer in writing and copy in the seller, if possible. Or better still, make it direct to the seller, and cut out the EA.

I don't know. I suppose people vote with their wallets (or mortgage accounts) on which they think is the best seaside town. It looks like Sandbanks in Poole wins by that measure; and there is also Rock in Cornwall, which I have a feeling is also is very very very very expensive.

Some more unintended consequences of rampant house price inflation. The government and journalists must be getting an inkling by now that booming prices have some downsides too (sarcasm intended): Stamp duty revenues plunge as housing market freezes https://www.telegraph.co.uk/business/2018/06/23/stamp-duty-revenues-plunge-housing-market-freezes/#comments

With this extra vote, they were able to give the impression they are getting tough without actually doing anything in reality. The new tougher impression may now give them extra time in which not to get tough.

Presumably less nice holiday places now also need to fall by 8.2% to compete.

True, maybe it was just this meeting that was choreographed, to put a mild hint of 'action' behind the unreliable boyfriend's words. After all, it was a BoE insider who gave the extra vote, maybe to give his boss a touch of sorely needed credibility.

The voting at these meetings is probably choreographed. They no doubt decide together how many and who is going to vote each way at the meeting, to present the impression they want to give publicly.

Troll ?

Sounds like a great defence of groupthink. On that definition, someone who calls someone a troll could be described as a troll if they upset someone by calling them a troll.

Opinions on internet forums like this will do little or nothing to affect globalisation or the mega-flows of capital and liquidity around the world, which seem to be the main determinants of long term changes in asset prices. Thankfully, not even Mark Carney's opinions will change those in the UK, beyond the short term. Which is why EAs and other VIs etc trying to talk up prices in the media may be fighting a losing battle and wasting their breath.

I am not sure what you mean by 'troll' and 'trolling'? The words are bandied about with such abandon on the internet that they are meaningless. Is it a catch-all insult for anyone who says anything that anyone might disagree with?

Nothing, absolutely nothing, written here will have the slightest impact on the macro-economic future of house prices. Even if people here are trying to talk up prices (which I am most certainly not), they are completely wasting their time. It will make no difference to the future, whatsoever. And the same goes for anyone who thinks talking prices down here will impact the future. It will make no difference whatsoever to the macro-economic picture. The only thing this form provides for me is a place to sift out snippets and opinions that may be useful in predicting what will happen in future. For some it is probably a social or political outlet. But it is pushing the Butterfly Effect theory to its limits to believe anything written on HPC forum could change the future.

I am sorry that I have disappointed you, which in a very English sense means worse than angry. It was so very disrespectful of me to make the fatal error of mis-considering a thread on this internet forum. I fully understand that you have a right to have those very strong feelings about my fears for HPI, to the extent that you reacted intensely like you did. But for my sake, please try in future to temper the uncontrollable feelings you get.

I am sorry that my oversight has made you so upset and angry with me. From your reaction, you have indeed convinced me that I need to be severely punished for my terrible, heinous crime, and that insulting me as a troll is not sufficient punishment. I will submit myself to anything you demand. How would you like to punish me?

"Specifically chose"? Would it ever cross your mind that sometimes people do not read or consider topic titles very closely, especially if they are in a rush or something. I did not realise it is a capital crime in the eyes of HPCers. I am really really sorry that I got the wrong thread, please punish me severely for such a grievous misdemeanour. Please forgive me for my fault, my most grievous fault.

Yes, I simply quoted a headline to discuss. I am so very sorry. Please forgive me for such a terrible crime. It is strange world where an action like that deserves vicious insults and accusations.

Thank you. This describes my feelings exactly, and better than I could describe.