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tenroom

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Posts posted by tenroom

  1. Anyway, anybody got any tips on how to deal with this one?!

    Heeeeeeeelp!

    Yep . . .

    Stand up straight, roughly 24 inches or so in front of the missus, with your feet about shoulder width apart

    Take one step forward with your right foot and place your weight on it.

    Hold your right hand in front of your left shoulder with your palm facing inwards.

    Now, with gusto, bring your hand from the left shoulder to the other side of your body in an arc ensuring that, on its journey, it connects squarely with your bint's cheek/jaw. It is best to carry the motion through - rather like a tennis backhand - as this demonstrates that you ain't playin' and that if she raises the subject again, thee's plenty more where that came from . . .

    Problem solved . . .

    :lol:

  2. http://uk.reuters.com/article/businessNews...842586220070420
    Debt pile unlikely to topple
    Fri Apr 20, 2007 6:17AM BST
    LONDON (Reuters) - Domestic interest rates would need to rise to 8.5 percent for the cost of debt servicing as a proportion of national income to hit levels seen in 1990, when the economy tipped into recession, new research shows.
    The study from Alliance and Leicester reveals the
    economy may be becoming more immune to interest rate changes
    as people cut back on credit card borrowing and increasingly opt for fixed rather than variable-rate mortgages.
    The findings have resonance after this week's shock inflation figures prompted a scramble to bet on higher interest rates.

    A&L are right to a large extent. IR hikes have zero effect in a miracle economy as the expansion of credit immunises the system from the shock.

    However, if the BoE move from accommodative to restrictive IR policy the picture will change. Credit must be restricted to bring inflation down and I suspect Merv may be waking up to this at long last. But, Gordon will have to go first before Merv has the freedom to fulfil the remit.

    Firstly, if interest rates really have no tangible effect in a miracle economy, why are your cohorts continually clamouring for them to be increased and slating the MPC each time they're left unchanged ?

    The tightening of credit has nowhere near as much of an effect on inflation as fuel and utility prices. The banks don't have an incentive to tighten lending criteria because they don't have a big arrears and repo problem. The BoE simply aren't motivated to take an aggressive stance with inflation. They don't have a VI in a house price collapse and if any of us are being honest, very few people do

  3. True, it would be a bit like a scientist saying, i told you so, when the next giant meteorite hits earth, but after years of waiting you cant blame us for being up-beat about it (house price crash, not the meteor) after all, i for one would like to be able to buy a house some day and finaly, i can see that day is getting closer.

    I don't think the correction is going to be the great leveller y'all think it is. I get the feeling that some bears really do expect prices to halve but - I'm sorry - That's not likely to happen unless there is a huge rise in unemployment and interest rates at over 9%.

  4. Yes, we have been wrong and will continue to be wrong until we are right.

    And you know what . . . ? There's nothing wrong with that. I just wish the bears would preach their gospel without the soothsayer factor cos the jig's up - everyone knows they've been getting it wrong for years . . . none of 'em are going to be able to rock up on the day of the first "House prices in FULL reverse" newspaper headline and say "Told ya. I was right all along".

  5. You crasheeple aren't half dim sometimes . . . You actually believe that lenders are going to pull fixed rates and then that's it . . the market crashes, don't you ?? They'll just replace them with ever-so-slightly more expensive ones. That's how it's always been done . . . they know they'll be able to re-launch the FRM deals and still be able to get punters through the door.

    Stop listening to the RBs and Oldies . . . they're fooling you.

    Go out . . . spend on tat, dine like Kings for tomorrow, we DIE

  6. So the Bears have been out of the market all the time have they...and those that sold since 2004 in the provinces should be kicking themselves that they sold too early like me in Nottingham where property has been YOY minus 2%.

    But Nottingham is a shit hole . . .

    Most people who followed bear "wisdom" :lol: and sold up in '04/'05 have gotta be kickin' themselves . . .

  7. You havn't presented anything to suggest that the economic conditions TODAY are going to benefit HPI? (apart from the usual dim witted abuse).

    If you trust the economic incompetence of others and not bother to research issues yourself then you fully deserve all that you get and is coming your way.

    DYOR no1 rule to investing (that includes housing)

    My God you're smug aren't you ? Why on earth would I present current evidence that benefits HPI - I clearly said I believe the market will correct. I just don't believe that sub-prime will be the detonator in the UK.

    As for trusting the (in)competence of others, what on earth could you possibly know about my circumstances ? As if I need your patronising, cliched life-coaching acronym straight out of a cheap US advertorial . . ."DYOR" :lol:

    Not everyone sees housing as an investment - it also makes for great shelter . . .

  8. How does a child learn his/her tables?

    Right. <_<

    erm . . . we're not kids any more RB.

    As for bulls clutching at straws, who says I'm a bull ? I believe the market will correct but I didn't believe the bear fools when they said it was happening in '05 and while I believe it will start this year or early next, I do not believe that our housing market and that of the Americans is as inextricably linked as the flawed logic of a few saddos desperate to be proven right after being wrong for so long would have us believe and do not see subprime as being the Holy Grail

    Anyone who'd listened to these gimps and STRed or held off buying in '04/'05 will be significantly out of pocket or even more priced out than ever. They can berate the MPC, ONS, VIs etc all they bloody well like but when it all comes down to it, I respect the economic savvy of economists and not the maverick repetitions of a few rank amateurs

  9. RB and the Oldie . . . partners in utter bo11ox. The FTSE drifts down .75% and that's it . . . conclusive proof that it's all going Pete Tong ??

    If I'd a pound for every mickey-mouse indicator you two and your fellow armchair economists conjure up between you, I'd be able to buy that 2 bed penthouse flat overlooking the Portobello Road I've been hankering after for the last few years for cash.

    Ooh . . . hang on . . . the FTSE just lost another 0.00000002% . . . . batten down the hatches, stock up on tinned food, bottled water and antibiotics . . . could get messy . . . :lol:

  10. I keep hearing this.

    Many locked out buyers have been waiting for so long that their deposits have now swollen larger than an elephants scrotum, so humungus credit isn't necessary.

    So you think that the gulf between what prices are now and what these priced-outs would need prices to come down to will simply vanish overnight. They're still going to have to wait for at least 2-3 years before their "huge" deposits are enough of a buffer for the embattled and newly-cautious lenders to grant them mortgages . . . . especially if said lenders return to the long dead 3 + 1 income multiples the bears have been mourning forever :lol:

  11. Really? Examples of vitriol towards people buying a home on this site, please, to back this up.

    I see plenty of debates with people claiming to have bought recently, but that seems to be more a case of these buyers proposing that everyone else who's not bought is simply a spendthrift wastrel who can't be bothered to put the effort in to chain themselves to a hovel, but never gripes with people who choose to buy. Or am I wrong?

    P.

    That's the mother of all daft challenges. The phrase "sheeple" was coined on this forum as a derogatory term for those who've bought within the last couple of years. I've read numerous posts on this forum baying for the blood of anyone who's gone out and - rightly or wrongly - borrowed a ridiculous amount of money to buy a property. "Never mind - not long till the tossers get repossessed !" or variations on the theme permeate most threads on this board so please don't tell me there's no vitriol towards homebuyers.

  12. The choice wasn't between:

    1) a recession

    2) no recession

    The choice was between:

    1) a recession now

    2) a bigger recession/depression later

    Marc Faber recently said he believes that Greenspan & Bernake will go down as the worst central bankers in history

    If that recession was going to be as a result of the dotcom boom per se then they'd probably have let it happen. Throw in the unknown ramifications of the most spectacular terrorist attack ever and things look a little more uncertain. Hindsight's great though ain't it <_<

  13. . . . and yes, personally I do believe that if a government and its central bank conspire to trick its population to enter into massive debt over and overinflated asset then I think that they should be held accountable.

    Or do you think that it is cool that your government should try to decieve you? hell it didn't work on me..but a government is there to protect the weak to.

    Protect the weak ??!! I presume you refer to individuals who simply couldn'tsay no to interest free credit, cheap loans for consumer goods, cheap mortgages on cheap property, gadgets, satellite tv, 4X4s, Prada luxury goods ? <_<

    All those "weak" people, eh ? All those twisted arms . . .

    You make it sound as if Gordon Brown called up the BoE and told them what to do with interest rates. I prefer not to subscribe to every conspiracy theory that permeates this board not, you understand, because I want to bury my head in the sand, but because sometimes the simplest explanation is the truth.

    Eddie george had a job to do. He did it. He and, I suspect, Greenspan had no idea whatsoever of how to deal with the fallout from an event the likes of which nobody had ever seen. The finacial markets went into meltdown post 9/11. It was a choice between a hugely damaging recession and probable depression or the stimulation of the economy. I would've chosen the latter given markets were still reeling from dotcom.

    Letting things run on beyond 2005 when sentiment was turning was a mistake but that's history now. Still don't think the story should be pinned.

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