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House Price Crash Forum


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Everything posted by IMHAL

  1. I assue you - what is being done now is a road paved with good intentions..
  2. Down, down and further down the rabbit hole we go.... Once the printing starts the markets get more and more distorted. Eventually there is no telling what is good and what is bad - then no amount of good intentions can put humpty back together again. Sorry, run out of childrens stories to continue....
  3. Short of a Labotomy I suggest that they would need to be kicked out of office, probably at the next general election. However, democracy is a funny thing - if enough people have a vested interest in house prices remaining high then their unstated policy might just keep them in. In which case FTB's, children etc will become a second class citizen - that is until everyone who does not have a stake in the game decides to leave.
  4. No - I think he's just a bit late out of hibernation coz its a bit nippy still
  5. Don't panick! Don't panick! We're all doomed I tell ye. Don't worry - even those who when they have had a moment to calm down will be back to reality soon enough when the sh1t continues to hit the fan. The denial is strong but reality is stronger.
  6. Snap out of it Slumpers! The market has always behaved this way on its downward trajectory. It goes down then there is a moment of light quickly followed by more dark clouds. Whats more, as the slump continues, there will be a wider and wider selection of houses to choose from, one that will suit you. You may not be able to wait until the market bottoms but at least wait until much more stuff finds its way into the market - then at least you may have over paid but you will be getting something you want. Do not be fooled by this moment of 'light'.
  7. You wish! House prices will be the least of peoples worries by the time this episode is fully played out. There will be a point in time when governments are forced to confront the issue - that will come sooner rather than later. They will all capitulate as markets become more and more distorted through intervention leading to protectionism. The jobless will grow as more capital is thrown at unprofitable folly organisation - no one in their right minds is going to force house prices higher in this environment - they are pushing on a limp strand of spagetti.
  8. Agreed - this could be big in that it signals that the gov has reached the end of its capacity to spend. If we see another so called big spend project suspended in the next month then we will know that a limit has been breached. Capitulation then cannot be far off as the masses realise that there will be no money to keep proping up failures and austerity beckons.
  9. It's what Labour do - its called subtle undermining - first raise doubts in prelude to outright personal attacks on the character of said person. Labour are the most underhanded and dirty fighters of the lot. They want to continue spending even when the coffers are empty and they will stop at nothing. Merv threw them a bit of a fatal blow and they are just now rousing, dazed and trying to figure out how to turn the situation around. This time however Merv told them a truth - the market will crusify you if you carry on - they cannot bully a market.
  10. You got to look past the shmoozing, charm and compliments - what they are actually saying is that they want global regulation now - something that Obama and Brown oppose, because it would put paid to their easing and debasement antics.
  11. You are sounding more and more like..... Gordon Brown. People always want stuff - people can be creative and provide things that no manner of automation can achieve. You are, as a better man than me so aptley put a, Breshnev era prophet.
  12. And what would those be? As an individual borrow as much as you can, as a lender lend as much as you can. Both, never consider that you may never be able to afford it or pay it back, or have it paid back. Always look to the tax payer to bail you out, or the next government to clean up your mess. Don't think about how miserable you make life in the future or how people will suffer because they cannot put a roof over their heads - just look after yourself and to hell with the future and anyone else. I can see what his shared rules and values are and they are sh1t. As they say, look at the actions and not the words, especially with politicians
  13. Liam was talking sense - he knows whats coming down the line and he knows that politicians and economists tied to politicians are lying. Ruth Kelly is either stupid (doubt it) or is deliberately muddying the waters and plain lying. The other economist was actually agreeing with Liam on the outcome but saying it in econo'speak. Neither Ruth nor the economist wanted to engage in the Glass Stegall proposal because it would destroy their quest for debasement of currency. I wish someone would take Gordon and his Mugabe economics far away from this land - he should go to Zimbabwe for a visit to see what effect his policies lead to.
  14. You are right - too early - we still have capitulation to take place. Even the money men are starting to realise that it will be foolish to bail out via inflation alone. They will need to see the running costs of the country come down. That means lower cost base in terms of housing and public spend. When the power brokers give up bailing is when we will see the denial phase end - then I expect the asking prices will start to reflect reality and also when people start to accept that the economy cannot run on rising house prices alone. The power brokers know that if they bail too much then the economy will return to the unproductive HPI and spend - they are looking for a productive way out without causing a panick. I see the bottom as 2013 with a few years after that bumping along the bottom - the mania with HPI needs to stop so that people can start to build real competitiveness.
  15. Hand -> Face. What has happened is that the politicians have been complicit in feathering their own nests and in helping the rich do the same. The service spending you talk about is no more or less than bribery for votes and idiocy that will cost us dear.
  16. All but those employed in the public sector would agree - so its just not worth talking about because turkeys don't vote for xmas so no point trying to get them to vote. The public sector will be scaled back when the issue becomes of threat to the jobs of the politicians or we go broke and have discipline enforced..
  17. Yep - you are right. The only resolution is to go broke and then run to the IMF - that will be a forced fix. No arguements.
  18. Nor is it something that the well off in the public sector has to worry about either - middle and high ranking public servants fit this bill. Regarding the class divide - it seems to me that the middle classes are increasingly having to pay for an incentivised none working / can't work / don't want to work class. I might also add that another class - that of the superfluous public sector worker who is not really needed nor affordable is an increasing social group worth including in this as they are quite highly paid. You can't get rid of the rich, nor do you want to - they are the engines of the world. So long as they are taxed appropriatly and the money is spent wisely then things should work quite well. From what I have seen the money has been mis-spent on increasing bloating up the public sector and this is now a drain on the rest of society.
  19. This must be where the pain is being shared between the public and private sector - public sector wages up over 3% and private sector wages down by over 3%. Its a good job the public sector has a nice lil pension plan to make up for there deserved wages.
  20. How does the pain get shared out equitably? The private sector has had their pensions stuffed in oblivion whilst the public sector enjoys gold plated pensions and increasingly on par pay with the private sector. I agree that its hard to renege on current obligations but at the same time the current chasm between public and private sector liabilities is a major concern that is just not fundable. What do you propose is taken away from the private sector in this grand sharing of pain? Also if the pain is shared then the chasm between public and private will remain which still has the effect of crowding out the private sector. To my view a significant part of the public sector have seen pay and conditions rise substantially over the last ten years and the private sector have stagnated and or diminished - its going to be harder to motivate them to pay for these services.
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