Smell the Fear
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Find Member's Posts Today, 04:22 PM Post #28
HPC Senior Veteran
Joined: 17-May 05
Member No.: 1,936
Bull or Bear? Bull
Does anyone know what house price multiples are like in other "unequal" societies around the world (for this is where the UK is heading). I suspect in places like India, Russia and Brazil they maintain huge multiples of average salary due to most of the population being dirt poor, living many wage-earners to a house and devoting a very large proportion of their income to keeping a roof over their head. As this is the sort of place the UK is fast becoming I think that these countries give the best prediction of where we are headed.
I have had a look on t'internet but can't find any data on this. Does anyone know if this is true or not?
This post has been edited by Smell the Fear: Today, 04:23 PM
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I lived in Hungary for quite a few years first arrived there in about 1993. At that point I found it very appealing because it had avoided the globalisation pitfalls we see everywhere today 14 years later. I am not saying they had, had a great time through Russian occupation until 1986. But when people wanted to move they sold a house and moved. If you wanted to buy a house you walked around the town and looked for home made notes in the window Ez a Haz Elado...this house is for sale. No esate agents. Also borowing money to buy a house was unknown you would just pay in cash. No mortgages.
By the time I left around 2000 things had completly changed. Most of what I had liked was dissapering, didnt take long for the western financiers and marketers to get there influence across.
Borrowing money to buy a home was becoming the norm.....so what do you think that did to house prices??? Exactly the more you could borrow and the easier the credit the more the price of the house. Its a no brainer this is the same as the UK borrow more, the seller knows and sells for more. The only person who is winnning is the bank, once this kind of stuff starts to happpen. Example well done Neuro you can borrow this much for Each £1 you borrow you only need to pay back £2.12 over 25 years ....fact from quote last week. Banks are worse than the mafia. Well its all about credit slavery and control but dont want to get too heavy.
As well as this at the time town not city area properties were all detached and had good sized gardens. It was possibe to grow fruit / vegtables make wine and preserves for the winter and keep chickens for eggs or meat, as well as a couple of pigs...of which nothing was wasted come slaugher time. If poster Dom reads this would love to hear your ideas on taking over land building for a agri survival project.
Once again by 2000 things were begining to change.....young people taking out loans / mortgages and say no I would rather go to Tesco than spend an hour or 2 in the garden to save some cash and eat a better quality of food.
Ok lets move on 2006.
Moldova for the general public estate agents dont exist its all done through word of mouth and free add type newspapers.
If you see something you would like you go along and buy it ...Yes pay cash ...Buy it...!!! Unbelievable for all you credit junkies I know. But properties are affordable and you have the cash to buy it!
Please dont think that the countries you mentioned will ever achieve the quality of life we saw in this country 15 years ago or so. What is going on is for the first world to meet the 3 world !! America is well on the way to this already..
So to summersie these countries you sniff at were in a much better position but our fiendly ( Rothschild et al ) banking buddies are slowly spreading their influence to bring about global control and the end of common sense and market prices.
And I disagree we offer them the best indication of where they are heading......we are the test...