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Malthus

Calm Before The Storm

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These things take time, it will be another year or two till things settle down.

We still have NAMA to look forward too, and well as more and more developers and landlords going to the wall.

I would say we are only in act 2 of this 4 part tragedy ;)

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I was thinking GE too. The banks and gov't are doing everything they can to avoid the firesale.

The only other thing is a sniff of more bank problems hidden in the accounts, eg commercial property, fraud etc.

How long can they hold out? It worries me that they have found a way of doing this indefinitely until the country goes completely bust.

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Haven't you been reading the headlines?If people are expecting a quick crash, think again.

That's what makes me think something big is on the way , these headlines will go into history's dustbin along with :

" No more boom and bust "

" Gordon the prudent chancellor "

" House prices on only ever go up "

edit

ps I see there is a similar thread on the news blog , great minds and all that

Edited by Malthus

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People who do not understand economics, expect the housing market to 'return to normal' and house prices to go back up. History shows that the housing market will 'return to normal' and house prices will go back down.

This is only a temporary pause in the 'return to normal'. ;)

Edited by Belfast Boy

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We still have NAMA to look forward too, and well as more and more developers and landlords going to the wall.

NAMA is kind of like a perverse hedge fund. Similar in the respect that it's highly opaque, leveraged to the hilt and full of all sort of toxic assets. It's different insofar as rather than making money quickly, its aim is to lose money slowly. The key word being slowly.

I predict that it will dispose of its last assets in a decade, if we're lucky.

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Only moving up to the next drop on the big dipper. We should get there by the end of september start of october which should give us HPCers another thrill 'till Crimbo. A little lull 'till after the GE then it's hold on to your keks time.

Inflation should be filtering through by next spring which should prompt some upward moves in IRs. Anyone that has managed to hold on 'till then, sorry, not managed to sell by then and has a sizeable mortgage will be hitting the panic phase by the end of the year.

2011 could signal capitulation.

I think things are chugging along just nicely. -_-

Edited by headmelter

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I got the Bank of England Inflation Report yesterday - predicts inflation at the end of 2010 to be in the range of -1% to +3%.

Not much room for error there....

Don't worry these type of estimates are regularly updated could end up anywhere in the -10 % to + 10% range :ph34r:

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Don't worry these type of estimates are regularly updated could end up anywhere in the -10 % to + 10% range :ph34r:

It has to be said, I'm looking forward to further drops in the market (not for the sake of the poor people in the market who were deluded by bankers and EAs.) Prices need to be a lot more realistic, as in FTB properties should be starting of at a max on £70k ish. I also think that the middle section in the market hasn't dropped enough. When it does I'll be looking forward to moving but in the meantime I'm happy to hold tight.

I can afford my house to drop another £100k if need be (doubt that's like to happen since it's only worth £135k as it is, and that's way overvalued. I'd estimate it should only be £85/£90k!) Roll on the drops. :ph34r:

Edited by southantrim3

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