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TheCountOfNowhere

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Surely they have learned what disaster lies down a house price bubble and the BoE will rise rates soon to curb this lunacy ?

Whack 'em up.

Edited by TheCountOfNowhere

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Surely they have learned what disaster lies down a house price bubble and the BoE will rise rates soon to curb this lunacy ?

Whack 'em up.

Nope. It's just a repeat of 2005, when house prices tried to fall but got propped up by interest rate cuts.

That time it led to the banks going bust. This time we're printing money to stop that happening, and all that money is going straight into housing.

Any historians of the Weimar Republic here? Didn't that end with some kind of reset?

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Surely they have learned what disaster lies down a house price bubble and the BoE will rise rates soon to curb this lunacy ?

Whack 'em up.

Some guy on news just said rates wil rise in early 2010, think he was nationwide guy.?

Also CML have said prices will fall again later in year. Whats to get excited about.

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No Panic here. I am seeing lots of people lossing their jobs and most people agreeing what is happening is nuts.

Houses are the least of my worries now. I'm glad I dont have a house.

I have an open job offer in China and there is work in Europe.

Not sure why anyone would want to buy an over inflated house rght now.

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When flexibility and ability to move to another area for a job is essential - a millstone mortgage is the last thing you need.

It's not just the millstone of the mortgage: I own outright, but the thought of relocating in this fecked up, seized-up market is a nightmare I would like to live without.

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It's all one big bloody mess that I'm thankfull not to be part of right now.

No matter what any official stats say, look at what's happening locally with jobs, stand back at look at the price of houses relative to what people actually earn and can afford to pay and you know house prices, some day, have to fall massively.

Power Mad G Brown wants another 5 years in Power. HGe's destroying the country to try and get it in my opinion.

If Labout win the next election I wont be staying here, there will be nothing left.

Edited by TheCountOfNowhere

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Nope. It's just a repeat of 2005, when house prices tried to fall but got propped up by interest rate cuts.

That time it led to the banks going bust. This time we're printing money to stop that happening, and all that money is going straight into housing.

Any historians of the Weimar Republic here? Didn't that end with some kind of reset?

:):)

especially the bolded bit. ;)

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It's all one big bloody mess that I'm thankfull not to be part of right now.

No matter what any official stats say, look at what's happening locally with jobs, stand back at look at the price of houses relative to what people actually earn and can afford to pay and you know house prices, some day, have to fall massively.

Power Mad G Brown wants another 5 years in Power. HGe's destroying the country to try and get it in my opinion.

If Labout win the next election I wont be staying here, there will be nothing left.

And there in 6 lines is the whole thing summed up perfectly.

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No matter what any official stats say, look at what's happening locally with jobs, stand back at look at the price of houses relative to what people actually earn and can afford to pay and you know house prices, some day, have to fall massively.

I think a correction in real terms is more likely though - people are happy if their house is increasing in value at 13%pa and their wages increasing at 25%pa, but unhappy if (like last year) their wages are static but their house falls 12%.

Both will make houses more affordable in the long run, but the inflationary route keeps everyone happy too.

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Nope. It's just a repeat of 2005, when house prices tried to fall but got propped up by interest rate cuts.

That time it led to the banks going bust. This time we're printing money to stop that happening, and all that money is going straight into housing.

Any historians of the Weimar Republic here? Didn't that end with some kind of reset?

It`s not. If it was, houses wouldn`t be sitting unsold for years? it is going into banks balance sheets to pretend that they/we are not bankrupt.

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I think a correction in real terms is more likely though - people are happy if their house is increasing in value at 13%pa and their wages increasing at 25%pa, but unhappy if (like last year) their wages are static but their house falls 12%.

Both will make houses more affordable in the long run, but the inflationary route keeps everyone happy too.

It doesnt keep the savers happy.

The savers are bieng robbed blind to pay for the banks mistakes.

Then the BBC come up with this: "Debt burden of retirees 'growing' "

http://news.bbc.co.uk/1/hi/business/8224201.stm

I'm not surprised, their savings are being stolen to pay for this mess.

There is a growing aging population, they should vote for whichever party promises to prosecute the banks and restore financial sense to the country.

This cant go on.

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It doesnt keep the savers happy.

The savers are bieng robbed blind to pay for the banks mistakes.

Then the BBC come up with this: "Debt burden of retirees 'growing' "

http://news.bbc.co.uk/1/hi/business/8224201.stm

I'm not surprised, their savings are being stolen to pay for this mess.

There is a growing aging population, they should vote for whichever party promises to prosecute the banks and restore financial sense to the country.

This cant go on.

Old people vote

Merv should put the BoE rate up just 0.5% to 'remind' people. Really I want him to stick it up to 9% for three months before promising to reduce it just to put the fear of God into borrowers.

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