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The Worst Is Over

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I have an awful feeling that a belief is taking hold that by a simple announcement of cuts and 'yeah, we're going to sort it all out', a bit of sunshine and we have hit the return to normal phase. I expect house prices to rise. I have given up thinking that this enormous core problem will EVER be addressed.

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I wouldn't worry; unless they do real stuff the problem will simply get so massive it'll crush the country. I doubt very much whether they will be able to tackle the problem seriously, but this was just the starter; the real cuts begin in the autumn, when we see whether they have it in them for real.

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one runs out of money, paying off credit cards and stuff, the total monthly payout is £200 more than income. the overdraft is maxed.

still, there is another banker that lends you 5K, 36 months.

hooray...return to normal....

you have 1 year.

then the problem is worse.

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one runs out of money, paying off credit cards and stuff, the total monthly payout is £200 more than income. the overdraft is maxed.

still, there is another banker that lends you 5K, 36 months.

hooray...return to normal....

you have 1 year.

then the problem is worse.

Ah, the suicidal return to normal.

Mind you, drove through North London yesterday (Swiss Cottage to Hampstead) and there were a lot of for sale signs on the large detached houses en route, which is unusual...

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one runs out of money, paying off credit cards and stuff, the total monthly payout is £200 more than income. the overdraft is maxed.

still, there is another banker that lends you 5K, 36 months.

hooray...return to normal....

you have 1 year.

then the problem is worse.

it will get better after the holidays!

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it will get better after the holidays!

:lol:

I concur...being on holiday cures lots.

coutrse, buying a holiday with the loan...as people might tend to do...a last blast if you will, means they dont have a year, they have a month.

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:lol:

I concur...being on holiday cures lots.

coutrse, buying a holiday with the loan...as people might tend to do...a last blast if you will, means they dont have a year, they have a month.

I am on holiday all year, I am unemployed, hoorah! Won't be so funny in September.

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I am on holiday all year, I am unemployed, hoorah! Won't be so funny in September.

there is a difference to being on holiday, and being unemployed.

unemployment when you dont want to be is horrible.

I couldnt beleive the miserable sods who got a free holiday and had to suffer a week doing what another family did for a holiday. Holiday swaps I think it was called. moan moan moan.

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The thing is, a lot of people are incredibly positive and optimistic even during the direst of times. A human coping strategy perhaps?

I have a friend with a recruitment business whos enormous positivity saw her the best financial 2 years in 2008-09. Quite unheard of in that sector.

I am still positively dumbfounded though at folks glee at the prospect of house price rises. The short-sightedness is unbelievable. I think I am the only house owner I know who is pretty vociferous about the necessity of house price falls (but only if measures are put into place to massively tax 2nd and subsequent home owners/BTL).

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there is a difference to being on holiday, and being unemployed.

unemployment when you dont want to be is horrible.

I couldnt beleive the miserable sods who got a free holiday and had to suffer a week doing what another family did for a holiday. Holiday swaps I think it was called. moan moan moan.

Ha ha, that gave me a new wrinkle on my forehead, "why on earth?"

Will people still do anything to be on TV?

Mass unemployment does funny things to a country, not all bad...

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The thing is, a lot of people are incredibly positive and optimistic even during the direst of times. A human coping strategy perhaps?

I have a friend with a recruitment business whos enormous positivity saw her the best financial 2 years in 2008-09. Quite unheard of in that sector.

I am still positively dumbfounded though at folks glee at the prospect of house price rises. The short-sightedness is unbelievable. I think I am the only house owner I know who is pretty vociferous about the necessity of house price falls (but only if measures are put into place to massively tax 2nd and subsequent home owners/BTL).

Perhaps house prices just are not high enough for people to realise just what a sham they are. Then they might even contemplate the enormous amount of damage that has been done in the last decade.

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I have an awful feeling that a belief is taking hold that by a simple announcement of cuts and 'yeah, we're going to sort it all out', a bit of sunshine and we have hit the return to normal phase. I expect house prices to rise. I have given up thinking that this enormous core problem will EVER be addressed.

Not round here. Estate agents and sellers alike starting to panic about the amount coming onto the market now. Almost daily phone calls to try and persuade me to join the party and buy something. In comparison to last Summer when I phoned them and they were not interested this is certainly a turn up for the books.

We are getting 50 new houses per day, compared to 50 every three days last year. Supply of new buyers just can't keep up.

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Perhaps house prices just are not high enough for people to realise just what a sham they are. Then they might even contemplate the enormous amount of damage that has been done in the last decade.

Irreprable in my opinion. The hardest thing to change will be the nations sentiment towards high house prices. In a way I get it, as it's more tangible than a pensions statement. But comfort in our old age is to the detriment of our own children for god's sake.

I have no faith that house prices will fall to sustainable levels so even I consider doing a BTL so at least my kids will have somewhere affordable to live when they're adults as I don;t want them living with me forever. They're only babies now, so by the time they reach adulthood the world will be a very different place.

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Irreprable in my opinion. The hardest thing to change will be the nations sentiment towards high house prices. In a way I get it, as it's more tangible than a pensions statement. But comfort in our old age is to the detriment of our own children for god's sake.

I have no faith that house prices will fall to sustainable levels so even I consider doing a BTL so at least my kids will have somewhere affordable to live when they're adults as I don;t want them living with me forever. They're only babies now, so by the time they reach adulthood the world will be a very different place.

It is a deeper problem, if housing costs do not come down life will not be as we currently know it.

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I have an awful feeling that a belief is taking hold that by a simple announcement of cuts and 'yeah, we're going to sort it all out', a bit of sunshine and we have hit the return to normal phase. I expect house prices to rise. I have given up thinking that this enormous core problem will EVER be addressed.

Look, we have been here before, although things were no where near as dire. Cutting hundreds of thousands of jobs results in more benefit payments, less tax income and less spending to boost the private sector.

You cannot talk the problem away.

The pain has not even started yet and it will go on for nearly a decade.

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It is a deeper problem, if housing costs do not come down life will not be as we currently know it.

if there is no money, costs of everything falls.

imports of course, are the exception.

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I wouldn't worry; unless they do real stuff the problem will simply get so massive it'll crush the country. I doubt very much whether they will be able to tackle the problem seriously, but this was just the starter; the real cuts begin in the autumn, when we see whether they have it in them for real.

Collapse first.

Politically it's impossible to change anything before. And of course, there will almost certainly be another election and almost certainly labour will be back in to "fix the problem of tory cuts" once that happens.

There is no political configuration that can solve the social problem of everyone being promised 20 or 30 times more wealth than there actually is. There is no political configuration that can solve the problem of all those badly made plans and ruined futures. The general public and in particular those on the receiving end of public sector largesse will have to find out by experience that the cupboard is bare, they are never going to just believe it because a handful multi millionaires tells them it's so.

And when they find out, rage.

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Guest Steve Cook

Collapse first.

Politically it's impossible to change anything before. And of course, there will almost certainly be another election and almost certainly labour will be back in to "fix the problem of tory cuts" once that happens.

There is no political configuration that can solve the social problem of everyone being promised 20 or 30 times more wealth than there actually is. There is no political configuration that can solve the problem of all those badly made plans and ruined futures. The general public and in particular those on the receiving end of public sector largesse will have to find out by experience that the cupboard is bare, they are never going to just believe it because a handful multi millionaires tells them it's so.

And when they find out, rage.

yes

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Collapse first.

Politically it's impossible to change anything before. And of course, there will almost certainly be another election and almost certainly labour will be back in to "fix the problem of tory cuts" once that happens.

There is no political configuration that can solve the social problem of everyone being promised 20 or 30 times more wealth than there actually is. There is no political configuration that can solve the problem of all those badly made plans and ruined futures. The general public and in particular those on the receiving end of public sector largesse will have to find out by experience that the cupboard is bare, they are never going to just believe it because a handful multi millionaires tells them it's so.

And when they find out, rage.

it doesnt have to be this way. default and some losers is the way.

no bankers of course, will be harmed.

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it doesnt have to be this way. default and some losers is the way.

no bankers of course, will be harmed.

Some bankers, yesterday:

kitten_basket.jpg

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I think that many folk believe the 6Bn cuts are/were all that are needed. I see rich boy Rose says all's OK as M&S made a few bob this year. The cuts come next year. Why do journalists ignore that? (Oh yes to scapegoat Brown). Prior to the election all three parties agreed that the bulk of the cuts come in 2011 and the then government started the process. There are, I believe, about 34Bn cuts scheduled in by the previous government starting 2011. The argument was whether or not to get a token cut in before that to please the financial community. In the end Brown lost and we have the present set up (not altogether a bad outcome IMO). The TOKEN cut of 6Bn makes zero difference to the problem but it "shows willing".

The collapse of the banking system due to massive fraud and systemic corruption will cost far more than any national government can afford. To get back to "normal" might take 15-20 years and during that time taxes up, spending down, low IR for savers, high IR for borrowers. For example UK banks have written off 300Bn in bad debt, whereas the UK government has "printed" a mere 200Bn to replace it. The transference of debt from the bank to the public is bad enough but the fact there is still a gargantuan sum to find suggests to me that the pain has not even started, never mind "worst is over" nonsense.

I have repeated given my view that UK house prices will halve. I am beginning to wonder if that is somewhat optimistic (as in they will fall much more).

The issue is whether or not prices deflate gently (the so-called "soft landing") or whether there is a tumultuous "event". The event looks more and more likely driven by the general EU problems. I would like to believe in the soft landing, but it looks impossible if one takes a realistic view of the situations in Spain and Eire.

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it doesnt have to be this way. default and some losers is the way.

no bankers of course, will be harmed.

They are going to engineer the appearance of that, but forget about it actually happening. The numbers are too big and the lies and promises about the future are way too large.

They might even do a controlled demolition of a bank, you never know.

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I have an awful feeling that a belief is taking hold that by a simple announcement of cuts and 'yeah, we're going to sort it all out', a bit of sunshine and we have hit the return to normal phase. I expect house prices to rise. I have given up thinking that this enormous core problem will EVER be addressed.

The market says no:

Sterling tanking this morning: 1.42842

Stocks already down by a huge amount: FTSE 100 4925.82-2.84%

Gold plunge of more than $250 in the last 15 minutes*

Looking good for a massive correction in the world's most overvalued housing market! Looking reeeeeal good.

*Just kidding, but the goldbugs must be getting nervous with all the deflation news being cast wantonly about.

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The market says no:

Sterling tanking this morning: 1.42842

Stocks already down by a huge amount: FTSE 100 4925.82-2.84%

Gold plunge of more than $250 in the last 15 minutes*

Looking good for a massive correction in the world's most overvalued housing market! Looking reeeeeal good.

*Just kidding, but the goldbugs must be getting nervous with all the deflation news being cast wantonly about.

Given the sources of said deflation lies, I doubt it.

Gold is going down because it's just as tied to the FRB system as anything else. Bankers have promised 20 or 30 times too much of it to people, just like they have don with everything else.

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  • 189 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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