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justanewbie

Spin, Spin, Spin ... Crash, Crash, Crash

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The Government, Economists and Vested Interests know what the

result of a real, sustained and substantial crash will be ....

economic disaster for this country and others.

The Global Crash would be catastrophic.

Their reaction is to chase the crash away with talk -

convincing everyone that all is well, all will be well and

that the economy is strong.

Politicians and salespersons live on words and live on continual

bonhomie, upbeat talk and continual, unfailing, unnerving

confidence.

The closer the crash bites, the more they will spin.

And I notice that the spin has recently become more confident

and more voluminous - exactly in time with a substantial

downturn in sales volume and FTB content.

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Like the boy-who-cried-wolf, the Vested Interests that proclaim again and

again that a recovery-is-about-to-start will not be believed after a period of time.

There credibility was always suspect, but became better after 10 years of rising

market, and 5 years of rapidly rising market.  It will go back to disbelief soon

I only need to drive round the streets, the for sale/to let boards speak louder then any politician or bank can about the state of the market.

:)

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We are seeing a slow insiduous drop in property prices which shows no signs of abating for many years.

In my opinion this is the worst type of drop,rather than a sharp correction.

A comparable is the fall in the FTSE and Dow Jones indices in London and New York respectively, over the past few days.

I have seen no mention of the value that has been wiped off shares comprising the indices as indeed we see no value wiped off property prices.

When oil hits $80 per barrel even the Blair Broadcasting Corporation will be hard pressed to put a spin on the crash.

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Watch out, here I come

You spin me right round, baby

All I know is that to me

You look like you're lots of fun

Open up your lovin' arms

I want some, want some

I set my sights on you

(And no one else will do)

And I, I've got to have my way now, baby

I, I got to be your friend now, baby

And I would like to move in just a little bit closer

You spin me right round, baby

Right round like a record, baby

Right round, round, round

you get the gist..

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I do not think a property crash will result in economic global or national disaster. It will result, temporarily, in many people who have speculated on a perpetual rising market being burnt, but that does not make it a global disaster.

Houses will still be there, and people will still live in them. Goods and services will still be available. If an entire economy relied solely on the cost of housing then it wasn't a very solid economy in the first place.

I recognise there will be some unemployment, but not on the disastrous scale some predict.

It is actually part of the hype and spin of Vest Interest to spread the paranoia that housing crash equals general crash. We are all being frightened into propping up the ludicrous property myth because of the paranoia being spread.

Throughout industrial history vested interests have tried to spread fears which in the long term have proved completely misguided:

Abolishing child labour will cause the collapse of British Industry

The minimum wage will create mass unemployment

Only privatised transport can be efficient

The economy needs booming property to survive

Just a few examples of VI pronouncements which are without any doubt proven to be wrong.

Quite the opposite to being frightened of a house price crash, we need one, and the principle advantage of having one is that it will start focussing minds on creating real wealth. It will divert investment away from assets which don't actually produce real wealth into endeavours which do. It will also release an awful lot of money which is better invested in tangible production, goods and services rather than tying up huge amounts in static objects which by themselves contribute zero to a flourishing economy.

VP

Edited by VacantPossession

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Quite the opposite to being frightened of a house price crash, we need one, and the principle advantage of having one is that it will start focussing minds on creating real wealth. It will divert investment away from assets which don't actually produce real wealth into endeavours which do. It will also release an awful lot of money which is better invested in tangible production, goods and services rather than tying up huge amounts in static objects which by themselves contribute zero to a flourishing economy.

Brilliantly put.

The UK 'economy' is represented by nothing more than grossly inflated property prices (which has created a massive debt bubble) and a credit card binge on imported goods which has added yet more fuel to the flames.

Our economy amounts to little more than taking in each others washing, adding not one penny to UK's real wealth.

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Brilliantly put.

The UK 'economy' is represented by nothing more than grossly inflated property prices (which has created a massive debt bubble) and a credit card binge on imported goods which has added yet more fuel to the flames.

Our economy amounts to little more than taking in each others washing, adding not one penny to UK's real wealth.

Thank you...and agreed.

VP

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Brilliantly put.

The UK 'economy' is represented by nothing more than grossly inflated property prices (which has created a massive debt bubble) and a credit card binge on imported goods which has added yet more fuel to the flames.

Our economy amounts to little more than taking in each others washing, adding not one penny to UK's real wealth.

Yup and the washing machines are now coming from China.

Then it'll be a Chinese bank lending you the money to buy said washing machine.

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  • 301 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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