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moonriver

Radio 5 "wake Up To Money" Today

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iplayer link here

http://www.bbc.co.uk/programmes/b0070lr5

Housing related on 3 occasions.

7.30 mins. The guest from CIPD who is warning of future job losses to come, twice mentions possible future falls in housing.

14.40 mins. The quardruple increase in mortgage fraud, with the likelehood of more to come, is mentioned. (see Masked Tulip's thread).

27.50 mins. Their Indepandant housing guest (Henry Pryor) speaks of the current difficulty in selling properties. He says that anyone who puts their place up for sale now, has to join the other 900,000 properties already on the market. Only 8% of properties now sell in the first month, and only 35% sell within a year. He blames the banks for either not lending, or for charging too much to lend. But, as usual, there is no mention of sellers overpricing.

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35 % chance of selling for the whole year

does not sound too good

:D

The thing is that, IMPO, the BBC could have a live programme at 7PM tonight hosted by their various journos turned celebs - funny how the journos present nearly everything on the BBC nowadays - telling the entire nation that only 35% of houses put on the market will sell in the first 12 months... and the sodding sellers would still not get the message IMPO. Nor would the EAs.

We are in complete denial territory.

This is why I think it is going to be a long, slow decline. In the meantime, the savings of people looking to buy will become eroded thereby making it even harder for would-be buyers to buy.

Can you imagine in the States now if, with their levels of jobless, house prices had somehow magically stayed at bubble levels?

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The thing is that, IMPO, the BBC could have a live programme at 7PM tonight hosted by their various journos turned celebs - funny how the journos present nearly everything on the BBC nowadays - telling the entire nation that only 35% of houses put on the market will sell in the first 12 months... and the sodding sellers would still not get the message IMPO. Nor would the EAs.

We are in complete denial territory.

This is why I think it is going to be a long, slow decline. In the meantime, the savings of people looking to buy will become eroded thereby making it even harder for would-be buyers to buy.

Can you imagine in the States now if, with their levels of jobless, house prices had somehow magically stayed at bubble levels?

i know what you mean, see how it situation is in 6 m onths time, hopefully 20% down

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The thing is that, IMPO, the BBC could have a live programme at 7PM tonight hosted by their various journos turned celebs - funny how the journos present nearly everything on the BBC nowadays - telling the entire nation that only 35% of houses put on the market will sell in the first 12 months... and the sodding sellers would still not get the message IMPO. Nor would the EAs.

We are in complete denial territory.

This is why I think it is going to be a long, slow decline. In the meantime, the savings of people looking to buy will become eroded thereby making it even harder for would-be buyers to buy.

Can you imagine in the States now if, with their levels of jobless, house prices had somehow magically stayed at bubble levels?

Quite, so its all going spiffingly to plan, enjoy it whilst it lasts

FIG2-15.gif

Personally id be much happier staying in the denial phase than going through the fundamentals ultimately collapse phase

Edited by Tamara De Lempicka

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Quite, so its all going spiffingly to plan, enjoy it whilst it lasts

FIG2-15.gif

Personally id be much happier staying in the denial phase than going through the fundamentals ultimately collapse phase

With savings rates effectively -ve, a massive increase in the number of destitute people is about the only way my cash can increase in real buying power. Selfishness aside (and that took some effort saying that I can tell you ...), there cant be any real improvement in UKs long term prospects until there is a collapse and restructure of our economic and social system. Our welfare state and general high cost of living base (shelter, energy, transport etc) need to have its back broken.

Edited by goldbug9999

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"Priced to be on the market for a year",

is not a phrase any EA likes to hear.

so if seller is wisest

He'll cut his prices

and buyer will find its not dear

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With savings rates effectively -ve, a massive increase in the number of destitute people is about the only way my cash can increase in real buying power. Selfishness aside (and that took some effort saying that I can tell you ...), there cant be any real improvement in UKs long term prospects until there is a collapse and restructure of our economic and social system. Our welfare state and general high cost of living base (shelter, energy, transport etc) need to have its back broken.

I have the feeling that the welfare state in current form could have carried on for a couple of decades more without collapse because although getting worse every year, it wasnt at such a level where it totally destroyed productivity through personal choice, the UK still has a lot of productive people, they have unfortunately been drowned by the credit expansion engineered by the top (Credit is easy to create whereas money/wealth costs effort but both have equal value until the credit collapses but until it does so it distorts the value of effort and practically destroys its worth). the banking collapse has probably collapsed the welfare state early which is no bad thing in the long run although we are unlikely to see the benefits for decades, Its fundamentally the parasites at the top and wealth disparity created at the top that is the reason for collapse if it happens. The welfare state to some extent is a natural fallback to pointlessness of trying to earn an honest living in the UK which pitches you against, banks, speculators and the most importantly the govt who are by far the worst in taking part of your effort and actually slapping you round the head with it by using it to make what you have left count for even less . Its clearly a battle it is sensible to give up on unless you have some sort of edge/advantage on your side

Edited by Tamara De Lempicka

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"Priced to be on the market for a year",

is not a phrase any EA likes to hear.

so if seller is wisest

He'll cut his prices

and buyer will find its not dear

Alternatively (EE Cummings blank verse stylee, if you please):

seller doesn't want to drop price

withdraws

from

market.

less supply

low IRs

prices

stabilise as before.

Where are FORCED sellers coming from?

What'll be the catalyst? Unemployment alone?

It's looking sticky on the way down UNLESS we go from Denial to Panic.

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  • 259 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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