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The Masked Tulip

Property Props Up Uk Spending

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In the US, Ireland and Spain, the housing market is in freefall. Here, it isn't, and that's why Britons are still shopping - for the moment

http://www.guardian.co.uk/business/2010/aug/26/property-uk-consumer-spending

I loved this nonsense:

"While the UK suffered the after-effects of a massive house price bubble, it avoided the triple whammy the US, Ireland and Spain went through. Not only did they allow house prices to rip, but also fostered a massive building boom and widespread fraudulent buying and lending. Now they are left with hundreds of thousands of empty homes that depress prices and rob consumers of the springboard for spending – property wealth."

Apparently we don't have hundreds of thousands of empty homes. I must have been imagining all those empty flats I saw in Manchester and Leeds. I should have gone to specsavers.

We didn't even have the same fraudulent lending and buying. What an honest country we live in ;)

Cr*p article written by an equally duff reporter. No stats to demonstrate what he preaches.

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from the article:

We are unlikely to have a property price crash. (...) But we will have higher unemployment, miserable pay rises and lower growth than we should expect.

That's like saying: this plane is not going to crash however it will lose all engine power, the wings&wheels will come off and the flight will be a little lower than we expect...

dum%20crashed%20plane.jpg

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from the article:

We are unlikely to have a property price crash. (...) But we will have higher unemployment, miserable pay rises and lower growth than we should expect.

That's like saying: this plane is not going to crash however it will lose all engine power, the wings&wheels will come off and the flight will be a little lower than we expect...

dum%20crashed%20plane.jpg

LOL

I love that analogy.

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In the US, Ireland and Spain, the housing market is in freefall. Here, it isn't, and that's why Britons are still shopping - for the moment

http://www.guardian.co.uk/business/2010/aug/26/property-uk-consumer-spending

I think you could have hit on something there, MT. The two do seem inxorably linked - MEWing could only take place on the coat-tails of a buoyant property market, so by the same token, a small drift down in HP would only result in a small drift down in retail spending. Retailers (including myself) in my town are generally down by a small amount, but it's not the bloodbath you'd expect given the financial situation.

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I think you could have hit on something there, MT. The two do seem inxorably linked - MEWing could only take place on the coat-tails of a buoyant property market, so by the same token, a small drift down in HP would only result in a small drift down in retail spending. Retailers (including myself) in my town are generally down by a small amount, but it's not the bloodbath you'd expect given the financial situation.

Good point but when the Mewing runs out?

You know nobody is interested in the US anymore. Property is so "yesterday". Everybody just talks about jobs, if and when the welfare checks run out, and health coverage. My niece works four part time jobs bless her, my nephew three (lazy sod). Both have good degrees and in their early 20's. They don't moan, just get on with it. Refreshing in a sad way.

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  • 140 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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