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'huge Fears On House Prices'

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http://www.mirror.co.uk/news/city-news/2010/09/14/huge-fears-on-house-prices-115875-22560300/

I saw this in the Daily Mirror this morning. You can't quite get the doom-laden bleakness evoked by the piece (from the "homeowners" viewpoint only, of course - no notion of the more rational 'good news for starving bread buyers as bread prices drop' angle) as it was laid out in the physical paper, but the headline speaks for itself.

The Daily Mirror really is mainstream. I felt quite coy about reading it in public.

Huge Hopes for House Prices.

Just a correction there for the mirror.

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http://www.mirror.co.uk/news/city-news/2010/09/14/huge-fears-on-house-prices-115875-22560300/

I saw this in the Daily Mirror this morning. You can't quite get the doom-laden bleakness evoked by the piece (from the "homeowners" viewpoint only, of course - no notion of the more rational 'good news for starving bread buyers as bread prices drop' angle) as it was laid out in the physical paper, but the headline speaks for itself.

The Daily Mirror really is mainstream. I felt quite coy about reading it in public.

I went to a caff for breakfast this morning and it was a choice of Mirror or Mail. I was glad i chose mirror when i saw this piece in a prime rag for the hard-of-thinking masses!

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I went to a caff for breakfast this morning and it was a choice of Mirror or Mail. I was glad i chose mirror when i saw this piece in a prime rag for the hard-of-thinking masses!

....as opposed to the Daily Mail, for the hard-of-tolerance masses.

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or the Express for the Hard of Seeing-your-hand-in-front-of-your-face masses

Or the Sport for the Hard of **** masses

Edited by sbn

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I went to a caff for breakfast this morning and it was a choice of Mirror or Mail. I was glad i chose mirror when i saw this piece in a prime rag for the hard-of-thinking masses!

I hope you left it in there with that story facing sunny side up :D

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Something like this was in the FT the other day. Really they mean equity. It seems like end game now as mortgages hit a price floor and fixes are very short (also additional capital requirements going forward ) and the BOE turns up each month and keeps the rate held. Ocassionaly dishes out a forecast but with the public spending cuts coming over the next few years they will have to be ultra loose. In addition new mortgages on variable rates (with giant spreads) would just be unaffordable if rates went up. Was the demand ever there?

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I suppose in the mainstream DM and SUN world, this is a good signal that we are in the Fear Phase re. the HPC?

What's up next?

Greed - Check

Delusion - double check

New Paradigm - ****** yes !!

Denial - Where to begin. Buckets of the stuff.

Bulltrap - Check

Return to normal - Oh yes.

Fear - On track

Capitulation - TBC

Despair - TBC

Return to Normal - TBC

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Here come the girls falls.

I can live without coffee, I can live without Tea!

And I'm livid about the honeybee!

I'm not a fillet steak,

I can leave or take,

But the Falls are part of me!

And ohhh water!

I don't need no lemonade!

But to live without Falls,

I can't live without Falls,

It's like a man with a hole in his head!

Here come the Falls!

Here come the Falls!

Here come the Falls! (Falls, Falls, Falls-Falls)

Here come the Falls! (Falls, Falls, Falls-Falls)

:D

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Exactly, but he's not thinking it through. Imagine we are in ten years' time, and houses have risen 10% per year in real terms, whilst wages have stayed flat.

Now the problem for first time buyers and anyone moving up are 2.5 times worse. In twenty years over six times worse. Thirty years and 17 times worse. With every fractional increase in prices to wages, volume drops away. The market dries up.

Eventually only Sibley is left, with no new fools and "the market" a forgotten relic for rare eccentrics.

It isn't going to happen.

Oh thought sibley was just saying it because he is a bit of a selfish bell end ....silly me

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So is this the start of the fear phase?

Yes. IMO. People are starting to twig that following the herd the last few years was the WRONG thing to do. There will be a lot of anger out there, and fear. I think the banks will try to keep people in their house paying the mortgage though, doesn`t make sense to have mass repossesions at this stage of the cycle?

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