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Housing Market Slowdown Blamed On Spending Cuts And Lack Of Buyers

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I've seen a few such stories on the Guardian site.

As usual, Oreally makes some really valid points in his comments though - makes me think he is a HPCer moonlighting on the Guardian site. Anybody know?

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Nope, it's because they are to ******ing expensive.

I suspect that is a problem too ;-)

Houses are now an unaffordable luxury..much like petrol, heating and food.

Still the bankers are happy.

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It's just that he banks won't lend 125% mortgages now, they also want a deposit and are restricting multiples of salary. Prices are not too high if the banks returned to 2007 lending criteria then the sheeple would buy.

In the real world, yes, prices are too high but we no longer live in the real world we are in a new reality where debt is wealth, the rich have debts on assets that have soared in value and the poor have savings that are reducing in value. With some decent inflation the debt ridden will be very wealthy and the savers will be broke.

I don't think the lenders will be returning to the lax lending days......houses are only as high as there is credit made available...all debt requires servicing and to do that requires an income from somewhere, that income has other more important things to pay for such as putting fuel in the car and food on the table....no spare cash to spend on borrowing further equity, equity is not free to access, it costs and it restricts your choices.

Savvy savers will spread their risks...some in property, such as your home, some in quality ethical companies with healthy yields, some tax free savings and maybe a bit in more risky investments...... the key is to be able to get to some of your savings quickly when you need to ...selling property takes time and costs money. ;)

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I suspect that is a problem too ;-)

Houses are now an unaffordable luxury..much like petrol, heating and food.

Still the bankers are happy.

Of course. Handing over everything just to stay alive and not have any discretionary income left over is somehow good for the economy.

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Of course. Handing over everything just to stay alive and not have any discretionary income left over is somehow good for the economy.

Is that the definition of slavery in the oxford english ?

EDIT: or is that the definition of stupidity ?

:lol::lol::lol::lol:

Edited by TheCountOfNowhere

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Of course. Handing over everything just to stay alive and not have any discretionary income left over is somehow good for the economy.

This is inevitable so happening to more.... they call it growth, enrichment and progress but only for the few not for the majority....:unsure:

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  • 312 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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