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Uncontrollable Boom In Housing - David Cameron P M Qs


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Is it just me, or are we hearing more about the 'housing boom' from official quarters in recent weeks? Contrast this with absolute silence on the topic for the past decade.

http://www.bbc.co.uk/news/uk-politics-12287963

Colleagues at my workplace are even talking about it, when I arrived in 2007 they were all suffering from house price delusion....

softly, softly, slowly, slowly, change is on its way

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I assumed it was somewhat tongue in cheek, but pointing out that there are a lot of people in the UK who think exactly that. Unfortunately. Then there are those who think that the current government is hell bent on doing as much damage to public services without even managing to save any money in the process. I've heard words, but haven't seen all that much evidence that they are better than Labour. It's deeply, deeply depressing. If they are admitting HPI was a problem perhaps there's still a glimmer of hope (or they've simply seen sentiment starting to move that way and are sending out feelers to see if it's a bandwaggon worth jumping on).

i think there is an outside chance that it might be possible to convince people who end up neck deep in neg equity that it was labours fault the houses were over priced, they never should have been that high in the first place, no matter who was in now they had to fall as no-one could afford them without liar loans (obtaining money by deception ie fraud) just as you did and you can't vote when you're in prison for it!

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I watched 10 minutes of PMQs and had to switch off. Why are the Tories being so "gentlemanly" about criticising the previous government? They really don't seem to want to nail them. Why didn't Cameron say "housing bubble" rather than "housing boom"? Why didn't he mention fraud and liar loans? Why didn't he specifically say the Labour government encouraged people to take on massive debts to buy overpriced houses and the banks boomed accordingly? Why doesn't he just say that Labour ran the economy into the ground and that you can't carry on borrowing and pissing money up the wall to pretend to create real sustainable jobs?" Why put the pain and bad news off? Why maintain the delusion? (sorry for so many questions!)It must be for fear of scaring the horses - "PM says houses are too expensive", "PM says people should have less debt"...followed a few months later by "housing market crashed due to Cameron". But what it means is that Labour are getting away with it and the Tories will be getting the blame for the recession. I thought Cameron made it far too easy for Miliband today. If he carries on like that it'll be a Labour government at the next election and all bets will be off with the IMF booking their tickets to Heathrow.

Because they never really opposed any of it whilst they were in opposition, so it somewhat weakens their position when it comes to laying the blame.

Edited by Flaps
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Yes but what will they do about it? Correction over the next 10 or 20 years ... need to protect the banks.

I don`t believe they can control it like that, they have pulled the brakes on over the last three years, yes, but lack of credit will mean those who have to sell push the dam to bursting point, prices must slip downwards from here? There are too many who can`t get on with their lives otherwise?

Edited by dances with sheeple
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How are the BBC reporting this exchange today?

:lol: Classic BBC.

"Clash over Growth" and "Tory Posh Boys" is the main banner. :lol:

They're really outdoing themselves now...and we talk about the Bank of England's credibility being shot!

65n1c6.jpg

my guess is public schoolboys run the country because they can read and write.

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I think it will be fast than Shapps 2%/year.

I fully agree with you there. They were utterly incompetent.

Osborne bought a £1.85m house in 2006!!!

Yes but someone like Roy Keane thinks his house ,worth about 2 million, should sell for 7 - 9 million, this is the difference between the wealthy brain and the chav brain, Osbourne probably got a good deal, his class don`t fear house prices correcting IMO, it is only one of a basket of investments they dabble in whereas the chavs bet the farm on the ex - council end terrace (or tacky footballer pad) always going up in value. Osbourne and co will preside over a HPC without flinching, much like their forebears presided over previous carnage in WW1 etc. A little HPC will be a walk in the park for these guys.

Edited by dances with sheeple
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A Labour MP said during PMQ that the economy had contracted 5%.

:(

that's why i left maths out, doesn't seem to be any politicians specialism

Got to say i'm ever more impressed with Cameron, he nails it often. Just when i'm thinking milliband is just trotting out the tripe again regardless of the topic Cameron makes his "shouldn't write the questions before he comes" quip :D

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I watched 10 minutes of PMQs and had to switch off. Why are the Tories being so "gentlemanly" about criticising the previous government? They really don't seem to want to nail them. Why didn't Cameron say "housing bubble" rather than "housing boom"? Why didn't he mention fraud and liar loans? Why didn't he specifically say the Labour government encouraged people to take on massive debts to buy overpriced houses and the banks boomed accordingly? Why doesn't he just say that Labour ran the economy into the ground and that you can't carry on borrowing and pissing money up the wall to pretend to create real sustainable jobs?" Why put the pain and bad news off? Why maintain the delusion? (sorry for so many questions!)

It must be for fear of scaring the horses - "PM says houses are too expensive", "PM says people should have less debt"...followed a few months later by "housing market crashed due to Cameron". But what it means is that Labour are getting away with it and the Tories will be getting the blame for the recession. I thought Cameron made it far too easy for Miliband today. If he carries on like that it'll be a Labour government at the next election and all bets will be off with the IMF booking their tickets to Heathrow.

Yes but what will they do about it? Correction over the next 10 or 20 years ... need to protect the banks.

Because if they let rip with the truth about how badly Labour have shagged the economy, investor confidence would collapse.

Exactly…

Labour’s trump card was to cripple the economy to the point where Tory’s can’t / daren’t tell it how it is. If they do the whole sack of $hit will unwind during their watch and they’ll be left carrying the blame.

However, the Tory’s really need to get a grip of this situation and let the country know the true state of the economy. Their biggest ever failure will be to sit on the information, and not let all the lefties know just how badly the country has been governed during Labours spectacular reign (spectacularly bad that is).

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my guess is public schoolboys run the country because they can read and write.

Funny how they never banged on about Tony Blair being an old boy of Fettes, Scotland's version of Eton. Or about Harriet Harman being an old girl of St Paul's, the top girls' independent in the whole country.

And they weren't the only ones.

Funny how it's only a Big Thing if you're not Labour.

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All very well but the opposition (in support of labour policy) said booger all!

Ditto to the hundreds of laws introduced which have left UK citizens with less rights than a C13th village idiot (who had to be given a trial and judged by his peers to determine wrongdoing before incarceration)

Conservatives have hushed this up and left all these fascistic laws in place - so watch yourselves in the near future when they 'turn' on you!

I agree the boom/bubble in housing would have still happened under a conservative government...it suited all at the time, it created false growth, wealth and taxes.....the banks had them wrapped around their little finger promoting a strong and healthy economy, 'everyone a winner' but it was all built on weak and vulnerable foundations, (split up and passed around, who will be left holding the hot potato? debt was labeled as an asset, savings a liability :o not all debt was good debt and nobody knew what debt they were holding :lol: ) ...all built on lies, debt and greed, as we are all slowly finding out.......now to reset back to how it should have been before the party started. ;)

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Anecdotal I know, but many of the properties we have looked at to buy are also available to rent. Others around where we used to live had 'for sale' boards and are now 'to let'. Very few forced sellers, with low rates they can rent it out rather than sell, which is why the number of repossessions has been falling. Constrict the supply and keep the prices high and let inflation do the rest.

Massive difference between "To Let" and "Let" ,and even bigger difference between "Let" and "Let to decent long term tenants who won`t trash the place"? The " Just rent it out " meme to me is a lot like the "supply and demand" meme or the "not making any more land" meme, it assumes too much (infinite supply of cash rich tenants for one thing) and is just something people say without grasping the realities of renting out property. IMO many young people losing their job for example will just go home to mum and dad. there is going to be a lot of property not selling, even with deep price cuts, chasing a dwindling supply of tenants (Poles etc will leave also when things get too bad) and this means that renters will be bargaining hard, putting extra downward pressure on rents.

Edited by dances with sheeple
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i think there is an outside chance that it might be possible to convince people who end up neck deep in neg equity that it was labours fault the houses were over priced,

an awful lot of them were natural labour voters anyway - council officers, NHS staff [those who had the incomes to buy into this silly boom, or the silliness (taxi drivers) to get daft leverage] ; those NOT in this list who will be in neg equity I suspect will do as you say, blame labour and get on with shovelling themselves out of their own holes

Edited by Si1
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When they were in Opposition they would get totally nailed by Labour/BBC for "TALKING DOWN THE ECONOMY".

They couldn't win.

labour-leaning BBC website readers are among that special section of the population that believe markets are not dictated by competition, trade and and arbitrage, oh no, they think , and I quote verbatim, the economy is 'all to do with confidence'. Which is why you must borrow money and pay the public sector as much as you can. To raise economic confidence.

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Funny how they never banged on about Tony Blair being an old boy of Fettes, Scotland's version of Eton. Or about Harriet Harman being an old girl of St Paul's, the top girls' independent in the whole country.

And they weren't the only ones.

Funny how it's only a Big Thing if you're not Labour.

Sorry to burst your bubble, but the bbc bit very explicitly talks about Blair/Fettes and makes it clear that this is about the rise of the upper/upper-middle class in all parties... they even, shock-horror, lay some of the blame with the abolition of the grammar school system*.

* which if correct is somewhat ironic IMHO

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So in the space of two days we have had Cable and Cameron both make references to house prices as currently being uncontrollable and also Shapps who considers a healthy market to be one where HPI trails wages.

Why has that Kool And The Gang intro entered my mind.... :)

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So in the space of two days we have had Cable and Cameron both make references to house prices as currently being uncontrollable and also Shapps who considers a healthy market to be one where HPI trails wages.

Why has that Kool And The Gang intro entered my mind.... :)

What this one? ;)

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"We had a growth model that was based on uncontrollable boom in housing, uncontrollable boom in financial services, uncontrolled public spending and uncontrolled immigration.

Just about everything was uncontrollable then and helped because the Tories put up such a poor show in opposition.

If it hadn't been for the bankers "ineptitude" they would still be in opposition so they owe the bankers again. Mind you the current Labour opposition aren't doing much better and what about the two noddies flanking the opposition leader and as for the LibDem leader he looks more and more like a parrot on the Tory's shoulder with every passing week.

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  • 434 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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