Jump to content
House Price Crash Forum
Tired of Waiting

Video: Balls V Osborne - 1St Treasury Questions

Recommended Posts

Video: Ed Balls v George Osborne - 1st Treasury Questions

Osborne: "had the biggest housing bubble boom"

Main "quartet" completed: In a couple of weeks, all 4 main members of government (Cameron, Osborne, Clegg and Cable) have mentioned the hosuing bubble. This canNOT be just a coincidence. :)

Edit: Correction: Osborne actually said housing boom, not bubble. Sorry.

Edited by Tired of Waiting

Share this post


Link to post
Share on other sites

"largest housing boom"

Ireland's was larger. Not that Osborne was able to recognise it at the time...

'Gordon Brown's policies are wedded to the past' [February 2006]:

http://www.putneyconservatives.co.uk/record.jsp?type=cchNews&ID=585

Shadow Chancellor George Osborne has fired a fresh broadside at Gordon Brown's economic policies and called for Britain to learn the lessons of Ireland's stunning economic success.

[...snip...]

"Ireland stands as a shining example of the art of the possible in economic policy-making. With its vision of a highly-educated, innovative, open, dynamic, low-tax economy, and relentless focus on the long-term drivers of prosperity, Ireland's economic miracle has shown that it has the right answers to the challenges of the new global economy.

"The new global economy offers us great challenges, and also great opportunities. Ireland has shown the world that wise economic policy-making can produce outstanding results that surpass all expectations, so that we can meet our potential, achieve our goals, and share rising prosperity in an increasingly competitive world. We in Britain would do well to listen and learn from our Irish neighbours."

Share this post


Link to post
Share on other sites

You know what a big problem with democratic parliamentarism is in the UK? The whole sodding setup with people facing eachother in parliament, taking turns with the roast, all trying to take the piss the most eloquent way. People tune out. Just a bloody show for the masses about who's got the biggest willy.

How about some bloody factual discussion without interuptions.

Share this post


Link to post
Share on other sites
Britain HAD the largest housing boom

Close

Yes, the past tense is annoying.

Though I understand a British Chancellor cannot say that we are still near the top of the biggest housing bubble in British history...

Or could he? :unsure:

It would be fun. No doubt about that.

The question would be if this level of "excitement" would kill the patient - the UK banking system, and then the UK economy.

.

Edited by Tired of Waiting

Share this post


Link to post
Share on other sites

they all keep saying boom, any more and Basil Brush will be signing up

I've just noticed this: Users reading this topic: 3 members, 24 guests.

Isn't this a unusually high guest/members ratio?

Share this post


Link to post
Share on other sites

If they are all saying it then it is no accident.

Letting the public know we had a massive boom - so when we have a massive bust they can blame the previous incumbents ?

Hopefully.

Share this post


Link to post
Share on other sites

You know what a big problem with democratic parliamentarism is in the UK? The whole sodding setup with people facing eachother in parliament, taking turns with the roast, all trying to take the piss the most eloquent way. People tune out. Just a bloody show for the masses about who's got the biggest willy.

How about some bloody factual discussion without interuptions.

Good point.

But it is not only in Parliament. Our media is as cr@p. The "Paxman style" actually just fishes for sensationalist, demagogic angles, hopping to be quoted in the following day's tabloids, instead of actually analysing the issue intelligently and honestly.

Share this post


Link to post
Share on other sites

Video: Ed Balls v George Osborne - 1st Treasury Questions

Osborne: "had the biggest housing bubble boom"

Main "quartet" completed: In a couple of weeks, all 4 main members of government (Cameron, Osborne, Clegg and Cable) have mentioned the hosuing bubble. This canNOT be just a coincidence. :)

Edit: Correction: Osborne actually said housing boom, not bubble. Sorry.

Labour again run out of the other people money ....

Share this post


Link to post
Share on other sites

If they are all saying it then it is no accident.

Letting the public know we had a massive boom - so when we have a massive bust they can blame the previous incumbents ?

Hopefully.

I would hope so. But I think the current government is, at the same time, trying to avoid a "massive bust".

Shapps admits that HPrices are unaffordable, but he keeps saying that their ideal scenario is house price "stability", with average earnings growing 2% more than house prices/year. So, in "10 or 20 years" :rolleyes: houses would be affordable again.

I find hard to believe that the government - even with the banks' help - could manage and afford such a long "correction".

I don't know what is their game plan.

I think that, with the banks' help, they could cushion this fall, and probably limit it to single digit nominal annual falls (politically less damaging than a double digit), for 2 or 3 years. Plus inflation (3% to 5%/year?), they would be able to have a nominal correction of up to 30%, and real correction of up to 40% or 45% - without breaking the banks. A lot of space there.

Though property owners would be really p!ssed.

.

Edited by Tired of Waiting

Share this post


Link to post
Share on other sites

Labour again run out of the other people money ....

Agreed. Balls had his ar$e handed to him on a plate there.

On a separate note, the coalition's recent repeated and open discussion of the housing "boom" leads me to believe that we are headed for house price falls. My guess is real terms over at least this parliament (4 years).

Share this post


Link to post
Share on other sites

I would hope so. But I think the current government is, at the same time, trying to avoid a "massive bust".

Shapps admits that HPrices are unaffordable, but he keeps saying that their ideal scenario is house price "stability", with average earnings growing 2% more than house prices/year. So, in "10 or 20 years" :rolleyes: houses would be affordable again.

I find hard to believe that the government - even with the banks' help - could manage and afford such a long "correction".

I don't know what is their game plan.

I think that, with the banks' help, they could cushion this fall, and probably limit it to a single digit nominal fall (politically less damaging than a double digit), for 2 or 3 years. Plus inflation (3% to 5%/year?), they would be able to have a nominal correction of up to 30%, and real correction of up to 40% or 45% - without breaking the banks. A lot of space there.

Though property owners would be really p!ssed

I agree with you that it is their motivation, but:

- government does not have any spare cash

- banks do not have the spare cash

- IRs going up

I do not think they have a chance ....

Share this post


Link to post
Share on other sites

I would hope so. But I think the current government is, at the same time, trying to avoid a "massive bust".

Shapps admits that HPrices are unaffordable, but he keeps saying that their ideal scenario is house price "stability", with average earnings growing 2% more than house prices/year. So, in "10 or 20 years" :rolleyes: houses would be affordable again.

I find hard to believe that the government - even with the banks' help - could manage and afford such a long "correction".

I don't know what is their game plan.

I think that, with the banks' help, they could cushion this fall, and probably limit it to single digit nominal annual falls (politically less damaging than a double digit), for 2 or 3 years. Plus inflation (3% to 5%/year?), they would be able to have a nominal correction of up to 30%, and real correction of up to 40% or 45% - without breaking the banks. A lot of space there.

Though property owners would be really p!ssed.

.

They are never going to say were going to let the market crash even if it was their plan,and like some else have said watch what they do and not what they said they would do

Share this post


Link to post
Share on other sites

Osborne: "had the biggest housing bubble boom"

Main "quartet" completed: In a couple of weeks, all 4 main members of government (Cameron, Osborne, Clegg and Cable) have mentioned the hosuing bubble. This canNOT be just a coincidence. :)

Can you guess why they have?

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 284 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.