Jump to content
House Price Crash Forum
Sign in to follow this  
Guest wrongmove

Black Horsemen, White Knuckles

Recommended Posts

Guest wrongmove

Something fir everyone here ! A short article on gold, then scroll down to

BLACK HORSEMEN, WHITE KNUCKLES

"Financial bubbles are like great parties. They're fun...too

much fun. No one wants to leave too early, so almost

everyone stays much later than prudence would permit.

Hangovers are no fun, but they are quickly

forgotten...which is why we will eagerly attend the next

party. Financial bubbles, though they resemble parties, can

impart far more dire consequences than a mere hangover.

Indeed, sometimes the consequences seem almost Apocalyptic

in magnitude, as Adam Smith, author of The Money Game,

explains:

"We are all at a wonderful party, and by the rules of the

game we know that at some point in time the Black Horsemen

will burst through the great terrace doors to cut down the

revelers; those who leave early may be saved, but the music

and wines are so seductive that we don't want to leave, but

we do ask 'What time is it? What time is it?' Only none of

the clocks have any hands."

Yes, that's it exactly...financial bubbles are an

Apocalyptic cocktail party. Over in the housing market, the

cocktails have been flowing for a good, long while. Not

surprisingly, therefore, most housing bubble participants

have become a bit light-headed, especially the mortgage

lenders.

Intoxicated by their good fortune, the mortgage lenders

have become increasingly reckless. They have been mixing up

potent cocktails like "interest-only" mortgage and "no doc"

mortgage (where the income of the borrower is not

verified). Some lenders have also concocted 40-year

mortgages. Fannie Mae, the barfly of our metaphor, loves

them all. This government-sponsored mortgage lender

recently announced that it would accept 40-year mortgages

as "conforming loans" – meaning she will buy them...."

Share this post


Link to post
Share on other sites
Guest Charlie The Tramp
Intoxicated by their good fortune, the mortgage lenders

have become increasingly reckless. They have been mixing up

potent cocktails like "interest-only" mortgage and "no doc"

mortgage (where the income of the borrower is not

verified). Some lenders have also concocted 40-year

mortgages.

"From the mid 1990s onwards American lenders flooded into the UK market."

"They stole a march on domestic lenders by using aggressive marketing techniques and more sophisticated credit scoring to enable them to undertake a looser lending policy.

Seeing their market share vanish at an alarming rate, domestic lenders countered by making it much easier and quicker for people to get credit.

It wasn`t our fault Guv. :(

Share this post


Link to post
Share on other sites

Its getting harder to come up with replies now..

For three years my life and its direction has been shaped by the housing bubble.

From making a decision to abort a child that I would have loved and would still be loving.. Because I couldn't afford a home.. to eventually giving up on living in the south east and returning home..

I have a good home .. I am back at my parents.. back in Devon

By returning there I was able to use my salary to help my brother complet his university course..

He couldn't get a home.. so he got a degree.. mature student.. good lad..

Personally I am investing in my carear..

But life.. is waiting..

We all know its a bubble.. and what is scary is that the bubble is so damaged that even with the full effort of the government and the most powerful financial institutions in the world... The bubble is bursting..

The most powerful people in the country can do nothing now...

It is a shame that the economy had to be the engine that forced it.

But there are economic truths..

Number 1

Devon.. average wage needs to be multiplied by about 8 times to buy a house.

People can't afford it.

They Build too many houses out of gread..

and there is no such thing as free money.. and that is what speculative markets are all about.

Share this post


Link to post
Share on other sites
For three years my life and its direction has been shaped by the housing bubble.

From making a decision to abort a child that I would have loved and would still be loving..

If that's true - which I seriously doubt - then you're an idiot. If you knew you couldn't afford a house, and it was such a priority for your child, then why bother having one in the first place? Maybe spend less time on sorting other peoples lives out - like you were in the rest of the post - and spend a little more time sorting your own life out.

Sorry to sound harsh, but aborting children and then blaming house prices is just disgusting (and no, I'm not an anti-abortionist.)

Nomadd

Share this post


Link to post
Share on other sites
From making a decision to abort a child that I would have loved and would still be

Am i misinterpreting that .. you / your partner had an abortion because you have to rent and not buy?

Your going to have to clarify that one if you dont mind.

:huh::blink:

Share this post


Link to post
Share on other sites
If that's true - which I seriously doubt - then you're an idiot. If you knew you couldn't afford a house, and it was such a priority for your child, then why bother having one in the first place? Maybe spend less time on sorting other peoples lives out - like you were in the rest of the post - and spend a little more time sorting your own life out.

Sorry to sound harsh, but aborting children and then blaming house prices is just disgusting (and no, I'm not an anti-abortionist.)

Nomadd

I don’t think he’s an idiot, I think he probably did what was right for him at time and now he regrets it. The only mistake I think he is making is to bother telling us in the first place. The housing bubble and those on the foot pump is a big issue for my wife and me. We have had to make some unpleasant sacrifices and suffered frustration simply because some people are buying properties hoping to supplement their pensions, which many didn’t bother to invest in as they were living for the day. It exasperates me to discover some smug bugger has bought of a builder and added twenty thousand pounds because they had the readys, leaving the ftb to save or borrow even more. It’s sickening to find my town invaded by second home buyers and leaving those who need to live here having fork out a disproportionate amount of their income –for some- just for the pleasure of sweeping their streets

Share this post


Link to post
Share on other sites
Am i misinterpreting that .. you / your partner had an abortion because you have to rent and not buy?

Your going to have to clarify that one if you dont mind.

:huh:  :blink:

WHY DO YOU FIND IT SO HARD TO UNDERSTAND WHERE APOM IS COMING FROM TO HAVE A BABY/FAMILY CAN ONLY BE DONE IN THE WILD BY HAVING YOUR OWN NEST/DEN (UNLESS YOU ARE A CUCKOO) TO GIVE YOU THAT SECURITY AND COMFORT REQUIRED,WHY SHOULD IT BE DIFFERENT FOR HUMANS? THE DAMAGING SOCIAL CONSEQUENCES OF THIS PERIOD OF GROTESQUE(SIC) HPI RUN VERY DEEP AND WILL IN YEARS TO COME BECOME MORE APPARENT AND UNDERSTOOD,ONCE GREED HAS SUBSIDED(ALL BE IT NOT PERMANTELY) I KNOW MANY PEOPLE WHOS LIVES HAVE BEEN DETRIMENTALY AFFECTED BY THE IN ABILITY TO BUY THEIR OWN HOME SO APOM IS NOT ALONE.............

Share this post


Link to post
Share on other sites
Am i misinterpreting that .. you / your partner had an abortion because you have to rent and not buy?

Your going to have to clarify that one if you dont mind.

:huh:  :blink:

Oh shit Apom, you have my sympathy mate. As someone who feels blessed with three gorgeous kids we simply got dead lucky, right place right time, bought house for 50K 9 years ago. Do not despair though, we had been through the madness of London house prices in the late eighties.

Paul

Share this post


Link to post
Share on other sites
Its getting harder to come up with replies now..

For three years my life and its direction has been shaped by the housing bubble.

From making a decision to abort a child that I would have loved and would still be loving.. Because I couldn't afford a home.. to eventually giving up on living in the south east and returning home..

I have a good home .. I am back at my parents.. back in Devon

By returning there I was able to use my salary to help my brother complet his university course..

He couldn't get a home.. so he got a degree.. mature student.. good lad..

Personally I am investing in my carear..

But life.. is waiting..

We all know its a bubble.. and what is scary is that the bubble is so damaged that even with the full effort of the government and the most powerful financial institutions in the world... The bubble is bursting..

The most powerful people in the country can do nothing now...

It is a shame that the economy had to be the engine that forced it.

But there are economic truths..

Number 1

Devon.. average wage needs to be multiplied by about 8 times to buy a house.

People can't afford it.

They Build too many houses out of gread..

and there is no such thing as free money.. and that is what speculative markets are all about.

Apom: My sympathies go out to you; What you say is so true - it is just a matter of time. In the meantime - so many people's lives have been really badly affected and disrupted. It is terrible. If only SOMEHOW we could stop this ever hapenning again. It is a moral question. Incremental taxes need to be applied so that people can get their fair share of roofs over their heads. Just imagine it - if 100 people bought up all the food and/or water in the UK - and then sold to the highest bidders! A cartel would naturallly occur. There'd be an outcry. Is the housing bubble really so different? Good point of debate.....

Share this post


Link to post
Share on other sites

i agree with someone elses post. apom is probably not the only one. how many career wives have done this as they desperatley need the money from the 2nd job to help fund a crazy mortgage ? i bet this figure is in thousands.

why do our wives have to work in order for us to live in the same houses are parents did on 1 wage ?

whats wrong with our country ? :angry:

Share this post


Link to post
Share on other sites
WHY DO YOU FIND IT SO HARD TO UNDERSTAND WHERE APOM IS COMING FROM TO HAVE A BABY/FAMILY CAN ONLY BE DONE IN THE WILD BY HAVING YOUR OWN NEST/DEN (UNLESS YOU ARE A CUCKOO) TO GIVE YOU THAT SECURITY AND COMFORT REQUIRED,WHY SHOULD IT BE DIFFERENT FOR HUMANS? THE DAMAGING SOCIAL CONSEQUENCES OF THIS PERIOD OF GROTESQUE(SIC) HPI RUN VERY DEEP AND WILL IN YEARS TO COME BECOME MORE APPARENT AND UNDERSTOOD,ONCE GREED HAS SUBSIDED(ALL BE IT NOT PERMANTELY) I KNOW MANY PEOPLE WHOS LIVES HAVE BEEN DETRIMENTALY AFFECTED BY THE IN ABILITY TO BUY THEIR OWN HOME SO APOM IS NOT ALONE.............

That just silly! Most of my children were born in house rented not owned and they sufficed perfectly well as nests at that time. I guess that most people in the world are not the ultimate owner of their 'nests'. Apom could have rented in the south east like millions of others, whilst one has sympathy for his clearly deeply held feelings, to blame an abortion on HPI is a bit of stretch. As is your capslock rant thing.

Share this post


Link to post
Share on other sites
That just silly! Most of my children were born in house rented not owned and they sufficed perfectly well as nests at that time. I guess that most people in the world are not the ultimate owner of their 'nests'. Apom could have rented in the south east like millions of others, whilst one has sympathy for his clearly deeply held feelings, to blame an abortion on HPI is a bit of stretch. As is your capslock rant thing.

"capslock"was not asit seems,just not realizing they were on till i was halfway thru,so just lazy not ranting.....i did not justify the abortion portion i merely accepted how socially damaging high house prices are, i myself rent and have no problem with it in fact it has been a financial bonus but when we brought up our children it was in our own "nest" and it was not until we could afford it we felt comfortable in doing so.Eveyone feels differentely btb about their security so lets agree to disagree,eh, some people only want prices to decrease so they can have financial gain others for more altruistic reasons...........

Share this post


Link to post
Share on other sites
That just silly! Most of my children were born in house rented not owned and they sufficed perfectly well as nests at that time. I guess that most people in the world are not the ultimate owner of their 'nests'. Apom could have rented in the south east like millions of others, whilst one has sympathy for his clearly deeply held feelings, to blame an abortion on HPI is a bit of stretch. As is your capslock rant thing.

Council house or private landlord? Can make a big difference in thw rong circumstances.

Share this post


Link to post
Share on other sites
That just silly! Most of my children were born in house rented not owned and they sufficed perfectly well as nests at that time. I guess that most people in the world are not the ultimate owner of their 'nests'. Apom could have rented in the south east like millions of others, whilst one has sympathy for his clearly deeply held feelings, to blame an abortion on HPI is a bit of stretch. As is your capslock rant thing.

Since the Housing Acts of the 1980s and 1990s, tenants have far fewer rights, so renting from a private landlord has become a lot less secure than it used to be.

Personally, I wouldn't want to be an Assured Shorthold Tenant with young kids, knowing I could be evicted from my home at any time with a month's notice, as is normally the case these days.

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...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 301 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.