Jump to content
House Price Crash Forum
Sign in to follow this  
eurows

Brown Mentions Housing Bubble For The First Time

Recommended Posts

UK economic growth will be lower than he expected, Gordon Brown has said.

Speaking to the BBC ahead of an IMF meeting, he blamed events such as a sluggish global economy, oil price rises and a "house price bubble".

http://news.bbc.co.uk/1/hi/uk_politics/4277300.stm

Which, of course, he had nothing to do with since he made the BoE "independent". :lol:

Share this post


Link to post
Share on other sites
UK economic growth will be lower than he expected, Gordon Brown has said.

Speaking to the BBC ahead of an IMF meeting, he blamed events such as a sluggish global economy, oil price rises and a "house price bubble".

http://news.bbc.co.uk/1/hi/uk_politics/4277300.stm

This seems like a very significant statement to me. Why would he say this? He will have chosen his words very carefully. Does he want to bring house prices down, and if so why?

Share this post


Link to post
Share on other sites

Maybe he wants Tony to have a heart attack and make way for him as PM.

Notice he did not acknowledge the bubble till AFTER Tony speculated on 3 or 4 homes.

BAB

Edited by BayAreaBear

Share this post


Link to post
Share on other sites
he said the government have cut debt - have i been asleep for 10 years and everyone's paid off their ccs etc.?

Either that or he's an elephant, way back when he took over he cut debts when times were good, he actually just stuck to Clarke's spending plans, but that was a long time ago, he has really let rip since the second term and all that went out the window... since then it's been all 3G money, new windfall taxes and the endless issuance of gilts, and the tweaking of FSA rules to ensure pension funds are forced to purchase bonds and gilts (thus keeping yields down).

Edited by BuyingBear

Share this post


Link to post
Share on other sites
This seems like a very significant statement to me. Why would he say this? He will have chosen his words very carefully. Does he want to bring house prices down, and if so why?

We are being primed for the inevitable.

Share this post


Link to post
Share on other sites
We are being primed for the inevitable.

Gordon actually using the expression "house price bubble" is enormously significant in my view.

Economic commentators such as David Smith have refused to acknowleddge a bubble has even existed and only the BoE has skirted around using the phrase.

This, perhaps surprisingly, puts Gordon in the "I believe there is a bubble" camp.

I'm prepared to give him a bit of credit for admitting that, even though it is the disastrous economic policies he pursued since 2001 which caused the bubble.

Now - when is Gordon going to use his pricker ? :P

Share this post


Link to post
Share on other sites
This seems like a very significant statement to me. Why would he say this? He will have chosen his words very carefully. Does he want to bring house prices down, and if so why?

Why? Perhaps because it has been extremely destructive for the economy and society? The effects were masked by all of the easy money floating around for the past 5-10 years, but the chickens are coming home to roost. The eggs are being laid in the chimney pot of number 11, and are making a right bloody mess on the drawing room carpet as they explode in the fireplace.

p.s. It's good to know that the man at the helm of the UK economy is a bear. Look out for a wave of STRs in the government ranks. Westminister prices should start dropping quickly very soon.

Edited by Smell the Fear

Share this post


Link to post
Share on other sites

Gordon is possibly shifting his view from the purely economic to the social and political. From a purely economic view he may not give a toss that some people are priced out of the housing market. As long as they are working (paying tax) then it's none of his business.

Now if Tony decides to go and Gordon has his eye on No 10 that changes things. Al those people who keep complaining to their local MP's that they can't get on the property ladder/pay there mortgage/council tax etc will be important to him in the next couple of years.

Share this post


Link to post
Share on other sites

[size=1

yes, on the news he let the words ''Housing bubble'' slip through his lips.......

Reminiscent of Maggie Thatcher letting slip the words ''poll tax'' in the commons to guffaws of derision and catcalling from the opposition benches.........(She'd previously only called it by its proper name - ''the community charge''.......... and only opponents called it the ''poll tax'')

Share this post


Link to post
Share on other sites

Groaaann.

Anybody but the charmless Brown for PM;

Brown gearing up for PMs job

Really annoys me that the media are just waking up to this clown. How long have people on this and other forums been saying the same thing about him? Freakin' years I tell ya! Over the years it's been blindingly obvious what was happening in the UK economy (despite the rubbish the BOE/Brown have been trying to tell people).

Share this post


Link to post
Share on other sites
This seems like a very significant statement to me. Why would he say this? He will have chosen his words very carefully. Does he want to bring house prices down, and if so why?

I was only half watching the news when this came on and wasn't sure of the context - was he talking in terms of 'global' factors so not specifically mentioning this UK prices as a bubble?

Share this post


Link to post
Share on other sites
This seems like a very significant statement to me. Why would he say this? He will have chosen his words very carefully. Does he want to bring house prices down, and if so why?

Why....?

I have a theory...

His economy has to be based largely on how much we have left to spend after we have paid for life..

Now the people in massive debt have done their bit.... But can they get in more debt? not really..

so what if now there was a situation where money was pumped into the economy by those who didn't jump on the debt bandwagon?

That would be us... so how do we spend more..?

we get into a situation where we can afford a home.. cheeply and have more of our money left at the end of a month..

the economy now needs our deposits.. our savings...

It needs our non debt ridden salaried to start pumping money into the economy..

If I can get a house for reasonable money.. I will be in DFS.. DIxons..

Does the economy now need us to become more active now that the mewers and the debt ridden masses are worse then useless to it..?

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.