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Olympic Ticket Mania

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http://www.bbc.co.uk/news/magazine-13206286

From the anecdotal evidence, as well as the raw statistics, there will be plenty of people taking an unexpectedly big financial hit in a few weeks' time.

Could it be enough ultimately to push people over the edge and create some forced sellers in the housing market?

I don't think so. Not enough numbers involved. The majority of people who requested tickets will not get them anyway and those that do get some will have plenty of opportunity to move them on.

I expect a few headlines from people complaining becasue they got what they asked for but not enough to make a difference to the housing market.

The Olympics in general if we have good weather could indeed produce a feelgood factor that those on this site should be more concerned about. Maybe .

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I don't think so. Not enough numbers involved. The majority of people who requested tickets will not get them anyway and those that do get some will have plenty of opportunity to move them on.

That's where I have doubts. They say that around 50% of events will go to a ballot which suggest that a very large number of people will get just what they asked for, and won't have an opportunity to resell for quite some time. I would think these people are disproportionately likely to have large debts/MEW so there could be a real impact.

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http://www.bbc.co.uk/news/magazine-13206286

From the anecdotal evidence, as well as the raw statistics, there will be plenty of people taking an unexpectedly big financial hit in a few weeks' time.

Could it be enough ultimately to push people over the edge and create some forced sellers in the housing market?

Naah I think the tipping point will be all those people going out and buying too many hanging baskets this spring.

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That's where I have doubts. They say that around 50% of events will go to a ballot which suggest that a very large number of people will get just what they asked for, and won't have an opportunity to resell for quite some time. I would think these people are disproportionately likely to have large debts/MEW so there could be a real impact.

I agree we have plenty of daft buggers in the uk. I put a request in for tickets and throughout the process it was quite clear that you may end up with everything you asked for. It even repeats it before you give any financial details. Yep quite a few will come unstuck but not in the numbers that will make any difference to house prices. Just my opinion though.

People were bidding high for the main events.. Opening and closing ceremonies and the mens 100 meter finals. These tickets will be like rocking horse shit and you will not need ebay to offload those. Like any event some folk will even make money.

On the other hand we will have plenty of individuals and companies who will be making good money with the fact that the Olympics are in our town.

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http://www.bbc.co.uk/news/magazine-13206286

From the anecdotal evidence, as well as the raw statistics, there will be plenty of people taking an unexpectedly big financial hit in a few weeks' time.

Could it be enough ultimately to push people over the edge and create some forced sellers in the housing market?

I dont see that the handfull of fools risking a lottery of £20k's worth of tickets is going to bring down the housing market or cause a spike in repo's do you? If a financial meltdown and bank collapses couldnt do it then I dont see the olympics doing it :lol:

All I expect is a chit load of olympic tickets being flogged on feebay to even greater fools.

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How will this bring down the market.

The people who win in the ballot (and I personally think everyone will win as I dont believe the spin on how successful the ticket launch has been) will simply refuse to pay up and if as part of the ticket/ballet proceess they had to commit credit/debit card details if they credit limit allows the transaction through then they will simply knock the banks, card companies.

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The people who win in the ballot (and I personally think everyone will win as I dont believe the spin on how successful the ticket launch has been) will simply refuse to pay up and if as part of the ticket/ballet proceess they had to commit credit/debit card details if they credit limit allows the transaction through then they will simply knock the banks, card companies.

You have to give your card details and they pre-authorise to verify the details.

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I think this talk of "a trigger" (even in fun, like this one) is to misconceive what is happening.

It is a massive, ponderous decadal event as prices decline in real terms and the bubble collapses. At each moment, on the ground nothing appears to be happening, but at the end the shape of the graph will be there as history, and the casualties will be on the floor and the survivors still standing. It is like watching paint dry. At the beginning of the day it is wet - at the end of the day it is dry. At no point does it appear to "happen".

(That doesn't mean we don't get the odd exciting event - like 2008 - and more to come no doubt.)

+1

Perfectly summed up.

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That's where I have doubts. They say that around 50% of events will go to a ballot which suggest that a very large number of people will get just what they asked for

I did wonder about that when i heard all these people on radio 4 hoping they don't get the tickets they paid for. What a canny way to sell tickets, make out people need to buy 2 or 3 times as many as they want and pay in advance. Genius.

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http://www.bbc.co.uk...gazine-13206286

From the anecdotal evidence, as well as the raw statistics, there will be plenty of people taking an unexpectedly big financial hit in a few weeks' time.

Could it be enough ultimately to push people over the edge and create some forced sellers in the housing market?

Interesting question. We would need to know how many billions would be taken off the hands of the high velocity monetary engines of our economy (the speculative house buying type) to get a proper feel for it.

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Ok, so we paid for it via our taxes, yet we have to pay full wack for the ticket, volunteers are told they can't go see the show, so are the people living in this country financially retarded? so we help pay for it, we work for free yet we have to pay full price, HaHa.

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I think this talk of "a trigger" (even in fun, like this one) is to misconceive what is happening.

It is a massive, ponderous decadal event as prices decline in real terms and the bubble collapses. At each moment, on the ground nothing appears to be happening, but at the end the shape of the graph will be there as history, and the casualties will be on the floor and the survivors still standing. It is like watching paint dry. At the beginning of the day it is wet - at the end of the day it is dry. At no point does it appear to "happen".

(That doesn't mean we don't get the odd exciting event - like 2008 - and more to come no doubt.)

This seems to sum things up quite well.

As for excessive ticket buying being a trigger for HPC... desperate suff.

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Ha.

That is very silly.

:). Another good one:

Dinesh Ranasinghe, from London, says he did not get carried away, despite applying for £20,000 worth of tickets.

"It was very well planned, I have spread the money across seven credit cards with the majority on two interest free credit cards so I will not have to pay interest. I did know what I was getting into and I have carefully planned my finance around it."

More credit than sense?

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I think this talk of "a trigger" (even in fun, like this one) is to misconceive what is happening.

It is a massive, ponderous decadal event as prices decline in real terms and the bubble collapses. At each moment, on the ground nothing appears to be happening, but at the end the shape of the graph will be there as history, and the casualties will be on the floor and the survivors still standing. It is like watching paint dry. At the beginning of the day it is wet - at the end of the day it is dry. At no point does it appear to "happen".

(That doesn't mean we don't get the odd exciting event - like 2008 - and more to come no doubt.)

Its a lot like the decline of the stock markets in the last decade. People who bought and held the whole decade look back and say wow I am actually down money from 10 years ago. In inflation adjusted terms, way down.

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:). Another good one:

More credit than sense?

Love the way "spreading across seven credit cards" somehow makes a difference.

Just typical of the ponzi economy this economic shithole this country has become - nay forced to be thanks largely to policies inflicted from the top.

Edited by OnlyMe

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Ok, so we paid for it via our taxes, yet we have to pay full wack for the ticket, volunteers are told they can't go see the show, so are the people living in this country financially retarded? so we help pay for it, we work for free yet we have to pay full price, HaHa.

I've read a lot about the Berlin 1936 Olympics. And what they did was try to sell out as many tickets as they could. But some events like preliminary rounds for some sports had hardly any tickets sold, so the state opened those up for everyone to come for free. So even minor events had a full stadium of people able to watch.

I think the Chinese did something similiar in their recent games. And it would work well in London, being such a large city surely every event should be filled up.

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Nope because the best seats and most expensive ones will only get allocated to foreigners. 100% guaranteed.

"London, fleecing visitors from overseas for hundreds of years."

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The Olympics in general if we have good weather could indeed produce a feelgood factor that those on this site should be more concerned about. Maybe .

That says it all. People on this site should be concerned about a feelgood factor.

So, what you are saying is that we require other people's suffering or at least feeling bad in order for us to prosper.

Hmm.

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