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laughing_goat

Mew Up!

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i see it as an excuse not to drop interest rates. that and with the recent 'surge' in manufacturing activity.

Absolutely!

Last year the BOE went on there rate rise drive to try and damped consumer borrowing (I think). If it picks up again, surely rate will have to rise?

Also, if more people are MEWing, then surely mass negative equity would come about soon, as I see little real evidence of house prices going upwards. <_<

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Absolutely!

Last year the BOE went on there rate rise drive to try and damped consumer borrowing (I think). If it picks up again, surely rate will have to rise?

Also, if more people are MEWing, then surely mass negative equity would come about soon, as I see little real evidence of house prices going upwards. <_<

The BOE has ballsed it up again - the only thing their economic micromanagement of the economy has done is create debt and increased the cost of living and the cost of business invesment - just look at the price of land - no chance that majority of companies will expand in the UK and reducing chance that people will start businesses (see Scottish press article yesterday) and all of this convenienttly hidden from the CPI.

More debt the bigger the crunch, and the longer high costs prevail the more future business will be paralysed.

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Lots of people are mewing to buy abroad in my opinion, especially in newer destinations such as North Cyprus, Turkey, Croatia, Slovenia, Bavaria, Slovakia, Bulgaria, Estonia and Morocco.

You Bears missed the UK boom, many of you staying out as you thought it looked to have peaked in the late nineties. I cant understand why you will allow the new boom areas (Baltic states, Germany, Morocco, Slovakia, Slovenia, Cape Verdes) to again pass you by. Go on, take a risk for once

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Debt can quite easily hit a point where debt leads to debt..

as outgoings to service debt do not leave enough to allow even subsistance living more debt is required..

This cannot be maintained and Mewing into a falling market smacks of desperation..

We are seeing high street recession as people are not spending enough to keep the economy growing as they don;t have enough to..

Certainly there are people out there who can;t afford enough after debt to even live..

I would doubt that people are mewing to buy a new car that much anymore..

perhaps some were going for a new mortgage to get the lower fixed rate of a month ago..

perhaps they freed up some spending money...

Economially house prices will fall..

More debt means they fall faster.

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I cant understand why you will allow the new boom areas (Baltic states, Germany, Morocco, Slovakia, Slovenia, Cape Verdes) to again pass you by

Hmm, let's see: because we're not evil enough to price poor foreign people out of a home just to make a quick buck?

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Lots of people are mewing to buy abroad in my opinion, especially in newer destinations such as North Cyprus, Turkey, Croatia, Slovenia, Bavaria, Slovakia, Bulgaria, Estonia and Morocco.

You Bears missed the UK boom, many of you staying out as you thought it looked to have peaked in the late nineties. I cant understand why you will allow the new boom areas (Baltic states, Germany, Morocco, Slovakia, Slovenia, Cape Verdes) to again pass you by. Go on, take a risk for once

fair play to them. i would expect that the majority of mewers though will be doing so to buy more cheap imported crap and make a few last desperate improvements to their houses...

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Hmm, let's see: because we're not evil enough to price poor foreign people out of a home just to make a quick buck?

For the most part.. the contributers on here are looking to buy a home..

any money made by me in this life will be earned.

And a lot of us could buy today...

We are also looking at the markets with an educated eye.

The good guys finish last..

But what price a clear conscience..

Also.. I couldn't look at money I had made.. realised that the "last Man in" (current investors) were niave enough to give it to me.. and feel proud of myself

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Exactly. Having been priced out of the market here for years by property speculators, there's no way in hell I'm going to do the same to some poor bastards abroad who just want a place to live for a price they can afford on their local wages.

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Lots of people are mewing to buy abroad in my opinion, especially in newer destinations such as North Cyprus, Turkey, Croatia, Slovenia, Bavaria, Slovakia, Bulgaria, Estonia and Morocco.

You Bears missed the UK boom, many of you staying out as you thought it looked to have peaked in the late nineties. I cant understand why you will allow the new boom areas (Baltic states, Germany, Morocco, Slovakia, Slovenia, Cape Verdes) to again pass you by. Go on, take a risk for once

Dogbox,

I am looking to buy a home, admittedly, a larger home than the local EA says I can afford, but utimately just a home. Property investment with the aim of making money does not interest me. Mainly because I only ever invest money that I can afford to loose, so the idea of taking out a potentially huge loan to try and make money, seems like madness to me. Yes, I know that properties in Slovakia or Northern Cyprus may not nessesarily require a huge amount of cash, but it is still a sizable risk and requires a lot of 'homework', homework I have little time to do (probably because I'm on here moaning - but never mind) and homework that I believe most brits abroad don't do.

So yeah, if I had the money spare and the time to investigate, I agree it would probably be a very good move (with the exception of Northern Cyprus). But ultimately MEWing to fund it, is getting into debt in order to speculate, which is very risky.

LG

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Debt can quite easily hit a point where debt leads to debt..

as outgoings to service debt do not leave enough to allow even subsistance living more debt is required..

This cannot be maintained and Mewing into a falling market smacks of desperation..

We are seeing high street recession as people are not spending enough to keep the economy growing as they don;t have enough to..

Certainly there are people out there who can;t afford enough after debt to even live..

I would doubt that people are mewing to buy a new car that much anymore..

perhaps some were going for a new mortgage to get the lower fixed rate of a month ago..

perhaps they freed up some spending money...

Economially house prices will fall..

More debt means they fall faster.

I would say this is correct. People are worried so MEWing drops for a few months as people decide to attack their debts. However they can't survive on their normal income so it rebounds a few months later as people try and pay of their CC. Of Course they are all saying to themselves this is the last time.......

Edited by since the beginning

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Hmm, let's see: because we're not evil enough to price poor foreign people out of a home just to make a quick buck?

Them evil, what about you?

I might be confusing you with another poster, but isnt it you that has scant regard for our unique and beautiful planet? Isnt it you that considers consuming 'things' (read, a load of rubbish that none of us really needs), and driving awful thirsty 4 x 4s is somehow acceptable yet investing in property is to be scorned upon?

Edited by dogbox

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Guest Bart of Darkness
Lots of people are mewing to buy abroad in my opinion

Links? Graphs? Stats?

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Guest Guy_Montag

One of my colleagues (amature BTL - kept his old house when he moved to let) just mewed 15k to buy a Jag E-type (already has an MG B & a proper car). Only bought his current house, the one he mewed on, 1 year ago. Mewed on perceived increase not on what he'd paid off.

This is all up north, so his house may have risen over the last 12 months, but it must be pretty close to the top.

& his tenants are moving out at the end of the month.

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Links? Graphs? Stats?

[ Inapropriate text removed by Moderator ]

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I wonder about this bit in the bbc report (especially the "this year" bit)

The latest upturn in this form of borrowing may be linked to the increase in the number of property sales in the UK this year.

WTF not on my watch. YOY sales in plymouth are about half of 2004 (lad reg mar - may 04 vs mar - may 05)

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One of my colleagues (amature BTL - kept his old house when he moved to let) just mewed 15k to buy a Jag E-type (already has an MG B & a proper car). Only bought his current house, the one he mewed on, 1 year ago. Mewed on perceived increase not on what he'd paid off.

This is all up north, so his house may have risen over the last 12 months, but it must be pretty close to the top.

& his tenants are moving out at the end of the month.

A colleague of mine is in a simular situation, she MEW'd to provide a deposit on an investment property, effectively giving herself a 100% mortgage in order to speculate in property. She has a tennant, a council tennant, whose rental payments don't cover the mortgage (only covers about 75% of the monthly payments). She, of course believes that the value will go up, it may well do. But paying interest on the MEW'd money as well as 25% of the mortgage seems quite a strange way to make money to me. She now can't afford to go out or shop anywhere but Lidl, this all seems mad and pointless.

By the way Guy_Montag, unless I'm mistaken, your post suggests that an MG B is not a proper car! Disgraceful!

Edited by laughing_goat

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dogbox, you rattle off a list of countries that bears should look at. Obviously a big fan of TV programmes.

Have you actually been to places like Cape Verde? One of the poorest countries on earth. It survives on UN food parcels. Water is extremely scarce.

North Cyprus? Where most of the land sooner or later will be returned to the owners who were driven out by the Turkish army?

Bulgaria? You're five years too late there too. Prices are starting to fall there because like so many other Eastern bloc countries, locals won't pay the higher prices so you need more Brits to come along.

Why not go the whole hog and buy a villa in Baghdad.

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dogbox, you rattle off a list of countries that bears should look at. Obviously a big fan of TV programmes.

Have you actually been to places like Cape Verde? One of the poorest countries on earth. It survives on UN food parcels. Water is extremely scarce.

North Cyprus? Where most of the land sooner or later will be returned to the owners who were driven out by the Turkish army?

Bulgaria? You're five years too late there too. Prices are starting to fall there because like so many other Eastern bloc countries, locals won't pay the higher prices so you need more Brits to come along.

Why not go the whole hog and buy a villa in Baghdad.

i considered iraq but Baghdad is seriously expensive. http://www.viviun.com/AD-10115/

675k and it only 'currently' has electricity.

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maybe MEW is up due to sheeple 'paying off' all those credit cards,personal loans, car finance etc and

having just one monthly payment? mm for the next 25 years...., of course the credit cards will be maxed out again in a few years.... :huh:

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I would say this is correct. People are worried so MEWing drops for a few months as people decide to attack their debts. However they can't survive on their normal income so it rebounds a few months later as people try and pay of their CC. Of Course they are all saying to themselves this is the last time.......

Just to help you all feel better - I am one of these very recent mewers (came through last week), and I have done it simply to get out of debt! My job contract comes to an unexpected end very soon and I had to do something to help me keep going in next few months while I search for a new job. Some of you on this site guessed that's what's going on, and I think you're right. Tony Dolphin (or should it be shark?) thinks it's proof of consumer confidence. Idiot. By the way, I'm new here, and I love this site.

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  • 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%



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