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cypher007

Osbourn Speech

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amongst other reasons for the current sh1t were in, he blamed high house prices and family over indebtitedness. well i recon ill have to play that one back. i thought the plan was to keep house prices high?

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yep it was a real reality check, 4 years too late, but at least they acknowledge that we aren't the nutters.

The economic problems manifesting in the market combined with the riots are the trigger for some serious houseprice falls, especially in the riot areas where the illusion of city centre apartments has gone up in flames. The areas with the big falls will be the ones affected by riots, whereas the lowest level of falls will be the safer areas that were unaffected.

Edited by enrieb

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amongst other reasons for the current sh1t were in, he blamed high house prices and family over indebtitedness. well i recon ill have to play that one back. i thought the plan was to keep house prices high?

But will his comments be reported in the mainstream media? Am sure the express will find some way to twist the words!

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amongst other reasons for the current sh1t were in, he blamed high house prices and family over indebtitedness. well i recon ill have to play that one back. i thought the plan was to keep house prices high?

Absolutely. Can't get a mortgage on a grotbox for 200k, then the obvious thing to do is go out and nick some trainers and torch a furniture store whilst at it. Oh - and not forgetting to smash the windows of a Ladbrokes while passing so you can nip in and place a free bet on the 3.30 at Newmarket.

:blink:

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amongst other reasons for the current sh1t were in, he blamed high house prices and family over indebtitedness. well i recon ill have to play that one back. i thought the plan was to keep house prices high?

Linky?

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But will his comments be reported in the mainstream media? Am sure the express will find some way to twist the words!

I'm only seeing it on a silent TV screen but the ticker suggests he's saying inflation predicted to 'increase' to 5%, 'growth' forecast downgraded and its down to global conditions, trouble in Europe, the USA .... saw no mention of house prices.

He's saying it started in America?

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yep it was a real reality check, 4 years too late, but at least they acknowledge that we aren't the nutters.The economic problems manifesting in the market combined with the riots are the trigger for some serious houseprice falls, especially in the riot areas where the illusion of city centre apartments has gone up in flames. The areas with the big falls will be the ones affected by riots, whereas the lowest level of falls will be the safer areas that were unaffected.

Nope, we aren't the nutters. We are the ones telling it as it really is and have been for years. Can't wait for it all to pass by then I can rename myself 'growth expert', in fact the optimistic name I should be. Just that the world has become a parallel world where nonsense has ruled for about 40 years and the real one in the shadows is coming out now to eat it alive.

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Not one mention of house price comment on the BBC.

No surprise there.

Well here are the words then:

Mr Osbourn "Unfortunately, the UK was perhaps the most eager participant in this boom, with the most indebted households, the biggest housing bubble, the most over-leveraged banks and the largest budget deficit of them all."

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If there's one thing that's guaranteed to spook the markets it's widespread rioting all over the country no matter how it's embellished with it's only teens and such like etc.

No amount of UK better placed, UK more stable, UK first out of recession, UK got the least debt, UK leading the world into recovery, 2% inflation in 2 years, the BoE is so brilliant and knows what it's doing, lowest base rates for half a millenium means the UK has a healthy economy and so on etc can get away from it so they have to come up with at least a few snippets of truth.

Edited by billybong

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Well here are the words then:

Mr Osbourn "Unfortunately, the UK was perhaps the most eager participant in this boom, with the most indebted households, the biggest housing bubble, the most over-leveraged banks and the largest budget deficit of them all."

Someone talking the truth at last.....amazing what a few days holiday can do for your senses. ;)

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hmm strange how he first says this:

In particular, a massive overhang of debt from a decade-long boom when economic growth was based on unsustainable household borrowing, unrealistic house prices, dangerously high banking leverage, and a failure of governments to put their public finances in order.

and then tries not to say "unrealistic house prices", when refering to the UK housing market. instead he says "biggest housing bubble". guess he doesnt want to spook the sheeple to much and probably hopes most dont know what a housing bubble is.

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Well here are the words then:

Mr Osbourn "Unfortunately, the UK was perhaps the most eager participant in this boom, with the most indebted households, the biggest housing bubble, the most over-leveraged banks and the largest budget deficit of them all."

And these words from the same speech:

In particular, a massive overhang of debt from a decade-long boom when economic growth was based on unsustainable household borrowing, unrealistic house prices, dangerously high banking leverage, and a failure of governments to put their public finances in order.

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actually now ive read through the text again, hes essentially saying we had a housing bubble, as in the past :blink: . guess he wasnt going to say have a housing bubble after all. oh well sorry if i got anyones hopes up of an MP telling the truth for a change.

Edited by cypher007

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And these words from the same speech:

In particular, a massive overhang of debt from a decade-long boom when economic growth was based on unsustainable household borrowing, unrealistic house prices, dangerously high banking leverage, and a failure of governments to put their public finances in order.

Correct....the more we have to pay on rents and housing the less we have to spend on everything else....no money left to spend on productivity = no healthy growth = stalemate. ;)

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Admitting that house prices are 'unrealistic' does not lead to a HPC.

People have known its been bonkers for 5+ years and nothing much has changed. At least not in London/SE.

Edited by DoctorJ

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Correct....the more we have to pay on rents and housing the less we have to spend on everything else....no money left to spend on productivity = no healthy growth = stalemate. ;)

yeah trouble is in this paragraph he's actually referring to other countries.

Edited by cypher007

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Admitting that house prices are 'unrealistic' does not lead to a HPC.

People have known its been bonkers for 5+ years and nothing much has changed. At least not in London/SE.

Bankers try to make their money from the rest of the world and gambling on commodities.....split the banks and let the high risk flyers do their worst.....the rest of us require real jobs and stability...give the people a chance. ;)

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Someone talking the truth at last.....amazing what a few days holiday can do for your senses. ;)

:lol:

And listening to him now on BBC Parliament questions from the House, he has just repeated his original message in his statement.

Roughly along the lines of....

"that the last decade has taught us that relying on an unsustainable housing boom, unsustainable government spending, unsustainable bank lending is not a model of growth the UK can pursue again. We have got to get off this country's addiction to debt,

It will be particularly hard for the UK because we have been the most enthusiastic participants in this debt boom..."

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Osborne knew his speech would get worldwide coverage. He wasn't talking to us, he was talking to the foreigners he wants to buy our debt, to fund our ever growing black hole.

He was pretending that the coalition are different to Labour. That we are having meaningful cuts and that we don't have a housing minister in the hip pockets of VIs, trying to blow up another housing bubble by encouraging loose lending and "innovative" mortgage schemes.

It was all lies, notice he didn't mention his "independent" OBR have forecast household debt to grow all through this parliament.

Edited by Redhat Sly

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Am I the only one thinking they are today saying they know how incompetent the BoE have been etc yet still they let the BoE continue with the same rotten policies and give out Honours to the people who presided over the bubble that messed all over the United Kingdon

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  • 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%



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