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House Price Crash Forum

An Alternative To Mark-To-Market / Mark-To-Model?


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OK, not completely, but how about a system where the "book price" of a house that is on the ledger of a bank / business / whatever, can only be marked at a price dictated by a central body, based on the council tax at that property?

Presumeably, at the monute, companies can mark their asseets however thety like, as to whatever suits them best in the current market (abviously within some framework)? How is the asset "price" chosen? Is it via valuations made by the local estate agents?

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OK, not completely, but how about a system where the "book price" of a house that is on the ledger of a bank / business / whatever, can only be marked at a price dictated by a central body, based on the council tax at that property?

Presumeably, at the monute, companies can mark their asseets however thety like, as to whatever suits them best in the current market (abviously within some framework)? How is the asset "price" chosen? Is it via valuations made by the local estate agents?

That's all very well in a non-corrupt world, but you know, as well as I do, that the moment assets are marked realistically, the whole dog and pony show that is the housing and financial markets, and the economy, will collapse like a house of cards.

So I'm afraid it's a pipe dream. We'll get low house prices in the end, but we'll have to rely on the undeniable effects of grim reality to eventually set in, rather than a quick fix, where the crooks that run the show just pack up and go home.

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