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eric pebble

All Debate About Crazy House Prices Is Suppressed:

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Ha!! Someone's gone and fixed it..... for now. :rolleyes:

But -- on a more general point....

How much longer do you think people - particularly younger people -- are going to TAKE the present state of affairs??

The cost of putting a roof over your head has become CRIMINALLY insane.

HOW MUCH MORE OF THIS CAN PEOPLE TAKE????

Edited by eric pebble

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Although I agree with you Eric about housing and legislation being out to lunch, and unfair, I still don't see starving children out on the street.

It's expensive yes, but not to the degree that we're facing a famine for the masses.

There are plenty of worse places to be.

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Ha!! Someone's gone and fixed it..... for now. :rolleyes:

But -- on a more general point....

How much longer do you think people - particularly younger people -- are going to TAKE the present state of affairs??

The cost of putting a roof over your head have become CRIMINALLY insane.

HOW MUCH MORE OF THIS CAN PEOPLE TAKE????

Surely, it's over ? nobody is buying

how much longer ? I think 2018 will be the bottom. What the economy will look like then, heaven's knows.

Posted this on the Southeast thread as its sales fit the bubble well

chocolate box cottage a sign of the madness

Sold for £166,500 in 1999

Buyers added a conservatory style extension to the back of property.

Sold for £367,000 in 2006

so, a £200k increase in 7 years.

Listed for sale at £385,000 in February 2013

so an £18K increase in 7 years, buyers would have paid £11k in stamp duty in 2006 so leaving them ~1K per year in hand

A drop of less than 1% and, oh dear.

Not a lot of headroom in the price or inside the property ;)

Stagnant market, wrecked economy

Edited by LiveinHope

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Although I agree with you Eric about housing and legislation being out to lunch, and unfair, I still don't see starving children out on the street.

It's expensive yes, but not to the degree that we're facing a famine for the masses.

There are plenty of worse places to be.

Not untrue....

But...........

I REALLY do wonder how many people out there are seriously Peed off with things as they are....

It has got beyond a joke now.

This country has been absolutely destroyed by the Banksters and the speculators. SO many people MUST think this -- surely !!!!

It's just that they're NOT heard!!??!!

Edited by eric pebble

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The key is simple , the situation is not only being tolerated but actively supported by dispossessed . This will remain the case as long as they feel they may one day 'get on the ladder' and enjoy what they see as its fruits .

There is no surpression of debate , you can't move on the Internet , newspapers, radio phone inspect etc without a debate on house prices emerging and they are often balanced even if you don't think so .

The problem for us (HPC ers) is not that our voices are unheard , it's that nobody agrees with us .

There is no criminal conspiracy going on , just an aspirational carrot is dangled in from of most people and they want it. Besides , they have seen the ponzi work for the boomers and want some of it themselves .

I font even think a crash will scare them , I recall most people's attitude during the 15% interest rates , price drops , and repossessions of the early 90's was that this was a buying opportunity . ( they were right in hindsight)

It will take a crash of calamitous proportions to change the mindset , there will be no gentle end to the madness as that would require a controlled drop via a land tax or similar . Some hope

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Not untrue....

But...........

I REALLY do wonder how many people out there are seriously Peed off with things as they are....

It had got beyond a joke now.

This country has been absolutely destroyed by the speculators. SO many people MUST think this -- surely !!!!

It's just that they're NOT heard!!??!!

I think they've heard. Just as they know its bad to smoke, drink excessively, and sleep with your mates partner.

The best explanation I can muster follows in illustrative format:

Ostrich-man-head-in-sand.gif?bfc6c1

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This country has been absolutely destroyed by the Banksters and the speculators. SO many people MUST think this -- surely !!!!

I think you overestimate the percentage of the population that are capable of independent thought

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I think you overestimate the percentage of the population that are capable of independent thought

Oh I dunno..........!!?!

Some days I think -- There must be SOME hope that people will see the wood for the trees....

But then you see all the Cr@p on tv -- and hear/see people like Boulger getting airtime on the media as so-called "experts" - peddling the VI agenda -- .............

,................ And I just feel total despair.

Total despair.......... :ph34r:

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Oh I dunno..........!!?!

Some days I think -- There must be SOME hope that people will see the wood for the trees....

But then you see all the Cr@p on tv -- and hear/see people like Boulger getting airtime on the media as so-called "experts" - peddling the VI agenda -- .............

,................ And I just feel total despair.

Total despair.......... :ph34r:

been though that, when you come out the other side it is very tranquil. Don't give a flying feck anymore.

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Eric, don't get your self bummed out on things out of your control.

Remember that Britain still has some damn good qualities. Wicked sausages, single malt whisky, beer, cider & scrumpy, some of the rock music ever written, Cornish pasties, ploughman's lunch, David Attenborough, Triumph motorcycles. More of course.

Go enjoy one or more of those tonight.

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Eric, the explanation is straightforward: if the UK housing market is allowed to correct then the UK financial system will collapse in a repeat of 2008 and in doing so incur such costs that the damage may be impossible to repair with public money. House price crash = probable sovereign default. I suspect that Osborne and King believe that if they can broadly maintain bubble prices while inflating the rest of the economy then a second, utterly ruinous financial crash can be averted.

Mervo practically admits that FLS is another bailout, here:

http://www.guardian.co.uk/politics/2013/apr/24/osborne-extend-funding-lending-businesses

Sir Mervyn King, governor of the Bank of England, who is to retire in June, said banks would still need to the raise £25bn to bolster their capital cushions, which had been identified by the new Prudential Regulation Authority.

He said the change to the FLS "is valuable as it gives banks continued assurance against the risk that market funding rates increase".

"Today's announcement is, however, a complement to, not a substitute for, ensuring that our banks are adequately capitalised," he added.

The Bank "has sought and received an assurance" from the government that the objectives of the extended FLS remain within its remit which is being reviewed at a time when it has been holding off from pouring more electronic money into the economy through quantitative easing.

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Eric, the explanation is straightforward: if the UK housing market is allowed to correct then the UK financial system will collapse in a repeat of 2008 and in doing so incur such costs that the damage may be impossible to repair with public money. House price crash = probable sovereign default. I suspect that Osborne and King believe that if they can broadly maintain bubble prices while inflating the rest of the economy then a second, utterly ruinous financial crash can be averted.

Mervo practically admits that FLS is another bailout, here:

OK. But rather than lie to us -- AND - most importantly - Rather than let the Banksters get off scot free...

1 - They should just outright admit is has all been a disaster - and CANNOT be allowed to happen again;

2 - Banksters behind this should be put on trial - and jailed accordingly.

Just doing these 2 things will be CATHARTIC for this country. We NEED this to happen. NOW.

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Eric, the explanation is straightforward: if the UK housing market is allowed to correct then the UK financial system will collapse in a repeat of 2008

Is that actually the case? I don't know that a return to the prices of ten years ago will wipe out a large proportion of mortgage debtors, it will just put most of those that bought during the bubble in negative equity.

I favour the solution of higher interest rates, those that borrowed irresponsibly wont be able to make their payments and will be repossessed, deservedly so. That can't be a large proportion of the houses in the uk, have *most* mortgage debtors 'bought' in the bubble or borrowed against fictional property value? Most?

I believe the incentive to prop it up isn't to save the masses from their own stupidity, it's to keep the money coming in to those at the top who have the governments ear and are benefitting from the current unsustainable situation. Every month it continues is a win for them, and so it staggers on.

The question for those of us who see it is this - do we join in with the vested interests and overborrow on the assumption that they can keep the plates spinning long enough for us to pay down our debt, or do we await the inevitable and buy when it all collapses? Hard to judge just how long they can keep this up when they are quite prepared to destroy all else in its favour.

Corruption and greed at the expense of the majority, same as it ever was sadly.

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Although I agree with you Eric about housing and legislation being out to lunch, and unfair, I still don't see starving children out on the street.

It's expensive yes, but not to the degree that we're facing a famine for the masses.

There are plenty of worse places to be.

You don't see the starving children but they are there. Lots of things happen without it being visible for all to see:-

The hunger on all our doorsteps: Food bank demand trebles

Edited by Giordano Bruno

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You don't see the starving children but they are there. Lots of things happen without it being visible for all to see:-

The hunger on all our doorsteps: Food bank demand trebles

We've had a few threads on this before. I am always suspicious of these numbers, and that a fair ratio of the people going there are not really financially constrained to be there; free lunch instead of giving up vice, addiction, or are just plain greedy and insincere.

I used one in my 20's, once, got a bag of rice and some tinned stuff, because I was so skint and out of college... I couldn't afford anything, and felt really ashamed. But I did notice the apparel of some folk receiving stuff there, not much for tattered rags and not many emaciated, gaunt faces.

Never again hopefully.

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We've had a few threads on this before. I am always suspicious of these numbers, and that a fair ratio of the people going there are not really financially constrained to be there; free lunch instead of giving up vice, addiction, or are just plain greedy and insincere.

I used one in my 20's, once, got a bag of rice and some tinned stuff, because I was so skint and out of college... I couldn't afford anything, and felt really ashamed. But I did notice the apparel of some folk receiving stuff there, not much for tattered rags and not many emaciated, gaunt faces.

Never again hopefully.

There have been reports recently of teachers having to bring in food for their pupils because the pupils were fainting in class from hunger.

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OK. But rather than lie to us -- AND - most importantly - Rather than let the Banksters get off scot free...

1 - They should just outright admit is has all been a disaster - and CANNOT be allowed to happen again;

2 - Banksters behind this should be put on trial - and jailed accordingly.

Just doing these 2 things will be CATHARTIC for this country. We NEED this to happen. NOW.

What? Are you mad? Look how we are going after these old (alleged) paedophiles. We're busy with important stuff, like hunting down who touched who forty years ago. We've haven't got the time to pursue errant bankers as well, I mean, they are still alive and might mount a defence.

/ fake police hat off

I agree with you Eric. But there's no will for it, as the main benefactors are the ones who need to start the proceedings.

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... I recall most people's attitude during the 15% interest rates , price drops , and repossessions of the early 90's was that this was a buying opportunity . ( they were right in hindsight)

As were those who bought in Q1 2009, at the nadir of the most recent crash. Particularly true in London and the South East.

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But -- on a more general point....

How much longer do you think people - particularly younger people -- are going to TAKE the present state of affairs??

The cost of putting a roof over your head has become CRIMINALLY insane.

HOW MUCH MORE OF THIS CAN PEOPLE TAKE????

It's pretty hopeless. Even when prices were falling in 2008 before state backed reinflation policies, too many non owners were calling those in heavy mortgage debt victims, repossession a tragedy, and claiming big debtors 'just wanted a home', when the majority thought themselves clever debtors and renting dead money. Such attitudes practically gave a green-light for the state for reinflation and market manipulation, to sentence millions more young people coming through to years of unfairness, supporting high house prices at extreme highs.

Best you can hope for is in 200 years the historians of the day may kick through internet records of the idiot-boom-reinflation years, and the people of the time might honour you as Saint Eric 'The Honest.' For your blunt truth against society's enthusiasm for ever higher house prices, greater debt and liar-loans, corruption and deliberate ignorance in the financial sector, and your criticisms of Gordon Brown.

Or like at the end of that movie AI Artificial Intelligence, 2000+ years into the future robots from alien worlds come and kick through our electronic file databases, and may resurrect you eric from DNA traces, to give you a taste of home-ownership for a happy 24 hours of living, at realistic value, or perhaps even free in that future, so individuals aren't burdened to the system and free to do other things. The boom and all continued manipulation of high house prices has sent me crazy too now.

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Don't try to break your programming. There isn't a issue with crazy house prices, but there is an issue with mortgage availability and affordability. We need more government backed lending schemes such as shared ownership, and loans for deposits. :rolleyes:

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It is way way worse than they tell you on the TV, or even in the newspapers. Property, Europe, banking, all in deep deep doo doo. It is just a popcorn show now unless you are heavily invested. Some bad numbers for the UK this morning should kick start the next leg down. More downgrades ahoy IMO.

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It's pretty hopeless. Even when prices were falling in 2008 before state backed reinflation policies, too many non owners were calling those in heavy mortgage debt victims, repossession a tragedy, and claiming big debtors 'just wanted a home', when the majority thought themselves clever debtors and renting dead money. Such attitudes practically gave a green-light for the state for reinflation and market manipulation, to sentence millions more young people coming through to years of unfairness, supporting high house prices at extreme highs.

Best you can hope for is in 200 years the historians of the day may kick through internet records of the idiot-boom-reinflation years, and the people of the time might honour you as Saint Eric 'The Honest.' For your blunt truth against society's enthusiasm for ever higher house prices, greater debt and liar-loans, corruption and deliberate ignorance in the financial sector, and your criticisms of Gordon Brown.

Or like at the end of that movie AI Artificial Intelligence, 2000+ years into the future robots from alien worlds come and kick through our electronic file databases, and may resurrect you eric from DNA traces, to give you a taste of home-ownership for a happy 24 hours of living, at realistic value, or perhaps even free in that future, so individuals aren't burdened to the system and free to do other things. The boom and all continued manipulation of high house prices has sent me crazy too now.

B)

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  • 243 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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