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Uk & Us Housing Mkt. Madness On Max Kaiser

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Very good. Max and Stacy just get it right don't they. ... and they've got the guts to say it.

Compare that show to the BBC. The beeb just looks totally ridiculous these days.

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Excellent. Good to have someone spell it all out on television. Sometimes I begin to think that I am imagining the whole thing. Wonder why the BBC had a guest and discussion like this before? :rolleyes:

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A pedant writes

I get fed up with the endless "Jim Jones Cult Drinking Kool-Aid" references. The Peoples Temple method for mass suicide was (mainly) a potion of Grape-mix "Flavor Aid", spiked with cyanide and valium.

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Excellent. Good to have someone spell it all out on television.

Keiser is pretty much the only person/show to do anything like this. He'd be taken off the air on almost any other station. Indeed, I'm still expecting the UK to somehow ban him/RT at some point.

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That RT disclaimer at beginning & middle of Maxs' show has appeared in last 2-3 months

Yes - I suspect RT has had threats and some nasty letters.

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IIRC Frizzers used to an hpc'er (perhaps old timers could confirm)

Yep, I remember him posting on here occasionally. I think his fellow podcaster Dr. Bubb (Michael Hampton) did too.

Back in the days when we thought it would be a simple house price correction. Hopeful times.

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Yep, I remember him posting on here occasionally. I think his fellow podcaster Dr. Bubb (Michael Hampton) did too.

Back in the days when we thought it would be a simple house price correction. Hopeful times.

Bubb was prolific here until he opened GEI, ramping gold back in 2004. Seemed to know what he's talking about.

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IIRC Frizzers used to an hpc'er (perhaps old timers could confirm)

Yep, I remember him posting on here occasionally. I think his fellow podcaster Dr. Bubb (Michael Hampton) did too.

Back in the days when we thought it would be a simple house price correction. Hopeful times.

Member profile HERE.

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Good show, watched this morning and would have been better if Max knew when to shut up and let his guest speak, rather than just having to nod at Max's rants.

One interesting factet is that half the land in the UK is currently unregistered. I guess all the good land is though. I'm slightly uncomfortable with this "only 7% of the landmass" is built. Unless you fancy living on some peat bog, or flood plain... oh hang on.

Interesting the similarity in naming of "Right To Buy" and "Help To Buy" trying to hark back to the 1980's "property owning democracy." But as I've posted before Thatcher didn't invent RTB. It was originally Labour Party policy and she wasn't particularly comfortable with it, but it won votes, so it was OK I guess.

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Good show, watched this morning and would have been better if Max knew when to shut up and let his guest speak, rather than just having to nod at Max's rants.

One interesting factet is that half the land in the UK is currently unregistered. I guess all the good land is though. I'm slightly uncomfortable with this "only 7% of the landmass" is built. Unless you fancy living on some peat bog, or flood plain... oh hang on.

Interesting the similarity in naming of "Right To Buy" and "Help To Buy" trying to hark back to the 1980's "property owning democracy." But as I've posted before Baroness Thatcher didn't invent RTB. It was originally Labour Party policy and she wasn't particularly comfortable with it, but it won votes, so it was OK I guess.

Wow, news to me. I had coming up with this down as one of her few mistakes.

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Wow, news to me. I had coming up with this down as one of her few mistakes.

'There's only housing bubble'.

Agree with that entirely, and them saying of Osborne's continued attempt at ponzi. Some of what Posen was being quoted in the first 5 minutes, I could have told you 20 years ago. The BoE officials should have been telling the public how it should have been 20 years ago, not now, and maintaining a policy to discourage HPI, and bankers lending to eager mortgage borrowers.

That housing shouldn't be used as an investment vehicle, malivested rather than capital deployed in more economically productive investments, such as train networks (not at HS2 sort of cost), business and enterprise and tech, and a slow stable healthy base that can withstand shocks within itself, and even buffer recessions in in other countries.

Then it suggests home-owners have been victims of some big conspiracy, rather than individual and mass irrationality and greed and deliberate further malinvestment, at the expense of others who refused to buy prices that went past beyond mania levels a decade ago..

Yes some media crap loving HPI for decades (again from individuals), but still older home-owning individuals the ones telling younger people they can't go wrong with property (for 2 decades and more), seeing it as an investment,

Worse still, home-owning 'victims' have still got all the mega gains! Prices here 15-25%+ up on 2007 peaks for the most part. They've not victims at all of anything. Wake me up when the sort of house I'd like to buy is £150K, rather than the £475K the home-owner thinks it's worth now.

Edited by Venger

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'There's only housing bubble'.

Agree with that entirely, and them saying of Osborne's continued attempt at ponzi. Some of what Posen was being quoted in the first 5 minutes, I could have told you 20 years ago. The BoE officials should have been telling the public how it should have been 20 years ago, not now, and maintaining a policy to discourage HPI, and bankers lending to eager mortgage borrowers.

That housing shouldn't be used as an investment vehicle, malivested rather than capital deployed in more economically productive investments, such as train networks (not at HS2 sort of cost), business and enterprise and tech, and a slow stable healthy base that can withstand shocks within itself, and even buffer recessions in in other countries.

Then it suggests home-owners have been victims of some big conspiracy, rather than individual and mass irrationality and greed and deliberate further malinvestment, at the expense of others who refused to buy prices that went past beyond mania levels a decade ago..

Yes some media crap loving HPI for decades (again from individuals), but still older home-owning individuals the ones telling younger people they can't go wrong with property (for 2 decades and more), seeing it as an investment,

Worse still, home-owning 'victims' have still got all the mega gains! Prices here 15-25%+ up on 2007 peaks for the most part. They've not victims at all of anything. Wake me up when the sort of house I'd like to buy is £150K, rather than the £475K the home-owner thinks it's worth now.

Its nearer five decades of HPI because it was around the 1960's that my parents got on the property ladder and not entirely irrational because there was no alternative, unless you went to the Council.

Prior to the 1960's property as an investment vehicle was pretty much a dud. I can recall in Northampton, up until the 70's when I started work, that the older terraced properties were for a long time pretty much unwanted and were hardly worth more than their original build price. They starting rising rapidly in price from about the 1970's onwards.

During this time of course, we have appeared wealthier despite our industrial base collapsing. A combination of North Sea Oil (and a kind of state rentierism quite common in Arab states) and HPI has kept the party rolling on.

I think without HPI and North Sea Oil we would have had a "British Spring" long ago.

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During this time of course, we have appeared wealthier despite our industrial base collapsing. A combination of North Sea Oil (and a kind of state rentierism quite common in Arab states) and HPI has kept the party rolling on.

I think without HPI and North Sea Oil we would have had a "British Spring" long ago.

You're absolutely correct. The malinvestment rot set in a long time ago, and North Sea oil treasure one of the fortunate finds to replace failing car manufacturing sector, that Germany powered away with.

Banks of the 2000s pushing it on with mega slack lending, to new generations of eager "it only goes up, we're a small island" from other lending markets (securitisation), rather than relying on depositors to leverage from. And to BTLers and second home-owners.

Yet the malinvested home-owning gainers have been protected. Those with big mortgages in their 30s and 40s, who should have suffered the consequences of buying into the mass hysteria of individuals in the belief in HPI, should have met the consequence, with a crash. Yet that would affect landlords, and value of homes for older owners who've done the best out of HPI.

It's not a conspiracy, just massive malinvestment encouraged by those who already own, and riding over those who were waiting for sense to come back to the market, and better value (who were dumb renters, and are now the enemy for many owners.)

Then older home-owners protected for all their massive gains, including the ones who still own from the 1950s-60s who bought for £3K. I helped an old guy and his wife cut back their hedge last Summer and they told me they bought their house for £4500 in mid 1950s. However when I said I was waiting for house prices to fall back before buying, the elderly woman said she couldn't see that happening, with a bit of a sneer at the thought. They love HPI, even though there's no real gain in it for them. It makes them proud and feel good (not all owners). Yet they've had their gain. A house to live in, bought cheap/affordable for the time. Him a dentist, mortgage paid off rapidly, and HPI massive gains thanks to 1970s cold-war inflation the US exported on the West as umbrella costs protection from USSR, then 80s and 2000s huge inflation on top.

Only gain for them now is to proudly claim what it's worth, and to pass on to their son + daughter-in-law/grandchildren in fat inheritance for a £380K-£400K house, whilst the cost is many productive non-owners remaining totally priced out, with the system encouraging them to pay or borrow massive sums to afford a basic house.

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http://rt.com/shows/keiser-report/episode-485-max-keiser-586/

Max & Stacey on Uk housing market again

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss how the ‘cult’ of Mark Carney is leading to food inflation, as well as housewives outstripping inflation. Meanwhile, George Osborne’s welfare reforms see £11.8 billion ‘saved’ from housing benefits, while £12 billion of taxpayer money is set aside to subsidize mortgages of up to £600,000 for the second phase of the Help to Buy scheme. In the second half of the program, Max talks to Simon Rose of SaveOurSavers.co.uk about forward guidance, real inflation, and George Osborne’s speculative schemes.

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