SleepyHead Posted August 13, 2013 Share Posted August 13, 2013 Joy for rail ticket owners! Rail Fares To Rise By 4.1% In January 2014 will fuel equity release consumer spending bonanza! Quote Link to comment Share on other sites More sharing options...
winkie Posted August 13, 2013 Share Posted August 13, 2013 Quote Link to comment Share on other sites More sharing options...
The Masked Tulip Posted August 13, 2013 Share Posted August 13, 2013 Joy for rail ticket owners! Rail Fares To Rise By 4.1% In January 2014 will fuel equity release consumer spending bonanza! LOL Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted August 13, 2013 Share Posted August 13, 2013 Selling pickaxes during a gold rush If house prices rising are so good for the economy then why not cash in and buy some Carpet Right shares? You don't have to own property to make money from rising prices. There again if you do not think rises are sustainable you could always try shoring the market STR, rent etc. Quote Link to comment Share on other sites More sharing options...
crashmonitor Posted August 13, 2013 Share Posted August 13, 2013 (edited) Don't know if anyway caught the Today programme this morning on radio 4.......basically the normal 3 hour programme was turned into a BBC journo rampathon (we were warned at 6 that this was going to be a house price special programme) with reports from Nottingham about houses selling like hot cakes and interspersed with interviews with RICs representatives at regular intervals. Should get the worried middle classes stumping up the necessary dosh to get their kids on the ladder before things get out of hand. If people believe, and they do now , then the market will go up irrespective of fundamentals. Edited August 13, 2013 by crashmonitor Quote Link to comment Share on other sites More sharing options...
Duffman Posted August 13, 2013 Share Posted August 13, 2013 Most people are suckers for spin and propaganda. particularly if it's what they want to hear. I find the best way to see what's really going on is to use the house I'm renting, of which there are a few similar always on the market or for rent, as a benchmark as to whether it's better to rent or buy. Safe to say, I'm considerably better off having rented it for the last seven years. And that is the crux of the problem! So many want and need to believe that it only takes a couple of positive reports for people to take leave of their senses once again! It's so ******ing maddening and frustrating!! Quote Link to comment Share on other sites More sharing options...
Errol Posted August 13, 2013 Share Posted August 13, 2013 When this comes crashing down the shock is going to be staggering. Quite appalling to see the Government/Banks etc encouraging people to basically destroy themselves. Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted August 13, 2013 Share Posted August 13, 2013 And that is the crux of the problem! So many want and need to believe that it only takes a couple of positive reports for people to take leave of their senses once again! It's so ******ing maddening and frustrating!! Yes, but that's the way it is, try not to get uptight about it, these things take time with many false dawns along the way. My best guess is that they may manage to keep prices artificially high until about the end of the decade or at least until after the election. If they don't it won't be for want of trying. Patience. Quote Link to comment Share on other sites More sharing options...
Duffman Posted August 13, 2013 Share Posted August 13, 2013 Yes, but that's the way it is, try not to get uptight about it, these things take time with many false dawns along the way. My best guess is that they may manage to keep prices artificially high until about the end of the decade or at least until after the election. If they don't it won't be for want of trying. Patience. Yeah, I reckon we will have to tolerate this until at least after the next election now. I was just starting to hope that things would start to really turn this autumn/winter. I remember waiting for the last election, thinking the same though! I agree with Errol, I just hope it actually happens in my lifetime. Quote Link to comment Share on other sites More sharing options...
R K Posted August 13, 2013 Share Posted August 13, 2013 Godfrey Bloom just tweeted, Not as much as we've learned about Bongo Bongo land. Quote Link to comment Share on other sites More sharing options...
winkie Posted August 13, 2013 Share Posted August 13, 2013 When this comes crashing down the shock is going to be staggering. Quite appalling to see the Government/Banks etc encouraging people to basically destroy themselves. ....but it won't be the people destroying themselves, it will be the governments/banks/savers and intermediaries being destroyed if/when the debts are all of a sudden dropped like a hot brick not worth holding or paying. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted August 13, 2013 Share Posted August 13, 2013 Not as much as we've learned about Bongo Bongo land. It's Ponzi Ponzi land I'm more concerned about. Quote Link to comment Share on other sites More sharing options...
LiveinHope Posted August 13, 2013 Share Posted August 13, 2013 (edited) ....but it won't be the people destroying themselves, it will be the governments/banks/savers and intermediaries being destroyed if/when the debts are all of a sudden dropped like a hot brick not worth holding or paying. I got rid of my TV 15 years ago because of all the cr4p on it. The Today porgramme is my regular listening from 6.00pm. If there was a radio licence I would no longer pay it . I am afraid that from today, I am now alienated towards morons, totally. I will have no compassion for anyone who jumps on this bandwagon with HTB and finds their life on hold for the next 30 years. Edited August 13, 2013 by LiveinHope Quote Link to comment Share on other sites More sharing options...
jfk Posted August 13, 2013 Share Posted August 13, 2013 Don't know if anyway caught the Today programme this morning on radio 4.......basically the normal 3 hour programme was turned into a BBC journo rampathon (we were warned at 6 that this was going to be a house price special programme) with reports from Nottingham about houses selling like hot cakes and interspersed with interviews with RICs representatives at regular intervals. Should get the worried middle classes stumping up the necessary dosh to get their kids on the ladder before things get out of hand. If people believe, and they do now , then the market will go up irrespective of fundamentals. It was horrendous to listen to ... the amount of foul language I was hurling at the radio Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted August 13, 2013 Share Posted August 13, 2013 Yeah, I reckon we will have to tolerate this until at least after the next election now. I was just starting to hope that things would start to really turn this autumn/winter. I remember waiting for the last election, thinking the same though! I agree with Errol, I just hope it actually happens in my lifetime. I wonder if a Conservative government might have sorted it out, as Mrs Thatcher did in 1979. But we got a weak, divided, coalition government, and anyway, Cameron is not a strong leader like Mrs T. Quote Link to comment Share on other sites More sharing options...
FreeTrader Posted August 13, 2013 Share Posted August 13, 2013 The high RICS reading and yesterday's press release from the CML regarding very strong FTB activity in June are giving the VIs a field day. On another thread cheeznbreed was speculating whether all this buzz is being primarily driven by increased sales of new builds, supported by HtB. Here's the CML numbers for June over the past few years (the latest reported month) and I've highlighted the large jump in average loan size for FTBs over the past year: Despite the big jump in FTB mortgage size, the average LTV for FTBs in June 2013 is unchanged from the same month last year (80%). So one question here is: do the CML figures exclude any additional top-up loan from the government under Help to Buy? I would presume that HtB is not included, and if that's the case then we're witnessing a pretty dramatic increase in FTB debt at the individual level. Incidentally, don't let Eric see the jump in average income for FTBs (although this could be due to a number of factors, e.g. an increased London/SE weighting). Interestingly, in its reports the CML doesn't use a straight arithmetic mean for the average loan size for FTBs. Rather than the £138,340 average in my table (which is £3.5bn divided by 25,300 loans) they quote an average FTB loan of £117,000 – which I can only assume is the median loan size. Irrespective of this the large jump has been the same in %age terms. CML has the average FTB loan £105,000 last year and £117,000 now. Unfortunately CML doesn't give figures so we can calculate the 2006 and 2007 averages, but according to the FSA the average loan size to FTBs for the whole of 2007 was £131,000. Quote Link to comment Share on other sites More sharing options...
rantnrave Posted August 13, 2013 Share Posted August 13, 2013 Based on all this property pron, how long before the Tories pull level with Labour in the polls? Quote Link to comment Share on other sites More sharing options...
Duffman Posted August 13, 2013 Share Posted August 13, 2013 I wonder if a Conservative government might have sorted it out, as Mrs Thatcher did in 1979. But we got a weak, divided, coalition government, and anyway, Cameron is not a strong leader like Mrs T. I doubt it! If the Tories really wanted to crash the market, the Lib Dems wouldn't have been able to stop them. More likely the Tories remember how unpopular the crash under their watch made them last time and in pursuit of a 2nd term, realised the last thing they could afford to happen was let the housing market correct! Quote Link to comment Share on other sites More sharing options...
Bruce Banner Posted August 13, 2013 Share Posted August 13, 2013 I doubt it! If the Tories really wanted to crash the market, the Lib Dems wouldn't have been able to stop them. More likely the Tories remember how unpopular the crash under their watch made them last time and in pursuit of a 2nd term, realised the last thing they could afford to happen was let the housing market correct! God preserve us from career politicians! Quote Link to comment Share on other sites More sharing options...
Duffman Posted August 13, 2013 Share Posted August 13, 2013 God preserve us from career politicians! Amen to that! I was taught brainwashed at school that Guy Fawkes was supposedly a bad man. Proof we are lied to from the moment we are able to listen!!! Quote Link to comment Share on other sites More sharing options...
zugzwang Posted August 13, 2013 Share Posted August 13, 2013 Amen to that! I was taught brainwashed at school that Guy Fawkes was supposedly a bad man. Proof we are lied to from the moment we are able to listen!!! Who knew that James Bond was Harold Wilson's austerity enforcer?! http://www.slate.com..._austerity.html Thanks to the miracle of Amazon Prime Instant Video I watched Goldfinger for free (or, rather, for no additional cost beyond a Prime membership that more than pays for itself in free shipping alone) Saturday afternoon. This was a favorite of movie of mine when I was a kid, but upon rewatching it turns out to deal with some important pieces of economic history that I think contemporary viewers are likely to have forgotten. But when you understand the policy context, you'll see this Goldfinger is, if not exactly the hero of the film, then at minimum a profoundly sympathetic character. The real villains here are a U.K. government hellbent on pursuing a misguided austerity policy and trying to blame smugglers for its failure. Quote Link to comment Share on other sites More sharing options...
Visitor Posted August 13, 2013 Share Posted August 13, 2013 Don't know if anyway caught the Today programme this morning on radio 4.......basically the normal 3 hour programme was turned into a BBC journo rampathon (we were warned at 6 that this was going to be a house price special programme) with reports from Nottingham about houses selling like hot cakes and interspersed with interviews with RICs representatives at regular intervals. There are certainly millions locked-out of secure housing but the market is crazy, the auction houses are packed with breathless investors. Quote Link to comment Share on other sites More sharing options...
Steppenpig Posted August 13, 2013 Share Posted August 13, 2013 I know it's more fun slating the BBC, but the girl on Sky actually said that rising house prices were good news for first time buyers and people wishing to trade up. Quote Link to comment Share on other sites More sharing options...
Monkey Posted August 13, 2013 Share Posted August 13, 2013 Isnt this what we want? It proves the bubble curve, this is the perfect dead cat bounce...ok its had a bit of a kick by help to buy etc, but that can only kick it so far....... Banks may proceed to release the pent up* reposession stock as well if they think they can get a proffit, and all the BTLers who have had their fingers burnt will want out too, people who need to downsize for one reason or another, lots of stock on the market all comepting for the same pound coin..... this could be the perfect storm comming and all before the second step of help to buy. *houses not yet reposessed as well as land banks etc being held waiting for a rise Quote Link to comment Share on other sites More sharing options...
Duffman Posted August 13, 2013 Share Posted August 13, 2013 I know it's more fun slating the BBC, but the girl on Sky actually said that rising house prices were good news for first time buyers and people wishing to trade up. ******ing brilliant. So when trying to explain to the hard of thinking why this is completely **** about face, I will simply be met with retorts of "well they said on the telly that rising prices are good, so they must be and you are wrong" *attention switches back to Big Brother* Quote Link to comment Share on other sites More sharing options...
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