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TheCountOfNowhere

I'm Not Buying It...

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All the media are giving it large....talk of a new housing bubble and prices on the up.

However....I all seeming plenty listings on rightmove...people are now thinking they can cash in now no doubt....who's going to buy tho ?

Still plenty of drops on rightmove using property bee...around 40% in my searches today.

Disposable income down.

Expenses up eating into that money you can save with your low interest mortgage.

Mortgage rates still high really for anyone but then with a BIG deposit to gift the bankers.

Land registry stll flat/down only being kept up by the london madness low volume bubble.

Sales volumes up but not any where near normal.

Unafforability still at an all time high,

This media hype is insane, it's only purpose can be to keep the ponzi/pyramid going,

Ponzi/pyramid scams ALWAYS collapse and the bottom level ( FTBs and BTLs ) ALWAYS loose big.

Anyone young person will be using their deposit to LEAVE not buy a house.

The government are proving they are just banker puppers ( again ), It's disgraceful, ill try and vote UKIP next time but when that fails it will be time to leave,

New housing bubble....my a&&e.

Edited by TheCountOfNowhere

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I'm left wondering who organised and paid for the coordinated media blitz that happened today. I don't believe this kind of thing could happen spontaneously.

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Don't forget that we have had a huge trade deficit for decades. That means Sterling flooding out of the country to buy foreign goods (tat made in China mostly).

With Sterling falling in value over the past 5 years many investors may be moving their money back into the UK to get better returns.

But what would they invest in?

The FTSE100? Which hasn't beaten inflation for 20 years?

Government bonds? Which have been massively manipulated through QE to provide terrible returns?

Or property? A sector the banks have a vested interest in protecting while the government has a vested interest in protecting the banks.

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All the VIs. Fear that the ponzi was slowing down and people did not believe Carney; ie he can't actually stop interest rate rises, so better use FUD (fear uncertainty and doubt) to get people to buy or they will miss out. Fear is a great weapon and is used to control the masses. YOU HAVE BEEN TOLD prices are rising so you must BUY NOW. And they have schemes to HELP YOU BUY NOW.

The election win for the Tories depends on rising house prices.

I believe it (the so-called bubble) will seem to work for a short time but will then falter and stop. Then back to slow price falls. TPTB will then probably try something else. And so on ...

It's pathetic, I think.

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I've been most heartened by the absolute panning this policy has attracted on Twitter today. It has been relentless criticism, ridicule even. I don't suppose this will change. I hope it gets to the point where Con MPs realise that expressing support for this policy = electoral oblivion. It's shaping up that way.

I'd go so far as to say that the Conservative Party could go through a crisis after GE 2015 on the back of the twin squeeze of reducing membership amongst key demographics allied to policies that ensure no replacement stock from younger voters. They appear to be wilfully painting themselves into a corner, with policies which are not even loosely based on their alleged political stance. It's incredible to think that they actually have strategists that are pushing them down this route too.

Sales volumes of existing stock must be miniscule, the 'Equity Loan' part is sucking in around 90 reservations/day. I'm not buying chat of a boom either. As others have said, the money ain't there to sustain it in any great volume.

Edited by cheeznbreed

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All the VIs.

I know, but I don't think I fully realised before today just how good they are. There are people who wake up in the morning, brush their teeth and go to work in an office (in London?) where their job is to convince the British public that house prices are going to rise and that this is a good thing. That's what they do for a living. Somebody is paying them to do that. I just find that totally incredible.

There is a battle of ideas going on and the other side is well connected, well resourced, and totally ruthless.

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I know, but I don't think I fully realised before today just how good they are. There are people who wake up in the morning, brush their teeth and go to work in an office (in London?) where their job is to convince the British public that house prices are going to rise and that this is a good thing. That's what they do for a living. Somebody is paying them to do that. I just find that totally incredible.

There is a battle of ideas going on and the other side is well connected, well resourced, and totally ruthless.

It's a battle of good versus evil all over the world.

Sam is winning. Young aspiring financial independents who need a wee bit of space in the UK are losing.

For now. B)

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I'm not buying it either. Not that I can afford to anyway. A modest freehold 2 bedroomed home in my area is about 8 times my gross annual salary.

BBC BPC* Breakfast presenters this morning seemed rather upbeat about the strong performing housing market. I almost choked on my Ready Brek. :blink:

* British Propaganda Corporation

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when the sellers who rush to sell get 2004 level offers and nothing else i suspect fear might commence.

London will pop then the madness will stop.

No new sellers in the south west keeping volumes low and prices rising. I think most sellers are waiting to 'cash in' on Help to Buy 2 next year. That's when we'll see if this new 'bubble' has legs. I think it may run for a while but the wheels will probably start to come off in the second half of 2014.

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bbc news at ten, main headline no less, prices going uh.housing bubble. subliminal message of you must save a deposit and pay the asking price.

the desperation was tangible.

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I'm left wondering who organised and paid for the coordinated media blitz that happened today. I don't believe this kind of thing could happen spontaneously.

Not all the UK media are on message:

http://www.telegraph.co.uk/property/propertyadvice/propertymarket/10240879/Homeowners-are-not-so-bubbly-this-time.html

The figures made the front pages but Mr Lewis was not alone in giving them a muted welcome – or worse. Readers have been giving vent to their dismay on the Telegraph website. They say rising prices do not mark a recovery, but rather a relapse into the debt-fuelled malady that almost killed the patient the last time round. Many commentators, even before the latest release of positive figures, were using the word “bubble” in connection with the housing market.

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In one article they are talking about how high train ticket prices are bad. In the other they are talking about how high house prices are good.

It's all complete nonsense, tbh.

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No new sellers in the south west keeping volumes low and prices rising. I think most sellers are waiting to 'cash in' on Help to Buy 2 next year. That's when we'll see if this new 'bubble' has legs. I think it may run for a while but the wheels will probably start to come off in the second half of 2014.

Surely time for HTB3 which will also be known as FRB (Fractional Reserve Bricks) where the banks will conjure up 9 bricks out of thin air for every one you buy*.

Then they'll literally be bricking it.

*When I say 'buy' I mean 5% down.

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In one article they are talking about how high train ticket prices are bad. In the other they are talking about how high house prices are good.

It's all complete nonsense, tbh.

Homeowners need hpi to pay for the train fares.

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Get on board the Twitter bus and fight for the opposition.

I already do!

Edit: I'm not saying it's hopeless and we should all give up in despair. Sanity will return eventually. I'm just surprised by the opposition's ability to control the message the mainstream media pump into the public's brains.

Edited by Dorkins

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I know, but I don't think I fully realised before today just how good they are. There are people who wake up in the morning, brush their teeth and go to work in an office (in London?) where their job is to convince the British public that house prices are going to rise and that this is a good thing. That's what they do for a living. Somebody is paying them to do that. I just find that totally incredible.

There is a battle of ideas going on and the other side is well connected, well resourced, and totally ruthless.

We have watched them operate here for years and yes they are good.

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Not all the UK media are on message:

http://www.telegraph.co.uk/property/propertyadvice/propertymarket/10240879/Homeowners-are-not-so-bubbly-this-time.html

The figures made the front pages but Mr Lewis was not alone in giving them a muted welcome – or worse. Readers have been giving vent to their dismay on the Telegraph website. They say rising prices do not mark a recovery, but rather a relapse into the debt-fuelled malady that almost killed the patient the last time round. Many commentators, even before the latest release of positive figures, were using the word “bubble” in connection with the housing market.

The reporter seems a bit schizophrenic, here he is asking if it's a good time to buy the strong recovery in prices, also from today:

http://www.telegraph.co.uk/finance/personalfinance/houseprices/10239270/House-prices-on-the-rise-is-now-the-time-to-buy.html

Many Telegraph finance hacks seem to be little better than above the line trolls.

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In one article they are talking about how high train ticket prices are bad. In the other they are talking about how high house prices are good.

It's all complete nonsense, tbh.

I noticed that on bbc news 24! The newsreader sounded quite chirpy when announcing that house prices had gone up faster than inflation. They then sounded downbeat and solemn when intoning that rail prices had gone up. Comically bad journalism really.

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I am seeing more hpi=possibly bad stuff than I expected. Yes there is the usual 'good news as house prices rise' stuff but you don't have to look far for the opposite view. That wasn't happening last time around.

Paxman sounding cynical on hpi right now, 'is this any way to run an economy'?

Edited by campervanman

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From the Today programme, to Steve Right in the afternoon. You just couldn't get away from it, so on went a CD.

The hype was too obvious, and this comes from someone who has just bought.

Which brings me to another point. I'm coming up to 65, never owned my own home, and need to settle down.

The only reason I bought was because I saw a house that had lovely sea views. It is a 1930's house that hasn't been touched for 43 years, so a blank canvas which I am pouring loadsa dosh into. The price was on the stamp duty threshold, and I believe when it is finished I will have over capitalized, but I don't care it will be a great place to spend my dotage.

Having said that I still hope there will be a house price correction, either way it won't effect me any more.

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Anybody watching newsnight?

Discussion on housing bubble, apparently rising prices in this bubble right now are only being driven by help to buy pt1 for new builds only (and london), the expectation is that when H2B pt 2 comes in to play in january which is not restricted to new build only, house prices will surge even higher.

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