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TheCountOfNowhere

The Country's Gone Mad

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been away for a week and have come back to complete media madness.

the HTB scheme brought forward...WTF!

sky tv reading out viewers positive comments on help to get into debt scheme.

Halifax, state owned bank saying prices have shot up, on the back of low sales volumes and a London bubble.

media everywhere pushing htb.

this thing is insane.

the government are bailing out the banks and endebting a generation...help to buy is help to prop up the banks.

this must be either stupid,illegal or downright corrupt.

is anyone in the msm standing up against this insanity?

Edited by TheCountOfNowhere

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been away for a week and have come back to complete media madness.

the HTB scheme brought forward...WTF!

sky tv reading out viewers positive comments on help to get into debt scheme.

Halifax, state owned bank saying prices have shot up, on the back of low sales volumes and a London bubble.

media everywhere pushing htb.

this thing is insane.

the government are bailing out the banks and endebting a generation...help to buy is help to prop up the banks.

this must be either stupid,illegal or downright corrupt.

is anyone in the msm standing up against this insanity?

Well they are hoping for that to save the banks, whether it will materialise is a different matter? IMO the louder the VI`s shout, the deeper in the Mire they are sinking.

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It has gone mad, yes, but in a way I think that's the best thing we could hope for, if we have to suffer the abomination of HTB. There are far more dissenting voices this time around, and they're calling a lot louder. It's much easier to see this time around that the emperor has no clothes.

Anecdotal, but I had a call from an agent this week about a new house they have taken on their books. They were desperate to get me to take a look, and I responded that since asking prices have gone so la-la in the past few weeks, I wasn't interested. I quoted the 20% increase that I've seen in some cases, and the response was quite an interesting "Well we're telling people 5%". I didn't know quite what to make of that, but they've called me three times since to ask for a viewing, so I get the impression they aren't exactly getting mown down by freshly minted HTB buyers.

I've rejected them anyway. as far as I'm concerned I'm not playing until things calm down a little.

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The two Eds (Dumb and dumber) have said NOTHING. The media ramping campaign is impressive as it is in the papers on the news and every other advert on TV is for property. The only other advert with lots of cover is Wonga, so what is the state of the real economy? Soaring property prices with taxpayer backed debt on one side and and pay day loan companies on the other.

If you can't get a helpful large sum loan, you can always get a very expensive small sum loan.....all this help will not ultimately help the people it is being sold as helping.....only lower total amounts of debt will help people. ;)

Edit: Governments should practice what they are preaching.

Edited by winkie

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I know the BBC is always going to be a bit pro establishment, but this is ridiculous.

htb.png

If there were a considerable number of people who didn't really understand that you didn't pay down the capital when you made the payments on an an interest only mortgage, then they'll be a fair few who don't understand that this guarantee is a guarantee to the banks, leaving borrowers still facing colossal downside risks without the benefit of any guarantee.

The FT are reporting that interest in the scheme is limited to the government's captured weak banks (Lloyds and RBS) - the whole thing stinks.

Edited by ChairmanOfTheBored

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have also noticed primelocation sick-inducing ad for the house a well off couple (cruises, wine, white walls) you will aspire to - if you buy now

there is also one for rightmove in the same vein with a ditsy young thing dancing her way through all sorts of houses including one with a very nice staircase banister.!

what planet are they on - does anyone believe this hype :(

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The two Eds (Dumb and dumber) have said NOTHING. The media ramping campaign is impressive as it is in the papers on the news and every other advert on TV is for property. The only other advert with lots of cover is Wonga, so what is the state of the real economy? Soaring property prices with taxpayer backed debt on one side and and pay day loan companies on the other.

The daily mail said nasty things about Ed's daddy, surely that's worse than tories stuffing the country head first down the toilet.

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have also noticed primelocation sick-inducing ad for the house a well off couple (cruises, wine, white walls) you will aspire to - if you buy now

there is also one for rightmove in the same vein with a ditsy young thing dancing her way through all sorts of houses including one with a very nice staircase banister.!

what planet are they on - does anyone believe this hype :(

The Hype will get worse and worse the more the schemes arent working.

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htb.png

If there were a considerable number of people who didn't really understand that you didn't pay down the capital when you made the payments on an an interest only mortgage, then they'll be a fair few who don't understand that this guarantee is a guarantee to the banks, leaving borrowers still facing colossal downside risks without the benefit of any guarantee.

The FT are reporting that interest in the scheme is limited to the government's captured weak banks (Lloyds and RBS) - the whole thing stinks.

Like when discussing the deposit guarantee scheme with someone a few years ago and saying that the deposit protection limit had neen raised to 80k or whatever it was, she turned and said "Oh, but I have much more than that with them" Meaning her mortgage was about 200k. I had to explain that they were not guaranteeing money she owed them, but money people had deposited with them.

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The Hype will get worse and worse the more the schemes arent working.

I like the ultrahype, it just shows how mental the property industry and its pet politicians are becoming.

Cabinet ministers and even the prime minister have been popping up everywhere trying to flog the scheme like desperate double glazing salesmen. Their words will come back to haunt them when this all goes south.

Time to sit back and enjoy the popcorn.

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I like the ultrahype, it just shows how mental the property industry and its pet politicians are becoming.

Cabinet ministers and even the prime minister have been popping up everywhere trying to flog the scheme like desperate double glazing salesmen. Their words will come back to haunt them when this all goes south.

Time to sit back and enjoy the popcorn.

Definitely, it will be one helluva unwind from here :D There are going to be some very unhappy campers who sucked up the Ponzi loans.

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It has gone mad, yes, but in a way I think that's the best thing we could hope for, if we have to suffer the abomination of HTB. There are far more dissenting voices this time around, and they're calling a lot louder. It's much easier to see this time around that the emperor has no clothes.

Anecdotal, but I had a call from an agent this week about a new house they have taken on their books. They were desperate to get me to take a look, and I responded that since asking prices have gone so la-la in the past few weeks, I wasn't interested. I quoted the 20% increase that I've seen in some cases, and the response was quite an interesting "Well we're telling people 5%". I didn't know quite what to make of that, but they've called me three times since to ask for a viewing, so I get the impression they aren't exactly getting mown down by freshly minted HTB buyers.

I've rejected them anyway. as far as I'm concerned I'm not playing until things calm down a little.

This time around there is very little demand at the current price ,what is happening in the media is concerted and planned, sentiment has turned hundred and eighty degrees compared to five or six years ago

A mate of mine works for one of the state owned banks, in marketing (local/regional) ,they said months ago they were under pressure from above to increase mortgage lending ( as if they were withholding from the market) but the fact was no one was interested ,the reason for this they reckoned was a mix of, lack of job security,current price`s, and uncertainty over interest rates al la might be able to afford it now but what happens when rates go up

They think the major one is interest rates as the punter is looking at 4-6% on high LTV loans now, when the base rate is 0.5% ,they said they were frequently asked by punters if the base rate went up by 2% would they be looking at 6-8% if they were on svr terms which they were unable to answer

Their opinion was the divergence between BOE base and mortgage rates is causing to much fear/uncertainty

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hpc is a voice of sanity but its what the real sheeple think and do. the reason corporations spend billions on advertising is...it works. we now have every state biased media outlet advertising htb.

when the banks went belly up...the government stepped in...when the government can't keep up this madness...what then!

osborne needs to go.

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Like when discussing the deposit guarantee scheme with someone a few years ago and saying that the deposit protection limit had neen raised to 80k or whatever it was, she turned and said "Oh, but I have much more than that with them" Meaning her mortgage was about 200k. I had to explain that they were not guaranteeing money she owed them, but money people had deposited with them.

headline there is slightly misleading.

should read: 15% guaranteed by the taxpayer(ie...you)

talk about bribing people with their own money.

I think there's quite a good song that describes this:

....I'm thinking manic street preachers " if you tolerate this,then your children will be next"

http://www.blinkx.com/burl?v=nWjefO7WF8tpl3rhCpqoOyMbJgfXWjUPGeEXjk2AdCnrW6ITmdDt-P89OAslGIbE_N86HZBLgVFq-qPIeYZmjc9Yh42YbF1d31wJ30XTNucXMfCk6JjSWSNw0lSeQhqsozm_JruRqjWp34Rb8ycvTZn2A4pK-To9c_BNq4UrLlqKdvyFNBKOAFWSnuYHgDXNjv4Quj5kKMkNvrL_

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Definitely, it will be one helluva unwind from here :D There are going to be some very unhappy campers who sucked up the Ponzi loans.

It should be now. Excruciating new schemes; a figment of guarantee allowing new debt to be created, for stupid borrowers to pay crazing asking prices. That BBC iplayer story from 4 minutes in. Unless the unwind is quick, and these scheme fails, we know the reacion even from non-owners in 5 years time to younger buyers taking on HtB1/2 to pay preposterous asking prices.

'They just wanted a home / the media told them, they couldn't have known as they had reason to believe house prices always go up long term.' Compared to those in their 30s with young kids, still renting, who've scraped up a big deposit over the years, to put down if house prices were allowed to fall. No sympathy for them, well rarely.

Newly weds 'Dickie Steel' and Heidi Steel, both 27.

Heidi: "As soon as I graduated we started renting so I've been renting for 7 years, so all of our money goes into the rent and London living expenses." That house they were entitled to in the EA window, if they can scrape a 5% deposit, has gone Sold STC.

http://www.rightmove...country=england

Edited by Venger

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hpc is a voice of sanity but its what the real sheeple think and do. the reason corporations spend billions on advertising is...it works. we now have every state biased media outlet advertising htb.

when the banks went belly up...the government stepped in...when the government can't keep up this madness...what then!

osborne needs to go.

I think the susses of HTB will determine his future and the tory`s as a whole ,IMO the dinner party VI`s of half a dozen years ago can now see the problems their misguide beliefs have caused

I know quite a few ""my house is worth £xxx `s types"" of yesteryear that are deeply worried about thier now late tennaged children's chances of making/having a home/future of thier own

But like you say advertising works ,but you can also take a horse to water and all that ,ultimately only time will tell

From where I`m standing bringing forward HTB2 shows sings of real desperation I also ponder what was the thinking behind this http://www.housepricecrash.co.uk/forum/index.php?showtopic=193690

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This time around there is very little demand at the current price ,what is happening in the media is concerted and planned, sentiment has turned hundred and eighty degrees compared to five or six years ago

A mate of mine works for one of the state owned banks, in marketing (local/regional) ,they said months ago they were under pressure from above to increase mortgage lending ( as if they were withholding from the market) but the fact was no one was interested ,the reason for this they reckoned was a mix of, lack of job security,current price`s, and uncertainty over interest rates al la might be able to afford it now but what happens when rates go up

They think the major one is interest rates as the punter is looking at 4-6% on high LTV loans now, when the base rate is 0.5% ,they said they were frequently asked by punters if the base rate went up by 2% would they be looking at 6-8% if they were on svr terms which they were unable to answer

Their opinion was the divergence between BOE base and mortgage rates is causing to much fear/uncertainty

So there is hope yet? No borrowers = No Boom :lol: (well there will be a loud popping boom, but that isn`t the one they want is it?)

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This time around there is very little demand at the current price ,what is happening in the media is concerted and planned, sentiment has turned hundred and eighty degrees compared to five or six years ago

A mate of mine works for one of the state owned banks, in marketing (local/regional) ,they said months ago they were under pressure from above to increase mortgage lending ( as if they were withholding from the market) but the fact was no one was interested ,the reason for this they reckoned was a mix of, lack of job security,current price`s, and uncertainty over interest rates al la might be able to afford it now but what happens when rates go up

They think the major one is interest rates as the punter is looking at 4-6% on high LTV loans now, when the base rate is 0.5% ,they said they were frequently asked by punters if the base rate went up by 2% would they be looking at 6-8% if they were on svr terms which they were unable to answer

Their opinion was the divergence between BOE base and mortgage rates is causing to much fear/uncertainty

Thanks, that's interesting to read. So hopefully those being suckered in now are the last of the cash buyers. When they all buy or wise up, things could get interesting.

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So there is hope yet? No borrowers = No Boom :lol: (well there will be a loud popping boom, but that isn`t the one they want is it?)

Only time will tell ,like the count of nowhere has stated advertising is a powerful weapon

And all the ramping and advertising at this moment in time is undoubtedly a planned event, not coincidence

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