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rantnrave

Land Reg In 2Nd Monthly Fall

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Little Brittan (outside of London) must be in a right pickle for prices to be falling.

All the ramping

All the government intervention in the free market

The 0.5% base rate

The 95% mortgage and 100x part time salary mortgages.

Krusty & Phil 7am to 10pm

All the lies the agents have been telling.

The dodgy stats (unemployment, government debt, GDP)

Expect overdrive in the budget, zero stamp duty to 2015, Interest and repayment free mortgages for 5 years etc.

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Little Brittan (outside of London) must be in a right pickle for prices to be falling.

All the ramping

All the government intervention in the free market

The 0.5% base rate

The 95% mortgage and 100x part time salary mortgages.

Krusty & Phil 7am to 10pm

All the lies the agents have been telling.

The dodgy stats (unemployment, government debt, GDP)

Expect overdrive in the budget, zero stamp duty to 2015, Interest and repayment free mortgages for 5 years etc.

Yep, and the pickle is just beginning I think, for the over mortgaged that is.

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Yep, and the pickle is just beginning I think, for the over mortgaged that is.

The only thing that is going to save people is wage inflation. My guess that we are 10 years from meaningful wage inflation - which I guess is also why I am not a fan of taking on loads of debt.

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The only thing that is going to save people is wage inflation. My guess that we are 10 years from meaningful wage inflation - which I guess is also why I am not a fan of taking on loads of debt.

The only way I can see wage inflation in the UK is if the EZ comes to an end, along with "freedom of movement for work", and we get very strict about who comes in from Africa and other parts of the world. This may happen, but could take years, massive HPC will happen first IMO.

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Heh. Londoners create all the UKs debt, thats for sure. Then get the rest of the country to pay for it via inflation.

London is a parasite. It creates no wealth. It simply transfers it (usually from poor to rich).

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The bigger picture is that there is also lots of unemployment in the Eurozone and the US that can mop up extra work 'locally' such as manufacturing, design and development. Not everyone need move to the UK to work. Essentially UK employees are in competition with Europe, USA, India, China, Indonesia etc.

Another factor is that globally there are more graduates competing globally for work, so the days of UK/USA monopoly on high end tech sector has long since gone.

Devaluation could get the UK there quicker than 10 years, I guess 50% compared to everywhere else would devalue labour enough and help the indebted pay back their debts. The trouble is another 50% off would put the cost of heating, food and transport out of reach for more people than it already is thus causing bigger issues,

I guess we will all have to get used to being poorer or collectively buck our ideas up, but I fear that that will not happen as there is no incentive for working people to do better.

The Nasty Party's beat everyone with a $hitty stick policy really does not and will not work, what is needed is a carrot. Work and you can achieve a better quality of life, but that is to far out of reach it's not even insight for today's workers.

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What this generation had was wage inflation. They knew that their debts would halve relative to income within a decade.

I would take on lots of debt if my wages were growing at 10%+ per annum.

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Can't get any joy on the annual either, I had assumed that seasonal falls might be a factor...........165411/161490 = + 2.4% annual assuming they haven't messed with last November's figure which they probably have. That compares to 3.1% growth in the year to October.

According to this one any Bears outside London are still in the box seat with prices at an inflation adjusted nadir. Can't disagree with that from my observations of the East Midland's Market.

Edited by crashmonitor

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What this generation had was wage inflation. They knew that their debts would halve relative to income within a decade.

I would take on lots of debt if my wages were growing at 10%+ per annum.

I swear those sort of comments are from government operatives. They follow the same script every time. Either that or a HPCer on a wind-up!

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I swear those sort of comments are from government operatives. They follow the same script every time. Either that or a HPCer on a wind-up!

No, not a windup. If my wages were increasing at a rate of 3/4k per year and I was confident that that was going to happen for a decade then I would borrow lots of money and buy ourselves a nice house - that is outside London, I still think inside the M25 is mega bubble territory. Elsewhere in the UK property is simply 30% to 50% overpriced.

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Hi slacker

Do you know where the Mail's figures are from?

They don't really expand properly on their source but there is a reference in there to ONS figures, also the +3.8% for September to which they refer would tally with that

So have they got the ONS figures for October before anyone else?

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Hi slacker

Do you know where the Mail's figures are from?

They don't really expand properly on their source but there is a reference in there to ONS figures, also the +3.8% for September to which they refer would tally with that

So have they got the ONS figures for October before anyone else?

there's an ONS release today that has average price at £247k I think. Seemed ridiculous but it is the ONS.

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With the land register being 3 months behind and suddenly the data showing falls...I wonder if it had any bearing on Osborne's decision to bring forward the Help To Bankers Scheme by 3 months.

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What this generation had was wage inflation. They knew that their debts would halve relative to income within a decade.

I would take on lots of debt if my wages were growing at 10%+ per annum.

What you heard about from the man in the street in the 70s was price inflation.

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What you heard about from the man in the street in the 70s was price inflation.

and to further reinforce your point in the 70s prices were increasing faster than wages. Wage increases always lagged inflation as well.

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and to further reinforce your point in the 70s prices were increasing faster than wages. Wage increases always lagged inflation as well.

Data says no.

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