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John The Pessimist

Boe To 'unleash New Measures' On Housing Market.....

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The trick being stopping the prices rising any more? or bringing them down to an affordible level?

That's what you may wish for, but it is not common wisdom.

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The housing market is like a shark. It has to keep move up, if it either stays still or falls its curtains for the whole economy.

Carney is simple a well paid fall guy. What ever he does is going to see the market crash.

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The housing market is like a shark. It has to keep move up, if it either stays still or falls its curtains for the whole economy.

Carney is simple a well paid fall guy. What ever he does is going to see the market crash.

Well he might as well give it a good shove, and let the complacent home-owners and investors with their different dimension view on what their homes are worth, take some pain for once, instead of heaping all the misery on younger generations.

He's had his year of jawboning. Now for some action, Carney.

Telegraph – Sun, Jun 30, 2013
...The Bank of England has printed £375 billion since 2009 in a bid to kick-start the recovery, equal to 25 per cent of our entire national economic output. Lord Lamont said there was little "visible" evidence of a boost to the wider economy, that QE had pushed up inflation and it had been disastrous for the savings of pensioners across the country. The hard truth, he added, was that British households had borrowed too much during the years before the credit crisis and now had to pay it off.
He said: "QE is an attempt to avoid the necessary adjustment. "(Mark Carney's) role is not to find a monetary silver bullet but to deliver some hard message that a debt work out is exactly that - tough, unremitting, but the only way to get the economy back into better shape."

That's Lamont above. He recently opened a Library of Mistakes (mostly financial) in Edinburgh.

“Mistakes can sometimes be serendipitous, but even when they are not, their study still has value as human progress is based upon learning from mistakes. “The more we know about why smart people do stupid things, the fewer stupid things we might do. The Library of Mistakes provides a resource for the study of such mistakes as we fulfil our motto Mundum mutatu errore singillatim – changing the world one mistake at a time.”

http://www.scotsman.com/news/odd/edinburgh-home-to-world-s-first-mistake-library-1-3392885

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That's what you may wish for, but it is not common wisdom.

Sorry, you said 'It may do the trick.' I just wanted to know what that trick was. To maintain the current price levels or to correct them? My wishes don't really come into the question, nor does common wisdom for that matter. What do you see happening?

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Zoopla boss says London not in a bubble. Only reason given for houseprices there, is that London is special (seriously).

http://www.telegraph.co.uk/finance/economics/10918495/London-is-not-in-a-property-bubble-says-Zoopla-boss.html

"Zoopla holds 20m historic transaction prices dating back to 1995"

Going to the Land Registry website and pressing "download" does not constitute a qualification!

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Until they don't

A heavy stock market sell off will be the precursor - this autumn? - forcing the QE crowd into liquidating some of the leveraged positions they hold in everything. On that basis I'm still hopeful we might see a resumption of the house price crash before the GE. Nothing the idiot Carney does will have any bearing on the matter, he's a passenger not the driver.

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The Bank of England has printed £375 billion since 2009 in a bid to kick-start the recovery, equal to 25 per cent of our entire national economic output. Lord Lamont said there was little "visible" evidence of a boost to the wider economy, that QE had pushed up inflation and it had been disastrous for the savings of pensioners across the country. The hard truth, he added, was that British households had borrowed too much during the years before the credit crisis and now had to pay it off.

That's an outright lie.

British households didn't borrow 'too much' before the credit crisis. Moreover they don't 'have to pay it off'.

Growth in household debt was much lower than during Lawson's tenure as Chancellor in the 80s.

Doesn't stop him repeating the lie ad nauseam though and the Torygraph printing it.

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The bank credit conditions survey I have yet to read but different news publications are interpreting in different ways. The BBC reports mortgage demand to keep rising. Reuters has expect approvals to drop in Q3. The Telegraph has that there is a logjam and a backlog in applications and that is why approvals are tanking. Cml refers to statistical fog.

Has anyone looked at the report as press seems muddled ?

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As a Londoner I certainly think it’s the best city in the world.”

It really is the reasoning of a four year old, isnt it?

My dad is richer than yours...etc etc.

Read the local tourist ******** and im sure barnsley is the best place in the world too.

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