Jump to content
House Price Crash Forum
Sign in to follow this  
eric pebble

The Extension Of Liar Loans And Their Impact On House Prices

Recommended Posts

"The economists Jordá, Schularick and Taylor argued convincingly last year that the causes of this economic crisis, the next and the one before are all, fundamentally, the extension of credit and its impact on house prices".

This is what I have said for YEARS. ~And let's re-phrase it:

"The economists Jordá, Schularick and Taylor argued convincingly last year that the causes of this economic crisis, the next and the one before are all, fundamentally, the extension of credit LIAR LOANS and its their impact on house prices".

Whole article here:

http://www.theguardian.com/commentisfree/2015/oct/04/printing-money-jeremy-corbyn-quantitative-easing-peoples-qe

Edited by eric pebble

Share this post


Link to post
Share on other sites

Interest is the tax the financial industry extract from us as our lords.

LAIR LOANS show their desire to maximise their theft,

Busts happen when they've loaded too greater amounts of debt into the world and the mortals can't service the interest.

Share this post


Link to post
Share on other sites

Liar loans neatly hide up from a blind eyed regulator who is charged with understanding bankers their actions and motives in the most highly regulated industry the world has ever seen.

The lie moves from borrower to broker, to banker to valuer to banking management to Boards to investors and back out, while everybody knows about it except anyone at all.

Share this post


Link to post
Share on other sites

We have all been brainwashed :D . The reality is that a "poor" native living in a mud hut in the developing world is "richer" than the average house buyer in the developed world as he has no debt and no rent to pay either.

Share this post


Link to post
Share on other sites

We have all been brainwashed :D . The reality is that a "poor" native living in a mud hut in the developing world is "richer" than the average house buyer in the developed world as he has no debt and no rent to pay either.

Depends how you define rich I guess, you're at much higher risk of contracting communicable diseases and if you ever do get sick, the chances of you dying is pretty high in comparison.

Share this post


Link to post
Share on other sites

We have all been brainwashed :D . The reality is that a "poor" native living in a mud hut in the developing world is "richer" than the average house buyer in the developed world as he has no debt and no rent to pay either.

You are absolutely right. C**p in the palace is still a c**p. Not to mention that life in western world is very far from life in a palace.

Share this post


Link to post
Share on other sites

We have all been brainwashed :D . The reality is that a "poor" native living in a mud hut in the developing world is "richer" than the average house buyer in the developed world as he has no debt and no rent to pay either.

Very good point...

Judging by what Cameron was saying yesterday --- the Tories have - EXTREMELY belatedly - woken up to what's been going on for YEARS........ They are SO late ---- Far too late actually. A whole generation + have had their lives deeply affected for the worse by the whole hpi FRAUD.

Share this post


Link to post
Share on other sites

We have all been brainwashed :D . The reality is that a "poor" native living in a mud hut in the developing world is "richer" than the average house buyer in the developed world as he has no debt and no rent to pay either.

I can't tell if yo're being serious or not! Take that same "poor" native and put him in a house with central heating, furniture & comfy bed, electricity & gas, food in the fridge, running water, access to healthcare & transport, protection of the police and legal system etc etc and ask him how rich he felt living in a cold mud hut, having to hunt for food or go hungry, and probably dying from basic & treatable diseases. Simple truth is that if you want to go live off the land in a mud hut then there's probably very little to stop you doing it in many countries across the globe. I'd give the vast majority of people less than 6 months before they either (1) returned, (2) went insane, or (3) died. <_<

Share this post


Link to post
Share on other sites

Liar loans neatly hide up from a blind eyed regulator who is charged with understanding bankers their actions and motives in the most highly regulated industry the world has ever seen.

The lie moves from borrower to broker, to banker to valuer to banking management to Boards to investors and back out, while everybody knows about it except anyone at all.

Don't you mean a regulation system created by a one eyed chancellor?

Share this post


Link to post
Share on other sites

I can't tell if yo're being serious or not! Take that same "poor" native and put him in a house with central heating, furniture & comfy bed, electricity & gas, food in the fridge, running water, access to healthcare & transport, protection of the police and legal system etc etc and ask him how rich he felt living in a cold mud hut, having to hunt for food or go hungry, and probably dying from basic & treatable diseases. Simple truth is that if you want to go live off the land in a mud hut then there's probably very little to stop you doing it in many countries across the globe. I'd give the vast majority of people less than 6 months before they either (1) returned, (2) went insane, or (3) died. <_<

I have a very recent experience of such a situation.

Native's house in jungle. Concrete/tile build. Mains electricity but low power I suspect as only ised for lighting. Large hearth, not dissimilar to french style ones with portable gas based cooking rings and optional wood fire, they like those becuase they are traditional and there's lots of wood! Fair bit of land growing all sorts. Well in garden with electric pump and header tank. Transport 1 motorcyle. 1 tuk tuk. Single income family with wife staying at home looking after child. House paid off, 10 year mortgage.

There were little shops everywhere, no sign of any hunting ;-)

Share this post


Link to post
Share on other sites

Brilliant topic and is worth mentioning regularly to remind us all. Cheers Eric. :rolleyes::rolleyes::lol::lol:

+1

Liar loans aggregated into mortgage-backed securities and disposed of through the shadow banking system to keep the balance sheets clean.

Share this post


Link to post
Share on other sites

Return of the LIAR LOANS

UK firms setting up in Eastern Europe offer high-risk mortgages that do not require borrowers to prove what they earn

Lenders are exploiting a legal loophole by offering high-risk mortgages that allow homebuyers to get a loan without having to prove what they earn. Money Mail can reveal how British businesses are setting up in Eastern European nations such as Estonia as a way of skirting around tough UK laws on lending money. From January, Selfcert.co.uk, which has been founded by a British businessman in an unnamed Eastern European country, will offer self-certification mortgages to UK borrowers.

2E89F77800000578-0-image-m-66_1447797815

Edited by rollover

Share this post


Link to post
Share on other sites

+1

Liar loans aggregated into mortgage-backed securities and disposed of through the shadow banking system to keep the balance sheets clean.

SPOT ON. ABSOLUTELY THE KEY TO THE WHOLE HPI SCAM AND THE ENTIRE WORLD FINANCIAL CATASTROPHE - WHICH IS TEETERING ON THE VERY EDGE OF AN ABYSS --- MOSTY THANKS TO THE WHOLE F***ING HOUSE PRICE PONZI-PYRAMID SCAM. IT IS GOING TO DESTROY US ALL. :ph34r::unsure::wacko:

Edited by eric pebble

Share this post


Link to post
Share on other sites

I have a very recent experience of such a situation.

Native's house in jungle. Concrete/tile build. Mains electricity but low power I suspect as only ised for lighting. Large hearth, not dissimilar to french style ones with portable gas based cooking rings and optional wood fire, they like those becuase they are traditional and there's lots of wood! Fair bit of land growing all sorts. Well in garden with electric pump and header tank. Transport 1 motorcyle. 1 tuk tuk. Single income family with wife staying at home looking after child. House paid off, 10 year mortgage.

There were little shops everywhere, no sign of any hunting ;-)

The name of the country? What was it that the husband did for a living? What is is his estimated salary?

10 year mortgage? Implies relatively cheap housing, but still expensive enough for people to need to borrow long term to pay for it.

Share this post


Link to post
Share on other sites

The name of the country? What was it that the husband did for a living? What is is his estimated salary?

10 year mortgage? Implies relatively cheap housing, but still expensive enough for people to need to borrow long term to pay for it.

The property mafia will be on the scene soon.... :rolleyes:

Share this post


Link to post
Share on other sites

Return of the LIAR LOANS

UK firms setting up in Eastern Europe offer high-risk mortgages that do not require borrowers to prove what they earn

Lenders are exploiting a legal loophole by offering high-risk mortgages that allow homebuyers to get a loan without having to prove what they earn. Money Mail can reveal how British businesses are setting up in Eastern European nations such as Estonia as a way of skirting around tough UK laws on lending money. From January, Selfcert.co.uk, which has been founded by a British businessman in an unnamed Eastern European country, will offer self-certification mortgages to UK borrowers.

2E89F77800000578-0-image-m-66_1447797815

We've already had LATVIA LOANS !

http://www.housepricecrash.co.uk/forum/index.php?/topic/127304-latvia-threatens-foreign-banks-with-huge-losses/

Share this post


Link to post
Share on other sites
24 minutes ago, eric pebble said:

I think this thread deserves a little prod......:P

Always nice to see you bumping along ..

There were 2 things we were beginning to think would not happen , london house prices dropping and ...

Kirstie Allsopp weight loss: TV star credits the James Corden diet for two stone drop  

http://www.express.co.uk/life-style/diets/743087/kirstie-allsopp-weight-loss

Wrong on both counts

:D

Share this post


Link to post
Share on other sites
On 12/14/2016 at 11:33 PM, Saving For a Space Ship said:

Always nice to see you bumping along ..

There were 2 things we were beginning to think would not happen , london house prices dropping and ...

Kirstie Allsopp weight loss: TV star credits the James Corden diet for two stone drop  

http://www.express.co.uk/life-style/diets/743087/kirstie-allsopp-weight-loss

Wrong on both counts

:D

What can I say?!  Brains??   Nope.....;)

Share this post


Link to post
Share on other sites
5 hours ago, eric pebble said:

What can I say?!  Brains??   Nope.....;)

 

Eric, I just posted this thread with latest  Max & Stacey show mentioning " predatory promises " similar to ..you know what  

https://www.rt.com/shows/keiser-report/372530-episode-max-keiser-1014/

Quote

In this episode of the Keiser Report, Max and Stacy discuss the run up in bitcoin prices and the runs on pension funds in Dallas, Texas. The two are related by predatory promises made by politicians and officials to various groups of voters throughout the years – usually tied to an election cycle. They also discuss how the biggest pension in the world, Calpers, is cutting benefits to some retirees by up to 60 percent.

 

Share this post


Link to post
Share on other sites
On 1/3/2017 at 2:44 PM, Grumpysod said:

And why not eric, probably the biggest case of mass fraud in the UK ever which was probably also one of the easiest to solve crimes as well. A cross reference with tax returns and mortgage applications would have uncovered  what a corrupt property system we had. Even now tax could be collected or liars prosecuted, but why open a can of worms, especially when those in power profited from it..

YUP ---- PREDATORY LIAR LOANS FRAUD

THE GREATEST EVER ELEPHANT MAMMOTH IN THE ROOM...

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • The Prime Minister stated that there were three Brexit options available to the UK:   47 members have voted

    1. 1. Which of the Prime Minister's options would you choose?


      • Leave with the negotiated deal
      • Remain
      • Leave with no deal

    Please sign in or register to vote in this poll. View topic


×

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.