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If You Were In Power And Knew The Housing Market Was Collapsing, What Would You Do?

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imagine, your a self serving scum bag who's managed to grab power because you went to the right school and had connections.

now, imagine, you know, post election, that the housing bubble that ensured your election victory was falling apart, perhaps by design.

what would you do?

I'd, personally, make sure my friends got out first, suppress the news until the right people got out... then I'd find a scape goat on whom to blame everything , I'd hammer them hard and claim my policy of stopping the people pushing up prices had reversed the insanity and prices were coming down for "hard working families"

all events in this story are fictitious and any similarity to real events or people is purely coincidental.

smell the FEAR.

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imagine, your a self serving scum bag who's managed to grab power because you went to the right school and had connections.

now, imagine, you know, post election, that the housing bubble that ensured your election victory was falling apart, perhaps by design.

what would you do?

I'd, personally, make sure my friends got out first, suppress the news until the right people got out... then I'd find a scape goat on whom to blame everything , I'd hammer them hard and claim my policy of stopping the people pushing up prices had reversed the insanity and prices were coming down for "hard working families"

all events in this story are fictitious and any similarity to real events or people is purely coincidental.

smell the FEAR.

Ok Dave.

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imagine, your a self serving scum bag who's managed to grab power because you went to the right school and had connections.

now, imagine, you know, post election, that the housing bubble that ensured your election victory was falling apart, perhaps by design.

what would you do?

I'd, personally, make sure my friends got out first, suppress the news until the right people got out... then I'd find a scape goat on whom to blame everything , I'd hammer them hard and claim my policy of stopping the people pushing up prices had reversed the insanity and prices were coming down for "hard working families"

all events in this story are fictitious and any similarity to real events or people is purely coincidental.

smell the FEAR.

Ok Dave.

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imagine, your a self serving scum bag who's managed to grab power because you went to the right school and had connections.

now, imagine, you know, post election, that the housing bubble that ensured your election victory was falling apart, perhaps by design.

what would you do?

I'd, personally, make sure my friends got out first, suppress the news until the right people got out... then I'd find a scape goat on whom to blame everything , I'd hammer them hard and claim my policy of stopping the people pushing up prices had reversed the insanity and prices were coming down for "hard working families"

all events in this story are fictitious and any similarity to real events or people is purely coincidental.

smell the FEAR.

It's called "doing the right thing"

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Say im making housing more affordable by lowering prices. Make it look like it was meant to happen, rather than me just being caught up in my own Osbrownian idiocy.

+1

Own the narrative. The first rule of media politics.

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There is lots of taxpayer cash to 'lend' to buyers to support prices. Push comes to shove lend them 80% of the asking price to be paid back in 25 years so their wages can fund the other 20% .... the debt will just inflate away; job done.

House prices always increase .... perhaps they could make a law that prices can only ever increase.

yet, they still need to borrow every month.

the trouble with pyramid structured sales, you need more and more and more to keep them going.

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imagine, your a self serving scum bag who's managed to grab power because you went to the right school and had connections.

now, imagine, you know, post election, that the housing bubble that ensured your election victory was falling apart, perhaps by design.

what would you do?

I'd, personally, make sure my friends got out first, suppress the news until the right people got out... then I'd find a scape goat on whom to blame everything , I'd hammer them hard and claim my policy of stopping the people pushing up prices had reversed the insanity and prices were coming down for "hard working families"

all events in this story are fictitious and any similarity to real events or people is purely coincidental.

smell the FEAR.

Well, I would say something like...

"I am a Conservative prime minister. I believe in free markets. I am for self reliance, hard work and responsibility. I am against state enabled cronyism and I will always face down vested interests who's actions work against the general good of our country. To quote Sir Winston, "we are for the ladder; let all try their best to climb"

The housing market is grossly distorted. High housing costs affect and infect every other aspect of our economy and society. They impact on wage demand and on benefit costs. They affect our very competitiveness in an increasingly global economy.

That the housing market is clearly weakening is therefore a good thing. But we must go further; from today I will announce the end of HTB and the HTB ISA. I never entered politics to trap a generation with unsustainable debt.

All tax relief, not just higher rate, on BTL loans will be abolished.

The planning system will be overhauled to allow more people to build their own homes and remove the dominance of volume housebuilders who profit hugely from building the smallest and yet most expensive new houses in Europe.

I understand that falling house prices will cause distress and concern in some quarters but these measures are for the greater good and will serve the long term interests of our country."

The speech is probably being written as we speak.

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It would be a good idea to repeatedly state "this is a global problem".

When discussing the solution repeatedly state that "if it isn't hurting it isn't working".

That should secure the next general election, but beware of losing the one after that due to arrogance and complacency.

Hypothetically speaking.

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imagine, your a self serving scum bag who's managed to grab power because you went to the right school and had connections.

now, imagine, you know, post election, that the housing bubble that ensured your election victory was falling apart, perhaps by design.

what would you do?

Use tax payers money to pump the market long enough to liquidate my positions.

Use my chums at the HSBC to hide the profits into a nice little tax-haven account run by some other chums.

Buy a villa in a friendly Caribbean Island from some realtor chums in case there is social unrest in Blighty.

However this has already happened June - November 2015 and so the hapless people left 'out of the posh-boy loop' and left holding the bomb are not 'my kind of people' anyway.

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If you're entirely self serving and don't consider the general interest of the UK and its people then basically what they've been doing for the last few years.

Also provide plenty of distractions. Eu negotiations and the like. Make sure the media play along - they always do.

Plenty of awards and air time to tame celebrities.

Edited by billybong

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By what metric is the housing market collapsing? Perhaps I missed it......

sales volumes, especially in London.

it would appear that you have indeed missed it.

some areas of London are already heavily down.

my guess, and it's only a guess, is its more widespread that we are being led to believe.

and as I keep saying, when London goes the whole south of England is toast.

now please, keep up.

by the way, this thread is hypothetical.

no one is saying this is what is going on, but you see what I am getting at.

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^This. Prices are up 50% here since 09/10 (SE)

Anyone still pending this collapse BS is delusional. The guberment will do everything it can including 100% HTB loans, MIRAS, etc..

100% help to banks loans.

now I know you've lost the plot.

if prices round your way are up 50% on the insane prices we saw collapse she banking system, can't you see how unstable, unsustainable that is?

why do you think the people at the bottom of that pyramid would want to join in even if they could?

if low interest rates, FLS lending to buy toilets and foreign buyers, sentiment and a pre election government is all there is behind this miracle boom then what do you think will happen when sentiment turns, rates are forced up by the US, the foreign buyers have already gone by all accounts, buy toilets become Unviable, Corbyn is elected and young people leave the country in their droves.

it's not wishful thinking, this is happening as yesterday showed.

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http://www.bbc.co.uk/news/business-34085149

property sales down 15%

fewer and fewer people saying more and more for a house.

it has all the hallmarks of, now what's that term, let me think, oh yes, A MEGA BUBBLE.

Agreed. But then how long does a bubble need to remain unburst to become a new norm? I fear the day will never come. I showed people at work a UBS graph where they recently declared London the biggest property bubble risk in the world. I was greeted with pitiful stares... the 'you can't participate in our club so you're bitter' type (it's true I am bitter about it) and my confidence is shaking that it will ever happen. Without this site I would have already capitulated on a shoebox :s

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Agreed. But then how long does a bubble need to remain unburst to become a new norm? I fear the day will never come. I showed people at work a UBS graph where they recently declared London the biggest property bubble risk in the world. I was greeted with pitiful stares... the 'you can't participate in our club so you're bitter' type (it's true I am bitter about it) and my confidence is shaking that it will ever happen. Without this site I would have already capitulated on a shoebox :s

I agree. BTW the fact that sales decline could partly because moving is a lot more expensive than it used to be.

FWIW I think prices should go down by a lot even though I would lose on paper.

Edited by iamnumerate

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^This. Prices are up 50% here since 09/10 (SE)

Anyone still pending this collapse BS is delusional. The guberment will do everything it can including 100% HTB loans, MIRAS, etc..

Sure. But it will still crash after that. We are really at the breaking point of what those excluded from ownership will tolerate. The taboo on discussing house prices falling is broken and the madness of HPI is everyday conversation for many. If the house prices don't give up. The ever more compressed renters will. Same result.

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some areas of London are already heavily down.

my guess, and it's only a guess, is its more widespread that we are being led to believe.

The key thing I remember from the early 90's crash was how the media just went completely quiet about property prices for a few years

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The key thing I remember from the early 90's crash was how the media just went completely quiet about property prices for a few years

Interesting observation.

History often repeats itself so it will be interesting to see how the media report it (or don't) when prices do inevitably start falling again on a nationwide basis.

Nothing goes up forever, not even UK house prices. It just feels like it sometimes!

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