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TheCountOfNowhere

House Prices Have Soared Since Carney Joined The Boe

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It strikes me that House prices have soared since Carney joined the BoE.

Didn't he oversee a massive bubble in Canada ?

Maybe, just maybe, he's the one causing/fueling the bubble ?

Many on here suspected this might happen when he arrived.

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It strikes me that House prices have soared since Carney joined the BoE.

Didn't he oversee a massive bubble in Canada ?

Maybe, just maybe, he's the one causing/fueling the bubble ?

Many on here suspected this might happen when he arrived.

You should be thankful that the BOE are vigilant.

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The housing market in places like Vancouver is out of control and shows just how bad it can get.

How this man drifts from job to job seemingly doing absolutely nothing amazes me. The BOE actually had to sweeten the deal for him to come over to the UK.

The level of incompetence of these people is staggering.

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Has Canada popped?

Obviously Carney was just going to keep the plates spinning.

Carney accelerated the plates....causing an uplift IMHO !!!!!

Edited by TheCountOfNowhere

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Once you've convinced yourself that private debts don't matter then an economy based around perpetual hpi is not merely feasible but optimising.

Edited by zugzwang

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The way I see it:

Osbourne: Budget 2010: "A sustainable private sector recovery built on a new model of economic growth, instead of pumping the debt bubble back up"

2010-2012 Austerity flatlines the economy

2012- Carney Appointed

2013- HTB & HPI

Present- We're all ******ed due to HPI. Banks re-inflated. Banksters happy. Job done.

I'm sure it's no coincidence:

Carney- Goldman Sachs

Draghi- Goldman Sachs

Hank Paulson- Goldman Sachs

Greece cooking of books- Goldman Sachs

That's just off the top of my head.

Edited by Assume The Opposite

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The way I see it:

2010-2012 Austerity flatlines the economy

Osbourne: Budget 2010: "A sustainable private sector recovery built on a new model of economic growth, instead of pumping the debt bubble back up"

2012- Carney Appointed

2013- HTB & HPI

Present- We're all ******ed due to HPI. Banks re-inflated. Banksters happy. Job done.

I'm sure it's no coincidence:

Carney- Goldman Sachs

Draghi- Goldman Sachs

Hank Paulson- Goldman Sachs

Greece cooking of books- Goldman Sachs

That's just off the top of my head.

Mervyn King would be sat smiling at this thread. You've just let him off the hook. Apart from what he did earlier on, the last thing he did was start the Funding for Lending Scheme which trashed saving rates just as they were starting to rise and brought down mortgage rates.

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Mervyn King would be sat smiling at this thread. You've just let him off the hook. Apart from what he did earlier on, the last thing he did was start the Funding for Lending Scheme which trashed saving rates just as they were starting to rise and brought down mortgage rates.

I've only mentioned the above because:

- It was relevant to the post.

- I wasn't really aware of much at the time of Merv as I was still in my teens!! :lol::lol::P

Please feel free to add to my post with info on the Brown/Blair/Merv era

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I've only mentioned the above because:

- It was relevant to the post.

- I wasn't really aware of much at the time of Merv as I was still in my teens!! :lol::lol::P

Please feel free to add to my post with info on the Brown/Blair/Merv era

I don't want to come across as another Carney apologist because you only have to look at his MO in Canada, to know what he was going to be like. On the day he was appointed I said he was the worst of the lot. I just hate King's helping hand to be forgotten.

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I don't want to come across as another Carney apologist because you only have to look at his MO in Canada, to know what he was going to be like. On the day he was appointed I said he was the worst of the lot. I just hate King's helping hand to be forgotten.

Absolutely correct.

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Once you've convinced yourself that private debts don't matter then an economy based around perpetual hpi is not merely feasible but optimising.

yeah but........household sector has deleveraged somewhat whilst prices have risen.

Its a supply side issue.

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It's definitely a credit issue. The current number of dwellings per 1,000 people is significantly higher than it was in the mid-90s, when the last serious house price correction occurred, and it's forecast to remain above that level for at least 10 years:

2e3cyuw.jpg

CBR, UK Economy Forecast Report, Winter 2015

Edited to add link to source.

Edited by Neverwhere

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Carney said (just after he started) that house prices were rising but from a low level and he does not see high house prices as a problem, financial stability and indebtedness were all that mattered.

Prices have increased due to cheap debt and free debt (HtB) and as long as they are underpinning the whole ponzi then the sorry state will persist. Don't forget HPI is a large component of GDP via imputed rent and rose (I looked at this a few years ago) in three or so years from 7.9% of GDP to over 10.5%, I guess that figure is even higher now as a % and in total.

The Imputed Rent numbers are a big deal yet there is so little coverage of them in the media sadly. I guess they do not understand it and leave it alone.

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It's definitely a credit issue. The current number of dwellings per 1,000 people is significantly higher than it was in the mid-90s, when the last serious house price correction occurred, and it's forecast to remain above that level for at least 10 years:

2e3cyuw.jpg

CBR, UK Economy Forecast Report, Winter 2015

Edited to add link to source.

LOL the forecast. Are we going to stop immigration or put infertility drugs into the air?

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Once you've convinced yourself that private debts don't matter then an economy based around perpetual hpi is not merely feasible but optimising.

It's the only real way to get large sums of bank credit money into the system.

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LOL the forecast. Are we going to stop immigration or put infertility drugs into the air?

The UK population grew by 202,739 people over 2014, and 144,990 new residential units were completed in the UK in 2014. Given couples and families generally cohabit building 0.72 new residential units for every new person added to the population seems fairly reasonable.

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