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skewiff

Independent: Housing Bubble Has Burst

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The cynical side side of me say`s this is all about scaremongering al al brexit,, i hope i`m wrong and it`s the start

If it`s scaremongering i think dave&co have made a big mistake as the way i see it the youngsters are the ones who are most likely to vote to remain they are also the ones who will benefit most from lower house prices ....the only question is will they actually bother to vote ...this is a very good incentive IMO

Edited by long time lurking

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The cynical side side of me say`s this is all about scaremongering al al brexit,, i hope i`m wrong and it`s the start

If it`s scaremongering i think dave&co have made a big mistake as the way i see it the youngsters are the ones who are most likely to vote to remain they are also the ones who will benefit most from lower house prices ....the only question is will they actually bother to vote ...this is a very good incentive IMO

They are saying what we have been for a year.

I've seem some MSM outlets saying the 30% of zoopla listings are price drops....this was the case on RM last summer before the pension flood was unleashed.

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They are saying what we have been for a year.

I've seem some MSM outlets saying the 30% of zoopla listings are price drops....this was the case on RM last summer before the pension flood was unleashed.

And what did the press report last summer when the same was happening ? ....it just smells of fear mongering ..im not doubting the story as i`m seeing the same i`m just suspicious of the motives of the reporting and the timing, the asking price drops have been happening for a long long time now

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Yes, it is very suspicious. There were 3 newspaper reports, I think, suggesting a crash on the same day.

Are our papers really ruled that much by what the government tells them?

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Yes, it is very suspicious. There were 3 newspaper reports, I think, suggesting a crash on the same day.

Are our papers really ruled that much by what the government tells them?

It would appear so. Everything is orchestrated in the MSM.

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Yes, it is very suspicious. There were 3 newspaper reports, I think, suggesting a crash on the same day.

Are our papers really ruled that much by what the government tells them?

Obviously it had nothing to do with the halifax figured being released yesterday then.

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Yes, it is very suspicious. There were 3 newspaper reports, I think, suggesting a crash on the same day.

Are our papers really ruled that much by what the government tells them?

Probably to contrive "Brexit concern" - "don't take a Remain vote for granted people, see how Brexit is already eating into your wealth!"

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It would appear so. Everything is orchestrated in the MSM.

I was point out all summer, last year, tghe massive price drops people were making to sell their house now the MSM are reporting much the same everyone thinks prices are crashing....yet HTB stands, FLS stands, immigration stands etc etc ect.

Nothing, much, has changed

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I was point out all summer, last year, tghe massive price drops people were making to sell their house now the MSM are reporting much the same everyone thinks prices are crashing....yet HTB stands, FLS stands, immigration stands etc etc ect.

Nothing, much, has changed

It actually being reported in the MSM is a major difference.

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I was point out all summer, last year, tghe massive price drops people were making to sell their house now the MSM are reporting much the same everyone thinks prices are crashing....yet HTB stands, FLS stands, immigration stands etc etc ect.

Nothing, much, has changed

Apart from a referendum in six weeks ......why the big headlines now when like you say it`s been happening for a long time now

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Yes, it is very suspicious. There were 3 newspaper reports, I think, suggesting a crash on the same day.

Are our papers really ruled that much by what the government tells them?

It's remarkable how often the headlines seem the same almost simultaneously on some issues even on the same day. Even on issues that one wouldn't normally associate with government. The newspapers and media do hold regular "press briefing" meetings with the government (apparently quite often every day) and a lot of the media is in cross ownership and the news pipelines/outlets are pretty centralised these days.

Apparently there could be about 60 or so people in the Downing Street press office. According to reports in the media some journalists get threatened with being banned from press meetings if they don't toe the line on the news angle to be broadcast.

That's not to say that this crash news is necessarily being government led but it looks like there is definitely some sort of coordination at some level. As others have mentioned it might be somehow linked to scary stories to do with Brexit. The government did say that house prices would go down if there's a Brexit.

Edited by billybong

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Obviously it had nothing to do with the halifax figured being released yesterday then.

A 0.8% mom drop has never generated headlines like that ...the article is quoting the zoopla asking price drops

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It's remarkable how often the headlines seem the same almost simultaneously on some issues even on the same day. Even on issues that one wouldn't normally associate with government. The newspapers and media do hold regular "press briefing" meetings with the government (apparently quite often every day) and a lot of the media is in cross ownership and the news pipelines/outlets are pretty centralised these days.

Apparently there could be about 60 or so people in the Downing Street press office. According to reports in the media some journalists get threatened with being banned from press meetings if they don't toe the line on the news angle to be broadcast.

That's not to say that this crash news is necessarily being government led but it looks like there is definitely some sort of coordination at some level. As others have mentioned it might be somehow linked to scary stories to do with Brexit. The government did say that house prices would go down if there's a Brexit.

Such is the speed of the modern news cycle, a story leads in one paper, and the other papers effectively copy and paste the story. Lazy journalism as opposed to conspiracy I'm afraid....

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I literally just spat my coffee out when the sister in law sent me an email to say our old flat in Seven Sisters had sold last July for 405K (we sold in 2011 for £231K). Looking at the Zoopla data, in 5 years it's increased by.....

73.6%

And looking at the pictures, they've done NOTHING to it - same wallpaper, kitchen, bathroom, albeit looking a bit warn out and a bit less well kept.

I'm not sure any of this is going to end well :blink:

Edited by MinceBalls

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Guest BillyNI

I become more and more certain it won't end well for ANY of us. Something will be done to make sure even those who don't own will pay the price of this folly.

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Looking at Zoopla sold data for 3 areas I know well (where I grew up in the Cotswolds, where I lived in London and where I live in the South East now), whilst the % price increases in the last few years have varied quite considerably, it looks like they all follow a very similar same pattern and that sold prices peaked in the Autumn 2015 and have been drifting down since.

Of course, if this continues, it will be blamed on BREXIT for a long time yet (I expect it will be used as an excuse for the rest of the year).

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I become more and more certain it won't end well for ANY of us. Something will be done to make sure even those who don't own will pay the price of this folly.

Ultimately I think you might be right. It will probably be a case of 'if I can't have it no one can' akin to a child ruining something as opposed to letting someone else have a go.

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The government can see another bubble destroying the economy, this time they can't bail it out.

so they are trying to force a correction earlier and draw the large falls out over 2 years instead of it just collapsing overnight.

they need to employ the press and sentiment is key. the BTL changes did affect sentiment but no-where near as drastic as they wanted.

We will get 'prices falling' stories for the next 12-18 months now.

I do think the gov also encouraged BTL. they needed someone to take the fall. great politics.

cheap houses next year :)

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The government can see another bubble destroying the economy, this time they can't bail it out.

so they are trying to force a correction earlier and draw the large falls out over 2 years instead of it just collapsing overnight.

they need to employ the press and sentiment is key. the BTL changes did affect sentiment but no-where near as drastic as they wanted.

We will get 'prices falling' stories for the next 12-18 months now.

I do think the gov also encouraged BTL. they needed someone to take the fall. great politics.

cheap houses next year :)

They are trying to draw it out, but have failed. It's out of control now. Price rises beget price rises, price falls beget price falls.

The recent press is just a response to that - I don't believe it's a case of the goverment enlisting the help of the media to change sentiment, they've done that all by themselves.

For me, a big part of the expectation of a crash is kneejerk reactions to an inflating bubble. The failure to prevent a crash occurred with the failure to recognise we were in one, and that failure guarantees a late, kneejerk reaction which guarantees a crash.

This is why is has been inevitable for so long now. The further into the bubble action to deflate it occurs, the bigger the pop.

When Carney said 2 years ago that the bank didn't see a bubble forming but were keeping a vigilant eye on it, the crash was baked in because he was absolutely wrong.

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Yes, it is very suspicious. There were 3 newspaper reports, I think, suggesting a crash on the same day.

Are our papers really ruled that much by what the government tells them?

Nothing to do with 3 different spins on the same zoopla report then?

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Is there time for a decent crash (50%+), and green shoots before the next GE? The reason I ask is it will have to be a big MF in order to tackle this current Moron induced stupidity.

Yeah, loads of time - don't forget that London almost doubled in the space of a couple of years. If it can do it on the way up then it can do it on the way down.

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