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All About Property With Gabby Logan 5 Live

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I rarely make posts on here - I'm a silent observer.

But I'm really angry right now.

I've just had to switch off after listening to the first 15 minutes of what appears to be a regular Sunday morning programme on 5Live - All about Property with Gabby Logan.

http://www.bbc.co.uk/programmes/b06dbl8t

I kind of got the feeling it was geared towards homeowners within about 2 minutes because of the nature of the beginning rhetoric.

But then they switched to the week's news in property speaking with some guy (who's name I can't remember) based in Exeter to go through the newspaper headlines this week.

I don't know who this man was but he was so blatantly connected with the property market and totally biased to HPI.

There was mention of the Spicer Haart chief taking about how we had reached the top of the market and drop in buyer numbers.

The correspondent very cleverly flipped it and dismissed it along the lines of,

'I can understand where he is coming from but we can explain this away due to the rush to avoid stamp duty and besides, it is so unbelievably cheap right now to borrow, I think we are nowhere near the peak in my opinion'.

Then they moved on to the story about the pending increase in young people being forced to live with their Mum and Dad for longer and again it was flipped it to

I'm very much a glass half full kind of guy and we have to look at the positives from this, saving money, having better quality family time'. The two of them were joking about this catastrophe facing this country and it's implications.

How is the bbc allowed to peddle this sh*t and show such blatant bias..

I'm of the opinion that house prices will not fall anytime soon (even though it's the best thing that could happen for our country) purely because of public resistance and the government will do ANYTHING to keep the status quo as long as the majority of the population are happy..

Rates will not rise anytime soon - if anything they will fall further. My gut instinct is that we are facing years if not another decade of low rates.

Brexit won't make any difference.

I'm 45 now and have waited for so long for the right thing to happen - it's just not going to be allowed to, I can't risk waiting till I'm 50 in the hope that justice will prevail so I intend to buy within the next 6 months.

When you listen to the programmes like the above, it brings it home what we are really up against.

We can all complain and speculate, but the only thing that will really change government policy is if people (most notably young people) start to actually galvanise and make mass public protests. A forum isn't enough. There needs to be radical action for the message to start getting through and it ain't gonna happen,

The young are so apathetic and don't really understand the nature of the problem and how it can be solved. They don't understand that they can actually take action and that they actually have a choice..

On the other side, I did here Will Self on Radio 4 this morning talking about how selfish the older middle classes are and what we have done to our children...

http://www.bbc.co.uk/programmes/b006qng8/episodes/downloads

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At the end of the day, what goes up.

The economy is not earning enough to fund any of it, if it was we would all be able to afford a house easily.

Kicking the can just makes it a higher drop.

As regards waiting, the drop will be slow and drawn out , no need to rush. There will be no bargains, just a new market level.

Wait for the forced sellers to hit the market.

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Heh - I blurted out my frustration on another thread, but yea, I agree completely.. the programme seemed to live on a different planet to my experience of being a wannabe buyer.

When the chap was going on about how people live with their parents in Spain until marriage and how great they had it, and so how high property/rise prices were a good thing for family life - it kind of beggared belief.

Having a young population with confidence to find themselves, move to new places and look for work they want to do is surely a good thing - but nope, here we all just need to sit back in whatever place we grew up and accept our lot.. after all, they do in Spain..

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The trouble with the BBC is its part of the establishment & it suits the establishment to have high house prices and people up to their arses in debt to pay for said overpriced houses along with lots of consumer tat they don't really need so they're forced to work as hard as possible so they pay as much tax as possible and help the rich get richer.

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...

I'm of the opinion that house prices will not fall anytime soon (even though it's the best thing that could happen for our country) purely because of public resistance and the government will do ANYTHING to keep the status quo as long as the majority of the population are happy.

...

I thought that about 2004. IMO this is no longer true - there are too many people with too much money who would just soak up property if prices went down. We could probably do with a crisis which reduces everyone's unearned wealth, while supporting ongoing labour / value creation. A currency crisis would do it. Even then, worldwide cash would flow in...

And they will do anything to support property - even if there was a currency crisis they'd not increase interest rates (much, anyway).

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I have pretty much decided that unless I can buy with a small mortgage (~ 2x salary) a place I would happily retire in I am not buying. There are just too many unknown variables these days to be comfortable with carrying extreme amounts of debt.

Once too many people are disenfranchised something will give, and that should not be long on current trajectory.

Just need to convince other half now.

Edited by doomed

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Same for me I am 50, I have maybe 100,000 cash. I will return to UK soon. I want to buy somewhere but this looks very bad for me. I need a 4 bedroom house in my home town is ? 300,000. My best guess is even a small crash wipes out my equity very fast. All that will remain is the 200,000 mortgage.

(I won't be owning anything at this point?)

Leverage is excellent on the way up. Going down its a different ball game. I would think this will happen in the near future.

If I had 300,000 I would not worry about a 30% crash I would still have a house. BIG DIFFERENCE between 100,000 and 300,000

The leverage amplifies your losses on the way down.

If you think about it, you are much safer with 300,000 house with no mortgage. (bullet proof)

than a 300,000 equity in a million pound house. (about to get wiped out!!!)

At this point it is very unsafe to go in with 10-40% deposits. It will be your money that gets wiped out first.

If you buy 100% cash the coming HPC does not affect you, it is irrelevant.

All people can think about is HPI. They aren't really thinking about what happens when this goes down. It can't last much longer.

I am not throwing my savings into the fire!

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I rarely make posts on here - I'm a silent observer.

But I'm really angry right now.

I've just had to switch off after listening to the first 15 minutes of what appears to be a regular Sunday morning programme on 5Live - All about Property with Gabby Logan.

http://www.bbc.co.uk/programmes/b06dbl8t

I kind of got the feeling it was geared towards homeowners within about 2 minutes because of the nature of the beginning rhetoric.

But then they switched to the week's news in property speaking with some guy (who's name I can't remember) based in Exeter to go through the newspaper headlines this week.

I don't know who this man was but he was so blatantly connected with the property market and totally biased to HPI.

There was mention of the Spicer Haart chief taking about how we had reached the top of the market and drop in buyer numbers.

The correspondent very cleverly flipped it and dismissed it along the lines of,

'I can understand where he is coming from but we can explain this away due to the rush to avoid stamp duty and besides, it is so unbelievably cheap right now to borrow, I think we are nowhere near the peak in my opinion'.

Then they moved on to the story about the pending increase in young people being forced to live with their Mum and Dad for longer and again it was flipped it to

I'm very much a glass half full kind of guy and we have to look at the positives from this, saving money, having better quality family time'. The two of them were joking about this catastrophe facing this country and it's implications.

How is the bbc allowed to peddle this sh*t and show such blatant bias..

I'm of the opinion that house prices will not fall anytime soon (even though it's the best thing that could happen for our country) purely because of public resistance and the government will do ANYTHING to keep the status quo as long as the majority of the population are happy..

Rates will not rise anytime soon - if anything they will fall further. My gut instinct is that we are facing years if not another decade of low rates.

Brexit won't make any difference.

I'm 45 now and have waited for so long for the right thing to happen - it's just not going to be allowed to, I can't risk waiting till I'm 50 in the hope that justice will prevail so I intend to buy within the next 6 months.

When you listen to the programmes like the above, it brings it home what we are really up against.

We can all complain and speculate, but the only thing that will really change government policy is if people (most notably young people) start to actually galvanise and make mass public protests. A forum isn't enough. There needs to be radical action for the message to start getting through and it ain't gonna happen,

The young are so apathetic and don't really understand the nature of the problem and how it can be solved. They don't understand that they can actually take action and that they actually have a choice..

On the other side, I did here Will Self on Radio 4 this morning talking about how selfish the older middle classes are and what we have done to our children...

http://www.bbc.co.uk/programmes/b006qng8/episodes/downloads

i brought a house last year. it was really now i never. i

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I thought that about 2004. IMO this is no longer true - there are too many people with too much money who would just soak up property if prices went down. We could probably do with a crisis which reduces everyone's unearned wealth, while supporting ongoing labour / value creation. A currency crisis would do it. Even then, worldwide cash would flow in...

And they will do anything to support property - even if there was a currency crisis they'd not increase interest rates (much, anyway).

And it's precisely that sort of thinking powers the bubble on to madder and madder heights.

From talking to people, it seems there are still many in London witholding their cash waiting to pounce as they too believe some downturn is imminent. That's the thing though, prices will never fall far enough because these people are ready to deploy their capital at a moment's notice to shoot it back up. I think many will be surprised at how rich a large portion of Londoners actually are. They are just waiting for what they think is the opportune moment.

Load of chronic, imo. Those 2 developer London identical twins were saying exactly the same thing in 2007, and saying the future will be a world of those who have BTL, and those who don't. - just before weakness crunch (then all the excuses for rescues), - and Gov, and world Govs have printed it by £Trns to save things from then pumping up prices to ever higher levels. Just hope there will be fewer HPCers so eager to sacrifice renters in defence of your market position - as they were in 2008-2010... how you're innocent victims of everything but your own market decisions/greed etc, when HPC hits, next time around.

I saw them have to sell the house they had done up in Richmond (not themselves - they didn't get out their suits... Aston Martin) for a bit less than they bought it as a wreck.

Although reflation looks like it allowed them to keep other high value properties.

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