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RichM

Anyone Fancy A Cup Of Cold Sick?

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Don't be scared of equity release

***shudder***

As our chart shows, in aggregate, net equity in residential property is far and away people's largest asset. They slog their guts out during their working lives to build up this asset. Their main form of saving is paying off the mortgage. Many see their house as their pension.

Except that they only really struggled for a few years, for inflation to erode their debt. Can't see that happening anytime soon for this generation.

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And what will have happened to property prices? Provided that you do maintain your property, over 25 years it should appreciate substantially.

Indeed, it is not inconceivable that the house will have appreciated in value more than the loan.

Really? That didn't happen in Japan when their bubble burst.

He's starting to sound like various estate agents and TV personalities we loath and despise.

Don't worry if the rent doesn't cover the IO mortgage, property always goes up, innit?

Think it might have something to do with his wife not allowing him to sell the house and get out of this bubble?

Roger Bootle talks up the housing market... :lol::lol:

Edited by BandWagon

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This is, of course, true but it omits to say that the consequence is living for the rest of your life in a smaller or less nice property. That is a cost of a very different sort and many people may rightly regard it as larger.

Bootle has made the full transformation from economist to debt pusher, together with all the associated spin and twist; he is effectively saying live beyond your means even if you can't afford it and if you can't then just borrow the money to do so.

More please

For all its umpteen faults, the financial services industry greatly improves our lives by enabling the separation of earning and consuming. It made a fantastic contribution with the development of the mortgage market.

I look at a lot of the financial services industry now and quite frankly it disgusts me. I suggest Bootle widens hiw outlook a little and start reading seom fo teh debt boards and

Short termist, doesn't give a rats **** about the state it puts individuals or indeed the whole economy in and it cannot be trusted to to do anything that isn't heavily regulated without turning what should be a useful service into something that ultimately is used merely to generate more fees a little else of real material use.

Edited by OnlyMe

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I suspect the vast majority of people like Bootle who come out with the crap about financial services have never actually worked within it. I suspect if you actually asked people within a FS organisation, they might be as equally concerned about equity release as some on this board.

Bootle (apart from discrediting himself) has now turned coat and as such the crash may begin in earnest.

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Is there a newspaper that I can read that doesn't allow this sort of thing to go on? One that speaks for the boomer-echo FTB?

I'm with you and it's very sad. The FS industry is too powerful from an ad spend perspective and no main stream paper is going to p*** them off. So now all we have are VI mouth pieces, think it was similar in the late 80s early 90s, but stand to be corrected.

The solution; I don't buy newspapers anymore, I don't watch much BBC/ITV or main stream news channels. I use the internet mainly; on selected sites, bullish and bearish to get a balance and read mags like the economist now and again. Sanity restored!

In fact a good topic for pinning would be what sources to read to get a balanced view of the housing market and economy as a whole...I think newcomers would benefit.

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Is there a newspaper that I can read that doesn't allow this sort of thing to go on? One that speaks for the boomer-echo FTB?

The New Statesman - often has quite realistic business pieces on property and has been more than hinting at a crash for a while now on the business pages.

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I suspect the vast majority of people like Bootle who come out with the crap about financial services have never actually worked within it. I suspect if you actually asked people within a FS organisation, they might be as equally concerned about equity release as some on this board.

Bootle (apart from discrediting himself) has now turned coat and as such the crash may begin in earnest.

You've taken the words out of my mouth. I've always been of the opinion that the crash will begin when many of the bears throw in the towel. I recall many bear analysts c. 1998-99 who then did an about face and suddenly became bulls. Far from being seen as bad, Bootle's sudden bullishness is excellent news for us bears. I can't think of one economist/analyst who is bearish; the PERFECT cpnditions for a crash!

Anyone who has studied human behavioural theory and the madness of crowds will have an even clearer understanding.

I reckon the correction has now begun and poor old Bootle will be left with egg on his face.

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  • 336 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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