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Do we even need a HPC?

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I've just delved into the Twitter posts of a certain Tweeter (name is irrelevant) who provides a stream of examples of how f#cked up USA election / world debt / central banks / mainstream media / stock market are...

Oh god what is the point of carrying on? Why are we worrying about affordable housing when everything seems so corrupt.  I know some commentators are very biassed... Do we just ignore those things and carry on working 9-5 and drinking lattes?

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We need more self-determination in the hands of ordinary people: the corruption, rentierism and protest politics is the result of the increasing power of a small minority over the common working man. A house price crash is absolutely necessary to give us back some of that self-determination and dignity.

I know you know all this, and your post was a cry of nihilistic pain, but an HPC would surely be a sign of the world "trying to right itself", as a recent thread put it so poignantly (before it was immediately torpedoed by cynical posters).

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"Lord, grant me the serenity to accept the things I cannot change, Courage to change the things I can, And wisdom to know the difference."

― Reinhold Niebuhr

 

We have to carry on, waiting, influencing and hoping for basic changes.

2000-2007 mad runaway HPI worship celebration.  Mad lending and mad borrowing.  Property-investors 'providing homes' BTL 5-10+.  2009-2016 double down (as the banks recapitialised).   So much more of the balance sheet risk is with the BTLers and HPIers now, imo.  HPC the HPIers, and banks positioned for fresh lending against much lower asset prices.

There's a long-wave HPIer on MSE who is selling his BTLs btw.  In the 'business' for years.  Apparently CGT £800,000 due so far. 

If you can trust yourself when all men doubt you, 
    But make allowance for their doubting too;   
If you can wait and not be tired by waiting, 
    Or being lied about, don’t deal in lies, 
Or being hated, don’t give way to hating, 

Yours is the Earth and everything that’s in it,   
    And—which is more—you’ll be a Man, my son!

If— 
BY RUDYARD KIPLING
 

 

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