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Simon Evans Goes to market - Radio 4, 1130am, 8th Feb - Brilliant!

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Not new, it is a repeat, although I can't remember how long ago since I first heard it! Still true though and I love the comment about the property ladder being more akin to jumping from rope ladders dangling from helicopters being flown by gibbons!

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2 hours ago, wsn03 said:

Very funny, very true, predicts a crash and links house prices to a bubble and the availability of credit. Meryn Somerset Webb is one of the guests. No one is pro hpi.

Find it on i-player and listen if you want some hope!

So far there is not much sign of the credit running out. About 30mins after reading this I got an offer from Tesco for a 5yr fix at 1.78%. 

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Could be credit tightening ahead - could be credit revulsion.  

Open to both possibilities and track the US mortgage stuff here, with a mind that tighter money in US may follow in UK.  http://www.mortgagenewsdaily.com/consumer_rates/

Credit credit everywhere, and not a pound worth borrowing (against these house prices) imo.


Sir Jon Cunliffe: The other thing that has come in increasingly over the last 15 years is not owners occupiers but buy to let. Virtually all the growth in mortgages over the last few years has come from buy to let, not owner occupier.




So it is plain to see why your friend on the inside can easily tell you when to buy.. but he cannot and will not tell you when to sell.  That would be equivalent almost to treason to his associates.  [........]  I urge you always to keep a little notebook with you. Jot down interesting market information; thoughts that may be helpful in the future, ideas that may be re-read from time to time; little personal observations you may have made on price movements. On the first page of this little book I suggest you write - no, better print-it in ink:  "Beware of all inside information . . .all inside information."

It cannot be said too often that in speculation and investment, success only comes to those who work for it. No one is going to hand you a lot of easy money. If there was any easy money lying around, no one would be forcing it into your pocket.

-Jesse L. Livermore (How To Trade In Stocks - 1940)


... when slump begins, cheery news and upbeat reasoning from same people who gave the glowing-tips to buy, as they try to steady or cash-out their positions!  "Buy more, don't sell, even better times ahead."

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