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Smiley George

5 Live HPI agenda

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Caught 10 mins of BBC 5 Live this morning, they were discussing the IFS study ref young people with deposits unable to afford homes.

"Expert" (didn't catch who or where he was from) is invited on to discuss and goes straight to the heart of the issue, what do you think that was?

........"the problem is people can't borrow enough to afford the homes"

This went largely unchallenged by the team in the studio, I had my head in my hands, I utterly despair. So the current issue with the UK housing market is that we can't take on enough debt to buy the homes, I know a man who can change that.....step forward Mr Carney, your time has come.

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Had a thought the other day about the constant 24/7 media and all the subjects we talk about, to to death to be more exact. And I wondered in this new great era where nothing is hidden and everything is discussed in today's join in have your say media if it was just a way of letting us all let off steam while while  nothing is ever done as they give us the illusion they are listening.

This housing thing on Five live being a great example, I have had endless emails read out live, was once on live myself with a producer phoning me up later  asking to do a longer bit for a housing piece they were doing in a few weeks, I refused. This has been going on year, several housing ministers roughly been on to explain how they are going to deal with the housing crisis, all with solutions, and yet we are worse today than ever.

It's all so disheartening and frustrating, maybe the media are not talking for us, they are just a stress relief punchbag

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53 minutes ago, Smiley George said:

Caught 10 mins of BBC 5 Live this morning, they were discussing the IFS study ref young people with deposits unable to afford homes.

"Expert" (didn't catch who or where he was from) is invited on to discuss and goes straight to the heart of the issue, what do you think that was?

........"the problem is people can't borrow enough to afford the homes"

This went largely unchallenged by the team in the studio, I had my head in my hands, I utterly despair. So the current issue with the UK housing market is that we can't take on enough debt to buy the homes, I know a man who can change that.....step forward Mr Carney, your time has come.

Yes, more private sector debt. That's what the UK economy needs. A concerted effort and we might be able to get it back up to 190% of GDP.

:blink:

ukdebtandcredit.jpg

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3 hours ago, zugzwang said:

Yes, more private sector debt. That's what the UK economy needs. A concerted effort and we might be able to get it back up to 190% of GDP.

:blink:

ukdebtandcredit.jpg

Wow. Interesting chart, I'm sure the reasons are many and complex, but in essence is that ramping of debt against GDP from mid-80's mainly attributed to the deregulation of the city?

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Just now, Smiley George said:

Wow. Interesting chart, I'm sure the reasons are many and complex, but in essence is that ramping of debt against GDP from mid-80's mainly attributed to the deregulation of the city?

Essentially, yes. It illustrates the liberalisation of credit and the financialisation of the UK economy through the 1980s, 1990s and on up until 2008 when the entire, sordid enterprise collapsed outright. Even then the debt/GDP ratio continued to rise as the UK economy contracted, reaching a peak of 190% in 2010. Thereafter, it began to correct sharply until Osborne and Carney's various housing subsidies kicked in (Help to Buy, Funding for Lending etc) creating an echo housing bubble that reversed the trend again.

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6 hours ago, inbruges said:

Had a thought the other day about the constant 24/7 media and all the subjects we talk about, to to death to be more exact. And I wondered in this new great era where nothing is hidden and everything is discussed in today's join in have your say media if it was just a way of letting us all let off steam while while  nothing is ever done as they give us the illusion they are listening.

This housing thing on Five live being a great example, I have had endless emails read out live, was once on live myself with a producer phoning me up later  asking to do a longer bit for a housing piece they were doing in a few weeks, I refused. This has been going on year, several housing ministers roughly been on to explain how they are going to deal with the housing crisis, all with solutions, and yet we are worse today than ever.

It's all so disheartening and frustrating, maybe the media are not talking for us, they are just a stress relief punchbag

The main stream media is talking to the people who imbibe and buy into what the main stream media says.

How many people under the age of 50 are like that?

How many people over the age of 50 are like that?

In essence the job of the main stream media is to tell baby boomers and pensioners what they want to hear.

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6 hours ago, zugzwang said:

Yes, more private sector debt. That's what the UK economy needs. A concerted effort and we might be able to get it back up to 190% of GDP.

:blink:

ukdebtandcredit.jpg

Huh, anyone else reminded of the curve in the rent as proportion of income graph in that other thread past couple days? A similar mad climb. Difference being that this one doesn't sort of level off, it peaks, crashes then looks like on way up again. But the first few years are pure uppity in both.

image.thumb.png.4120226d9b13d14af253ab50af1fed33.png

 

 

 

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10 minutes ago, North London Rent Girl said:

Huh, anyone else reminded of the curve in the rent as proportion of income graph in that other thread past couple days? A similar mad climb. Difference being that this one doesn't sort of level off, it peaks, crashes then looks like on way up again. But the first few years are pure uppity in both.

image.thumb.png.4120226d9b13d14af253ab50af1fed33.png

 

 

 

Pretty good fit. It's also worth remembering that Osborne's echo bubble is London/SE focused, whereas Brown's bubble was nationwide.

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The bbc is the biggest but also the most insidious cheerleader for HPI of all the msm, even more so than the Dail Mail, Express or Torygraph.

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7 minutes ago, nome said:

The bbc is the biggest but also the most insidious cheerleader for HPI of all the msm, even more so than the Dail Mail, Express or Torygraph.

There are a lot of people 30s to 45 approx working at the BBC (and other media companies) who have taken on large mortgages against the income they receive from the BBC so only natural they have a certain view on the direction of house prices..... ;)

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13 hours ago, winkie said:

There are a lot of people 30s to 45 approx working at the BBC (and other media companies) who have taken on large mortgages against the income they receive from the BBC so only natural they have a certain view on the direction of house prices..... ;)

Plus the older people also working at the bbc who want to protect their mad gainz and are also undoubtedly into BTL.

 

Plus the most obvious reason of all... that the bbc is the UK's State Controlled Media, and I think it's safe to say we all know how the govt feels about HPI.

Edited by nome

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20 hours ago, Lurkerbelow said:

In essence the job of the main stream media is to tell baby boomers and pensioners what they want to hear.

The BBC is s++t but is no worse than twatter and me-book which tell children that they can have anything they want if they just ask 

8 hours ago, nome said:

Plus the older people also working at the bbc who want to protect their mad gainz and are also undoubtedly into BTL.

 

Plus the most obvious reason of all... that the bbc is the UK's State Controlled Media, and I think it's safe to say we all know how the govt feels about HPI.

Most of the presenters I see on the beeb are black or Asian in their 20's or 30's these days

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  • 261 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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