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No One

Its Going to Be Biblical

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19 hours ago, 2buyornot2buy said:

Didn't happen in Northern Ireland. Prices fell 60%. Lots of people bought after 20% falls thinking it couldn't fall further. 5 years later and prices were still dropping. 

The market in Ireland is totally different to England which has the greatest density of population per sq mile than any other nation in Europe which puts stress on housing 

3 hours ago, Fromage Frais said:

That was my mistake

House prices where clearly falling and still not good value or reverted to or overshoot the historic trend to the downside.

Gov intervention FLS and HTB juiced it all and my mistake was not seeing that would re inflate it all fast.

I know that is the point there is a time to buy and it is better to buy a bit earlier than the bottom of the market than leave iot too late

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6 minutes ago, happyguy said:

The market in Ireland is totally different to England which has the greatest density of population per sq mile than any other nation in Europe which puts stress on housing 

 

Nonsense

Holland Belgium and the industrial heartlands of France Germany and northern Italy. FFS.

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21 minutes ago, happyguy said:

The market in Ireland is totally different to England which has the greatest density of population per sq mile than any other nation in Europe which puts stress on housing 

I know that is the point there is a time to buy and it is better to buy a bit earlier than the bottom of the market than leave iot too late

Huh.... Belfast has a greater population density than London. 

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2 hours ago, happyguy said:

 

I know that is the point there is a time to buy and it is better to buy a bit earlier than the bottom of the market than leave iot too late

True enough though. Bottom picking has never been an advisable habit.

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15 minutes ago, Si1 said:

One day there won't be a productive economy left.

Well indeed, it has been outsourced

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On 06/12/2018 at 09:21, No One said:

 

I am now convinced that there is nothing stopping this train wreck.

We are in the equivalent of 2007.

 

Makes me think of the mania and naivety surrounding help to buy. George and Dave drinking mugs of tea with giddy twenty somethings in soulless new build estates in poor areas.

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On 06/12/2018 at 15:09, dom said:

This one is ******ing mint! Aussies are thick as shit and shallow enough to paddle in.

 

Best line in this video.. 

“Loan to income gap is too far out of whack”

Considering most of outer London prices are 17x wages, nothing wrong with that.. 😂🔨

completely sustainable.. Who lends 17x wages again? 

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On 06/12/2018 at 09:21, No One said:

 

I am now convinced that there is nothing stopping this train wreck.

We are in the equivalent of 2007.

 

Haha there is one smart aussie. Her boyfriend split and did a runner. Maybe he was a PoM?

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On 07/12/2018 at 15:18, Si1 said:

Nonsense

Holland Belgium and the industrial heartlands of France Germany and northern Italy. FFS.

If England was an independent country it would have the highest population density of any major economy in the world.

I didn't believe it until I did the maths myself.

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Now that Bruce and Brucetta have been 'officially' told to prepare 

https://www.zerohedge.com/news/2018-12-10/australia-warned-prepare-severe-housing-collapse-and-banking-crisis

a gem of a comment arrives.

"a correction but it won't be allowed to hit the real economy. First if houses are dumped then builders go broke. The building industry collapse would spring a retail collapse (another huge employer) which together with falling loan books in the banks means the banks are are risk and since they make up 25% of the share mkt that means investors and pensioners take a hammering.

Don't gloat that at least you can afford a cheap house now. If it's too cheap you won't have a job.

Answer: first drop rates to zero and use national powers to demand the drop is passed to mortgage holders.

Next legislate for mortgage holders to tap their super (pension funds).

Next, grab whatever pensions are left to recap the banks and leave an IOU.

Then print money via QE.

Then sell off assets like ports, power grids, federal land, start a US military base with a US loan,

then open the floodgate to anyone with $2M and a forged passport to buy a house with free citizenship.

 

Oz is different. We won't let politicians get away with it like the US does and besides they have plenty of their money in real estate too.

The left will win the 2019 election and then the drunken spending starts.

The govt actually has a pretty good credit rating compared to most and the credit card will burn."

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26 minutes ago, Cosmic Lunatic Asylum said:

Now that Bruce and Brucetta have been 'officially' told to prepare 

https://www.zerohedge.com/news/2018-12-10/australia-warned-prepare-severe-housing-collapse-and-banking-crisis

a gem of a comment arrives.

"a correction but it won't be allowed to hit the real economy. First if houses are dumped then builders go broke. The building industry collapse would spring a retail collapse (another huge employer) which together with falling loan books in the banks means the banks are are risk and since they make up 25% of the share mkt that means investors and pensioners take a hammering.

Don't gloat that at least you can afford a cheap house now. If it's too cheap you won't have a job.

Answer: first drop rates to zero and use national powers to demand the drop is passed to mortgage holders.

Next legislate for mortgage holders to tap their super (pension funds).

Next, grab whatever pensions are left to recap the banks and leave an IOU.

Then print money via QE.

Then sell off assets like ports, power grids, federal land, start a US military base with a US loan,

then open the floodgate to anyone with $2M and a forged passport to buy a house with free citizenship.

 

Oz is different. We won't let politicians get away with it like the US does and besides they have plenty of their money in real estate too.

The left will win the 2019 election and then the drunken spending starts.

The govt actually has a pretty good credit rating compared to most and the credit card will burn."

******ing hell

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On 06/12/2018 at 18:16, Captain Kirk said:

virtually 0. Since they are still at rock bottom, that option is not available.

How do you pronounce "negative interest rates"?

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36 minutes ago, Locke said:

How do you pronounce "negative interest rates"?

They can't go too negative though because people will just withdraw cash and put it under the bed.

People would probably accept something like -1%pa just for the security of leaving their money in a bank, but not (say) -5%pa

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10 hours ago, disenfranchised said:

If England was an independent country it would have the highest population density of any major economy in the world.

I didn't believe it until I did the maths myself.

Borders are pretty meaningless though in these terms

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5 minutes ago, Captain Kirk said:

"lunacy"?

However, I'm happy to borrow any sum of money anyone is willing to offer me at a negative interest rate.

To do what with?

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35 minutes ago, Captain Kirk said:

Pay down the principle and spend the interest on things.

Spend the interest oh things that will be much cheaper 6 months later? Really?

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24 minutes ago, Captain Kirk said:

Well the interest is free money so you can do what you want with it.

Knock yourself out

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21 hours ago, Captain Kirk said:

"lunacy"?

However, I'm happy to borrow any sum of money anyone is willing to offer me at a negative interest rate.

Lol. The banks are the ones getting the negative rates. You, filthy peasant, will be paying 0.5% on your debt and will receive -3% on your bank balance.

Thanks for playing, better luck next time.

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22 hours ago, scottbeard said:

They can't go too negative though because people will just withdraw cash and put it under the bed.

People would probably accept something like -1%pa just for the security of leaving their money in a bank, but not (say) -5%pa

You think there isn't a technical workaround which can't be enforced with the overwhelming violence the government is capable and willing to apply?

They already thought of turning banknotes into dated coupons which depreciate themselves over time and in the age of cryptocurrencies it will be even easier.

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13 minutes ago, Locke said:

You think there isn't a technical workaround which can't be enforced with the overwhelming violence the government is capable and willing to apply?

They already thought of turning banknotes into dated coupons which depreciate themselves over time and in the age of cryptocurrencies it will be even easier.

I'm sure they'd try!

It's never 100% successful as people can still hoard other valuable things instead of Sterling banknotes, such as (for example) banknotes of other currencies, or gold etc etc.  

Ultimately the government would probably be better off raising taxes on wealth than to try and enforce negative interest rates, as it's a lot easier to encourage people to hoard their money visibly in bank accounts and pension funds where it's easy to tax than out of sight under the bed.

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