Crowdedmarket Posted May 29, 2020 Share Posted May 29, 2020 17 minutes ago, crumblingcon said: You want to head up to Northumberland then warpig if you are into that sort of thing, it's Wadenhoe x 10 if you are into the outdoor stuff. Sea, hills and empty scenic roads with loads of space. Lot of people talking lately about staying closer to home because of C-19 and I am one of them. Tried a boat dive off Seahouses Northumberland last year and swam with about 100 seals, another day you will get dolphins, Minke whales or even the odd orca, dive with seals only £20 quid for the trawler to get us out to Farne Islands. I have traveled the world for far worst dives than that one. You probably spotted my beautiful wife walking with an old so and so (me) walking from Seahouses to Bamburgh castle last year and back again several days in a row. Still got my Viking mug off the Farnies......Mead all the way. Defo going back this year when we can. I'm hoping we still get the same Hotel - cheap as chips and the food was awesome. Spotlessly clean. I've been around the World and this is my no1 fave place. Doddingtons ice cream too. Quote Link to comment Share on other sites More sharing options...
24gray24 Posted May 30, 2020 Share Posted May 30, 2020 we've all been bitten by financial market rigging so many times, we can no longer quite believe the mother of all crashes when we see it. I can't see how any government can stop it now... Johnson and cummings have just started the 2nd wave as well, so it's finally here the big crash. Quote Link to comment Share on other sites More sharing options...
Crowdedmarket Posted May 30, 2020 Share Posted May 30, 2020 2 minutes ago, 24gray24 said: we've all been bitten by financial market rigging so many times, we can no longer quite believe the mother of all crashes when we see it. I can't see how any government can stop it now... Johnson and cummings have just started the 2nd wave as well, so it's finally here the big crash. Fishi Rishi has several properties though. No crash. Yet. Quote Link to comment Share on other sites More sharing options...
Crowdedmarket Posted May 30, 2020 Share Posted May 30, 2020 Just got an email from Taylor Wimpey. The house rush in SPAIN is gathering pace - do I want to miss out? I mean.... Quote Link to comment Share on other sites More sharing options...
fleabag Posted May 30, 2020 Share Posted May 30, 2020 On 28/05/2020 at 23:54, captainb said: Crashes do not tend to happen when credit is available, never mind this cheap. To get the conditions necessary you need sellers having to sell and buyers not being able to get credit and therefore not in a position to buy at high prices. Happened in early 90s with rising interest rates and unemployment affecting both sides of the equation. 08/09 we had unemployment teamed with a credit crunch again both sides.. So far this time.. we dont really have unemployment, we might, but even now you can have a 6 month mortgage holiday no questions asked. And banks are still lending at very low rates on 85% mortgages, so those that want credit can get it.. and get it cheap. So neither side as of today. Ingredients are not there yet. Might be in 2021. I think you've hit the nail on the head there re the conditions necessary for a crash. What makes you think the conditions will be there in 2021, considering the powers that be will do anything and everything to maintain cheap credit. Quote Link to comment Share on other sites More sharing options...
24gray24 Posted May 30, 2020 Share Posted May 30, 2020 I don't buy this argument that you can't have a crash because of government money flooding the market. With several million newly unemployed ( none of whom can pay any of their debts), it is bound to reduce wages for the rest. And you can't lend money, however cheap, if the danger is not getting your capital back. All this free money will just be pumped into the rich; stock markets etc. There will still be a massive credit crunch for the bottom 50%. Quote Link to comment Share on other sites More sharing options...
Trump Invective Posted May 30, 2020 Share Posted May 30, 2020 Im sensing a few of us are doubting there will be a crash. There was a big wave of optimism a month ago. Can I remind you all about a saying that often gets repeated here: When the USA sneezes... 40 million unemployed? Riots in the streets? Come on people. Quote Link to comment Share on other sites More sharing options...
Warlord Posted May 30, 2020 Share Posted May 30, 2020 The HPC will happen . Relax . It is a huge bubble and they always burst.This is consistent with the Austrian business cycle and has 100 years of economic history in terms of identifying bubbles. No one can tell you when it will pop but it will happen... the credit boom is always followed by a bust. There are so many examples just in this country (80's, 90's, 2008). Quote Link to comment Share on other sites More sharing options...
24gray24 Posted May 30, 2020 Share Posted May 30, 2020 45 minutes ago, Trump Invective said: Im sensing a few of us are doubting there will be a crash. There was a big wave of optimism a month ago. Can I remind you all about a saying that often gets repeated here: When the USA sneezes... 40 million unemployed? Riots in the streets? Come on people. +1. It takes a bit of time to sink in that this really is the end of credit cards and credit. And that's before the crisis in American housing and banking washes over us... Quote Link to comment Share on other sites More sharing options...
Si1 Posted May 30, 2020 Share Posted May 30, 2020 54 minutes ago, Trump Invective said: Im sensing a few of us are doubting there will be a crash. There was a big wave of optimism a month ago. Can I remind you all about a saying that often gets repeated here: When the USA sneezes... 40 million unemployed? Riots in the streets? Come on people. Don't forget the EU And the trade war with China Quote Link to comment Share on other sites More sharing options...
Trump Invective Posted May 30, 2020 Share Posted May 30, 2020 Even help to buy mortgages have lower LTV - there is less cheap money for the bottom feeders Quote Link to comment Share on other sites More sharing options...
Si1 Posted May 30, 2020 Share Posted May 30, 2020 19 hours ago, captainb said: As a student i lived in a flatshare right on Wandsworth highsteet, with a double decker bus stop outside. TFL sent us a well worded given the circumstances letter, which essentially reminded us of the need for "appropriate window dressings", turns out the guy who had bedroom at the front of the flat, had been having sex with his boyfriend in the morning in full glare of people on the upper deck at the bus stop. Looking back the saddest part was not seeing what was written by Mrs Miggins in the complaint letter to TFL. Gimp mask next time then Quote Link to comment Share on other sites More sharing options...
Trump Invective Posted May 30, 2020 Share Posted May 30, 2020 22 minutes ago, Si1 said: Don't forget the EU And the trade war with China True - stir those ingredients into the pot and there is only one outcome. ZIRP is already baked into the system - the govt may have provded money, but credit is about to freeze up as 24gray24 says Quote Link to comment Share on other sites More sharing options...
Si1 Posted May 30, 2020 Share Posted May 30, 2020 Sensibly prices houses seem to be selling near me. Quote Link to comment Share on other sites More sharing options...
Confusion of VIs Posted May 30, 2020 Share Posted May 30, 2020 18 minutes ago, Si1 said: Sensibly prices houses seem to be selling near me. I have just done a local search and exactly one third of the houses on Rightmove have gone to STC. Unbelievable, hopefully just mugs with a pent up urge to buy a house/any house but not what I expected. Quote Link to comment Share on other sites More sharing options...
Jonah 4291 Posted May 30, 2020 Share Posted May 30, 2020 I pulled out of my purchase last week as they wouldn't drop their price and im moving up the market, sold my flat but everything around here is flying out people are paying the asking price I don't understand what's going on when the economy is going down the pan Quote Link to comment Share on other sites More sharing options...
Si1 Posted May 30, 2020 Share Posted May 30, 2020 42 minutes ago, Confusion of VIs said: I have just done a local search and exactly one third of the houses on Rightmove have gone to STC. Unbelievable, hopefully just mugs with a pent up urge to buy a house/any house but not what I expected. Yeah looks like that Quote Link to comment Share on other sites More sharing options...
Si1 Posted May 30, 2020 Share Posted May 30, 2020 13 minutes ago, Jonah 4291 said: I pulled out of my purchase last week as they wouldn't drop their price and im moving up the market, sold my flat but everything around here is flying out people are paying the asking price I don't understand what's going on when the economy is going down the pan Could just be the money printing, loan schemes etc etc Quote Link to comment Share on other sites More sharing options...
Crowdedmarket Posted May 30, 2020 Share Posted May 30, 2020 17 minutes ago, Jonah 4291 said: I pulled out of my purchase last week as they wouldn't drop their price and im moving up the market, sold my flat but everything around here is flying out people are paying the asking price I don't understand what's going on when the economy is going down the pan People are putting the rest of their money into housing. Others are putting other peoples money into housing. Hold tight. Be strong. Quote Link to comment Share on other sites More sharing options...
Tit-In-a-Trance Posted May 30, 2020 Share Posted May 30, 2020 8 minutes ago, Crowdedmarket said: People are putting the rest of their money into housing. Others are putting other peoples money into housing. Hold tight. Be strong. Spot on. You don't have to look far to find forums where people are talking about still having their mortgage approved despite being on furlough. Those people haven't twigged yet that they are effectively unemployed. There are still people making offers that are in work for employers not yet heavily impacted from the forthcoming depression. They haven't twigged yet that their job security is likely to be shot in a few months and vacancies are already drying up. Lots of decision making based on the now rather than the near future. We need to wait for the "schemes" to wind up. Quote Link to comment Share on other sites More sharing options...
Si1 Posted May 30, 2020 Share Posted May 30, 2020 3 minutes ago, Tit-In-a-Trance said: Spot on. You don't have to look far to find forums where people are talking about still having their mortgage approved despite being on furlough. Those people haven't twigged yet that they are effectively unemployed. There are still people making offers that are in work for employers not yet heavily impacted from the forthcoming depression. They haven't twigged yet that their job security is likely to be shot in a few months and vacancies are already drying up. Lots of decision making based on the now rather than the near future. We need to wait for the "schemes" to wind up. I wonder if it's the BoE put? Quote Link to comment Share on other sites More sharing options...
Si1 Posted May 30, 2020 Share Posted May 30, 2020 19 minutes ago, Crowdedmarket said: People are putting the rest of their money into housing. Others are putting other peoples money into housing. Hold tight. Be strong. I think so. Stock markets bounced too. Similar issue. Stimulus. Quote Link to comment Share on other sites More sharing options...
dirtysteve Posted May 30, 2020 Share Posted May 30, 2020 1 hour ago, Jonah 4291 said: I pulled out of my purchase last week as they wouldn't drop their price and im moving up the market, sold my flat but everything around here is flying out people are paying the asking price I don't understand what's going on when the economy is going down the pan Where abouts are you? Quote Link to comment Share on other sites More sharing options...
captainb Posted May 30, 2020 Share Posted May 30, 2020 (edited) 4 hours ago, 24gray24 said: I don't buy this argument that you can't have a crash because of government money flooding the market. With several million newly unemployed ( none of whom can pay any of their debts), it is bound to reduce wages for the rest. And you can't lend money, however cheap, if the danger is not getting your capital back. All this free money will just be pumped into the rich; stock markets etc. There will still be a massive credit crunch for the bottom 50%. Have you heard of bounce back loans? 16 billion has been lent out with little chance of getting the capital back. 50k is a decent deposit Edited May 30, 2020 by captainb Quote Link to comment Share on other sites More sharing options...
24gray24 Posted May 30, 2020 Share Posted May 30, 2020 52 minutes ago, captainb said: Have you heard of bounce back loans? 16 billion has been lent out with little chance of getting the capital back. 50k is a decent deposit These are loans not gifts. £50,000 requires a business with a bigger turnover; hes bound to have other assets ( and to have given personal guarantees to the bank). The borrower remains responsible for the loan. Spending £50,000 on catching a falling knife sounds like an estate agent's pipe dream. I can't see it happening in practice. But I can see a huge recession for the bottom 50% however much money is being given to the rich. Quote Link to comment Share on other sites More sharing options...
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